We did about as well as expected (pre-tax profit of ~$7k each). Plus we got to hike in the snow. So overall a pretty good trip!
Though if one or another long odds bet had gone different it could easily have swung our profits by 50% in either direction. We intentionally took on extra risk to maximize expected value
The opportunities are getting worse and worse over time so your EV will be lower
Sorry for the late followup!
We did about as well as expected (pre-tax profit of ~$7k each). Plus we got to hike in the snow. So overall a pretty good trip!
Though if one or another long odds bet had gone different it could easily have swung our profits by 50% in either direction. We intentionally took on extra risk to maximize expected value
The opportunities are getting worse and worse over time so your EV will be lower
Some friends and I are going to Colorado in early March to try this out. "Pre-registering" now that I'll report how it goes.
Since New Jersey has more licensed operators, what extra consideration made you and your friends choose Colorado?