Remember that the max profit is set by the investors and how much they risk. One thing that bothers me is that even if everyone on the site had their risk set to 10 kelly, max bet should not have been this high.
Feel free to correct me if I'm wrong, but 10 kelly means I'm willing to risk 10% of my bankroll on a single bet. So how was it possible that the max profit was nearly 95% of the actual bankroll? there might be some trickery with the variable edge at play here that i'm forgetting about
Did this ever get answered? I guess maybe I should have learned more about how their investment structure works, but I too wasn't thinking it was possible to get wiped out like that.
I may have still taken the risk, I don't know. I've invested in various dice sites and you never check them a few weeks later and see that you lost like basically the whole thing lol. I don't ever remember a swing of more than 20%, even on 10x Kelly. (Not trying to hate on SD, just confused and making sure it worked how it was supposed to work.)
Mm yes.. my reply right after that post explains why it was more than 10%? Basically it is because they had a dynamic house edge which could be relatively high up to 10%. Other sites do not have this. In theory that's nice, because you can allow players to bet bigger while the investors have a bigger edge. But afterwards it was way too risky. With the 10x kelly option, this meant the max profit of 1 bet could become a very big part of the bankroll (up to 100% lol.)
Remember that the max profit is set by the investors and how much they risk. One thing that bothers me is that even if everyone on the site had their risk set to 10 kelly, max bet should not have been this high.
Feel free to correct me if I'm wrong, but 10 kelly means I'm willing to risk 10% of my bankroll on a single bet. So how was it possible that the max profit was nearly 95% of the actual bankroll? there might be some trickery with the variable edge at play here that i'm forgetting about
Max profit = kelly * HE.
Normally (on most sites) HE is 1% so we always just assume 10x kelly is 10% of your BR. However in this case the bet was 8% HE which means 80% of BR was risked.
For what it's worth: the max HE and max kelly are both lowered now.
Thanks for answering. Makes sense.
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Topic
BoardGambling
Re: SafeDICE.com ★ Bitcoin Dice ★ Monero ★ 0.5% Edge ★ Fast Cashout ★ Since 2014
Remember that the max profit is set by the investors and how much they risk. One thing that bothers me is that even if everyone on the site had their risk set to 10 kelly, max bet should not have been this high.
Feel free to correct me if I'm wrong, but 10 kelly means I'm willing to risk 10% of my bankroll on a single bet. So how was it possible that the max profit was nearly 95% of the actual bankroll? there might be some trickery with the variable edge at play here that i'm forgetting about
Did this ever get answered? I guess maybe I should have learned more about how their investment structure works, but I too wasn't thinking it was possible to get wiped out like that.
I may have still taken the risk, I don't know. I've invested in various dice sites and you never check them a few weeks later and see that you lost like basically the whole thing lol. I don't ever remember a swing of more than 20%, even on 10x Kelly. (Not trying to hate on SD, just confused and making sure it worked how it was supposed to work.)
Something about the guy accidentally clicking the wrong thing and lo and behold there goes the bankroll strikes me as weird. But again just trying to make sense of it, not trying to accuse SD of anything.
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Topic
BoardMarketplace (Altcoins)
Re: Lisk Marketplace (Buy/Sell) and Speculation Thread
^Lisk hasn't launched yet, yobit is not trading real lisk. This information is all over the place man
What does "not real Lisk" mean? Like IOUs? That would still seem fine if Yobit is trustworthy. I realize Lisk hasn't launched. What I'm asking about is basically Yobit and if people trust it.
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Topic
BoardMarketplace (Altcoins)
Re: Lisk Marketplace (Buy/Sell) and Speculation Thread
I'm a little confused. If Lisk is trading on Yobit, what's the purpose of trading manually ITT? (I don't doubt there's a reason, I'm just not aware what it is. Is Yobit not trustworthy?)
Thanks.
I'm interested in Lisk and looking to buy 1-2 btc worth, if there's a way to do it safely.
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Topic
BoardGambling
Re: BetBTC - Bitcoin Sports Betting | More Sports | Instant Payments | Like Betfair
I made an account and will try to refer some people. And probably make some bets myself hehe. On the website it says you get 30 percent of the player's wins... does that mean every time they win a bet, or lifetime winnings?
You'll win 30% of the profit that we generate from your referrals, lifetime! The commission is calculated / deducted on the end of each event, this means that if you have some active referrals you'll be always winning.
I see, thanks!
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Topic
BoardGambling
Re: BetBTC - Bitcoin Sports Betting | More Sports | Instant Payments | Like Betfair
by
Fring
on 12/02/2016, 21:25:49 UTC
I made an account and will try to refer some people. And probably make some bets myself hehe. On the website it says you get 30 percent of the player's wins... does that mean every time they win a bet, or lifetime winnings?