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Transfer an error to $$$

Posted By: Daniel Murphy
Date: Saturday, 20 October 2012, at 2:26 p.m.

In Response To: Transfer an error to $$$ (Robert Andersson)

An error in GWC of X reduces equity by 2X.

If, for example, you had resigned before the game started, you would have reduced your GWC from 0.5 to 0, a difference of 0.5, and (against an equal player) reduced your equity, or expectation, from zero to -1, a difference of 1. Thus your GWC error of 0.5 would have reduced your expectation by 1 times the stake.

In your example:

(0.5003 - 0.4882) * 2 = 0.0242, 0.0242 * $100 - $2.42

0.5003 - 0.4997 = 0.0006, 0.4882 - 0.5118 = -0.0236, 0.0006 + 0.0236 = 0.0242, 0.0242 * $100 = $2.42

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