January 12th, 2019 at 9:36:40 PM
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Scenario: you were offered a deal by a sports book that gives you money back if the team you back "are ahead at the end of any of the first 3 quarters and then go on to lose the game"
You found out that "in the last 1500 games played, 500 teams were ahead at the end of quarter 1, 2 or 3, and then went on to lose".
note: please assume that the 'historical average' is equal to the 'chance' of it happening in the future.
also note: You have NOT analyzed the pre-game odds for any of the last 1500 games played.
Odds offered are fair but there is a fixed House edge of 5%:
example 1: if $1.90 is offered then the chance for that team to win is 50%
example 2: if $4.75 is offered then the chance for that team to win is 20%
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If you could only back one team in each of the games below, which one would you pick, and why?
note: Answer the 'why' in terms of 'what the theoretical RTP is for your pick and what the RTP is for the other team', if possible.
Game 1: The $2.375 or / the $1.5833... team?
Game 2: $3.80 / $1.266... ?
Game 3: $9.50 / $1.0555... ?
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I am posting these questions for 2 mains reasons,
1. to see if i was using the correct strategy and
2. because it seems like an interesting math problem, as well
You found out that "in the last 1500 games played, 500 teams were ahead at the end of quarter 1, 2 or 3, and then went on to lose".
note: please assume that the 'historical average' is equal to the 'chance' of it happening in the future.
also note: You have NOT analyzed the pre-game odds for any of the last 1500 games played.
Odds offered are fair but there is a fixed House edge of 5%:
example 1: if $1.90 is offered then the chance for that team to win is 50%
example 2: if $4.75 is offered then the chance for that team to win is 20%
---------------------
If you could only back one team in each of the games below, which one would you pick, and why?
note: Answer the 'why' in terms of 'what the theoretical RTP is for your pick and what the RTP is for the other team', if possible.
Game 1: The $2.375 or / the $1.5833... team?
Game 2: $3.80 / $1.266... ?
Game 3: $9.50 / $1.0555... ?
----------------------
I am posting these questions for 2 mains reasons,
1. to see if i was using the correct strategy and
2. because it seems like an interesting math problem, as well
Last edited by: ksdjdj on Jan 12, 2019