Post
Topic
Board Gambling
Re: Challenge: What's the best way to win 1 BTC with 1 BTC?
by
dooglus
on 17/10/2015, 18:21:05 UTC
Could you point to the post which won it? And did it really have lower chances of losing?(highest EV I mean)

These two posts:

leading to a 49.64716% chance of winning.

you have a 49.64812% chance of winning.

chance of winning =  100 * (1 - ((100 - 1.0664) / 100) ** 64) = 49.649475445976265%

And yes, they have a higher EV because on average they risk less. The EV is -1% of the amount you risk, so minimising the amount you risk maximises the EV.

The corollary to this of course is that the optimal strategy for maximising your EV is to risk 0 - ie. stop playing.

A strange game. The only winning move is not to play. How about a nice game of chess?