JackpotRacer (OP)
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All Games incl Racer and Lottery game are Closed
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August 10, 2015, 03:45:17 PM |
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This promotion makes the site temporarily EV+ ! Assuming you bet 0.00002 BTC (2000 satoshis) every bet:
Expected value from winning the normal game: 0.00002 * 5.88/6 = 0.0000196 Expected value from winning the jackpot: 0.00002 * 2799.36/279936 = 0.0000002 Expected value from jackpot bonus: 0.1/279936 = 0.000000357
Total EV = 0.000020157 Works out to be 100.785% EV.
Not much, but better than EV-
(EDIT: This assumes you bet only one one racer. Betting on two or more simultaneously makes it EV- again)
thank you very much for taking the time to make all the maths to tell our players if it is +EV or -EV very much appreciated. but I would like to ask you to present those numbers in ELI5 because we have many users who will not understand your maths this way that you presented it. for example you wrote >>>Expected value from winning the jackpot: 0.00002 * 2799.36/279936 = 0.0000002<<< could you please do this explanation in ELI5 so we all can understand this formula and what the result of 0.0000002 means. I know that it means 20 satoshi but what is it for?? I am confused here and where do you get the number 2799.36 from? thanks again
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PvP
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August 10, 2015, 04:12:09 PM |
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if the Jackpot is not yet hit I am in ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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JackpotRacer (OP)
Legendary
Offline
Activity: 1974
Merit: 1014
All Games incl Racer and Lottery game are Closed
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August 10, 2015, 06:31:54 PM |
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if the Jackpot is not yet hit I am in ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) hey not yet hit ![Sad](https://bitcointalk.org/Smileys/default/sad.gif)
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jambola2
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August 10, 2015, 10:53:16 PM |
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thank you very much for taking the time to make all the maths to tell our players if it is +EV or -EV very much appreciated.
but I would like to ask you to present those numbers in ELI5 because we have many users who will not understand your maths this way that you presented it.
for example you wrote >>>Expected value from winning the jackpot: 0.00002 * 2799.36/279936 = 0.0000002<<< could you please do this explanation in ELI5 so we all can understand this formula and what the result of 0.0000002 means. I know that it means 20 satoshi but what is it for?? I am confused here and where do you get the number 2799.36 from?
thanks again
Alright, let me rephrase it How do we find expected value? (Value of outcome/Total number of outcomes) This can also be written as (Multiplier * Amount bet/Total number of outcomes) Since the only outcome which returns any Bitcoin is winning with your racer, we only consider that.
5.88 multiplier (from site) * 2000 satoshis/6 total racers that can win Hence: Expected value from winning the normal game: 0.00002 * 5.88/6 = 0.0000196
How do we find the expected value of the jackpot? (Multiplier of jackpot * Bet amount/Total number of outcomes) Now, we know that the jackpot odds are 1/279936 Hence: Multiplier * Bet amount/279936 I used some test funds provided by you to check the jackpot amount. Tried it for 4-5 different bet sizes, and found it to be 2799.36x That becomes (2799.36x * 2000 satoshis/279936) Expected value from winning the jackpot: 0.00002 * 2799.36/279936 = 0.0000002
Finally, for the expected value of the jackpot bonus, you can quite easily multiply the bonus prize amount (0.1) with the odds (1/279936) Expected value from jackpot bonus: 0.1/279936 = 0.000000357
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No longer active on bitcointalk, however, you can still reach me via PMs if needed.
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JackpotRacer (OP)
Legendary
Offline
Activity: 1974
Merit: 1014
All Games incl Racer and Lottery game are Closed
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
August 11, 2015, 06:45:23 AM |
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Alright, let me rephrase it How do we find expected value? (Value of outcome/Total number of outcomes) This can also be written as (Multiplier * Amount bet/Total number of outcomes) Since the only outcome which returns any Bitcoin is winning with your racer, we only consider that.
5.88 multiplier (from site) * 2000 satoshis/6 total racers that can win Hence: Expected value from winning the normal game: 0.00002 * 5.88/6 = 0.0000196
How do we find the expected value of the jackpot? (Multiplier of jackpot * Bet amount/Total number of outcomes) Now, we know that the jackpot odds are 1/279936 Hence: Multiplier * Bet amount/279936 I used some test funds provided by you to check the jackpot amount. Tried it for 4-5 different bet sizes, and found it to be 2799.36x That becomes (2799.36x * 2000 satoshis/279936) Expected value from winning the jackpot: 0.00002 * 2799.36/279936 = 0.0000002
Finally, for the expected value of the jackpot bonus, you can quite easily multiply the bonus prize amount (0.1) with the odds (1/279936) Expected value from jackpot bonus: 0.1/279936 = 0.000000357
Thank you very much again for taking the time to try ELI5 very much appreciated. you are saying >>>I used some test funds provided by you to check the jackpot amount. Tried it for 4-5 different bet sizes, and found it to be 2799.36x<<<it will be very important to visit our site again and check the jackpot adjusting to the wagered amount. it just cant be that you wagered different amounts and always had the same jackpot amount. because the maths regarding jackpot can't be correct if the jackpot adjusts to wager amount. if I understood you right the jackpot was always 2799.36 no matter what amount you wagered? btw would you please tell us what the number 2799.36 is? I mean is it 0.00279936? or why the dot36? with dot36 I would say it is 2799.36 satoshi but it would be nice if you could explain those numbers.
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JackpotRacer (OP)
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Offline
Activity: 1974
Merit: 1014
All Games incl Racer and Lottery game are Closed
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August 11, 2015, 10:49:22 AM |
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hey Jambola2 I understood you are checking for promos and their EV + or - for player. nice hobby ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) we have a promo (right now locked because of the Jackpot promo) called " no chance to lose promo" but we had not many takers and I was wondering why? it would be nice if would look it over just to sure we didn't do any mistake and the promo is -EV for players though I am sure that it is one of the best promos ever. the link is https://bitcointalk.org/index.php?topic=1122527.msg11880147#msg11880147thanks
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jambola2
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August 11, 2015, 10:56:49 PM |
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hey Jambola2 I understood you are checking for promos and their EV + or - for player. nice hobby ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) we have a promo (right now locked because of the Jackpot promo) called " no chance to lose promo" but we had not many takers and I was wondering why? it would be nice if would look it over just to sure we didn't do any mistake and the promo is -EV for players though I am sure that it is one of the best promos ever. the link is https://bitcointalk.org/index.php?topic=1122527.msg11880147#msg11880147thanks The thread is locked. If this was done earlier, it is likely that the players don't check the thread because it was locked. And if it is done now, well I guess the promo is over? Thank you very much again for taking the time to try ELI5 very much appreciated.
you are saying >>>I used some test funds provided by you to check the jackpot amount. Tried it for 4-5 different bet sizes, and found it to be 2799.36x<<<
it will be very important to visit our site again and check the jackpot adjusting to the wagered amount. it just cant be that you wagered different amounts and always had the same jackpot amount. because the maths regarding jackpot can't be correct if the jackpot adjusts to wager amount. if I understood you right the jackpot was always 2799.36 no matter what amount you wagered? btw would you please tell us what the number 2799.36 is? I mean is it 0.00279936? or why the dot36? with dot36 I would say it is 2799.36 satoshi but it would be nice if you could explain those numbers.
Sorry, didn't explain optimally. By x I mean times. 2799.36x means 2799.36 * Bet amount That becomes (2799.36x * 2000 satoshis/279936) I made a mistake there, the x doesn't mean anything. So, if you win the jackpot, you get 2799.36 times whatever you had bet.
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No longer active on bitcointalk, however, you can still reach me via PMs if needed.
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JackpotRacer (OP)
Legendary
Offline
Activity: 1974
Merit: 1014
All Games incl Racer and Lottery game are Closed
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August 12, 2015, 05:23:32 AM |
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hey Jambola2 I understood you are checking for promos and their EV + or - for player. nice hobby ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) we have a promo (right now locked because of the Jackpot promo) called " no chance to lose promo" but we had not many takers and I was wondering why? it would be nice if would look it over just to sure we didn't do any mistake and the promo is -EV for players though I am sure that it is one of the best promos ever. the link is https://bitcointalk.org/index.php?topic=1122527.msg11880147#msg11880147thanks The thread is locked. If this was done earlier, it is likely that the players don't check the thread because it was locked. And if it is done now, well I guess the promo is over? sorry again but I asked you for your opinion regarding the promo offer if it is + or - EV for the player? I wrote there why it is closed right now and it will be opened again. it was long enough open that I know that not many user took this promo.
Sorry, didn't explain optimally. By x I mean times. 2799.36x means 2799.36 * Bet amount
That becomes (2799.36x * 2000 satoshis/279936)
I made a mistake there, the x doesn't mean anything.
So, if you win the jackpot, you get 2799.36 times whatever you had bet.
so can we agree that the JP amount is adjusting with your wager amount and to give an easy example that if a user bets 1 Satoshi that the Jackpot amount is 2799 Satoshiand if a user bets 40k Satoshi the the Jackpot amount is 1.119744thank you very much for the help
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JackpotRacer (OP)
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Activity: 1974
Merit: 1014
All Games incl Racer and Lottery game are Closed
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August 12, 2015, 01:21:15 PM |
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join in and try your luck to hit the Jackpot
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JackpotRacer (OP)
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Activity: 1974
Merit: 1014
All Games incl Racer and Lottery game are Closed
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August 12, 2015, 06:29:38 PM |
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we upped the Prize to 0.1 0.15 BTC for the 1st who hits the Jackpot come in and join the hunt
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nickaizoku
Sr. Member
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August 13, 2015, 02:12:14 AM |
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we upped the Prize to 0.1 0.15 BTC for the 1st who hits the Jackpot come in and join the hunt
would love to try again, running out of btc now good luck to all player out there, 0.15 nice price! and if strike jackpot with min wager 2000, have nice payout too
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JackpotRacer (OP)
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Offline
Activity: 1974
Merit: 1014
All Games incl Racer and Lottery game are Closed
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August 13, 2015, 05:08:31 AM Last edit: August 13, 2015, 06:59:29 AM by JackpotRacer |
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we upped the Prize to 0.1 0.15 BTC for the 1st who hits the Jackpot come in and join the hunt
would love to try again, running out of btc now good luck to all player out there, 0.15 nice price! and if strike jackpot with min wager 2000, have nice payout too thank you for the kind words and really sorry that you ran out of BTC because we hoped that you will show up and try your luck to hit the Jackpot. you are still in our Jackpot winners hall of fame holding the highest Jackpot win ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) good luck
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JackpotRacer (OP)
Legendary
Offline
Activity: 1974
Merit: 1014
All Games incl Racer and Lottery game are Closed
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August 13, 2015, 09:34:28 AM |
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guys don't miss the next Jackpot ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
nice action but no hit of contest Jackpot with upped prize of 0.15 BTC if hit
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JackpotRacer (OP)
Legendary
Offline
Activity: 1974
Merit: 1014
All Games incl Racer and Lottery game are Closed
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August 13, 2015, 11:35:03 AM |
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And the Winner is...............huggy ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Congratulations to huggy who hit the Jackpot (0.0560448) and the Prize of 0.15 BTC latest Jackpot winner now in our Hall of Fame
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Alvin Fahriza
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August 13, 2015, 11:37:36 AM |
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And the Winner is...............huggy ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Congratulations to huggy who hit the Jackpot (0.0560448) and the Prize of 0.15 BTC latest Jackpot winner now in our Hall of Fame congratulations huggy you always hunting for jackpot ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) cheers
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PvP
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August 13, 2015, 12:10:41 PM |
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@Alvin Fahriza and @Jackpotracer thank you very much and I really can say it was really tough and I am very happy now that I hit the Jackpot and won some Satoshi ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) waiting for the next promo lol
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JackpotRacer (OP)
Legendary
Offline
Activity: 1974
Merit: 1014
All Games incl Racer and Lottery game are Closed
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August 13, 2015, 02:11:47 PM |
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@Alvin Fahriza and @Jackpotracer thank you very much and I really can say it was really tough and I am very happy now that I hit the Jackpot and won some Satoshi ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) waiting for the next promo lol next promo will be out later today ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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PvP
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August 13, 2015, 02:54:31 PM |
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@Alvin Fahriza and @Jackpotracer thank you very much and I really can say it was really tough and I am very happy now that I hit the Jackpot and won some Satoshi ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) waiting for the next promo lol next promo will be out later today ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) sounds good but could it be that you didn't send the prize? I don't see it on my MP account
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JackpotRacer (OP)
Legendary
Offline
Activity: 1974
Merit: 1014
All Games incl Racer and Lottery game are Closed
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
August 13, 2015, 03:55:05 PM |
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@Alvin Fahriza and @Jackpotracer thank you very much and I really can say it was really tough and I am very happy now that I hit the Jackpot and won some Satoshi ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) waiting for the next promo lol next promo will be out later today ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) sounds good but could it be that you didn't send the prize? I don't see it on my MP account please let me check it
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JackpotRacer (OP)
Legendary
Offline
Activity: 1974
Merit: 1014
All Games incl Racer and Lottery game are Closed
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
August 13, 2015, 04:04:30 PM |
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@Alvin Fahriza and @Jackpotracer thank you very much and I really can say it was really tough and I am very happy now that I hit the Jackpot and won some Satoshi ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) waiting for the next promo lol next promo will be out later today ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) sounds good but could it be that you didn't send the prize? I don't see it on my MP account it was not send to your MP account, it was send to your Jackpotracer app account please check it and confirm if you received it thanks
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