Re: A quick note about \"rareness\" of bets
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I did want to discuss this idea, though:
VERY RARE, VERY SLIM +EV SITUATIONS ARE NOT PROFITABLE, BECAUSE OF THE LIKELYHOOD THAT WE WILL NOT SEE THEM ENOUGH TIMES DURING OUR POKER LIFETIMES FOR THE NUMBERS TO NORMALIZE.
This notion is 100% erroneous. How often you are offered a bet does not determine in any way whether it is profitable or not.
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This is a bit of a tangent but I wanted to ask this anyways.
Ed, does this concept apply when the bets are very large relative to bankroll? I learned about risk-aversion in Econ class and to me, this would be the perfect example of it. I know we weren't talking about huge games and stuff (just the usual 1/2 games we play), but IF we were talking about huge life-savings type bets, even if it were +EV, wouldn't it still be correct to pass it up?
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