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Can someone please explain how to apply this first and an ELI5 second?
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this post was submitted on 24 Oct 2023
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The guy in the video did his math wrong.
And 80% gain gives you 1.8x. A 50% gain gives you 0.5x. When combining them, you multiply them, giving you 0.9x, which is a 10% loss with each set of 2 flips.
Try it yourself: $100 x 1.8 = $180. $180 x 0.5 = $90. So you start with $100 and end with $90.
What is wrong with it? That's exactly what he shows in the video. When betting it all, equal wins and losses is a net loss. The point is betting some fraction such that the gains overtake the losses