Gambler gets his life back with single spin

[Zoltri]

Guts or Stupidity?

[CORed]

I'd vote for stupidity here. However, it should be noted, that if one is going to play a negative EV game, betting the entire bankroll on one decision is the best way to do it. However, it would have been better for this person to bet "bank" in baccarat. He would have had >50% chance to win, but would have had to pay 5% commission, so he would quite double his money if he won.

[ElSapo]

First, this happened a while back and there were some good threads on it.

Second, the general consensus I believe was smart move -- while the bet itself may not be +EV, in the long-term of it all, in a life changing kind of way, this isn't a lot of money and the resulting publicity (win or lose) would more than make up for the vig.

ElSapo

[Crix]

What the article fails to mention is that a major UK TV show paid the guy £80,000 to do this for a 1/2 hour TV slot. If he lost the £80,000 bet he was no worse off than when he started. Now that's EV!

[EliteNinja]

[ QUOTE ]
What the article fails to mention is that a major UK TV show paid the guy £80,000 to do this for a 1/2 hour TV slot. If he lost the £80,000 bet he was no worse off than when he started. Now that's EV!

[/ QUOTE ]

Wow, staked at roulette, that ain't bad.
If I had £80,000 life savings, I'd be many times richer than I am now.

[Al Mirpuri]

Both.

Was this the guy who was doing it as part of UK tv program?

[tek]

At first I thought you said his "wife back" and I was going to say he had a +EV not spinning... [img]/images/graemlins/grin.gif[/img]

[eggzz]

[ QUOTE ]
I'd vote for stupidity here. However, it should be noted, that if one is going to play a negative EV game, betting the entire bankroll on one decision is the best way to do it. However, it would have been better for this person to bet "bank" in baccarat. He would have had >50% chance to win, but would have had to pay 5% commission, so he would quite double his money if he won.

[/ QUOTE ]

Why wouldn't you bet the Player instead? No commission to the house, you would exactly double your money. If you are going all in on one Baccarat hand, why would you play the Bank? LOL

[bpb]

[ QUOTE ]

Why wouldn't you bet the Player instead? No commission to the house, you would exactly double your money. If you are going all in on one Baccarat hand, why would you play the Bank? LOL

[/ QUOTE ]

Because the bank is a higher EV bet. LOL

[siriusradio]

Sounds like a degenerate gambler to me. He will be back, and he will lose.