Originally Posted by
NunyaBidness
Why do you quote me back to me so often? This is what I've said for years on the board and in PMs to you.
Even if you were working 3 jobs to build your bankroll, it still may be worth it to 'take shots' to get your bankroll soaring, especially if your bankroll is a) replaceable and b) growing slowly, but only if c) you have a proven edge.
Utility isn't looked into enough when gambling in general, and can throw a lot of EV calculations out of whack.
Take for example a typical casino bonus, deposit $50 get a $50 bonus, with 40x playthrough. The correct way to play this assuming your bankroll is large enough that losing $50 is meaningless is to bet the entire $100 in one hand. But if you win, isn't betting $200 now the correct play? And then $400? According to the EV model you would continue doubling your bet to $3200. While $50 may be meaningless, $3200 rarely is. The EV model has broken down, and utility comes into play.