Captain Jack Andrews
4 years
When you bet parlays, you compound the house edge, much like compounding interest.
Had Mr. $3m bet $1m on each of these separately, his expectation would have been:
GB -$94,200
GA -$199,800
BAMA -$229,200
= -$523,200
But he'd have only a 5.57% chance of losing the full $3m.๐คจ