So you are saying that with 100 games which is 1% house edge you are suppose to lose 0.3 at one time but instead of losing once you are losing twice so that means it is lower than 1% of the house edge. 0.5% per lost? Because in my perception when you are doing 100 games with 1% house edge you tend to lose only 1 times right? 1% of 100 games should be 1 but you have 2 loses although the amount that you wagered is almost 1% of the wagering. Is this what you meant?
Int the game Betwrong has played, the probability of winning is 98%. So, he lost 2/100 games. The house is 1%, so he lost 1% of the amount he wagered