who reads this? by Andy J. Biery

Friday, March 9, 2007

How much would you pay for a particular outcome?

Filed under: K-State Sports — Andy @ 9:16 pm

K-State and ku play again tomorrow in basketball and since I like to bet on sports I had to figure out how much I would put on kansas to win.  Ku is a 6-1 favorite to win outright (meaning you bet $6 to win $1) which equates to about an 86% chance to win. 

I went ahead and put $30 on kansas to win $5 in hopes that really I’d be happy either way.  K-State wins, I get to enjoy that (rare) feat, and it cost me $30.  ku wins and I win $5 (and keep my original $30). 

So….could i go even more?  Up to $50?  At what point am I pissed K-State wins?  Tough call.  Right now its $30, i might go to $40 but not sure yet.  K-State has SOME chance, but not much, probably 10%, which makes the $30 bet good. 

These are the things degenerates have to contemplate on a regular basis.

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