On Wed, Sep 21, 2011 at 6:39 AM, mike <melbedewy1226@hotmail.com> wrote:
> --- In vpFREE@yahoogroups.com, 007 <007@...> wrote:
> > Let's say there's a gambling proposition, similar to blackjack, that
> > pays even money and has a 50.5% chance of winning and a 49.5% chance
> > of losing. That's a 1% advantage and the Kelly Criterion says to bet
> > 1% of one's bankroll on it.
>
> Totally useless example. "Let's say" there is an 11-8 JOB machine or a
> standard BJ game that pays on ties. All useless hypotheticals that will
> never exist.
Mike apparently does not grasp that you can learn things from hypothetical
examples that can be applied to or help you understand more complicated
real-world/practical examples.
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