Re: ★★ DigiByte ★★ [DGB] - A Professional Cryptocurrency ✈ Android Wallet ✔
This argument is retarded.
For a start, playing 1 ticket is the same as rolling the dice once with the same odds of winning.
Dice gives you more options and you can repeat bets a lot quicker (instead of waiting for more lottery draws) but the idea is still THE SAME. Just because you *can* continue rolling dice, doesn't mean that the dice game is more rigged than the lottery.
In this example if you took a 1% dice game with 1/150 chance to win (same as the lottery) then the payout would be 150 *0.99 = 148.5x.
For a 4,000 DGB bet this equates to: 594,000 DGB.
EV of this bet is -40 DGB per roll (you lose 40 DGB every time you click)
That's a one off dice spin of 4,000 DGB with 1/150 chance to win (provided that the site has a high enough bankroll).
The chance of winning the lottery on here is 1/150 but the payout is 300,000 DGB (with 2nd and 3rd prizes that total 180,000).
EV of this bet is -800 DGB / ticket.
*edit* - Either way, this isn't the place to discuss how much Digibytes one can lose by gambling.
For a start, playing 1 ticket is the same as rolling the dice once with the same odds of winning.
Dice gives you more options and you can repeat bets a lot quicker (instead of waiting for more lottery draws) but the idea is still THE SAME. Just because you *can* continue rolling dice, doesn't mean that the dice game is more rigged than the lottery.
In this example if you took a 1% dice game with 1/150 chance to win (same as the lottery) then the payout would be 150 *0.99 = 148.5x.
For a 4,000 DGB bet this equates to: 594,000 DGB.
EV of this bet is -40 DGB per roll (you lose 40 DGB every time you click)
That's a one off dice spin of 4,000 DGB with 1/150 chance to win (provided that the site has a high enough bankroll).
The chance of winning the lottery on here is 1/150 but the payout is 300,000 DGB (with 2nd and 3rd prizes that total 180,000).
EV of this bet is -800 DGB / ticket.
*edit* - Either way, this isn't the place to discuss how much Digibytes one can lose by gambling.
Thanks zukii for the support and I could not agree more.
zaloultra also forgets that you can buy as many tickets as you want, so let me buy all 150 tickets for 4000 each and I get 3200 per ticket back
I believe his "economics degree "refers to his math classes in middle-school. Probability and EV is not a time related value, it is always per bet.