How much more would you gamble if you found a provably fair EV+ casino? - page 2.

XinXan

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Quote from: jambola2 on July 19, 2015, 11:06:25 AM

Quote from: XinXan on July 19, 2015, 10:54:16 AM

Quote from: vennali on July 19, 2015, 09:49:23 AM

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

jambola2

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Quote from: XinXan on July 19, 2015, 10:54:16 AM

Quote from: vennali on July 19, 2015, 09:49:23 AM

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+

XinXan

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Quote from: vennali on July 19, 2015, 09:49:23 AM

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.

jambola2

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Quote from: magicmexican on July 19, 2015, 09:25:02 AM

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.

vennali

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#SWGT CERTIK Audited

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 .

yakuza699

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Quote from: crazyjack on July 19, 2015, 09:33:07 AM

Quote from: jambola2 on July 19, 2015, 06:26:13 AM

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.

crazyjack

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Quote from: jambola2 on July 19, 2015, 06:26:13 AM

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.

RHavar

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Quote from: jambola2 on July 19, 2015, 06:26:13 AM

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.

magicmexican

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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.

ticoti

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I would make many small bets,as in the long term I would have to have profit

fox19891989

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Quote from: jambola2 on July 19, 2015, 06:26:13 AM

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. Grin

u9y42

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Quote from: jambola2 on July 19, 2015, 06:26:13 AM

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. Cheesy

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.

subSTRATA

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:^)

Quote from: jambola2 on July 19, 2015, 06:26:13 AM

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.

jambola2

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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?

Topic: How much more would you gamble if you found a provably fair EV+ casino? - page 2. (Read 1187 times)