Gamblers/Statisticians

[DaytonBuck]

There is a betting for pride only game and certainly not violating any law game at my work that I need some advice about.

Hypothetically if one was betting money on it this is how it would work. For the OSU-Michigan game one would place a bet of 50 dollars and receive an envelope with two numbers between 0-9. One would be for Michigan and the other for Ohio State. At the end of each quarter if say I got Michigan 3 and Ohio State 7 I would win a 1,000 dollars for every quarter that the second digit of the score corresponded to the numbers from the envelope up to 4 quarters.

For example if the score at the end of the first was Ohio State 7 and Michigan 3 I would win. At the end of the second the score could be Ohio State 27 and Michigan 13 which would be a win and so on.

Why does everyone think about this as far as risk factor. I know that envolopes are random and the game is straight up.

 

[fourteenandoh]

its like a square pool, only you get the numbers in an envelope right?

 

[DaytonBuck]

its like a square pool, only you get the numbers in an envelope right?

yeah

 

[3074326]

its like a square pool, only you get the numbers in an envelope right?

I don't fit in envelopes, fyi

 

[DaytonBuck]

I don't fit in envelopes, fyi

 

[3074326]

Lots of emotions there, I'm not really sure how I feel at the moment.

 

[fourteenandoh]

there are 100 squares. 50/square so that is 5000 bucks. if it pays out 1st, 2nd, 3rd and 4th quarter thats only 4000 bucks. someone is taking 1000 dollars.

 

[DaytonBuck]

there are 100 squares. 50/square so that is 5000 bucks. if it pays out 1st, 2nd, 3rd and 4th quarter thats only 4000 bucks. someone is taking 1000 dollars.

So bad bet?

 

[matz2]

So bad bet?

Yes, 20% vig should be illegal...

 

[jimotis4heisman]

i think you can certainly find better odds in winning out there. but if you are into the same odds as everyone else and enjoyment of the office environment, sure... but ricky neuheisel thinks youre a chump for a $50 game...

 

[Buckeyeskickbuttocks]

So bad bet?

Worse...
It's an illegal bet if all the pooled money is not paid out.

Hypothetically, of course.

 

[bearonu]

Usually in those pools though the final score pays out more, so maybe it's $2000 for the winner of the 4th quarter?

 

[LoKyBuckeye]

who's running this game? Bernard Rubble?

 

[Buckeyeskickbuttocks]

who's running this game? Bernard Rubble?

That dude's selling me his tickets for the game. Gonna catch up to him at the Varsity Club before the game.

 

[DaytonBuck]

The excess is hypothetically donated to a charity