What is this wager worth to you?

>>9030248
I would pay 5 dollars just for the novelty. At 5 dollars, I'd need to win 3 flips to profit which is reasonable chances. I don't know what the expected value is without making a table but it's probably around 3 dollars.

>>9030248
Isn't that the martingale "gambling method"?

>>9030248
Zero. it's obviously a scam since the expected value is infinite. The game cannot be played as promised.

>>9030272
yes E goes to infinity but it doesnt mean you can't play this game if you assume the casino is backed george soros and mark cuban and the player is a guy with alot of time on his hands

>>9030274
Are you retarded? There is no such thing as infinite money. So the game cannot be played as long as you keep winning because you can win any amount of times but the house cannot pay you every time.

>>9030248
There's less than a 1% chance of making it past your 6th flip. The expected value at that point is $3.50, so probably around that.

If I play four times it's pretty likely I'll get back like $9 having spent $14, but hey, I could also get lucky and make infinity dollars.

>>9030277
you act like the concept of infinity doesn't exist math. you might as well say calculus is bullshit cuz infinity doesn't exist as a number

>>9030285
>you act like the concept of infinity doesn't exist math.
Where did I "act like" that? Are you illiterate as well as retarded? No one has infinite money and no casino gives away free money, regardless of math.

>>9030285
OK let's say you have infinite money to give away. Then money has no value and it doesn't matter how much one wagers since all amounts of money are equally worthless. Happy?

>>9030288
>>9030297
why don't you edgy fucks just cap it at 1*2^1000000? how's that for a realistic scenario fucker

>>9030301
Then it's still a scam since the casino would be losing money unless the buy in was over $1000000

>>9030248
The expected number of flips until the first failure is 2, so less than $4.

>>9030348
So if I offered you a 49% chance to win $100, you wouldn't pay $1 for that since you're expected to lose?

>>9030352
a single 49% chance is not the same situation as an infinite series of 50% chances

theoretically, some random asshole could wind up with a staggeringly large sum of money from this game. the vast majority of people, however, won't.

>>9030352
$1 is less than $4 so specifically I'd be willing to pay $1 even if there was only a 0.39% chance I'd win more than $100.

>>9030362
Then the expected number of flips should have no consequence for you.

>>9030367
Why wouldn't it? I'm not going to pay $100 to enter when there's less than a 1% chance I survive long enough to make my money back. Expected survival time is incredibly integral to that decision.

https://en.wikipedia.org/wiki/St._Petersburg_paradox

>>9030322
>>9030288
I dont understand what you two are saying
Who cares what the imaginary casino wants to pay or not
Also the chances of getting an infinite/ridiculous amount of consecutive head flips are next to impossible. It would be unlikely for most people to even get to 10 heads flips

>>9030322
Congrats looks like you just found your answer to OPs question

>>9030257

No, Martingale is double-or-nothing each time you *lose*, hoping to make everything back plus 1 dollar before you run out of money.

File: srth.png (292KB, 394x384px) Image search: [Google]

292KB, 394x384px

>>9030277
>no such thing as infinite money

>>9030248
Anything under 50 cents.

about $3