In the long term, there is no difference between betting on 1.01x and betting on 2000x.
As long as the house edge is 1%, you lose 1% of the total amount you wager. The odds doesn't matter in the long term
This is the kind of question which has been bothering me lately
I even wanted to create a separate topic dedicated to it but didn't dare. While it definitely looks like the odds don't matter on their own (as far as the house edge is concerned), can the same be said in respect to variance? I mean would variance remain the same for both 1.01x and 9900x if you used these payouts in a hypothetic martingale setup?
In more mundane terms, are outliers going to happen equally frequently (infrequently) in both of these cases? This is important. Statistically, variance should also be the same as long as the bets are truly random, but practically, it may be different due to various physical factors involved which make the outcomes not so random
You may try try yourself with few hundreds/thousands doge to test the race and wager as much as you can to be eligible for the prize
With so little amount it's not going to pan out. I've been doing that for a few months already (since July, to be exact). And guess what? I'm in the second hundred (and never made it to the top ten)