Isn't that just the right thing to do, statistically? Vegas has been operating profitably this way for decades.

roncesvalles 2 days ago | parent | next [-]

It's not the same due to the Law of Large Numbers. The risk involved in many small 51% bets is very different from the risk in a single all-or-nothing 51% bet.

	▲	lelanthran 2 days ago \| parent [-]
		> The risk involved in many small 51% bets is very different from the risk in a single all-or-nothing 51% bet. Right, but parent didn't say anything about an all-in bet, just double-or-nothing on a positive EV bet. Frankly, I'd repeatedly bet on a positive EV bet too; it's a guaranteed win if you're allowed to go on for as long as you want to.

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FergusArgyll 2 days ago | parent | prev [-]

The context was double or nothing the entire human population of the universe.