Eat the "cooked duck" to the mouth (2)
【Ways to Make Money Online】
1. When hedging bets, the purpose is to maximize the minimum return. In the calculation of this value, only the odds were considered, without considering the probability of winning (i.e. the probability of different outcomes of the event). This is a typical risk awareness.
2. Accidents are the occurrence of extremely unlikely events that cause great harm. Or it may be mistaken by the parties as a high probability event with low probability, or it may become a high probability event due to the accumulation of time. When there is a high probability of leverage, it can be used to form an unexpected airbag.
3. Due to the uncertainty inherent in ball games and the limited number of finals, bookmakers are unable to make the law of large numbers "manifest" through extensive repetition like playing Texas poker. So, even in situations where the subjective winning rate is high, hedging tail risk through an "insurance strategy" is still worthwhile for amateur gamblers.
4. In the above example, hedging sacrificed a small portion of expected values in exchange for some certainty, as evidenced by the uniform distribution of returns across different outcomes. The benefits of this uniform distribution on overall returns in multiple games will be mentioned later.
5. In the case, the gambler, as the game progresses, places bets on team B to hedge risks and achieve a stable outcome. This is also considered a type of Bayesian update, which evaluates past decisions and probability weights based on new information and updates the bet.
6. In Go, the dominant side has two directions to lock in the victory: one is to seize the victory and pursue, amplifying the advantage; One is to shorten the front line, or even proactively concede some benefits, so that the opponent has no chance of overturning. After all, for Go, winning half an eye is no different from winning 100 eyes.【Venice,Money making app,BlackJack Games,】