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Author Topic: Does investing on a bitcoin dice bankroll a good idea?  (Read 1543 times)
srgkrgkj
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April 17, 2015, 02:37:01 PM
 #21

Here's a question I got for you guys:

For eg JD's Bankroll is 0 (Don't Laugh, Its just an example)! I invest 1 BTC there, And another gambler comes in and loses 1 BTC! So I get 1.9 BTC and 0.1 goes to dooglus... But I think the odds aren't on my side if the gambler knows when to stop!
The chances of gambler to double his money is 49.5%.. My odds are 50.5%

But if the gambler wins he gets 2x of the bet amount i.e. 2 BTC
But if I(house) win/s, I just get 90% profit i.e. 1.9 BTC

So isn't it better to gamble yourself and stop on the right time rather than investing on the house?


I didn't get your point.

Gambling has negative EV.

Investing in the bankroll has poitive EV.

How can negative be more than positive Huh

I think he means in the short temr a gambler can get lucky and eat away at the BR of a site and cost investors Huh

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ranochigo
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April 17, 2015, 02:44:18 PM
 #22

In most cases, investments in casinos can be profitable but not in the short term however. Depending on the house edge, if the house edge is 1%, the overall expected profit would be 1%. That is if no one comes and wipe a huge percent of the bank roll off and the casinos have no exploits or suddenly run off. The expected profit would still be 1% in the long term but it would be a very long term.
Here's a question I got for you guys:

For eg JD's Bankroll is 0 (Don't Laugh, Its just an example)! I invest 1 BTC there, And another gambler comes in and loses 1 BTC! So I get 1.9 BTC and 0.1 goes to dooglus... But I think the odds aren't on my side if the gambler knows when to stop!
The chances of gambler to double his money is 49.5%.. My odds are 50.5%

But if the gambler wins he gets 2x of the bet amount i.e. 2 BTC
But if I(house) win/s, I just get 90% profit i.e. 1.9 BTC

So isn't it better to gamble yourself and stop on the right time rather than investing on the house?

The chances of you losing is much higher than the chances of you winning.The problem is most people don't know when to stop when they win a bet. Your bets may be a loss for 32 times(worst case scenario) that would be more risky than investing in the house. And if Nakowa or similar person comes back and does this, you would end up with huge profits.

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April 17, 2015, 03:31:40 PM
 #23

Here's a question I got for you guys:

For eg JD's Bankroll is 0 (Don't Laugh, Its just an example)! I invest 1 BTC there, And another gambler comes in and loses 1 BTC! So I get 1.9 BTC and 0.1 goes to dooglus... But I think the odds aren't on my side if the gambler knows when to stop!
The chances of gambler to double his money is 49.5%.. My odds are 50.5%

But if the gambler wins he gets 2x of the bet amount i.e. 2 BTC
But if I(house) win/s, I just get 90% profit i.e. 1.9 BTC

So isn't it better to gamble yourself and stop on the right time rather than investing on the house?


I didn't get your point.

Gambling has negative EV.

Investing in the bankroll has poitive EV.

How can negative be more than positive Huh

I don't really know how to explain but I will try my best:

If I invest 1 BTC  in JD which currently has 0 BTC invested, the site's bankroll will be 1 BTC.
A roller comes in and bet 1 BTC at 49.5% and he will earn 1 BTC if he wins.
On the other hand, My(House's) odds of winning is 50.5% and if I(House) win, House earns 1 BTC profit but only 0.9 BTC profit will come to my pocket as 10% winning is taken by the site!

Roller bets at 49.5% and gets 1 BTC if he/she wins.
Investor's odds of winning the gambler is 50.5% and gets only 0.9 BTC profit if he/she wins.

So the question is Am I really profiting? Is it better to gamble than to invest?

shulio
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April 17, 2015, 03:35:43 PM
 #24

Here's a question I got for you guys:

For eg JD's Bankroll is 0 (Don't Laugh, Its just an example)! I invest 1 BTC there, And another gambler comes in and loses 1 BTC! So I get 1.9 BTC and 0.1 goes to dooglus... But I think the odds aren't on my side if the gambler knows when to stop!
The chances of gambler to double his money is 49.5%.. My odds are 50.5%

But if the gambler wins he gets 2x of the bet amount i.e. 2 BTC
But if I(house) win/s, I just get 90% profit i.e. 1.9 BTC

So isn't it better to gamble yourself and stop on the right time rather than investing on the house?


I didn't get your point.

Gambling has negative EV.

Investing in the bankroll has poitive EV.

How can negative be more than positive Huh

I don't really know how to explain but I will try my best:

If I invest 1 BTC  in JD which currently has 0 BTC invested, the site's bankroll will be 1 BTC.
A roller comes in and bet 1 BTC at 49.5% and he will earn 1 BTC if he wins.
On the other hand, My(House's) odds of winning is 50.5% and if I(House) win, House earns 1 BTC profit but only 0.9 BTC profit will come to my pocket as 10% winning is taken by the site!

Roller bets at 49.5% and gets 1 BTC if he/she wins.
Investor's odds of winning the gambler is 50.5% and gets only 0.9 BTC profit if he/she wins.

So the question is Am I really profiting? Is it better to gamble than to invest?

the best possible explanation is my answer I guess, You cant win 1 BTC in 1x roll if the entire bankroll is 1 BTC, since casino will be limiting it to 1 % of their bankroll, read this up, You missed my post, and by keep on limiting to 1 % of the bankroll, it will takes you several winning before you could drain up the entire bankroll.

Quote
good point, but you forgot to consider that a gambler seldom stop if he is in profit already, he might continue to go, this is better for the house in long term since there is a 1 % house edge everytime a gambler play, and it is notlikely that you will bust your 100% bankroll in one go, most sites allow 1 % of the bankroll as the max win, so if you got 1 btc, then max win will be 0.01 and max bet will be 0.005 with 2x chance for payout
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April 17, 2015, 03:37:53 PM
 #25

Here's a question I got for you guys:

For eg JD's Bankroll is 0 (Don't Laugh, Its just an example)! I invest 1 BTC there, And another gambler comes in and loses 1 BTC! So I get 1.9 BTC and 0.1 goes to dooglus... But I think the odds aren't on my side if the gambler knows when to stop!
The chances of gambler to double his money is 49.5%.. My odds are 50.5%

But if the gambler wins he gets 2x of the bet amount i.e. 2 BTC
But if I(house) win/s, I just get 90% profit i.e. 1.9 BTC

So isn't it better to gamble yourself and stop on the right time rather than investing on the house?


I didn't get your point.

Gambling has negative EV.

Investing in the bankroll has poitive EV.

How can negative be more than positive Huh

I don't really know how to explain but I will try my best:

If I invest 1 BTC  in JD which currently has 0 BTC invested, the site's bankroll will be 1 BTC.
A roller comes in and bet 1 BTC at 49.5% and he will earn 1 BTC if he wins.
On the other hand, My(House's) odds of winning is 50.5% and if I(House) win, House earns 1 BTC profit but only 0.9 BTC profit will come to my pocket as 10% winning is taken by the site!

Roller bets at 49.5% and gets 1 BTC if he/she wins.
Investor's odds of winning the gambler is 50.5% and gets only 0.9 BTC profit if he/she wins.

So the question is Am I really profiting? Is it better to gamble than to invest?

the best possible explanation is my answer I guess, You cant win 1 BTC in 1x roll if the entire bankroll is 1 BTC, since casino will be limiting it to 1 % of their bankroll, read this up, You missed my post, and by keep on limiting to 1 % of the bankroll, it will takes you several winning before you could drain up the entire bankroll.

Quote
good point, but you forgot to consider that a gambler seldom stop if he is in profit already, he might continue to go, this is better for the house in long term since there is a 1 % house edge everytime a gambler play, and it is notlikely that you will bust your 100% bankroll in one go, most sites allow 1 % of the bankroll as the max win, so if you got 1 btc, then max win will be 0.01 and max bet will be 0.005 with 2x chance for payout


You're funny lol! That was just an example and I well know that there is a max profit in dice site Smiley Anyways, it was an explanation for ndnhc as he didn't get my question Smiley

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