Topic: sometimesPositiveEV - bitcoin gambling idea (Read 549 times)
I believe this type of idea has been done over and over again.
yet another idea to just stir the pot of currency in circles without expanding its reach.when is the next business plan that is going to come along which actually gets non bitcoiners involved. i havent seen one for a while.
just more mixer ideas where the inventor skims 2% off the top.
peter pays in, paul cashes out and jack takes his cut.
Bad idea, how you going to make it provable? And I feel gambling is dumb, can't you make a real idea, instead of being just greedy.
How it works:
> Throw coins into a wallet.
50% of the coins are added to the jackpot.
28% of the coins are added to the side jackpot.
20% of the coins are added to the next jackpot.
2% of coins are kept by the house.
For every 0.01 BTC coin you deposit, you have a 1 in 10,000 chance of winning the jackpot, and a 1 in 100 chance of winning a tenth of the current side jackpot.
If the pot is 105 BTC, you have a positive EV.. and that's not even counting the side jackpot. Obviously at the start the EV will be less but the 20% that goes to the next jackpot could help.
> Throw coins into a wallet.
50% of the coins are added to the jackpot.
28% of the coins are added to the side jackpot.
20% of the coins are added to the next jackpot.
2% of coins are kept by the house.
For every 0.01 BTC coin you deposit, you have a 1 in 10,000 chance of winning the jackpot, and a 1 in 100 chance of winning a tenth of the current side jackpot.
If the pot is 105 BTC, you have a positive EV.. and that's not even counting the side jackpot. Obviously at the start the EV will be less but the 20% that goes to the next jackpot could help.
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