Post
Topic
Board Gambling
Re: Hi Stakes Bitcoin Raffle Lottery |No House Edge|Prog Jackpot|Provably Fair|
by
BRules
on 13/04/2014, 13:16:17 UTC

If a house ticket is not chosen when draw, 85% (~7.65) goes to winner.


Didn't understood the math. 85% of 10 BTC = 8.5 BTC


There's only one draw per round and only one winner per draw. And the prize is always 85% of jackpot.

Yes, I understood that.


I think you didn't get my point.

ok, now I see that will be house tickets in the initials rounds. So lets do the math again:

You are giving 9 BTC for the first round, so, if I send 1 BTC and I win (66% chance), I will receive 8.5 BTC, if the house win the amount will be available for the next round.

so I will send another 1 BTC for the second round, the total jackpot will be 11 BTC, if I win (76.92% chance) I will receive 11 - 0.5% = 10.945 * 85% = 9.30325 BTC. if the house wins, supposing you will get the house rake from the total jackpot, 10.945 will be available for the next round.

so I will send another 1 BTC for the third round, the total jackpot will be 11.945 BTC, if I win (0.8333%) I will receive 11.945 - 1% = 11.82555 * 85% = 10.0517175 BTC. if the house wins, supposing you will get the house rake from the total jackpot, 11.82555 will be available for the next round.

And on the forth round, as this round will not have house tickets I will have paid a total of 4 BTC and will receive a total of 10.68368315 BTC.

Still easy money.