2/8/2011 7:26:13 PM by BadBeatBodog
It's expected growth. EV vs. EG is growth vs. value and when we're talking about futures bets we are definitely concerned with EG. I will quote a Ganchrow post, for obvious reasons:
"The fundamental issue with bets such as these is that, despite being positive EV, placing them is an excellent way to go broke. The apparent contradiction is easily reconciled. If you were to repeat this bet once in each of a gigantically huge number of parallel universes, in nearly all of the universes you?d lose your bet, but in a tiny, tiny, tiny, tiny, tiny fraction of those...