E21 - Can you lose money picking 60% winners?
Business of Betting Podcast
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How to Increase Your Betting Percentage
Kelly Wallace: When you're betting some fraction of your wealth that winning three times and losing three times leaves you worse off. He says it's just a human, it's our, it's a human bias. We can't accept that the truth isn't revealed in a small number of outcomes,. That we want the story to be told to us without having to wait 100 years.Wallace: The most likely outcome for your wealth is your down close to zero if you bet 50% on each flip.
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