#1
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Odds calculations
This generated heated discussion on the Poker table yesterday.
I am on a dice table with $10 on the dont pass. The point is 6. I therefore have a 6 to 5 edge over the house at this point. My friend walks up and offers to buy the bet from me for $11, is my friend making a wise decision? What is his EV? Should I take the money? What is my EV? |
#2
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Re: Odds calculations
Holding the bet has an expectation of (6/11) * $10 - (5/11) * $10 = $0.91. Selling the bet has an expectation of $1. You should definitely sell.
Your friend's expectation in purchasing the bet from you for $11 is $10.91 - $11 = -$0.09. heihojin |
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