[Youtube Review][Veritasium] Would You Take This Bet?

(Recommended)Popular Videos : [Veritasium] Would You Take This Bet?

 

This time, I will review the popular YouTube videos.

These days, even if it's good to watch on YouTube, sometimes people skip it or don't watch it if it's too long.

When you watch Youtube, do you scroll and read the comments first?

To save your busy time, why don't you check out the fun contents, summary, and empathy comments of popular YouTube videos first and watch YouTube?

(Recommended)Popular Videos : [Veritasium] Would You Take This Bet?

https://www.youtube.com/watch?v=vBX-KulgJ1o

 

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Playtime Comments : [Veritasium] Would You Take This Bet?

17***********************************:

3:30 We have reached the peak of human intelligence.

Ta**:

3:15 This lady didn't learn Expected Value in Mathematics.

St**************:

3:33 “what about 100 times?” That’s called a gambling addiction

Co*************:

6:05 well guess that bet turned out well

Gi*****:

The transition at 4:51 made his head look bigger.

Me*******:

5:00 that is false because it also assumes two things: that the odds are in your favour in most of the things in life and/or that positive outcome bets weight heavier than negative outcome bets, none of which is certain.

La**********:

3:35 what is she talking about she wouldn't taker the bet that is absurd because at the end u will always be gaining WoW

St*************:

This is so true i got so much in a game and then lost it all in less than 3 seconds and was so upset. 2:30

Do***********:

3:20 wtf so stupid.
If it's a $20-$10 bet, and the probability is 50/50, and you flip it 10 times, statistically speaking you will walk away with money almost guaranteed.

kn******:

3:15 I didn't think people could get this stupid...

 

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Top Comments : [Veritasium] Would You Take This Bet?

Ki**************:

It reminds me of the saying, ‘A bird in the hand is worth two in the bush.’

But I’m not sure if it’s exactly the same. #tired

Et*********:

Good video. I grew up in Las Vegas, and we had some professional gamblers (poker) in our circle of friends, so I immediately yelled at the screen when those people said they wouldn't take the 2:1 action.

fa*****:

"But is there is a way to overcome our over sensitivity to losses?"
Yes, have you been to the Casino lately?

Lu**********:

"I'm thinking more about what I lose than what I win" - Lady. But this is a shocking revelation.

So****:

5:56 Derek: "I'm funding myself. That's honestly my money".
Recommendation in the right corner: "The illusion of truth".
Hmmmm....

Je***:

Give the $12 to $10 odds to someone standing outside of a casino and they'll take that bet every day lol

Ma***********:

2nd time watching it, I had the same thought again.

I must be weird because I'd take the bet at $10 VS $10

Au********:

I would've taken $12:$10

Sh********:

i lost 2300 dolars after watching this video

Ma***********:

That moment you realise this video is 5 years old...

Mo***********:

Thanks for doing this in Australia

Ch***********:

“If this video gets 500,000 views it will be a positive bet”
Video currently sitting on 4.8 million views

Th*********:

Hi, I am a professional gambler (I trade equity options for a living). Great video, just one small note: In real life, if you end up at zero, you can't bet again, and then you are stuck at zero indefinitely and need to go and get a real job. Because once you are at zero, you have no more money to gamble with. For example: even with a fair coin toss, if you play long enough then ten heads in a row will eventually happen, and if you bet all your money on tails you will be broke. So you have to structure the bets such that you can never end up at zero, and that is where most of the challenge is because that will always introduce new constraints and added costs.

Sk*********:

Stranger: "Whose funding you?"
Veritasium: "Nobody is funding me"
20 seconds Later: Sponsored by audible.com

Th***************:

woman says: "i hate losing money"
4.7 million people: "wow, interesting"

sa******:

csgolounge users can learn from this

Vi*********:

when you start watching the video and think " well hes going to talk about loss aversion" and then he does hahahahahaha

De**********:

at first the strangers he asked sounded smart and then suddenly they sounded way dumber than a 7
year old

Ja******:

"I'd only make money if this gets half a million views".3,127,911 views later, haha.

Er*********:

Catch the coin in the air and run off.

Me*:

"i need half a million views"

4.2 Million views later

De******:

Losing money you accounted for > gaining money you didn't account for


Stability has a value of its own.

to**********:

You'd have to give Donald Trump a small loan of a million dollars to get him to take the risk

Ai***:

He flew all the way to Australia just to use our AWESOME bank notes

5G*****:

Wow, that idea of analizing separate events as parts of a group is brilliant. I hadn’t ever thought of that. I’ll probably have that in mind in the future

Je********:

A little extra math for anyone interested.

The long term expected value was hinted on in the video by saying that over 100 bets, you expect to win $500, with a 1/2300 chance of losing money. To explain this better you have to understand the relationship between expected value and variance (or standard deviations).

In his 10 vs 20 bets, the player's expected value is +$5 per bet. The standard deviation of each bet is $15, that is to say the player's expectation is $5 +/- $15.

Now, in the long term, expectations are linearly proportional whereas the standard deviations are proportional to the square root of the number of trials.

So for 100 bets, the player's expectation is +100*$5 (+$500). The standard deviation is sqrt(100)*$15, or $150.

One standard deviation away from the mean encompasses roughly 2/3 of all possible outcomes. Therefore the player after 100 bets, has a 2/3 chance of being up between $350 and $650.

Apply that math even farther, say 1,000,000 bets.
Expectation = $5,000,000
Standard Deviation = sqrt(1,000,000)*$15 = $15,000.

As the sample size grows, the standard deviation becomes a smaller and smaller proportion of the expected value.

This is the math that card counters, casinos, and even stock brokers rely on to make money.

SF*********:

Me: YAY I LOST 1 POUND

Me: gains 3 pounds: IDC

Fa*****:

i'd say let me flip the coin... then just run of with it. INSTANT PROFIT

 

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[Veritasium] We gathered comments about popular videos and looked at them in summary, including play time, and order of popularity.

It's a good video or channel, but if you're sad because it's too long, please leave a YouTube channel or video link and I'll post it on this blog.

 

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