Some trap questions huh. 
I have no idea what you're talking about
Also, a pain in the ass to convert them to get them all equal rather than just tossing random ones there, and yes the 1.85 is the only one missing from this conversion table
Topic: Test your knowledge about gambling topics! Might be merits inside! (Read 179 times)
December 31, 2024, 12:11:17 PM
I have no idea what you're talking about
Also, a pain in the ass to convert them to get them all equal rather than just tossing random ones there, and yes the 1.85 is the only one missing from this conversion table
December 31, 2024, 12:05:27 PM
1/1, 2.10, +105
7/4, 2.75, +175
4/5, 1.85, -118
5/6, 1.95, -110
3/1, 4.00, +300
Some trap questions huh.
-118 I had to fact check myself, the others were pretty straight forward.
7/4, 2.75, +175
4/5, 1.85, -118
5/6, 1.95, -110
3/1, 4.00, +300
Some trap questions huh.
-118 I had to fact check myself, the others were pretty straight forward.
December 31, 2024, 12:00:52 PM
this one.
I updated the explanation, you need to choose the best odds from each line, each line contains 3 odds , all written different and of different value.[/list]
[/quote]
okay.
2.10
2.75
1.85
1.95
+300
updating my answer.. I hope I got it right.
December 31, 2024, 11:57:03 AM
I updated the explanation, you need to choose the best odds from each line, each line contains 3 odds , all written different and of different value.
Is there a way bookies try to prevent this from happening? It may be impossible to collude and ensure there are no arbitrage opportunities, far too many bookies out there. But can they make this illegal and are there any known cases of players getting banned for exploiting this?
- Jay -
- Jay -
Yes, all bookies run the same arbitrage bots that gamblers to do find those bets and are adjusting the odds to prevent it, if you're found out they will most likely limit your account as the practice is not illegal , much like buying account here, frown upon but not banable offense.
December 31, 2024, 11:56:22 AM
...
Meaning you have 3.7% ROI on this arbitrage.
Is there a way bookies try to prevent this from happening? It may be impossible to collude and ensure there are no arbitrage opportunities, far too many bookies out there. But can they make this illegal and are there any known cases of players getting banned for exploiting this?Meaning you have 3.7% ROI on this arbitrage.
- Jay -
December 31, 2024, 11:51:50 AM
December 31, 2024, 11:45:17 AM
Added a bit of merit to the answers.
Now, I see some of you have deleted your posts, there is no reason to do so even if the answer is wrong, I appreciate a lot more people that try and fail at doing soemthign different than a thousands shitpots in a mega thread so no reason to do so.
So round 3 and this will run till the 2nd, so anyone who wants some merit and test his knowledge, here you go:
The following odds are British, European and American, each line has three of those of different values, you need to choose the best odds from each line
Now, I see some of you have deleted your posts, there is no reason to do so even if the answer is wrong, I appreciate a lot more people that try and fail at doing soemthign different than a thousands shitpots in a mega thread so no reason to do so.
So round 3 and this will run till the 2nd, so anyone who wants some merit and test his knowledge, here you go:
The following odds are British, European and American, each line has three of those of different values, you need to choose the best odds from each line
Quote
- 1/1, 2.10, +105
- 7/4, 2.75, +175
- 4/5, 1.85, -118
- 5/6, 1.95, -110
- 3/1, 4.00, +300
copper member
Activity: 2800
Merit: 1179
Leading Crypto Sports Betting & Casino Platform
December 30, 2024, 12:09:03 AM
Quote
Bookmaker A: Player 1 to win (2.05), Player 2 to win (1.85)
Bookmaker B: Player 1 to win (1.90), Player 2 to win (2.10)
Question:
Is there an arbitrage opportunity, and assuming you have one, how much could you get out of it in profit assuming no extra fees from any bookmarker?
Bookmaker B: Player 1 to win (1.90), Player 2 to win (2.10)
Question:
Is there an arbitrage opportunity, and assuming you have one, how much could you get out of it in profit assuming no extra fees from any bookmarker?
You can arbitrage by betting on Bookmaker A (Player 1 to win) and Bookmaker B (Player 2 to win) since both combined lowest implied probability is below 100% which means arbitrage betting is possible.
Player 1 (2.05)48.78% + Player 2 (2.1)47.62% =96.4%
So calculating the implied probability for the 2 bets will be 48.78/96.4 = 50.60% and 47.62/96.4= 49.40%.
Let’s say we have 10$ bankroll we can compute the amount of each bet both ways by multiplying the bankroll to percentage computed above.
Giving as:
Player 1 = 50.6% x 10$ = 5.06$
Player 2 = 49.4% x 10$ = 4.94$
Finally:
If Player A win = 5.06$(bet) x 2.05(sportsbook odds) = 10.37$
If Player B win = 4.94$(bet) x 2.1(sportsbook odds) =10.37$
Meaning you have 3.7% ROI on this arbitrage.
December 29, 2024, 01:51:22 PM
Ok so we got enough traction for a start and as I said I will still award effort even if the math is wrong, I will however from next set count maybe only top 3 answers, as I'm not a merit source and I will like also to reward complete correct answers more as well as overall contributions.
So here we go, Round 2, and this will be harder:
Tennis match with two bookies with the following odds:
So here we go, Round 2, and this will be harder:
Tennis match with two bookies with the following odds:
Quote
Bookmaker A: Player 1 to win (2.05), Player 2 to win (1.85)
Bookmaker B: Player 1 to win (1.90), Player 2 to win (2.10)
Question:
Is there an arbitrage opportunity, and assuming you have one, how much could you get out of it in profit assuming no extra fees from any bookmarker?
Bookmaker B: Player 1 to win (1.90), Player 2 to win (2.10)
Question:
Is there an arbitrage opportunity, and assuming you have one, how much could you get out of it in profit assuming no extra fees from any bookmarker?
December 29, 2024, 12:59:40 PM
I saw that some casinos in Vegas (maybe also other places) even have a triple 0 roulette, that's actually insane. 7.69% house edge on roulette while European roulette has 2.7%. Nobody in their right mind would chose a higher house edge. Still it seems that some gamblers play this.
There are some gamblers who actually get money from the house to gamble with (because they're gigantic loss leaders), so it doesn't surprise me that the higher house edge games have more "bling" and promo to them.
December 29, 2024, 10:50:07 AM
The answer was already posted so there is only one more thing to add, don't play American roulette.
I mean, if you had the choice between European and American roulette, who would actually chose a game with a higher house edge over the better version?
I saw that some casinos in Vegas (maybe also other places) even have a triple 0 roulette, that's actually insane. 7.69% house edge on roulette while European roulette has 2.7%. Nobody in their right mind would chose a higher house edge. Still it seems that some gamblers play this.
December 29, 2024, 10:27:28 AM
…
You should check carefully the details of the question. It’s 1$ per bet and you will do it for 100 times meaning you have 100$ bankroll in total not 10,000$ which you use on your computation.
You failed to include the house edge per bet which is crucial to get the potential outcome on 100 tries.
The first answer above is correct which is 94.74$ if copying answer is allowed since the calculation is already brought up. Or -5.26 EV
December 29, 2024, 10:18:33 AM
First question:
An American roulette has 38 numbers (1-36, 0, and 00). The probability of winning if you bet on a singular number is 1/38. We know that the payout if you win is 35 to 1 which means you bet a dollar and if you win you walk away with $35. Any winning number will give you a 0.026% chance (1/38). Now the probability you will lose is 37/38 which is 0.973% chance. Quote
You play American roulette betting $1 100 times on a single number, what's your probability of loss on each spin
Quote
will be the expected value of your wallet after all 100 plays?
Important to note that house edge always exists and you can never beat it. So how do we calculate this? Taking all the probabilities of you winning, losing, and taking as well the amount you will lose or the payout in case you win and multiplying all them will give you -0.052. Basically means you’ll be losing this much even after 100 bets. This is consistent with other formulas and calculations I have seen but if I am wrong, I would like to know! 
December 29, 2024, 10:13:40 AM
Quote
You play American roulette betting $1 100 times on a single number, what's your probability of loss on each spin and will be the expected value of your wallet after all 100 plays?
Geez, I'm not very good with numbers, but I'm going to try to guess some crazy calculations here...
I confess that I did some research to be sure of some things, if this is illegal, please make that clear and don't feel bad about disqualifying me.
Here we go...
In American roulette, the wheel has 38 pockets considering the numbers 1 to 36, plus the pockets 0 and 00. So, when betting $100 on a single number, the probability of winning is 1 in 38, that is... approximately 2.63%. Likewise, the probability of losing on each spin is 37 out of 38, or 97.37% (I hope I've done my math right so far).
To calculate the expected value of the wallet after 100 spins, you need to multiply the probability of losing by the amount bet and the number of spins:
Code:
Amount Bet * Probability of Loss * Number of Spins
$100 * (37/38) * 100
$100 * 0.9737 * 100
Expected Value = $9737 $100 * (37/38) * 100
$100 * 0.9737 * 100
Therefore, after 100 spins of $100 on a single number on American roulette, the expected value of the player's wallet would be $9737, assuming the bet is made on the same number on each spin.
I have no idea if I did the math correctly, I just went with my logic that seems to make more sense.
December 29, 2024, 09:59:45 AM
Answer:
American roulette has 38 number meaning the chance of losing per bet on a single digit is 37/38 which is equal to 97.3684%.
The theoretical house edge of American Roulette is 5.26% using this formula −1 × 37⁄38 + 35 × 1⁄38 = −0.0526 (5.26% house edge) available on Wiki
That gives
1$ x -0.0526 x 100 =-5.26$ loss
So the remaining balance will be 94.74$.
American roulette has 38 number meaning the chance of losing per bet on a single digit is 37/38 which is equal to 97.3684%.
The theoretical house edge of American Roulette is 5.26% using this formula −1 × 37⁄38 + 35 × 1⁄38 = −0.0526 (5.26% house edge) available on Wiki
That gives
1$ x -0.0526 x 100 =-5.26$ loss
So the remaining balance will be 94.74$.
December 29, 2024, 09:35:53 AM
What is the bet type we will consider for that 100 times bet? Is it single bet or others since there’s a lot of betting option in roulette games.
I do some research and the difference of American roulette is the double 0 right? I will edit this for my answer.
Anyway I think rewarding merit is alright.
I do some research and the difference of American roulette is the double 0 right? I will edit this for my answer.
Anyway I think rewarding merit is alright.
Single bet on a single number and yes, American roulette, I updated the question to be clearer!
LE
I will consider a rule about posts that seem copy pasted from previous answers to deter cheaters but I will leave that to the community.
I seriously don't want this to get more complicated and become a pain in the ass rather than a fun topic.
December 29, 2024, 09:34:27 AM
What is the bet type we will consider for that 100 times bet? Is it single bet or others since there’s a lot of betting option in roulette games.
I do some research and the difference of American roulette is the double 0 right?
Anyway I think rewarding merit is alright.
I do some research and the difference of American roulette is the double 0 right?
Anyway I think rewarding merit is alright.
December 29, 2024, 09:28:44 AM
From the start, I don't know if the merit reward is ok with the mods and the rules in this board, I will take my risks with it initially and as true gambler deal with the consequences myself later.
So, things are pretty easy, since I got bored of usual endless discussions and I saw that there is some traction from some members who actually want to learn, this is the result of it, a topic strictly about gambling, definition, strategies, types, whatever crosses my mind the day before.
Rules for it are pretty lax:
- I ask a question, everyone is free to answer as he sees fit or just comment on the question
- First 5 correct answers will get merits from me (and maybe from the rest of readers)
- No editing!!!! So don't type a reply with one letter then edit it with the answer, that will get you blacklisted, don't be an asshole!
- use ChatGPT and I will report you!
Questions will be posted in topic to avoid people quoting only the opening post
So, things are pretty easy, since I got bored of usual endless discussions and I saw that there is some traction from some members who actually want to learn, this is the result of it, a topic strictly about gambling, definition, strategies, types, whatever crosses my mind the day before.
Rules for it are pretty lax:
- I ask a question, everyone is free to answer as he sees fit or just comment on the question
- First 5 correct answers will get merits from me (and maybe from the rest of readers)
- No editing!!!! So don't type a reply with one letter then edit it with the answer, that will get you blacklisted, don't be an asshole!
- use ChatGPT and I will report you!
Questions will be posted in topic to avoid people quoting only the opening post
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