Betting Quiz!
Edited Version: No prizes I am afraid! But I thought I would post this quick question on probability. I will post the answer in a day or two. See if you get it right:
A barrel contains ten large balls - seven blue balls and three red balls.
The blue balls each contain one-hundred pounds (winners!) wheras the red balls each contain I.O.U's for one-hundred pounds (losers!) .
You are offered a bet that you cannot draw two blue balls without drawing one red ball.
Should you take the bet?
posted by Betting Exchange Trader
What odds is the bet offered at?
By 
Cassini, at
4 August 2009 00:45
Good point Cassini! Even money (1/1) I'm afraid.
By Betting Exchange Trader, at
4 August 2009 09:46
Hmmm. Well, my first instinct is to take the bet thinking that the 300 balls will be drawn roughly 7 to 3 in favour of blue, and that 300 balls should be pulled 210-90 making the bet value, but I suspect there may be a catch...
By Cassini, at
5 August 2009 02:49
Yes post blog note: the question should be phrased "7 Blue balls and 3 Red balls" Due to unlikihood of drawing 100 Blue before any Red - thanks Cassini.
