Post
Topic
Board Gambling
Re: Are bitcoins casinos really pointless?
by
DannyHamilton
on 20/11/2012, 15:22:43 UTC
This is something we discussed with dooglus but he failed to appreciate, There is a tipping point with the house edge and bet range offered where martingale systems will start to work often enough to put the house at serious risk of going bust. The house edge is not a guaranteed earn and martingaling has the effect of reducing the house edge significantly (when the simulation data is averaged out of 10'000'000 rounds).

I still fail to appreciate it.

There's no betting strategy that changes the house edge.

I'd like to see your simulation code if that's possible.

That is an odd contention.  Are you sure you aren't talking about risk of ruin?  The house edge on any particular bet should remain constant no matter what betting strategy a punter employs.

I'd tend to agree with dooglus and darkmule.  I'd need some pretty significant convincing to believe that the edge can be affected by modifying the size of your bet.  It would be very interesting to see what sort of simulation you are running.