I am willing to take constructive criticism. I just don't need comments coming at me like "your a books dream" or whatever was said. When I agreed with him that if I was risking a higher amount on this wager buying back or the term buying back would be dumb and not very good money management.
He put $40/$29.63 on Tampa -135. Or maybe it was $40.50/$30
Assuming it's the ladder and he puts $35.22 on Toronto +115 (and the Blue Jays win), he "bought back" his bet.
If his goal is to buy it back (which it shouldn't be because at +115 it's still a -EV wager), this is what he should do.
OMG.
"I put in Rays at -140 for 40$ to win 30$"
Doesn't make sense, $40 on -140 would be $28.57, but whatever.
You advising him to bet the Blue Jays at -EV is dumb. The only bet worth making is Toronto at +125 since that's +EV.
Betting both sides of a game at -EV is giving the book free money.
IF he wanted to minimize loss, he would risk an arbitrage amount to minimize his loss on the -EV side. That amount would be $22.86 at +125. His net loss would be $1.43.
Alternatively, and the best suggestion, he would be wise to simply write off the -EV wager, and risk a Kelly stake of .92 units on +125 to win what is the edge of 1.15 units
Problem being is he likely doesn't have a bankroll and doesn't play by units. The bigger problem being he doesn't wish to learn.
