Math for Bank Robbers: Part I

Does crime pay?

A pair of British economists analyzed data from 364 bank heists in the UK to answer that question.

After converting to US Dollars the average heist nets $31,600. Split between the average 1.6 robbers, each person gets $19,700. (BTW, the standard deviation is $83,000. So a lot earned around $20K and a few earned A LOT more.)  Roughly one-third of all heists end with the robbers earning nothing.  And about 20% end in the capture of the robbers.  (After 4 heists the odds of capture go up to 59%.)

So you might want to rethink a career as a bank robber.  Even if you hit 4 banks a year you’re making less than $80K and you will probably get caught.  (Which means they would confiscate any earnings you haven’t spent…)

Is it better for US bank robbers?

No, it’s worse. The average heist in the US only nets $4,330.

The only criminals making money at the banks are the bankers.

About Damon

I teach everyone's favorite subject to Juniors.

Posted on June 26, 2012, in Money and tagged , , , . Bookmark the permalink. Leave a comment.

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