dryflyelk
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LAST EDITED ON Jan-20-11 AT 08:30PM (MST)[p]A little perspective on the odds of the expo, using last year's numbers, simplified based on what we've been given by SFW. I may be way off here, but I think it's close.
Let's take the example of brothers Joe and Ted.
Joe decides to put in for all the deer and all the elk tags. He spends $290, and his odds of drawing elk are 1/107, and deer is 1/219. Combined odds are 1/143 that he'll draw one of those tags.
Ted decides to take his money and go to Wendover. He likes to gamble, so he uses his $290 and puts it all on a single number on the roulette table. The odds of him hitting that number are 1/38 and his payout would be 35/1. If it hits, he'd make $10,150.
Ted's odds of winning are 3.7 times as good as Joe's chances. If he wins, he plans on buying whatever deer or elk tag he wants at a banquet. There would be a couple he couldn't afford, but he's ok with that. He may even use the extra money to buy a tag for his brother.
Which brother would you rather be?
Let's take the example of brothers Joe and Ted.
Joe decides to put in for all the deer and all the elk tags. He spends $290, and his odds of drawing elk are 1/107, and deer is 1/219. Combined odds are 1/143 that he'll draw one of those tags.
Ted decides to take his money and go to Wendover. He likes to gamble, so he uses his $290 and puts it all on a single number on the roulette table. The odds of him hitting that number are 1/38 and his payout would be 35/1. If it hits, he'd make $10,150.
Ted's odds of winning are 3.7 times as good as Joe's chances. If he wins, he plans on buying whatever deer or elk tag he wants at a banquet. There would be a couple he couldn't afford, but he's ok with that. He may even use the extra money to buy a tag for his brother.
Which brother would you rather be?