And another point, why would we want a percent LOSS if we can still get what we wager back even if we win?? Should be whole wagered, not amt lost
If I have to chose between 40% of my losses or 0.4% of my wagered amount, I'd chose the 40% of losses.
If I win, I don't need a rebate. If I lose and get 40% back, that's massively +EV for me.
In the long term they're the same thing (assuming a 1% house edge). In the short term they're not.