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The x 12 that will be paid on the amount you bet is quite tempting to try. That's why it seems scary to try, especially if you bet a large amount of 1 bitcoin.
I just don't know if anyone has tried such a game, has anyone? This kind of game is only for brave gamblers who are ready to lose big money.
Nah, you got it a bit wrong, that 1 btc mentioned is just an example for the purpose of calculating the EV for such bet.
In this exercise, the stake s flexible and that's actually the main question of this thread - how to determine the right amount of the wager, expressed as a percent of your available bankroll (if you decided to take it in the first place).