Bitcoin Forum

Economy => Gambling => Topic started by: mexxer-2 on October 03, 2015, 08:19:45 AM



Title: Stratergy with positive EV
Post by: mexxer-2 on October 03, 2015, 08:19:45 AM
Say a site has rounding bug, which makes it give 30% negative house edge so +EV for player at 6650x . According to maths you should win in the long run if any site has +EV, so suggest me stratergies that can make it keep going with say a bankroll of 0.1 btc and I want to go with a relatively safe strat, as however maths says that I will win there may be a really rare strak which makes you lose all btcs.


Title: Re: Stratergy with positive EV
Post by: yanka50 on October 03, 2015, 08:27:55 AM
I suggest you report the bug to the admins for a reward of lets say 1BTC ;)


Title: Re: Stratergy with positive EV
Post by: mexxer-2 on October 03, 2015, 08:36:07 AM
I suggest you report the bug to the admins for a reward of lets say 1BTC ;)
I am talking about a hypothetical bug.


Title: Re: Stratergy with positive EV
Post by: FanEagle on October 03, 2015, 09:37:31 AM
There was one but has been corrected.
Hypotetically speaking, if you find something for that, you would do like many:
a guy had the bet result stuck with something like 35.14 and won with that bet result like 15 or 16 times before reporting it. winning about 15 btc(and giving back 2/3 if i remember right)
Another guy found another bug that allowed to win at a certain high multiplier with ease.
But technically speaking, I don't have real answers for your question


Title: Re: Stratergy with positive EV
Post by: masterzino on October 03, 2015, 02:56:41 PM
Hypothetically speaking, you just need a bot to implement you strategy.
As you are expecting 1 win on very very very long run.
And as you have the margin on your side, you just need to program your bot with flat betting. No martingales or other bullshits. You are exploiting the mathematical edge.

Zino


Title: Re: Stratergy with positive EV
Post by: Phildo on October 03, 2015, 03:25:56 PM
Your odds of winning that bet are still very low. Just pick an amount and bet over and over again and hope you don't run out. each bet is independent so it is possible that you will lose x in a row.


Title: Re: Stratergy with positive EV
Post by: Millibetting on October 03, 2015, 04:36:22 PM
You should use a bet that maximizes the edge you gain.

But at the same time gambling for one satoshi at a time might get you 5 cents an hour... Usually you can't make enough to make it worth it! Just gamble your bitcoins for fun and you will have more fun and waste less computer power and time.  :(