Re: Insured gambling. Get a Per Cent of your Net Loss back.
this is a nice idea but what if u lost say 0.001 BTC
commission would be less that 0.00001
how will i get a % of that, that amount is too small to be withdrawn
commission would be less that 0.00001
how will i get a % of that, that amount is too small to be withdrawn
Here's what I'm thinking:
I deposit 21 BTC, bet it on "red" on roulette.
18/37 chance I win 21 BTC
19/37 chance I lose 21 BTC, but they pay 40% of that back to you, and you give me 11 BTC, say.
So I've a 18/37 chance of being +21 BTC and a 19/37 chance of being -10 BTC.
My expected profit is 5.081 BTC.
Where's the flaw here? They seem to be giving a 40% rebate on a game with a 2.71% edge...
idk. There is no flaw I can find..
They get a high roller.
Net Gaming Revenue = (bets - wins bonuses) admin fee.
Is it against site policy or something? I don't think it is. It is the same effect if you clicked on my banner or my signature etc.
Average Expected revenue is : 3.746BTC
So your average expected profit is 3.371BTC (90%) [not 2BTC ]
Quote
18/37 chance you win 21 BTC
19/37 chance you lose 21 BTC, and i give u 7.56 BTC (90% of 8.2), say.
So I've a 18/37 chance of being +21 BTC and a 19/37 chance of being -13.44 BTC.
My expected profit is 3.371 BTC.
19/37 chance you lose 21 BTC, and i give u 7.56 BTC (90% of 8.2), say.
So I've a 18/37 chance of being +21 BTC and a 19/37 chance of being -13.44 BTC.
My expected profit is 3.371 BTC.