Jun. 12th, 2008

peterbirks: (Default)
Texan billionaire Allen Stanford is putting up a $20m prize for a single Twenty20 cricket match. I make that +EV of $3,787.88 per ball for each and every player. Even at today's lethargic over rates that's pretty good pay. There's some volatility involved, mind. Half the players earn $7,575.76 a ball, and half earn nothing. But when you are used to only 10% getting into the prize money, that still seems a good deal.

Unfortunately, Texan billionaire Allen Stanford ballsed it all up. He appeared before a vault stacked with $50 bills. As any poker player who has been to Vegas will tell you, the Ulysses S Grant is the naffest bill in Federal issue. People don't want to be paid in them. They are too large to be changed in a number of small stores ("No bill larger than a twenty") and yet if you have a roll, they take up twice the space as 100s. And, let's face it, they don't have the caché of a Franklin.

But what puzzles me is why? Is it to make the prize look bigger? In which case, why not twenties?

++++++++++++++++

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