Post
Topic
Board Gambling
Re: Bitdice.me it is negative EV for investors
by
xKomatsu
on 12/05/2015, 13:36:10 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)

Isnt the formula you used is wrong? I dont think invesyment is always -EV because of the 1% house edge