King has arrived

[Mission146]

I swear 97% of all members on these gambling forums are the cheapest people I know of.

For contributing a non-zero amount of free money to a game I take the time to run?

I will send you 300 dollars for the VCT Picks Game because Hell will Freeze over before you get that Wizard to agree that banned members can play in your WoV game!
300 Dollars is almost half of what that prick is begging for on his Diversity site... Diversity is ironic because I see nothing diverse about how he runs things.

Anyways I put up 300 in your Pay Pal account and you make the rules on how players are paid.

The only catch is... if I win the contest outright or I have the worst record I win double. Meaning I win my money back plus you pay me 300 on top of it, plus I win whatever the placement was for 1st or last.
Ties in placement count for me but I have to play every week meaning if I miss one week I forfeit any chance of winning.

Wait a minute, how is that double? That seems like it would be more than double if I make the prizes for first or last more than $0.00.

Anyway, it's just supposed to be a fun little game.

Also, say only five people play and I make the prize all $300 for first place:

Monet: First Place = $600 Last Place = $300 (of my money) No Place = $0

(1/5 * 600) + (1/5 * (300) - (3/5 * 300) = 0

Therefore, that's a $0 expectation for you with five players. It's a losing proposition for me, though, because here's what could happen, I could either win:

(300 * 1/5) = $60

I could lose and you come in last place:

(4/5) - (1/4 * 300) = -$74.20

I could lose and you come in first place:

(4/5) - (1/4 * 600) = -$149.20

Or, I could lose and you do not place:

(4/5) * (2/4 * 0) = 0

Therefore, my overall personal expectation is $60 - $223.40 = -$163.40

Do you think I'm stupid? You have a $0 expectation and my expectation is to lose more than I'm even donating to the WoV pool?

Adding more players would change my expectation, but all it would do is make it more negative. The reason why is because I can only win the $300 if I contribute it all to one prize and win that prize outright. Other than that, I can only break even or lose.