I hesitate to get into this discussion but I'm going to give it a shot. I pretty much agreed with everything Three said. I see this as a math problem, when it comes to risking more than $500,000 with one flip of the coin to win a million. It doesn't make sense to me why anybody - no matter how wealthy they are - would risk more than $500,000 since at this point it'd be a negative EV situation.
I can see where the amount between 0 and $500,000 is dependent on a person's wealth and their need for money. At these levels it has nothing to do with math...it has to do with need. If a person needs the money, then they would obviously take less than $500,000 for the certainty of getting the money. The amount they would take would depend on how much they needed the money.
Just my two cents worth.
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