I'm curious how much I will win with my presidential election bet. Can someone help me figure out the estimated winnings?
When I placed my bet it showed the following:
TIME WEIGHT MULTIPLIER 30.0x
Outcome odds 4.5
Betting amount 0.01
Thank you!
The time weight multiplier is a little bit misleading your 30.0 X means that you will receive 1.3 times what you wagered (
BTC 0.01 X 1.3 =
BTC 0.013) with the outcome of 4.5 giving an end result of
BTC 0.0585.
Having said that however, the outcome odds will fluctuate until betting is closed - if you're quoting the after closing odds
(and you bet on Joe Biden) then you should pick up
BTC 0.0585 in the near future.
Congratulations.
The final odds of 4.5 are difficult to win. It is not impossible of course. What are the statistical odds that you will win a bet with odds of around 4.5? Is that somewhere around 15-20%?
I wouldn't bet on such odds myself. Of the other chance, if you win then it is equal x 4.5
Especially with large amounts it goes fast. Not yet really 0.01.