Stupid Question
OK, I have a question concerning something that I probably made a small error in calculating but couldn't find, so I'm turning to this board for help.
In Griffin's 'The Theory of Blackjack' when he talks about the formula for insuring all or nothing of a bet, he gives the example of a gambler betting all of his capital on one hand. He plugs 1 for f into the formula, getting 1-log(1+1)/log(1+3/2). This simplifies to 1-log2/log2.5. I worked it out on pencil and paper and got 1-.20/.25=1-4/5=1/5=.2. This disagrees with his caculation of .24, so I did it on a calculator and got .12. Can someone tell me what I am doing wrong?
