webwiser
Enthusiast
Silver Level
If I proposed to you the following game of dice:
Let's bet on the dice. If the number drawn is 6, I win $1.20. But every time a number other than 6 is drawn, you win $0.20. Assuming the dice is not biased, would you play this game with me?
No!
Explaining:
It would be a game with negative value expectation for you.
The die has 6 faces numbered from 1 to 6. There are six possibilities. among them, in 5 you win 20 cents when a number other than 6 is drawn. When the 6 comes out, I earn 1.20 dollars. By completing a cycle of 6 possibilities, you would be earning 1 dollar and I would be earning 1.20 dollar, I would be profiting off of you 20 cents in the long run, this being a positive EV game for me. I would love to continue playing this little game with you. In the long run this game would be profitable for me.
At each complete cycle of 6 possibilities I would be in profit and you would be at a loss.
Now think about how this applies to poker.
Let's bet on the dice. If the number drawn is 6, I win $1.20. But every time a number other than 6 is drawn, you win $0.20. Assuming the dice is not biased, would you play this game with me?
No!
Explaining:
It would be a game with negative value expectation for you.
The die has 6 faces numbered from 1 to 6. There are six possibilities. among them, in 5 you win 20 cents when a number other than 6 is drawn. When the 6 comes out, I earn 1.20 dollars. By completing a cycle of 6 possibilities, you would be earning 1 dollar and I would be earning 1.20 dollar, I would be profiting off of you 20 cents in the long run, this being a positive EV game for me. I would love to continue playing this little game with you. In the long run this game would be profitable for me.
At each complete cycle of 6 possibilities I would be in profit and you would be at a loss.
Now think about how this applies to poker.