Post
Topic
Board Gambling
Re: Moneypot just took a huge loss?
by
RHavar
on 31/01/2016, 06:07:21 UTC
Can you please tl;dr this for me then? Something I'm not catching on to I guess. If the risked amount is a % of the bankroll (as per Dooglus), that % remains the same. So let's say there's 100 BTC in the BR, and 99.84% can be lost (99.84). Player loses 100 BTC chasing it. Now there's 200 BTC there, but he can chase after 199.68 of it (meaning his 100 + 99.68/99.84 of what he was chasing), and this could go on forever.

So for argument sake, lets use a gambler with infinite money.

The site starts with a 100 BTC bankroll, this means using Dooglus' payouts the gambler would have to bet 1524 BTC to aim at winning the 99.97% of the bankroll. As the gambler loses money, to the house, the more and more he needs to bet. By the time the gambler wins the 99.97% of the bankroll, he will have probably grown the bankroll so much that the remaining 0.03% is far bigger than the initial bankroll.

So even with infinite money, the gambler is still -EV and the casino still have +expected bankroll growth