Post
Topic
Board Gambling
Re: How I lost 200,000 EURO on Bitcasino.io
by
Astargath
on 28/07/2019, 15:53:45 UTC
If you want to check if you are within the statistic, do the following:

1) Ask Bitcasino for the house edge of the slots you played

2) Calculate the total amount of all your bets

Example: If your total bets are 20 million Euro and the house edge is 3,5%, then you statistically lost 700,000 Euro.

It doesn't work like that, I mean you can check it like that but it only works if you have placed a huge amount of bets. For example if you have 1 in 10.000 chance of winning a bet and you bet 21.000 times, you 'should' expect to win 2 times, however you could have lost all 21k bets and that wouldn't mean you are not within the statistic, you could also win 15 times, it would only work after placing millions of bets.