How 20 people can become rich AF

>there's a probability of 1/20 to win 10 games of dice in a row
uh, no

That's not how math works retard. With a 50% chance of winning each roll. 10 wins in a row gives you odds of 1/1024.

when I say dice I mean 50/50 dice

so you have a 1/2 probability of winning any one game, so your probability of winning 10 games in a row is (1/2)^10 = 1/1024

>How 20 people can lose $20,000 at dice

the odds are actually 1 in 1024

Holy shit

So many brainlets on Veeky Forums gambling around their life savings. Doesn't even understand basic probability LOL.

Thanks Common Core

>>my fucking sides

I know you are trolling but I like maths:

1. The probability of winning 10 dice games if you are betting even/odds is 1/2 ^ 10 or ~0.00097. Betting on a single number on a six-sided die would be ~1.6 x 10 ^ -8.

2. Probabilities of independent events do not add. The probability is the same for each player, even if they are in the same game.

3. The only way to conceivably do this is to have collusion between the players in the same game. Half bet evens, and half bet odds. Then the losers leave, and half of the remaining bet events on the next round, half odds. Repeat until the end. You will need approximately 1030 people to accomplish this. Assuming the prize is $1M, that would net every person $970.

tl;dr congrats you just cost all your friends $30

Ok new plan
>1024 guys each with $1000
>1 gets a winning streak of 10 games, makes $1,024,000
>divides the money evenly, each person gets back their $1000
>each cycle, one person that is randomly chosen will add $1 to their stack
>if that person makes the winning streak, then each person gets back $1001
>repeat
statistically, the person adding $1 is bound to make the streak after at least 1024 cycles, so at the end people are still making profits!

Jesus christ....

Here's what you do. Bet a small amount on the 50/50 dice. Every time you lose, double your next bet. Eventually you will win, with enough to cover your previous bets and then some. Then start the process over at the beginning. Repeat until rich. There's still a chance you will hit an epic losing streak and lose everything, but at least it's not some convoluted retarded shit like what you're talking about.

the house still has the edge in that case

This doesn't work either.

Firstly, the profit from each gambling cycle can only ever be your original bet. Say you start with $1 and the odds don't go your way for four consecutive bets. You've spent 1 + 2 + 4 + 8 = 15. The next bet (16) goes your way, and you've made your $1 back.

To make any money from this you would need many iterations, and statistically speaking you will at some point lose it all.

Another assumption is that gambling odds = cold hard probability. While a coin toss is statistically 50/50, stocks and sport odds reflect market sentiment not maths.

Pic related, it's a test I just wrote. If you can find a flaw in the logic let me know. I'm tired. I'm lonely.

Wouldn't it be better to double your lost bet and add a bit more? that way once you win then you made back everything + some profit, which makes it easier to continue. I've tried that strategy many times and as long as you don't get greedy that's guaranteed profits, unless of course you make a huge losing streak at the beginning, but statistically it shouldn't happen too much.
If that's true then theoretically, the ratio of games (where a game is a session of lets say 10 rolls) where you get out with profits should be greater than the number of games where you lose. Would that work?

Take a class in statistics.