Bitcoin Forum
October 17, 2017, 10:41:18 PM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: House edges compound - Why people always seem to lose at dice  (Read 1321 times)
vennali
Hero Member
*****
Offline Offline

Activity: 798


View Profile
July 09, 2015, 06:44:05 PM
 #21

it's really an interesting topic , some people think that 1% house edge is low but maybe they should read this thread
that's why dice in the long run is very -EV , more bets can lead to incredible results
so yes maybe people who like to play dice should set small goals and try to reach them with few bets

I doubt people will stop gambling even after realizing its heavily -EV. I am sure most of the people are aware of the fact but still chose to gamble even after knowing all that. One roll is all they should play for winning it or losing it. Also since in other games like roulette house edge is more, it would probably also compound to a higher amount so its important to decide what game to gamble on.

1508280078
Hero Member
*
Offline Offline

Posts: 1508280078

View Profile Personal Message (Offline)

Ignore
1508280078
Reply with quote  #2

1508280078
Report to moderator
Some PGP public keys you should import: theymos, BadBear, Sirius, Stefan, Wladimir, Gavin, Gregory, Jeff, Pieter
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
SyGambler
Legendary
*
Offline Offline

Activity: 1008

Syrian Power ....


View Profile
July 09, 2015, 06:49:54 PM
 #22

it's really an interesting topic , some people think that 1% house edge is low but maybe they should read this thread
that's why dice in the long run is very -EV , more bets can lead to incredible results
so yes maybe people who like to play dice should set small goals and try to reach them with few bets

I doubt people will stop gambling even after realizing its heavily -EV. I am sure most of the people are aware of the fact but still chose to gamble even after knowing all that. One roll is all they should play for winning it or losing it.

yeah I agree with you , it's hard for gamblers to quite especially if they used to keep rolling
but maybe they will start to wager 100 rolls a day instead of 5000
dice will stay -EV , but rolling less bets can save gamblers some money and their chance of busting their money would be less than the chance by doing thousands rolls

Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!