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Board Service Announcements (Altcoins)
Re: Just-Dice.com : Play or Invest : 1% House Edge : Banter++
by
dooglus
on 01/10/2013, 22:56:53 UTC
How lucky one needs to be to beat expectation with 40k?

Lets bet 400 on >50.5 say 10000 times. We only need to win 5100 times, right?

No, I don't think that is right, for two reasons:

1) if you win 5100 times, you win (5100*400)-(4900*400) = 80k.  Not 40k.  So you're off by a factor of two there

2) if expectation is to lose 25k, to beat it by 40k you 'only' have to win 15k.  That means winning 5018 times (5018*400 - 4982*400 = 14400)

So you 'only' need to win 5018 and lose 4982 to be around 40k better than expectation.