wealth-utility bets at the table

Many years ago, it occurred to me that $50 is worth way more when you have $50 in chips in front of you than when you have $1000 in front of you. So, if you have $50, what are the chances of winning three in a row net, and getting back in the game?


Off the top of my head, I would say those chances may be as high as 1 in 4. So, it would make sense for someone else at the table to bet you $250 you'd make it to $1000, where if you made it to $1,000 first you'd owe him $250, whereas if you made it to zero first, he'd owe you $50.


Then you could start over again, depending on small-buy restrictions. Does this work out?


eLROY