Strategy

Weigh odds

Put numbers on uncertainty instead of going on gut feeling.

Why it matters

Rough numbers beat vague feelings. Saying 'about one in four' lets you compare options, notice when a cheap risk is worth taking, and see when a price is too high for your chances.

The question to ask

Roughly how likely is this, and what is it worth if it happens?

At work

Before a launch, estimate how likely each outcome is and what each is worth, instead of planning only for the one you hope for.

In study

When choosing courses or applications, estimate your real chances for each and spread your effort to match.

Lessons

Shown and practised in poker: Outs and odds, Worth it on average, Odds for later.

Practise it in a game, about five minutes against bots: the Which bag? lab.

Use it in a work case, a short story of linked decisions: The quiz night, Your first job.

New to poker? Play your first hands, with a coach at every decision. Practice points only.

Practise and review

Questions from every lesson above, in mixed order. You do not need to finish a lesson first.

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Review Weigh odds questions

In the reference

  • Regression to the meanWhen a result is part skill and part luck, an extreme result is usually followed by a more ordinary one, whatever you do.
  • Start from the base rateBefore judging one case, ask how often cases like it turn out each way. Start from that, then adjust for what this case shows.