~
~ But that definition and my risk tolerance would change for things like say investment opportunities with lower risk and positive expected returns.
In such case I'd be potentially willing to risk any amount that won't cause a massive disruption to my life.And what amount would
you risk having only 17% chance to win?
I mean, since it's only one try, you will most likely lose it, right? I personally would risk "any amount that won't cause a massive disruption to my life", like you said, only if the multiplier was something like around 1,000x. Yes, I would try my luck then, even with an amount painful to lose, but for just potential 12x win, I wouldn't stake much.
The part highlighted by you refers to relatively safe investment opportunities. For the 17% single dye roll - I honestly don't know, that's essentially why I started this topic. I feel like I'd probably go with ~25% of the amount defined as "amount I can afford to lose" for the purpose of gambling as defined in the post you've quoted, aka 25% of my monthly "fun and entertainment" budget. There's not much math involved in determining that stake size, it just *feels* right, it won't hurt much if I (likely) lose but still gives a sense of taking a proper advantage of the positive EV bet.
The most "logic" approach would be to go with 9.5%
calculated by using the Kelly criterion, but it's just seems a bit low.
This brings to my mind the following, there are some casinos that have investment options, you should know the Betfury casino well that a few years ago gave the option to buy the BFG, but at the same time caused quite a lot of returns in other crypto, including Bitcoin, what do you think about it? Of course, now we have seen that they have some problems, hence a negative opinion of them in their profile, but they are insisting that they open signature campaigns, that they give more movies to the tokens, but currently do you see that this will be profitable? In itself it is a strategy of juice, because in some games the BFG can be posted and apart from that, if they multiply, it gives more profitability, what I think they have failed is that they have not looked for a good exchange, in the long run I think this type of casinos which is a good betting strategy.