Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Lottocoin as a SCAM
by
kpg99miner
on 01/02/2014, 14:40:32 UTC

Hello mate.

Casinos are profitable based on maths. So I want to prove you that you are vary wrong.
Just to mention that I dont know that website nor the devs of lotocoin or website owners.

As I checked on website they use American roulette, which mean have dubble zero.

The chances for a Double-Zero Roulette is 47.37% on Red or Black and 5.26% on greens (2.63% on each)  (source)

So I wrote a little javascript code to take for example 100000 spins (with that odds) and count how many times the same color picked in a row.

And here are the results:

Code:
Picks Percentage Same in a row
Red 47.508 12
Black 47.242 17
Zero 2.673 2
DZero 2.577 1

Of course  you can check my code and run tests here: http://jsfiddle.net/4Q65v/1/

So, giving you 15 times in a row Black, its normal! Its simple maths and chances.
You probably used Martingale strategy to earn some easy cash, but those strategies in long term fail cause of the edge on roulette. (thats why they have zero(s))
If you had more money to afford to double your bets on every lose then you can win that edge, but its impossible.

I dont know if you have gambling problems, you know better, but get a pen and do some simple maths. Then accept it. Smiley

My 2 satoshis.

another +1 for anther person that understands what it means to gamble