Ok now figure this one out!
 

Superbowl Pool 100 Squares. Cost: $250 each 25k total

1st Quarter Score match $1000
Half Time Score match $1000
3rd Quarter Score Match $1000
Final Score Match 2005 VW Bug Auto 3k miles ex.cond
Bad Number (5/5) $250
Bad Number (9/9) $250
Bad Number (2/2) $250
Bad Number (5/9) $250
Bad Number (9/5) $250

Bad Number Squares can still win if their numbers come up. Tell me why I should or shouldn't participate in this pool.
The car is verified as excellent and highly sellable

Straight Flushes,

SAM

Re: Ok now figure this one out!
 

If it's +EV for the guy running the pool, then it's -EV for you, and everybody else who buys a square.

I'd need to know the value of the car to determine EV, keeping in mind that if I only intended to liquidate it, I probably would not expect full value.

Re: Ok now figure this one out!
 

[ QUOTE ]
I'd need to know the value of the car to determine EV

[/ QUOTE ]

Let's say $20000

Better Yet when does it become +EV?

Straight Flushes,

SAM

Re: Ok now figure this one out!
 

A square costs $250. There are 100 squares.

When total prizes paid out exceed $250*100 ($25,000), you've got +EV.

If that total is just pennies over $25k, then you've got pennies of EV, divided by 100.

Note that refunding "bad numbers" does not make you more likely to win than anyone else who buys a square.

Re: Ok now figure this one out!
 

Also, if you plan on selling the car you can figure in some amount for time and effort for that chore. If it were me, I would not be interested.

Re: Ok now figure this one out!
 

The go from 17k - 24k. So it really depends on the amount. If it is +EV, which I doubt, it's only a little. It's really just a creative way for this guy to unload his wife's car.