View Full Version : Odds calculations

09-26-2002, 01:04 AM
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?

09-26-2002, 01:26 AM
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.