Post
Topic
Board Gambling discussion
Re: Gambling can be profitable in the long run! It is possible!
by
RealBitcoin
on 23/02/2016, 10:23:32 UTC

Actually it's 49 - 51  isnt it?



51-49=2

Hmm interesting , i never thought of this, i always calculated it with 49-51.

Ok then, so it's 49.5% win, 49.5% loss, and 1% house comission.

Now what does that tell you, it means that the win and loss will be equal in the long run, and its the 1% that drains away your money.

If it were 50-50, you would probably end up breakeven in infinity.


So what we need to analyze is the 1% house edge how much that drains us and what are our expected chances of beating that short term.