64 teams are going to play in a tournament. You desire to bet your $192 savings on these teams but you know absolutely nothing about these teams so you will use a fair coin to select the team that you think will win the contest. Every correct bet doubles your money so a $1 bet awards you back your dollar plus an additional dollar and you cannot bet on two teams if they are playing each other in the same round.
The tournament is a single elimination contest, hence there will be 6 rounds. Your goal from betting is to attempt to make the most money at the end of the tournament.
You have two friends who proposed betting strategies:
Jon says that you should bet $32 for each round evenly. So in the first round, you put $1 on each team you think will win, then in the second round $2, culminating the final round with $32 on the winning team.
Eric, on the other hand, says you should bet $3 on each team in the first round, $3 on each team in the second round, and so on.
If you bet on the same teams regardless on the strategy chosen, which strategy will produce the most money?