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1  Economy / Gambling / Re: Bitdice.me it is negative EV for investors on: May 12, 2015, 12:59:38 PM
the house edge is expressed in chance of win and chance of loss from the investors perspective.
2  Economy / Gambling / Bitdice.me it is negative EV for investors? on: May 12, 2015, 11:01:06 AM
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)
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