Search content
Sort by

Showing 2 of 2 results by ztephen
Post
Topic
Board Gambling
Re: Bitdice.me it is negative EV for investors
by
ztephen
on 12/05/2015, 12:59:38 UTC
the house edge is expressed in chance of win and chance of loss from the investors perspective.
Post
Topic
Board Gambling
Topic OP
Bitdice.me it is negative EV for investors?
by
ztephen
on 12/05/2015, 11:01:06 UTC
I hear that they take 10% of profits weekly. Too bad, I wish I could get a better answer than that because they don't tell you the terms for investing.

so assume that 10btc is wagered a week. the percentages show negative ev on all of the odds a player can choose.

(-10BTC)(0.495)+(9BTC)(0.505)= -0.405

(Investors Loss)(chance of losing)+(Investors Profit)(chance of winning) = (Expected Loss per 10BTC wagered)