Current Events > Wait, how does "double or nothing" work?

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We bet $100 on a race

I win he loses

We agree to double or nothing and i lose and he wins

Are we even after that, or do I owe $100? I assumed I would owe because we doubled the bet of the second race to $200, but he's saying it just cancels out.

I'm not gonna complain either way

you're even

you owe $100

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it's double or nothing for you, the winner of the original bet

Youre even

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Omnislasher posted...

you're even

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It cancels out. Hes betting an extra 100 on the chance to pay nothing and get nothing.

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Either i pay you $200, if you win, or nothing because the 2nd time i won negating the $100.

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The 'nothing' refers to the previous winner, just like the 'double' does. So you're even.

It's literally called "Double or nothing" it means that if he loses the second time he has to pay double but if he wins he has to pay nothing.

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oh yea, nevermind.

if he wins, you're even, and if he loses, you're owed $300.

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Holy shit what?

I thought TC would owe 200

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It's the risk the loser of a bet can take to get out of paying up. Double or nothing means the loser of the first bet either pays nothing, or pays double.

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you're just making the same bet again. if the outcome is the same, the loser owes for both bets. if the outcome is flipped, the stakes cancel out.

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it's meant to get the loser out of a debt, not to screw over the winner like crazy

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Its just a way of saying lets bet the same again


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your even

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That's why you always go for triple or nothing

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Let's say you both start with $1000.
1000|1000
You win 100
900|1100 - (he owes 100)

Double or nothing is just another $100 bet.
if you win again:
800|1200 - (he owes 200, double)
if you lose:
1000|1000 - (he owes nothing)

You might be confusing this with the Martingale betting system where you double each losing bet:
Next match is $200.
If you win:
700|1300
If you lose:
1100|900

An easy way to solve this is just pretend to "cash out" every round, which is what you see in the numbers above. You win the first round, he pays $100, you lose the second round, he pays $100. No you're even, but since you cashed out each round it's easy to track.

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double or nothing is a scam

LordFarquad1312 posted...

That's why you always go for triple or nothing

yep.

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You guys bet $100 on a race. You win, you got $100. He wants to bet double or nothing, If you win, you get $200 on top of the $100 you won earlier. If you lose, you lose the original $100.

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DirkDiggles posted...

You guys bet $100 on a race. You win, you got $100. He wants to bet double or nothing, If you win, you get $200, If you lose, you lose the original $100.

It's more like,

You bet $100 on a race. You win. Instead of giving you the $100, the guy offers double or nothing. If you win again, he gives you $200. If he wins, no money changes hands.

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DirkDiggles posted...

You guys bet $100 on a race. You win, you got $100. He wants to bet double or nothing, If you win, you get $200 on top of the $100 you won earlier. If you lose, you lose the original $100.

This is wrong.

It's literally called "double or nothing" that means the 2 outcomes are you getting double or nothing.

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