Why do people say if the ratio of CE/WR is < 0.5 that means you are overbetting and if the ratio is > 0.5 than you are underbetting?
As a matter of fact, if CE = WR, wouldn't that mean the counter is extremely prone to risk and will not settle for anything less than his WR? For example, if his WR is $50/Hr with BJ, and he could earn $49/Hr at a regular job, he would forgo the $49/Hr and take the risky proposition of BJ in order to have a chance of realizing his $50/Hr expectation.
Now, could somebody please explain to me what about the aforementioned example implies the counter is 'underbetting' his BR? As he is prone to risk, wouldn't this mean that he is overbetting his BR?
MJ
As a matter of fact, if CE = WR, wouldn't that mean the counter is extremely prone to risk and will not settle for anything less than his WR? For example, if his WR is $50/Hr with BJ, and he could earn $49/Hr at a regular job, he would forgo the $49/Hr and take the risky proposition of BJ in order to have a chance of realizing his $50/Hr expectation.
Now, could somebody please explain to me what about the aforementioned example implies the counter is 'underbetting' his BR? As he is prone to risk, wouldn't this mean that he is overbetting his BR?
MJ