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Am I Making a Good Bet? Part Three

by Steve Zolotow |  Published: Nov 09, 2016


Keep asking this question. It is the essential question that a poker player or for that matter any gambler must continually keep asking. Every good bet has positive expected value (also known as EV or expectation.) In general, you should only make good bets or at least bets you think are good. There are two major exceptions. It is okay to make bad bets for entertainment. Sports betting is a typical example. The second exception is betting for long-term gains in equity, even those that have negative EV on this particular bet. It might be necessary to make a few bad bets to keep getting invited to a juicy private game. In all cases, whenever you are considering a bet, always strive to make the best bet possible. Best usually means the most gain for the least risk. When you are considering a bet, especially one with questionable or negative ...

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