E21 - Can you lose money picking 60% winners?
Business of Betting Podcast
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Kelly Risk Aversion Log Utility
So what happens in this game without a cap? What is there? There's an expected value, right? There's a certain number that it would reach if you had the same amount of time and flips. And we sort of came up with numbers of 10 to $50,000 which would be the utility,. The dollar value of the expected utility of the game. Yeah. So uncapped, it's worth a lot. But as I say, I think uncapped, people would probably not play it all the way.
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