Post
Topic
Board Micro Earnings
Re: FreeBitco.in is High-Low game is a sham
by
BitcoinWatcher
on 01/08/2017, 08:41:14 UTC
How? I only used a base of .5 because that would be a easy rough estimate if you were trying to make a quick estimate to the probability. A base of .525 likelihood of the site winning the same side each time. .525^n is the true probability of you losing n times in a row betting on the same side, you learn this in high school Algebra and in detail in an introductory statistics course. Statistically there is only (.525^4)^3 chance of having 3 outcomes where n>4 in a row. Thats why in real life I tend to beat the casino by having enough money to keep doubling my bet everytime I lose until I win going in with only $100 playing blackjack everytime in real life but never with 72 satoshi on this site.