Topic: ⚖️ Crypto Gambling Foundation ⚖️ - Fair Gambling For All - page 7. (Read 25567 times)

Yes, I do.

How much should a player expect to lose playing a game with a 0.5% house edge after wagering $9,500,000?

It's a simple question, I'm honestly curious to see if you know how to calculate it.

If you get stumped, I've explained how to do it already in this thread.

Do you know how to calculate how much you should expect to lose after wagering $9.5 million at a game with a 0.5% house edge and 0,5% rewards received?

Ok, change hands to bets then.

If the house edge is 0.5% that means on average the casino expects to profit 50 cents for every $100 wagered.

You wagered about $9.5 million, correct?  Do you know how to calculate how much you should expect to lose after wagering $9.5 million at a game with a 0.5% house edge?

That's wrong because you don't always win 1x your money in blackjack.  When you are dealt a black jack you win 1.5x your bet.  Even if the house edge were 0%, you would still lose more hands than you win because on average you win more than 1x your bet.

I don't know how to make it any more clear.  Why not just do a little bit of research or ask anyone that understands blackjack and has some very basic education since you obviously don't believe me.

BlackJack is not the same as flipping a coin.  

When you play one round of black jack, which is what the stats refer to as a "bet", these are the probabilities  for each of the three possible outcomes:


(they will vary slightly depending on the rules being used)

As you can see, unlike when you flip a coin, you are significantly more likely to lose than to win.  This is due to two factors:

A) The house edge
B) Your average win is slightly more than your average loss since blackjack pay out 3-2, not even money.

B is the one you keep ignoring.  Stop ignoring it.  Better odds when you win = you will win less often.  It's not a coin flip.  The average win is greater than even money.



Also, for what it's worth, the very fact that you still are not able to comprehend these fairly simple concepts makes it extremely unlikely that you are capable of playing optimal strategy.  

I try since 5 months to get a statement from Stake or the Crypto Gambling Foundation!

PROOF OF THE SCAM

Info 1)

The advertised house edge for the Stake in-house Black Jack is 0,5%, which means longterm I will lose 0,5% of all bets placed.

However, if you take a look at my statistics here https://ibb.co/Hxf8NpR you can see the following total numbers:

Bets: 180,904

Wins: 78,285

Losses: 86,612

If we reduce the number of wins from the number of losses, we can see that I lost 8,327 bets (86,612 minus 78,285 = 8,327)

Losing 8,327 bets out of 180,904 bets placed = 4,6% of the bets lost.

0,5% house edge out of 180,900 bets placed I should lose 900 bets + a possible small deviation.

8,327 bets lost - 900 bets I should lose = 7,427 bets too much lost.


Info 2)

Bets

After 180,900 bets, the technically maximal possible deviation is 0,4% from the expected outcome according to the law of large numbers (See Info 3).

180,000 bets x 0,4% = 720 bets I could maximal additionally lose on top of the 900 bets I will lose based on the 0,5% house edge.

7,427 bets too much lost minus 720 bets I can additional maximal lose = 6,707 bets = additional 9,3 times on top of the maximal possible deviation!

House edge

0,5% house edge = 900 bets plus 720 bets I can maximal additionally lose = 80% additional maximal possible house edge.

0,5% house edge plus 80% = 0,4% additional maximal possible house edge = 0,9% maximal possible house edge!

Experienced house edge 4,6% minus 0,9% maximal possible house edge = 3,7% additional house edge!

3,7% additional house edge : 0,4% additional maximal possible house edge = additional 9,3 times on top of the maximal possible deviation!

Stake's own statistics is 100% proof that their in-house Black Jack system is rigged!


Info 3)

When the house edge is 0,5% and you placed 180,900 bets, you will lose 900 bets and the remaining 180,000 bets are coin flips.

The remaining 180,000 bets are coin flips, because they are neutral and you will win 50% = 90,000 bets and lose 50% = 90,000 bets.


Now let's take a look at the technically maximal possible deviation for 180,000 coin flips:

A) Standard deviation for 180,000 coin flips = 212 coin flips = 0,12% (In 68% of all attempts, the deviation is up to 0,12%)

B) 3 times standard deviation for 180,000 coin flips = 0,36% (In 99,7% of all attempts, the deviation is up to 0.36%)
 
What does 99,7% mean?

When you make 333 times a serie of 180,900 bets, then 332 times the deviation from the expected outcome will be up to 0,36% and only one time the deviation will be higher than 0,36%.

I was not able to find how much the deviation could be in this one case where it is higher than 0,36%, but likely not more than 10% of the 0,36% = 0,4%.


Info 4)

The Stake bet transaction history only states 180,900 single bet events and no overview of my experienced house edge.

To get my experienced house edge from the bet transaction history, I would need to take a look at all 180,900 bets and calculate it manually!

If the cards were dealt fair and I lost only 0,5% of all bets placed while the statistics states that I lost 4,6%, then the Stake statistics is rigged!

In either case, the Stake in-house Black Jack system is provably rigged and Stake has to compensate at least the 30,000 USD I lost from my pocket.

The stupid nonsense for pennies poster is not able to say who is "under Curacao license"?

So you claim that someone (or something) you do not know who it is permits their licensees to use crypto currencies! 

It's not nice to try and change the subject with ad hominem attacks or ask questions you know the answer to.  I understand why you're doing it, but the only message it really gets across is you're angry and can't put together an on topic coherent response that doesn't make you look like even more of an idiot.

Why does Sportsbet.io pay you pennies for making nonsense posts and hurt the entire industry?

Are they trying to attract idiots like you as customers?

Problem is that idiots often do not have much money and that is why you receive only pennies for your nonsense posts!

If you would be able to attract intelligent and rich people with high quality posts, they could pay you much more.



Who is "under Curacao license"?

You already know that under curacao licenses don't regulate crypto yet but permit their licensees to use it.

https://the-emgroup.com/updates-on-the-modernization-of-the-curacao-online-gaming-legislation/#:~:text=Cryptocurrency%20is%20not%20(yet)%20regulated,'crypto'%20enters%20into%20force.


The only thing you're proving is that you're either an idiot or you're trying to get Stake to pay you to stop spreading lies about them (extortion).  I think it's probably both.

Any site that gives you even 1 penny for the nonsense you post should be ashamed as it would only hurt the entire industry.

Now you have to consider it serious!  


@ Fivestar4everMVP

Please ask your employer to show their license to operate a crypto currency online casino?

They haven't been active since your first post.

Also your entire argument is nonsense.  The only thing you've proven is that you are very, very bad at math and too weak to admit or too dumb to understand your mistakes.  Probably a little of both.

Bijan, Chris, Edward, Mladen?

This is not proof of scam.  It's really just proof that either you don't understand very basic math concepts or you don't want to learn very basic math concepts because you understand they will disprove your entire argument.  

When you play one round of black jack, which is what the stats refer to as a "bet", these are the probabilities  for each of the three possible outcomes:


(they will vary slightly depending on the rules being used)

As you can see, you are significantly more likely to lose than to win.  This is due to two factors:

A) The house edge
B) Your average win is slightly more than your average loss since blackjack pay out 3-2, not even money.

B is the one you keep ignoring.  Stop ignoring it.  Better odds when you win = you will win less often.

Ok, then ask your employer to show their license to operate a crypto currency online casino?



1) I asked the Crypto Gambling Foundation administration to explain how it is fair to lose 4,6% of bets while the advertised house edge is 0,5%


2) I posted proof how Stake scammed me:



Are you blind?



Yes, I can do this.



I do not expect anything from signature spammer posters!

You even have not noticed that I posted the evidence multiple times!



1) I did not ask for your answer!

The only thing I ask you to do is to ask your employer to show their license to operate a crypto currency online casino?

2) Yes, I can inform the community how Stake scams its customers!



Doubtful that people making nonsense posts for cents lost a significant amount of money.



I am rich and I am very well prepared to lose money, but I am not prepared to get scammed!

I have the time and financial resources to hold scammers like Stake accountable.

In my case, scammers like Stake better settle the scam.



If you are too stupid to understand basic things, then you should not do nonsense posts for cents in my opinion  

Your point is clear enough bud, this is one of the major issues in the  gambling community which I don't think there will ever be a solution to, that is, losing money one initially did not intend to lose, and then out of anger, start looking for means to try to stain the casinos reputation by accusing them of scam or something similar..

The best answer or response to such accusation is to just read and ignore, that is, any accusation without proper evidence or proof, should not be considered serious.

In time past, I've read about gambler who lost money to a casino, out of anger and frustration, they go and rob, or try to rob the casino, things like this wil always be.

Man, no one is trying to cover anyone. It is about you using this thread to accuse a casino of scamming their gamblers, you cannot do that and do not expect people to call you out about it if you continue to do so without some evidence.
So we are just answering back to your points and letting you know that you cannot just do what you are doing and try to smear a service, it would happen not matter what casino or service you would be accusing and bad mouthing.

If you have lost a signicant amount of money, then I understand you feel angry, it has happened to most of us, however this is not the right reaction to have when losing to a casino. You know?. Were you not prepared to lose money before logging in ? Then you should not gamble. In my opinion.   

Can you show me some sort of evidence that Curacao prohibits sites that it licensed from operating with crypto?   Because that would be weird considering theyve licensed so many crypto casinos.

Oh wait here you go:

https://the-emgroup.com/updates-on-the-modernization-of-the-curacao-online-gaming-legislation/#:~:text=Cryptocurrency%20is%20not%20(yet)%20regulated,'crypto'%20enters%20into%20force.


You'll have to wait for the regulator to regulate crypto to see the crypto license.

The license you explained is not valid for crypto currencies!

@ tusandii

Please ask your employer to show their license to operate a crypto currency online casino?

Why do not you ask?

Are you covering up your employer?

You're only proving what an idiot you are.

When you play one round of black jack, which is what the stats refer to as a "bet", these are the probabilities  for each of the three possible outcomes:


(they will vary slightly depending on the rules being used)

As you can see, you are significantly more likely to lose than to win.  This is due to two factors:

A) The house edge
B) Your average win is slightly more than your average loss since blackjack pay out 3-2, not even money.

B is the one you keep ignoring.  Stop ignoring it.  Better odds when you win = you will win less often.