Quote from: Ben Barubal on Today at 06:19:44 AM

Quote from: pawel7777 on December 24, 2022, 10:44:44 PM

Hypothetical scenario:

You can bet on a single dye roll (choosing a number between 1-6), but if you win you get paid x12 of your stake (instead of x6).
So the Expected Value is positive (see example below), but you'd still have 83% chance of losing.

1 - will you take that bet?
2 - if so, what % of your available funds would you put at stake (i.e. funds you're willing to gamble and afford to lose)?

Again, this is a single, non-repetitive bet.

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Simulation for BTC1 bet:

EV = (83% x -BTC1) + (17% x BTC11) = +BTC1.04

Edit: calculation corrected, credit to Saint-loup

My question to you is, do you trust the site that you are saying that? Have you tried it yet? Maybe like others here who can agree with my thoughts, other gamblers can do that in the crypto space if it's legitimate, that's why most people still doubt it.

Because if we look at it, what can be won is quite attractive, that's the truth, but on the other hand, it's still scary if you bet a lot on it. Those are the only possible things that can happen.

People who trust the site will keep playing and trying to win it. They will still use strategy, formula, or whatever to win it because they see they still have a chance to win it even though it's not easy.

Such calculations are a common thing that many gamblers have made but unfortunately, the calculations will not always come true due to the luck factor. The prize money gamblers can win is very attractive and keeps gamblers coming back for more.