# Math Help - Why doesn't this bet have a positive expectation for both players?

1. ## Why doesn't this bet have a positive expectation for both players?

Assume that the $and the £ are 1:1. Bob and Joe make a bet. Bob puts up$100 and Joe puts up £100. Bob wins if the £ appreciates in value relative to the $, and Joe wins if the$ appreciates in value relative to the £. Assume the probability is 50/50 of either player winning.