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| View Poll Results: 5 vs 12 | |||
| Steve Lyons |
   
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29 | 29.29% |
| Stu Scott |
  
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70 | 70.71% |
| Voters: 99. You may not vote on this poll | |||
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#1
12-01-2005, 12:41 PM
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Re: WSOP Hachem JJ Hand
[ QUOTE ]
+EV and -EV are useful over the LONG RUN. In this case, THERE IS NO LONG RUN at the final table of the WSOP!! [/ QUOTE ] This is a demonstration of extremely confused thinking. If you think "+EV and -EV" are "not useful here", since there is no "long run" at the FT of the WSOP, you have no idea what EV means. 
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#2
12-01-2005, 02:59 PM
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Re: WSOP Hachem JJ Hand
I may not have the bext understanding of -EV and +EV, but I did read a post yesterday that summed up what I was trying to say. It essentially said --
If we bet on a coin toss, and you agreed to pay me $100,000 for each time it came up heads and I paid you $102,000 for each time it came up tails that would be slighting +EV for you. You would happily take the wager as it is +EV for you. Now, what if I told you we would only flip the coin ONCE? Would you still take the bet?
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#3
12-01-2005, 03:15 PM
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Re: WSOP Hachem JJ Hand
[ QUOTE ]
I may not have the bext understanding of -EV and +EV, but I did read a post yesterday that summed up what I was trying to say. It essentially said -- If we bet on a coin toss, and you agreed to pay me $100,000 for each time it came up heads and I paid you $102,000 for each time it came up tails that would be slighting +EV for you. You would happily take the wager as it is +EV for you. Now, what if I told you we would only flip the coin ONCE? Would you still take the bet? [/ QUOTE ] The answer has to do with the size of my bankroll, and the risks I'm willing to take as a gambler, when facing a clear +EV decision. The answer has absolutely nothing to do with the fact that there will only be "one coin flip" in this _particular_ game.
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#4
12-07-2005, 12:09 PM
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Re: WSOP Hachem JJ Hand
[ QUOTE ]
[ QUOTE ] +EV and -EV are useful over the LONG RUN. In this case, THERE IS NO LONG RUN at the final table of the WSOP!! [/ QUOTE ] This is a demonstration of extremely confused thinking. If you think "+EV and -EV" are "not useful here", since there is no "long run" at the FT of the WSOP, you have no idea what EV means. [/ QUOTE ] You are right, you can use the EV concept here and calculate the $EV. Nonetheless, it is not sufficient as a decision making tool.
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