Post
Topic
Board Gambling
Re: MoneyPot.com :: The bitcoin gambling wallet
by
a1choi
on 06/10/2015, 07:14:42 UTC
I think that is like the classic gambler's fallacy Tongue

The profit should reach EV because the numbers get bigger, not because it's more likely to be "extra EV". The 1% HE is the same for both sites.

In comparison: gamblers say that when you have a coinflip, and after 1000 bets it's 40% tail, it's more likely to be "head" because it will get close to 50%. However, it will get close to 50% because the sample will become bigger, not because there is a bigger chance for any side to win - that's still 50%.

Exactly.  Wikipedia has a good gif demonstration of this.  I edited my previous answer a little bit.  but same thinking. Cheesy