{"id":1261,"date":"2006-03-15T17:07:44","date_gmt":"2006-03-16T00:07:44","guid":{"rendered":"http:\/\/www.studioglyphic.com\/blog\/?p=1261"},"modified":"2010-12-16T21:58:49","modified_gmt":"2010-12-17T05:58:49","slug":"expected-value","status":"publish","type":"post","link":"https:\/\/www.studioglyphic.com\/blog\/2006\/03\/15\/expected-value\/","title":{"rendered":"Expected Value"},"content":{"rendered":"<p><a href=\"http:\/\/www.myspace.com\/philgordonpoker\">Phil Gordon<\/a> went to a charity event for the <a href=\"http:\/\/www.preventcancer.org\/\">Cancer Research and Prevention Foundation<\/a> and did a little gambling:<\/p>\n<blockquote><p>They had a raffle for some brilliant prizes, and being the sorta guy I am, I decided to take a shot.  Raffle tickets were selling for $25 a piece until you go to the $500 donation level when they went for $20 a piece.  At a $1000 level, you get 100 tickets ($10 a ticket).  Everyone seemed to be buying $25 tickets, so I thought what the hell, lets make a nice sizable donation&#8230;. I bought $2000 worth and got 200 tickets in exchange.  Then, I found out that I bought them from the &#8220;wrong girl&#8221; and that there was a contest going on whereby the girl with the most tickets sold got a prize.  So, I ended up buying another $2000 in tickets.  $4000 in tickets purchased in all.  By my calculations, I had about 1\/3 of the tickets in play.<\/p>\n<p>To make a long story short, I won the top two prizes:<\/p>\n<p>Two round trip tickets to Sydney on Qantas in the &#8220;sleeper&#8221; seats plus 6 nights at the Sydney Harbor Marriott.  $25k value.<\/p>\n<p>and&#8230;<\/p>\n<p>Two round trip business class tickets to anywhere in Europe courtesy of American Airlines.  $18k value.<\/p>\n<p>$43,000 for $4000.  Not bad.  My girlfriend was extremely happy as well, as you might imagine.<\/p><\/blockquote>\n<p>So if he had 1\/3 of the tickets in play, and we assume the other 2\/3 were purchased at $25 per ticket, he contributed 20% of the donation pool for a 33% chance of winning at least one prize and ended up with an ROI of 1075%. Not bad.<\/p>\n<p>Read more at <a href=\"http:\/\/www.myspace.com\/philgordonpoker\/blog\/97587014\">his MySpace blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Phil Gordon went to a charity event for the Cancer Research and Prevention Foundation and did a little gambling: They had a raffle for some brilliant prizes, and being the sorta guy I am, I decided to take a shot. Raffle tickets were selling for $25 a piece until you go to the $500 donation [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[3],"tags":[],"class_list":["post-1261","post","type-post","status-publish","format-standard","hentry","category-poker"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/psIKy-kl","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.studioglyphic.com\/blog\/wp-json\/wp\/v2\/posts\/1261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.studioglyphic.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.studioglyphic.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.studioglyphic.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.studioglyphic.com\/blog\/wp-json\/wp\/v2\/comments?post=1261"}],"version-history":[{"count":2,"href":"https:\/\/www.studioglyphic.com\/blog\/wp-json\/wp\/v2\/posts\/1261\/revisions"}],"predecessor-version":[{"id":2151,"href":"https:\/\/www.studioglyphic.com\/blog\/wp-json\/wp\/v2\/posts\/1261\/revisions\/2151"}],"wp:attachment":[{"href":"https:\/\/www.studioglyphic.com\/blog\/wp-json\/wp\/v2\/media?parent=1261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.studioglyphic.com\/blog\/wp-json\/wp\/v2\/categories?post=1261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.studioglyphic.com\/blog\/wp-json\/wp\/v2\/tags?post=1261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}