Quote from: coinableS on January 30, 2015, 02:42:07 AM

Really? The strategy that won was make 1 bet of 0.0001010101 BTC @ 9900x? Is it just me or does it seem that using expected value (EV) is not a good way strategize with dice betting?

Yup, and thus OP admitted he should have used "probability to win 1 btc" to assess the strategies.

Quote from: RHavar on January 29, 2015, 01:56:48 PM

Quote from: MadZ on January 29, 2015, 09:40:26 AM

According to these conditions, maximal EV with 1 BTC bankroll attempting to win 1 BTC is achieved by making 1 bet of 0.0001010101 BTC @ 9900x.

You're right, my language was pretty poorly picked. I should have said: "Maximizing the probability to win 1 BTC" as opposed to "Maximizing the EV". Your bet does however does use fractions of a satosishis, so I'll give you 0.05 if you tell me your MP Account or bitcoin address.

The core question is still open, and for the people who suggested martingale betting sequences, I'll writes some code to figure out the probabilities a bit later.