How do you make a random propositional bet correctly?
Asked by
simone54 (
7629
)
January 1st, 2011
I’m thinking as in Oceans’ Eleven when Shaobo (tiny Chinese acrobat) is practicing his back flip off the cart on to the wall of the vault. One of the guys said “ten says he shorts it”, two others reply “twenty!”
What exactly does that mean?
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2 Answers
Do you mean this?
Guy A- !0 ($10.00 bet) that he
“shorts it” short jump…and misses the wall thing
Guy B and C- 20 (raises the bet to $20.00)
most of these bets aren’t considered real bets…just for fun ie: no money is exchanged…
I agree w. @coffeenut that “ten” and “twenty” are meant to be dollars wagered. With no other qualifiers one must assume even odds, i.e., the same money is paid to the winner for either outcome—whoever correctly predicts it.
Not to be confused with ten-to-one or twenty-to-one (or whatever) odds, where payout is higher for a less likely outcome. If you think the acrobat has a 90% chance of making it and a 10% chance of shorting it, a rational bet is 9:1 (nine-to-one) odds in favor of making it, or nine to one against shorting it. If the acrobat makes it, the winner is paid 1$; if he shorts it, the winner is paid $9; and so on.
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