Poker speeding tickets and expected value

Lottery tickets prove useless when viewed through the lens of expected value. If a ticket costs $1 and there is a possibility of winning $500,000, it might seem as if the expected value of the ticket is positive. But it is almost always negative. If one million people purchase a ticket, the expected value is $0.50. Poker, Speeding Tickets, and Expected Value: Making Decisions in an Uncertain World - FeedBox Lottery tickets prove useless when viewed through the lens of expected value. If a ticket costs $1 and there is a possibility of winning $500,000, it might seem as if the expected value of the ticket is positive. But it is almost always negative. If one million people purchase a ticket, the expected value is $0.50.

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Poker Hands - Expected Value chart by position

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Fair Division

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Expected Value in Online Poker (EV) Calculating and Understanding Positive and Negative EV. The game of poker is full of successes, bad beats, and flat out stupid plays. In some sort of contorted and twisted justification, many poker players will call bets while on huge draws and go all in with no less...

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