Post
Topic
Board Gambling
Re: Challenge: What's the best way to win 1 BTC with 1 BTC?
by
Mayanheir
on 13/12/2015, 00:18:21 UTC

How about this:

bet 0.01088928 BTC @ 1.0664%
if you win, your profit is ((99 / 1.0664) - 1) * 0.01088928 = 1.00002474 BTC
if not, martingale at the same chance of winning, to keep the same net profit
you can afford 64 bets
chance of winning =  100 * (1 - ((100 - 1.0664) / 100) ** 64) = 49.649475445976265%

Edit: here are the 64 bets:

       chance  multiplier      
        1.0664% 92.83570893x    
                  
bet #       stake  total lost      profit
-----  ---------- -----------  ----------
 1     0.01088902              1.00000087
 2     0.01100759  0.01088902  1.00000081
 3     0.01112745  0.02189661  1.00000065

I have bolded the line "if not, martingale at the same chance of winning, to keep the same net profit" because I am confused, you say to do a martingale but the second bet should be 0.02177804 not 0.01100759 like you listed, it also doesn't double your other bets in the 64 bet run. If you are doubling your bet using the martingale system and keeping the same chance of winning, it is not possible to have 64 bets.