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The answer I was looking for was: he's too loose.
The point was to show that if you need to win at 5% to justify a call, your true win rate when you call should be much higher. This is because every call you make should have, as a floor, a 5% win rate. You should get plenty of opportunities to call with much better odds than this though, and those calls should drive your winrate up.
If you answered too loose because he should fold if he's exactly 19:1 against then you got the right answer for the wrong reason. I should have made it "just a tiny fraction better than 5%" to make this logic clearly wrong.
If you got the wrong answer because it was unclear that I meant the 5% to refer to his winrate when he calls, and not overall, I apologize for the confusing wording.
thanks,
Eric
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