1. #1
    CGBatch
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    Join Date: 11-25-11
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    Probability of picking multiple events

    I'm in a contest where I have to pick the outcome of 5 sporting events per day. Recently they introduced a feature where you could win money based on achieving streaks of days where you get at least 3 of the 5 picks correct. In the 5 months I've played the game my picks have averaged 63% (I'm keen to calculate betting odds and individual games range from 50% to almost certainties; one recent pick was -1800). Using this I get 73.3% chance of getting at least 3 correct. The prize table goes as follows (and I've calculated the odds using the compounded 73.3%):

    Days Prize Odds EV
    2 $ 1 53.73% $ 0.54
    4 $ 3 28.87% $ 0.87
    6 $ 6 15.51% $ 0.93
    8 $ 10 8.33% $ 0.83
    10 $ 20 4.48% $ 0.90
    15 $ 50 0.95% $ 0.47
    20 $ 250 0.20% $ 0.50
    30 $ 1,000 0.01% $ 0.09
    50 $ 100,000 0.00% $ 0.02
    60 $ 1,000,000 0.00% $ 0.01

    Using the above my best option is the 6 days for $6 method as it generates a $0.93 EV.

    The newest update includes a feature where if you go 5-for-5 (roughly 9.92% chance using a 63% individual pick rate) it increases your streak by 2 days instead of one. I don't know how to incorporate this in the above math. I tried to calculate it as .6337 (odds of 3 or 4) +.0992*2=.8322, but I feel this no longer reflects the odds of getting less than 3.

    Lastly, as the above is predicated on the assumption of a long-term 63% can anyone suggest how to use odds for an individual day once known. For instance if I know a certain days picks give me a 60% or 80% chance of streaking, should I keep going or stop.

    Any help would be much appreciated! Also I don't know if it's against the rules of this forum but I can provide the name of the game and my referral code if anyone is interested.

  2. #2
    trytrytry
    All I do is trytrytry
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    Join Date: 03-13-06
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    where do you get this opportunity of +EV?

  3. #3
    trytrytry
    All I do is trytrytry
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    Join Date: 03-13-06
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    refer code no never do that...

    but intersting places for +EV gambling options ok to discuss..

    dont give the full web site link however, but describe it enough with a name or workds that a google search could find it is generally OK

  4. #4
    KVB
    It's not what they bring...
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    Join Date: 05-29-14
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    Quote Originally Posted by trytrytry View Post
    refer code no never do that...

    but intersting places for +EV gambling options ok to discuss..

    dont give the full web site link however, but describe it enough with a name or workds that a google search could find it is generally OK

    Never hurts to trytrytry!


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