An old man walks up to you....

[R4tt3xx]

An old man walks up to you and wants you to make a little wager, the game is as follows.

Pay one dollar to play the game. You have to roll a 5 or 6 on a 6 sided dice, for each success he gives you a dollar and takes away one dice, for each failure, the next time you play, you roll an additional dice. Basically in order to get something out, you have to put something in.

In this scenario you start off with ZERO dice and pay the man a dollar, he then gives you one extra dice to play with in your second game. If you fail, he gives you yet another dice. Eventually you will have so many die (sorry if the spelling is correct) that one of them is bound to succeed, problem is, the next roll will have a lower probability of gaining a dollar back. The old man cannot really loose in this scenario.

If you decide to walk away, you forfeit all your die, and his next participant starts the game with that many die. It all balances and makes the old man a ton of cash.

 

[Wed]

Are you calling MA old?

 

[Falagor]

Old man always win but... if i can ask old man how many dices are already in game then i could do so:
ask him how many dices are there:
if more than 2 - i play. (for example if there are 5 dices then i pay one dollar - roll 6 dices and expected value is 2 dollars for me ).
If equal 2 - then its fair play . (paying one dollar - expected return for me is one dollar).
If less than 2 - then i wait for another fool who may come and fill the dicepoll .

Falagor

 

[R4tt3xx]

Old man always win but... if i can ask old man how many dices are already in game then i could do so:
ask him how many dices are there:
if more than 2 - i play. (for example if there are 5 dices then i pay one dollar - roll 6 dices and expected value is 2 dollars for me ).
If equal 2 - then its fair play . (paying one dollar - expected return for me is one dollar).
If less than 2 - then i wait for another fool who may come and fill the dicepoll .

Falagor

Our min deposit is $10 so you are playing at least 10 times in this scenario, each attempt takes away a dollar regardless of outcome, so it really does not matter how many die are in the pool, you will have to be EXTREMELY lucky to walk away with the PED in order to make a withdrawal.

I have been watching a lot of vids on probability, number and game theory.

 

[Falagor]

Our min deposit is $10 so you are playing at least 10 times in this scenario, each attempt takes away a dollar regardless of outcome, so it really does not matter how many die are in the pool, you will have to be EXTREMELY lucky to walk away with the PED in order to make a withdrawal.

I have been watching a lot of vids on probability, number and game theory.

I do not understand this reply OR the game then .
What min $10? .

Basicly i said that if i know the number of dice ingame before deciding if i want to play then i would know if i should play or should not .

Example: if i get response there are 11 dices in the game then i definetly decide to play:
i put one dollar and roll 12 dices = i should get expected value of 4 dollars.
If i get response that there is only one dice ingame then i wait for someone else to "invest" in the game .

Of course if i can know number of dice ingame after deciding to play (so i payed at least one dollar) then it is obvious i would never play (of course this includes i have no other way of knoiwing how many dices are ingame like asking previous participant etc).

Falagor

 

[jjmatrix]

Our min deposit is $10 so you are playing at least 10 times in this scenario, each attempt takes away a dollar regardless of outcome, so it really does not matter how many die are in the pool, you will have to be EXTREMELY lucky to walk away with the PED in order to make a withdrawal.

I have been watching a lot of vids on probability, number and game theory.

Right; except that you forgot the option that you can throw for $1 10 times, you can throw 1 time for all $10 or you can choose to throw once for 1 cent, which causes you to "play" with 1000 throws.

Oh yeah... and you could also stick around the old man and intercept customers telling them that for 2 cents, you can stand beside them bringing luck; or, you could hold an umbrella over them while throwing for 1 cent .
Also, you can bring them a bottle of water from the store across the street for a small MU.

 

[Zorander]

Getting ready to hit Vegas?

 

[Oleg]

Eventually you will have so many die (sorry if the spelling is correct) that one of them is bound to succeed

How many die are required to reach this point?

CLUE: There is no correct answer to this question.