# Interesting betting situation in Jeopardy **URL:** \ **Category:** The Game Room\ **Created:** [February 20, 2019, 8:27pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919 "2019-02-20T20:27:28Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![K364](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/k364/32/5_2.png) [@K364](https://boards.straightdope.com/u/K364)\ **Post date:** [February 20, 2019, 8:27pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/1 "2019-02-20T20:27:28Z")
A couple days ago - [https://youtu.be/6aeBm6PwA-w?t=1004](https://youtu.be/6aeBm6PwA-w?t=1004) Going into FJ: 1st - 13,400 2nd - 9,200 3rd - 8,400 So, it followed SOP whereby 1st assumed 2nd would go all-in so 1st bet to cover that plus a dollar… that amount was 5,001. 3rd realized that the only way she was going to win was if there was a tough question\* and both 1st and 2nd got it wrong… so she bet nothing and won by a dollar. \*it was not a tough question but the three of them still got it wrong. ---
**Author:** ![Riemann](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/riemann/32/3133_2.png) [@Riemann](https://boards.straightdope.com/u/Riemann)\ **Post date:** [February 20, 2019, 9:10pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/2 "2019-02-20T21:10:42Z")
Could you explain the betting rules & objectives for those of us unfamiliar with the show? ---
**Author:** ![AngelSoft](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/angelsoft/32/440_2.png) [@AngelSoft](https://boards.straightdope.com/u/AngelSoft)\ **Post date:** [February 20, 2019, 9:19pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/3 "2019-02-20T21:19:46Z")
> [@Riemann](#): > > Could you explain the betting rules & objectives for those of us unfamiliar with the show? Most money wins basically. You bet a certain amount of your available money that you’ll answer the question right. If you get it right, you get that money added to your total. Get it wrong, it gets removed. Player 1: Has 13,400. Best 5001 that they’ll answer it right. If they get it right, their total ‘score’ is 18,401. They get it wrong, it’s 8,399 (13400-5001) Player 2: Wants to win so bets the whole shebang. Bets 9,200 they’ll get it right. If they had, they’re score would be 18,400. Getting it wrong drops them to 0. Player 3: Sees they have little chance of winning by betting anything at all so bets 0. They all get it wrong. Final scores are: Player 1: 8399 Player 2: 0 Player 3: 8400 Player 3 wins by 1 by doing nothing and answering wrong lol ---
**Author:** ![Folly](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/folly/32/3219_2.png) [@Folly](https://boards.straightdope.com/u/Folly)\ **Post date:** [February 20, 2019, 9:25pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/4 "2019-02-20T21:25:29Z")
Nitpick, in this case 9,200 guy didn’t do the expected thing and only bet 7,601. ---
**Author:** ![AngelSoft](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/angelsoft/32/440_2.png) [@AngelSoft](https://boards.straightdope.com/u/AngelSoft)\ **Post date:** [February 20, 2019, 9:40pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/5 "2019-02-20T21:40:33Z")
> [@Folly](#): > > Nitpick, in this case 9,200 guy didn’t do the expected thing and only bet 7,601. Did they? I didn’t see the actual episode, I just was guessing off what the OP said. What’s the strategy in that? It beats out Player 1 if they don’t bet at all but that’s unlikely and even if it did happen, why such a specific number like 7601? And even if Player 1 loses their first place for whatever reason, Player 2 is still relying on Player 3 to bet the farm and lose in the case where Player 2 got the answer wrong as well. It’s like Player 2 is basing their strategy on everyone getting the answer wrong while also betting their entire pool of money. Disclaimer, math is not my strong suit lol So I’m probably missing something obvious here. ---
**Author:** ![Riemann](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/riemann/32/3133_2.png) [@Riemann](https://boards.straightdope.com/u/Riemann)\ **Post date:** [February 20, 2019, 9:48pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/6 "2019-02-20T21:48:39Z")
Ok, so there’s one question left, you can stake as much of your bank as you want on your own answer to that question, and the only thing that matters is who has most nominal money at the end - if you have less nominal money than the winner, you get nothing? ---
**Author:** ![Folly](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/folly/32/3219_2.png) [@Folly](https://boards.straightdope.com/u/Folly)\ **Post date:** [February 20, 2019, 9:50pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/7 "2019-02-20T21:50:02Z")
I can kiiiiinda see it. Assumption, top player wants to stay at 10k or above even if they don’t know the answer. Therefore, they won’t bet more than 3400. I’ll bet enough to take me to 16801 if I get it right and the top person gets it right. ---
**Author:** ![AngelSoft](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/angelsoft/32/440_2.png) [@AngelSoft](https://boards.straightdope.com/u/AngelSoft)\ **Post date:** [February 20, 2019, 9:50pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/8 "2019-02-20T21:50:47Z")
> [@Riemann](#): > > Ok, so there’s one question left, you can stake as much of your bank as you want on your own answer to that question, and the only thing that matters is who has most nominal money at the end - if you have less nominal money than the winner, you get nothing? Per Wiki: > [@](#): > > Non-winners receive consolation prizes. Since May 16, 2002, consolation prizes have been $2,000 for the second-place contestant(s) and $1,000 for the third-place contestant. Since the show does not generally provide airfare or lodging for contestants, cash consolation prizes alleviate contestants’ financial burden. ---
**Author:** ![TroutMan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/troutman/32/6721_2.png) [@TroutMan](https://boards.straightdope.com/u/TroutMan)\ **Post date:** [February 20, 2019, 9:55pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/9 "2019-02-20T21:55:08Z")
> [@Folly](#): > > Nitpick, in this case 9,200 guy didn’t do the expected thing and only bet 7,601. Right, and this is where it helps to think more than one step ahead. The 2nd place person guessed the leader would bet $5001. If they bet it all and both people get the right answer, they still lose by $1. If they get it right and the leader gets it wrong, they win no matter what they bet. But if they both get it wrong, the leader will presumably be left with $8399, so the 2nd place person will win as long as they bet less than $801. Unless the leader thinks of this too, and therefore bets $3399. That way if 2nd place bets $800 and gets it right, they have $10,000. The leader is left with $10,001 if they get it wrong and still wins. You can keep going down this rabbit hole trying to guess what the opponent will do and determine the perfect counter-bet. I haven’t followed it far enough to find any sense in the bet of $7601. ETA: **Folly** has it right, that bet makes sense if you think you both will get it right. ---
**Author:** ![Folly](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/folly/32/3219_2.png) [@Folly](https://boards.straightdope.com/u/Folly)\ **Post date:** [February 20, 2019, 9:58pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/10 "2019-02-20T21:58:44Z")
Turns out there was Iocaine powder in both goblets. ---
**Author:** ![Atamasama](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/atamasama/32/12961_2.png) [@Atamasama](https://boards.straightdope.com/u/Atamasama)\ **Post date:** [February 20, 2019, 10:12pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/11 "2019-02-20T22:12:26Z")
> [@Folly](#): > > Turns out there was Iocaine powder in both goblets. Never go into Final Jeopardy against a Sicilian when DEATH is on the line! ---
**Author:** ![Larry\_Borgia](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/larry_borgia/32/156_2.png) [@Larry\_Borgia](https://boards.straightdope.com/u/Larry_Borgia)\ **Post date:** [February 20, 2019, 10:45pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/12 "2019-02-20T22:45:23Z")
I can’t believe no one knew the right answer. ---
**Author:** ![AngelSoft](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/angelsoft/32/440_2.png) [@AngelSoft](https://boards.straightdope.com/u/AngelSoft)\ **Post date:** [February 20, 2019, 10:55pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/13 "2019-02-20T22:55:34Z")
> [@Larry\_Borgia](#): > > I can’t believe no one knew the right answer. Well everyone knew what the right answer was. But they didn’t know what the right question was. ---
**Author:** ![jaycat](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/jaycat/32/3015_2.png) [@jaycat](https://boards.straightdope.com/u/jaycat)\ **Post date:** [February 20, 2019, 11:00pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/14 "2019-02-20T23:00:35Z")
Even I knew the right answer. And I hate science fiction. ---
**Author:** ![Mr\_Shine](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/mr_shine/32/464_2.png) [@Mr\_Shine](https://boards.straightdope.com/u/Mr_Shine)\ **Post date:** [February 20, 2019, 11:05pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/15 "2019-02-20T23:05:59Z")
We don’t get Jeopardy here but I dislike from the context of the questions given the fact such lazy questions would have presumably been accepted, if they were the correct questions. It should be who is **Isaac** Asimov?, who is **Arthur C** Clarke? and who is **Jules** Verne? Lazy answering like that annoys me on quiz shows and should be ruled incorrect. ---
**Author:** ![Larry\_Borgia](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/larry_borgia/32/156_2.png) [@Larry\_Borgia](https://boards.straightdope.com/u/Larry_Borgia)\ **Post date:** [February 20, 2019, 11:21pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/16 "2019-02-20T23:21:01Z")
> [@Mr\_Shine](#): > > We don’t get Jeopardy here but I dislike from the context of the questions given the fact such lazy questions would have presumably been accepted, if they were the correct questions. It should be who is **Isaac** Asimov?, who is **Arthur C** Clarke? and who is **Jules** Verne? Lazy answering like that annoys me on quiz shows and should be ruled incorrect. Jeopardy has always accepted last names only, unless clarification is needed. If a last name is ambiguous, Alex will ask for clarification. ---
**Author:** ![TroutMan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/troutman/32/6721_2.png) [@TroutMan](https://boards.straightdope.com/u/TroutMan)\ **Post date:** [February 20, 2019, 11:23pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/17 "2019-02-20T23:23:39Z")
And if you give an incorrect first name, you could get it wrong, so it’s smart to give only last names, not lazy. ---
**Author:** ![Chronos](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/chronos/32/134_2.png) [@Chronos](https://boards.straightdope.com/u/Chronos)\ **Post date:** [February 20, 2019, 11:37pm UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/18 "2019-02-20T23:37:03Z")
One thing that surprised people about Watson the computer’s appearances on the show was that it _did_ go all the way down the rabbit hole of game theory, and so made bet amount that didn’t appear to make any sense, and looked totally random to mere humans. > [@](#): > > Quoth **Riemann** : > > Ok, so there’s one question left, you can stake as much of your bank as you want on your own answer to that question, and the only thing that matters is who has most nominal money at the end - if you have less nominal money than the winner, you get nothing? Who has the most isn’t _quite_ the only thing that matters: If you have the most, then that score value is the amount that you take home. So, for instance, if the top player going into the final question has more than double the second-place player, he can guarantee victory by making a small or zero bet… but he might still want to make a big bet, if it’s a category he’s really good at, so he brings home a bigger prize. On the other hand, the winner also gets to come back to appear on the show again the next day, for the opportunity to win even more money, so it’s not _just_ the value of your score that’s at stake. ---
**Author:** ![Riemann](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/riemann/32/3133_2.png) [@Riemann](https://boards.straightdope.com/u/Riemann)\ **Post date:** [February 21, 2019, 12:35am UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/19 "2019-02-21T00:35:19Z")
> [@AngelSoft](#): > > Well everyone knew what the right answer was. But they didn’t know what the right question was. Part of the reason I never got into watching that show is this annoying conceit. Reversing questions and answers just doesn’t make sense half the time anyway. ---
**Author:** ![borschevsky](https://avatars.discourse-cdn.com/v4/letter/b/97f17d/32.png) [@borschevsky](https://boards.straightdope.com/u/borschevsky)\ **Post date:** [February 21, 2019, 12:36am UTC](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919/20 "2019-02-21T00:36:48Z")
The bet of 7601 was to guarantee that a correct answer beats player 3. Basically player 2 was using the normal first place strategy of betting enough to double the next player, plus a dollar. [Next page](https://boards.straightdope.com/t/interesting-betting-situation-in-jeopardy/829919.md?page=2)