standard 52card deck.
you get the 1st 15 cards off the top after the shuffle/cut.
he gets the 16th.
he was giving 10:1 odds (I think). (his $5k for $50k?)
what are the true odds that he beats you?
Quote: 100xOddssaw this in the british tv drama 'Lucky Man.'
standard 52card deck.
you get the 1st 15 cards off the top after the shuffle/cut.
he gets the 16th.
he was giving 10:1 odds (I think). (his $5k for $50k?)
what are the true odds that he beats you?
Assuming he neither wins nor loses on ties, my answer is that to make the game fair, he should be paid about 27.3 to 1 on his wins.
I find your edge is 54% if the payout is only 10:1.
Quote: ChesterDogAssuming he neither wins nor loses on ties, my answer is that to make the game fair, he should be paid about 27.3 to 1 on his wins.
I find your edge is 54% if the payout is only 10:1.
Ah, I just realized how I was misthinking this. It is not analogous to a game with 16 people each getting one card, because if you tie it’s a push, but if two other people tie, you lose.
how did you come up with 27.3 to 1?Quote: ChesterDogAssuming he neither wins nor loses on ties, my answer is that to make the game fair, he should be paid about 27.3 to 1 on his wins.
I find your edge is 54% if the payout is only 10:1.
If it is normal that you have to beat the dealer to win then
(i) Chances of winning = 3.304%
(ii) Chances of drawing = 6.636%.
As has been said fair odds are about 29/1 (or slightly lower if ties are a push).
Quote: charliepatrickI get it that if a tie is a win then 10 for 1 (note "for" not "to") is reasonable as the chances are 9.940% - this seems likely as 15 cards is a key number to get this. (Interestingly it's almost 7 to 1 with 10 cards, 4 to 1 with 5 cards.)
If it is normal that you have to beat the dealer to win then
(i) Chances of winning = 3.304%
(ii) Chances of drawing = 6.636%.
As has been said fair odds are about 29/1 (or slightly lower if ties are a push).
im lost.
first you said 10:1 (9:1?) is reasonable if a tie = win.
then you fair odds is 29:1???
Quote: 100xOddshow did you come up with 27.3 to 1?
Assuming neither player loses on ties, I get 0.03304 as his probability of winning, 0.06636 as his probability of tying, and 0.90060 as his probability of losing.
To get the above, I considered each card, ace down to two, and found the number of ways for him to win and ways for him to tie. For example, if his card is a ten, there are 3 tens remaining, 16 cards that will beat him, and 32 cards that he will beat. The number of ways he can win would then be combin(32,15).
In the above example, you can tie him by having either 1, 2, or 3 tens with lower cards. So, the number of ways to tie is combin(3,1)*combin(32,14) + combin(3,2)*combin(32,13) + combin(3,3)*combin(32,12).
The number of ways for him to lose is combin(51,15) - number of ways to win - number of ways to tie.
Divide the number of ways by combin(51,15) to convert to probabilities. Do this for his 13 possible cards, add, and divide by 13 to find his overall probabilities of winning, tying, and losing.
His EV is then P(win) * odds - P(lose). For odds of 27.258 to 1, his EV would be near 0.
If he loses on ties, then the odds would have to be 29.27 to 1 for his EV to be near 0, which agrees with Charlie Patrick's answer.
Quote: 100xOddsim lost.
first you said 10:1 (9:1?) is reasonable if a tie = win.
then you fair odds is 29:1???
If you have to beat the dealer to be paid out and all other outcomes (equal or lower) lose, then fair odds are about 29/1 (you have about 3.304% chance of being paid out).
If you can win or tie the dealer to be paid out (i.e. higher or equal) and only lose if your card is lower, then fair odds are about 9/1; this equates to 10 for 1 (you have about 9.940% of being paid out).
It is because the OP mentioned "10" and that 15 cards was the actual number of cards to get such a close result, I wondered whether this was the rules of the game especially as the House edge is only 0.6%!