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Board Service Announcements (Altcoins)
Re: Just-Dice.com : Play or Invest : 1% House Edge : Banter++
by
organofcorti
on 29/07/2013, 15:47:25 UTC
Some more explanations of gambling probability part 2: http://organofcorti.blogspot.com/2013/07/144-some-notes-about-just-dicecom.html

Hope you find it interesting - post any questions about it that you might have.

I have a question. Can you put those equations into a formula I can easily paste into a spreadsheet? (like excel, or open office). I'm an admitted math fail, and those formulas that require pictures to show, have too many greek letters (or none?)

Thanks.

It's all explained in the blog post, however if p = the probability to win a game (the game percentage / 100 ) and n=number of losses in a row, then:

* The average number of loss runs until the next expected number of losses in a row: (1-p)^(1-1/p)/p

* The average number of loss runs until the next n losses in a row: ((1 - p)^-n)/p

* The average number of loss runs until the next greater than n run of losses in a row: (1 - p)^-(n+1)

That should work for you.