jambola2 (OP)
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July 19, 2015, 11:26:13 AM |
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A billionaire decides to waste some money and creates a provably fair EV+ casino.
Don't liken this to investing in the house of a dice site, as you don't have as much security as you get, with the maximum winnnings and that sort of things.
How much would you gamble in this hypothetical EV+ casino?
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No longer active on bitcointalk, however, you can still reach me via PMs if needed.
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I HATE TABLES I HATE TABLES I HA(╯°□°）╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
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subSTRATA
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:^)
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July 19, 2015, 11:34:35 AM |
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A billionaire decides to waste some money and creates a provably fair EV+ casino.
Don't liken this to investing in the house of a dice site, as you don't have as much security as you get, with the maximum winnnings and that sort of things.
How much would you gamble in this hypothetical EV+ casino?
well i had a run in with something along those lines not too long ago with a certain casino and its rude owners with questionable intelligence, but had i chosen to exploit their error, i wouldve invested a lot (i really mean a lot) of bankroll into making the most of the +EV opportunity, as i would in this hypothetical situation you presented. id say in the ballpark of 80% of whatever coin i may be holding at the time would go into making use of that +EV. |
theres nothing here. message me if you want to put something here.
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u9y42
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July 19, 2015, 11:53:08 AM |
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A billionaire decides to waste some money and creates a provably fair EV+ casino.
Don't liken this to investing in the house of a dice site, as you don't have as much security as you get, with the maximum winnnings and that sort of things.
How much would you gamble in this hypothetical EV+ casino?
Hmm, my luck at gambling is such, that I would likely lose all my bankroll before being able to take advantage of the positive player edge.  But subSTRATA is right, of course: this would be an ideal opportunity to take advantage of the +EV, for however long the casino manages to last. |
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fox19891989
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July 19, 2015, 02:17:56 PM |
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A billionaire decides to waste some money and creates a provably fair EV+ casino.
Don't liken this to investing in the house of a dice site, as you don't have as much security as you get, with the maximum winnnings and that sort of things.
How much would you gamble in this hypothetical EV+ casino?
LOL, there is not silly billionaire at all, this discussion is so funny, I will gamble as much as I can, cause +EV is good for players, I can profit in the long term, so just allin.  |
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ticoti
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July 19, 2015, 02:22:07 PM |
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I would make many small bets,as in the long term I would have to have profit
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magicmexican
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July 19, 2015, 02:25:02 PM |
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In this scenario that would never happen in real life you just follow the standard BR management, making sure that your chances of going broke are 0%, and make a boring job with consistant profit out of it.
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RHavar
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July 19, 2015, 02:25:24 PM |
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How much would you gamble in this hypothetical EV+ casino?
Depends, +EV is overrated. Like for instance if game required me to bet $1 to have a 1 in a billion chance of winning 2 billion dollars, it would be insanely +EV, but I still wouldn't do more than a few bets. |
Check out gamblingsitefinder.com for a decent list/rankings of crypto casinos. Note: I have no affiliation or interest in it, and don't even agree with all the rankings ... but it's the only uncorrupted review site I'm aware of. |
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crazyjack
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July 19, 2015, 02:33:07 PM |
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A billionaire decides to waste some money and creates a provably fair EV+ casino.
Don't liken this to investing in the house of a dice site, as you don't have as much security as you get, with the maximum winnnings and that sort of things.
How much would you gamble in this hypothetical EV+ casino?
I always love this kind of question, well even in the fairest casino i wouldn't gamble cause there is always statistic that works against you no matter what you do. |
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yakuza699
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July 19, 2015, 02:42:55 PM |
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A billionaire decides to waste some money and creates a provably fair EV+ casino.
Don't liken this to investing in the house of a dice site, as you don't have as much security as you get, with the maximum winnnings and that sort of things.
How much would you gamble in this hypothetical EV+ casino?
I always love this kind of question, well even in the fairest casino i wouldn't gamble cause there is always statistic that works against you no matter what you do. It is called House edge a positive expected value for owner which in this case would be negative for house.There's no way for a house to win if we have +EV for us.Unless you make very few large bets.In that case everything can happen but if you place a lot of small bets periodically you will be in profit over time. |
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vennali
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#SWGT CERTIK Audited
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July 19, 2015, 02:49:23 PM |
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Depends on a lot of things specially how much +EV it is. Obviously since its +EV means you will win more than the house, so flat betting a lot based on your bankroll will likely be the best way to go . I would flat bet 0.001 BTC if I had a bankroll of 1 BTC continously .
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jambola2 (OP)
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July 19, 2015, 03:46:20 PM |
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In this scenario that would never happen in real life you just follow the standard BR management, making sure that your chances of going broke are 0%, and make a boring job with consistant profit out of it.
Alright. Explain your standard bankroll management. It's a casino with a 1% edge towards you, that any bet will on average get 101% of the value. You can choose any odds, and you will get a favoured bet. If you choose 50% odds, you'll win 2.02 units if you bet 1 unit. There is no foolproof method, gambling always has a risk, but I'd like to see you try to explain. |
No longer active on bitcointalk, however, you can still reach me via PMs if needed.
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XinXan
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July 19, 2015, 03:54:16 PM |
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Depends on a lot of things specially how much +EV it is. Obviously since its +EV means you will win more than the house, so flat betting a lot based on your bankroll will likely be the best way to go . I would flat bet 0.001 BTC if I had a bankroll of 1 BTC continously .
Well the best way to go would be to use the kelly system but i really dont understand the point of this thread and im pretty sure it should go to off-topic and not the gamble section since its a pretty stupid post. |
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jambola2 (OP)
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July 19, 2015, 04:06:25 PM |
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Depends on a lot of things specially how much +EV it is. Obviously since its +EV means you will win more than the house, so flat betting a lot based on your bankroll will likely be the best way to go . I would flat bet 0.001 BTC if I had a bankroll of 1 BTC continously .
Well the best way to go would be to use the kelly system but i really dont understand the point of this thread and im pretty sure it should go to off-topic and not the gamble section since its a pretty stupid post. Ahh, I just read about it, sorry for my lack of knowledge. I was attempting to figure out whether dice sites having EV- actually makes much of a difference to the average player, and whether the average player would change their betting strategy and quantity with EV+ |
No longer active on bitcointalk, however, you can still reach me via PMs if needed.
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XinXan
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July 19, 2015, 05:35:12 PM |
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Depends on a lot of things specially how much +EV it is. Obviously since its +EV means you will win more than the house, so flat betting a lot based on your bankroll will likely be the best way to go . I would flat bet 0.001 BTC if I had a bankroll of 1 BTC continously .
Well the best way to go would be to use the kelly system but i really dont understand the point of this thread and im pretty sure it should go to off-topic and not the gamble section since its a pretty stupid post. Ahh, I just read about it, sorry for my lack of knowledge. I was attempting to figure out whether dice sites having EV- actually makes much of a difference to the average player, and whether the average player would change their betting strategy and quantity with EV+ Basically using the kelly formula would be using the optimal strategy but in the end the casino would lose even if the players dont use it and just bet with any other "strategy" its pretty much what happens with -EV casinos, they always win in the end no matter what players do |
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vennali
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#SWGT CERTIK Audited
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July 19, 2015, 06:27:55 PM |
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Depends on a lot of things specially how much +EV it is. Obviously since its +EV means you will win more than the house, so flat betting a lot based on your bankroll will likely be the best way to go . I would flat bet 0.001 BTC if I had a bankroll of 1 BTC continously .
Well the best way to go would be to use the kelly system but i really dont understand the point of this thread and im pretty sure it should go to off-topic and not the gamble section since its a pretty stupid post. Ahh, I just read about it, sorry for my lack of knowledge. I was attempting to figure out whether dice sites having EV- actually makes much of a difference to the average player, and whether the average player would change their betting strategy and quantity with EV+ It depends on the way gamblers would play . Even if the house edge was 0 , and if people used martingale then even then it is very possible for them to bust and lose their money. Majority of the gamlers use the same strategy so it definitely is likely the house would still profit. For no house edge I dont think strategy would change much , but if its negative house edge or +EV for gamblers, then the gambler would likely flat bet and cause the house to lose. |
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White sugar
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July 19, 2015, 06:32:04 PM |
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A billionaire decides to waste some money and creates a provably fair EV+ casino.
Don't liken this to investing in the house of a dice site, as you don't have as much security as you get, with the maximum winnnings and that sort of things.
How much would you gamble in this hypothetical EV+ casino?
well i had a run in with something along those lines not too long ago with a certain casino and its rude owners with questionable intelligence, but had i chosen to exploit their error, i wouldve invested a lot (i really mean a lot) of bankroll into making the most of the +EV opportunity, as i would in this hypothetical situation you presented. id say in the ballpark of 80% of whatever coin i may be holding at the time would go into making use of that +EV. If the casino has such fall, great are the chances it will scam. The +EV came from low odds, so no surprise if you never do a hit. And I my investment in a honest +EV casino would depend of the variance of the outcome. If too big I would be scared to put more than play money on it |
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anderson00673
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July 19, 2015, 06:34:54 PM |
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I think my chances of winning the lottery are better than finding such a casino.
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otapexin
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July 19, 2015, 09:04:39 PM |
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If I offered you the following bet, would you take it?
The game has 1,000 rounds. Each round there is a 50 % probability of outcome 1 and 50 % probability of outcome 2. If outcome 1 happens, you receive a 40 % return that round. If outcome 2 happens, your return is -30 % that round. The rounds are compounded so the return in a given round is always on the accumulated capital.
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DropboxSeller
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July 19, 2015, 10:14:31 PM |
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Can I know what +EV is? Thanks . |
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Bit_Happy
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A Great Time to Start Something!
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July 19, 2015, 10:19:32 PM |
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A billionaire decides to waste some money and creates a provably fair EV+ casino.
Don't liken this to investing in the house of a dice site, as you don't have as much security as you get, with the maximum winnnings and that sort of things.
How much would you gamble in this hypothetical EV+ casino?
Hmm, my luck at gambling is such, that I would likely lose all my bankroll before being able to take advantage of the positive player edge. But subSTRATA is right, of course: this would be an ideal opportunity to take advantage of the +EV, for however long the casino manages to last. Yes, depending on the size of your bankroll and the amount of +EV, the "Risk of Ruin" can be shockingly high even when you have an actual advantage. |
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