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by gosub100 472 days ago
There is clearly a limit on practicality though. Unless you are suggesting someone should sell their 401k and buy Powerball tickets any time the jackpot exceeds the odds of winning simply because it has positive EV?
2 comments
t_mann 472 days ago
The math also tells you what percentage of your wealth to bet: https://en.wikipedia.org/wiki/Kelly_criterion
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TylerE 472 days ago
That’s why it’s big syndicates that do it, to lesson anyone one persons exposure.
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