hypothetical

[VoraciousReader]

As long as I have no immediate purpose that the money is supposed to fill, I absolutely make this bet.

I won't bet with any money that I have an immediate need for, no matter how good the odds.

[mosquito]

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you have just graduated college and have 25K to your name. You are a degenerate gambler and you know this. You have a shot to put all your money on the line (poker hand, sports bet, etc.) but you are gauranteed 92% to double your money. The other 8% of the time you lose it all. You hold a low paying job and the money is not easily replaceable. Bet or fold?

[/ QUOTE ]

The problem is assessing how likey the 92% is to be
accurate.

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no. read the title of the thread. there is no problem there.

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No. Understand that even if you think its 92%, it probably
is not. Variables are frequently overlooked. Only if it
is a PURE math problem can you say it is exactly 92%.

[montechristo]

hypothetical, pure math. 92% is assured. you have rent and food paid for the next 3 months. bet or fold?

[mosquito]

Depends on life circumstances then. For a 20-something
it would be right for a high percentage of them. For others
it becomes less clear, although pretty tempting.

In my current circumstance, *probably*, like 92% of the
time it was offered. LOL.

[MyTurn2Raise]

25k isn't much money...might as well bet it...starting with 0k and 25k are not too much different on my utility curves

[Klepton]

i would bet, then if i lost, would tell every one of my friends about the bet and make them bet too, so that eventually we will be rich.

[4_2_it]

I'd throw my $25k in along with another $50k borrowed on a short-term basis from 'Vinnie the Shark'

[derick]

I'd bet 92% of the 25K

[Gorgonian]

I do not make this bet. I make hard rules about my bankroll management that I force myself to stick by to minimize my risk of ruin.

As long as we are being hypothetical, what if someone were to offer you 100% odds (they are unknowingly drawing dead) on doubling your money very soon after the above proposition? What if you didn't know this was coming? The possibility of making future profit or losing the ability to make future profit should be considered in this decision.

EDIT: But, then, I see this question wasn't directed at me, since I'm not a degenerate gambler (despite what my mother thinks).

[RowdyZ]

[ QUOTE ]
I do not make this bet. I make hard rules about my bankroll management that I force myself to stick by to minimize my risk of ruin.

As long as we are being hypothetical, what if someone were to offer you 100% odds (they are unknowingly drawing dead) on doubling your money very soon after the above proposition? What if you didn't know this was coming? The possibility of making future profit or losing the ability to make future profit should be considered in this decision.

EDIT: But, then, I see this question wasn't directed at me, since I'm not a degenerate gambler (despite what my mother thinks).

[/ QUOTE ]

Looks like someone has read TPAP.

I make the bet.

RZ