Roulette Forum

Roulette Forum => Questions and Answers => Topic started by: Kynge_Rycharde on April 21, 2017, 04:27:21 PM

Title: Unequal Payoff Paradox
Post by: Kynge_Rycharde on April 21, 2017, 04:27:21 PM
Is anyone aware of, or has noticed the following.

Let's say there are two players. Let's call them Smith and Jones. Both will bet the same amount ( two chips), and both will bet on the same numbers (1-6 double street).

Smith chooses to place his two chips as a line bet. Jones chooses to place one chip on the 1-3 street, and one chip on the 4-6 street.

Number 4 appears, so both players win. Smith gets back (5 * 2) + 2 or twelve chips. Jones gets back (11*1)+1 or twelve chips, but loses the one chip wagered on the 1-3 street for a total of eleven chips returned.

Another way to look at it is that both players start off with ten chips; both make a two chip wager, so now both have eight chips left. Smith receives twelve chips, and now has twenty (8+12). Jones receives eleven chips and now has nineteen (8+11).

I'm sure that somehow I'm missing something here, because from what I have read, no matter what variation of a bet that you make, the payoff is supposed to be the same. And yet, from the above example, it would appear that it is better to make one two-chip wager, rather than two one-chip wagers.

Comments and guidance would be appreciated.

Regards,

Kynge
Title: Re: Unequal Payoff Paradox
Post by: scepticus on April 21, 2017, 05:38:22 PM

You have misunderstood the payouts, KR
Both bet 2 chips and both receive 12 chips  on a win . Both have a profit of 10 chips on their bets.
Title: Re: Unequal Payoff Paradox
Post by: thomasleor on April 21, 2017, 05:44:42 PM
The statistical chance of both men winning their bet on 6 numbers is 0.1621%,  or 1 in 6.167 attempts. The casino has to match this with equal payouts.

Consequently both receive 12 units back from the casino standing on a BR of 20 units, each of them having doubled their original BR with this single bet.
Title: Re: Unequal Payoff Paradox
Post by: kav on April 21, 2017, 06:13:50 PM
Jones gets back (11*1)+1 or twelve chips, but loses the one chip wagered on the 1-3 street for a total of eleven chips returned.
The fact that he loses the one bet doesn't change the fact that he gets (11*1)+1 = 12 chips. So both get 12 chips back.
Title: Re: Unequal Payoff Paradox
Post by: Reyth on April 21, 2017, 08:00:23 PM
I think the problem is you have counted a winning chip as a loss and with that corrected, both players get 12 chips. ;)

HTH! :D

In all seriousness though, its an easy mistake to make; I have made it many times among other such mistakes and so just like with programming, I have learned to "check everything" because I am bound to make a mistake.