Re: Flop is all red
 

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even bet. odds are 8 to 1 if you pick black or red of it coming true

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First, even if every card was 50/50 (they're not), the odds would be 7 to 1 not 8 to 1. OP was getting 8 for 1 (7:1).

Second, the answer is already in the thread.

Re: Flop is all red
 

Already been answered but... it's an 8 to 1 payout for 8.5 to 1 odds.

Re: Flop is all red
 

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Already been answered but... it's an 8 to 1 payout for 8.5 to 1 odds.

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8 for 1 payout for ~ 8.5 for 1 odds.

Re: Flop is all red
 

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how so?

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You can make descisions that affect whether there is a flop after seeing the hole cards.

Re: Flop is all red
 

ok, 100/11.77 is 8.50. I forget what exactly this means. It's 7.5 to one, isn't it? (Suppose there was a 50% chance. 100/50 is 2, and the odds are 1:1 (subtract one). 33% same thing, you get 3, subtract one and get 2:1. So why aren't our odds 7.50 to one here and this is a profitable bet (assuming decisions must be made before flop cards)

i'm probably missing something dumb, it's early

Re: Flop is all red
 

More specifically:
Let's say you get 10 players to collude in some variety of an Omaha SNG. Now, everyone bets on the red option. Then you count the total number of red cards in players' hands. If the number of red cards that has already been dealt is 19 or less, then the flop bet is profitable, and you should see the flop. Otherwise, simply fold to the big blind so the flop is never shown.

My calculations show that the EV per hand dealt for this game is a whopping $1.288 per $1 bet.

Now, in a sit-and-go, a team of 10 could reasonably expect to have all ten players see 50-70 hands, and party poker allows each player to bet $10 on the flop side bet per hand. So, that's an expected winning of $144 per player, accounting for the $1 spent on tournament entry.

Of course, PartyPoker allows audience members to bet as well...

Re: Flop is all red
 

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ok, 100/11.77 is 8.50. I forget what exactly this means. It's 7.5 to one, isn't it? (Suppose there was a 50% chance. 100/50 is 2, and the odds are 1:1 (subtract one). 33% same thing, you get 3, subtract one and get 2:1. So why aren't our odds 7.50 to one here and this is a profitable bet (assuming decisions must be made before flop cards)

i'm probably missing something dumb, it's early

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Because OP was getting 8 for 1, which is the same as 7:1.

Re: Flop is all red
 

LOL. Why would any 'casino' offer an even money bet? So they can break even at the end of the year? Even without doing the math you should know the answer is that the odds against are worse than the payout using common sense. The math just confirms it.

Re: Flop is all red
 

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LOL. Why would any 'casino' offer an even money bet? So they can break even at the end of the year? Even without doing the math you should know the answer is that the odds against are worse than the payout using common sense. The math just confirms it.

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Casinos will offer +EV bets to get people in the doors. For example, Blackjack pays 3 for 1 was apparently a popular promotion for a while.

Re: Flop is all red
 

7.5 to 1 odds AGAINST hitting.

8 to 1 odds FOR hitting.

Isn't this plus EV?

edit: I'm not trying to be dense here, i'm seriously confused about the "for" and "to" distinction. When I do the math it says the odds for the 11.77% chance is 7.5 to 1. and he is getting paid 8 dollars for 1 dollars (which is 8 to 1, isn't it? We call a half-pot bet giving us 3-1 odds, we can win 3 and lose one, in this case we can win 8 and lose 1, so it's 8-1)

what the heck am I missing here?