Post
Topic
Board Gambling
Topic OP
Bitdice.me it is negative EV for investors?
by
ztephen
on 12/05/2015, 11:01:06 UTC
I hear that they take 10% of profits weekly. Too bad, I wish I could get a better answer than that because they don't tell you the terms for investing.

so assume that 10btc is wagered a week. the percentages show negative ev on all of the odds a player can choose.

(-10BTC)(0.495)+(9BTC)(0.505)= -0.405

(Investors Loss)(chance of losing)+(Investors Profit)(chance of winning) = (Expected Loss per 10BTC wagered)