GG Spin and Go is Insurance profitable?

[ms_attack]

Is there by any chance someone who has mathematically calculated whether it is worth taking out insurance with GG Poker Spin and Gold?

Is it even mathematically profitable to play Spin and Gold?

What do you think?

 

[Andyreas]

Is there by any chance someone who has mathematically calculated whether it is worth taking out insurance with GG Poker Spin and Gold?

Is it even mathematically profitable to play Spin and Gold?

What do you think?

No, it certainly is not.

Another way for GGPoker to make some extra profit.

You pay an additional buy-in per game and get it back (incl. premium) when you only hit the 2x multiplier. So this has to happen more than 50%.

If you look at the probabilities of the multipliers, it happens in less than 50%, so it's -EV.

 

[G0930]

Is there by any chance someone who has mathematically calculated whether it is worth taking out insurance with GG Poker Spin and Gold?

Is it even mathematically profitable to play Spin and Gold?

What do you think?

There's a strategy for everything .
You can be profitable with Spin&gold plus insurance just like it's possible to be in the Green numbers at Allin Or Fold
The jist is never play one single one ..
Advance it to 3 or 4 and for some of them you get the buyin back instantly and focus .
You can make nice profit that way .

 

[luckyfish98]

everything is invented by them just to lure you
better play and do what you are good at, because experiments in the poker game are just a waste of money

 

[Goggelheimer]

Is there by any chance someone who has mathematically calculated whether it is worth taking out insurance with GG Poker Spin and Gold?

Is it even mathematically profitable to play Spin and Gold?

What do you think?

Thanks to Andy as math genius, I made it with gut feeling .

 

[G0930]

Thanks to Andy as math genius, I made it with gut feeling .

I assume the answer is no ?
But did you take skills as a variable into your work? Will surely influence the outcome

 

[Andyreas]

I assume the answer is no ?
But did you take skills as a variable into your work? Will surely influence the outcome

Yes, the opting for the insurance is not profitable.

Whether you can be profitable in Spin & Gold (without insurance) surely depends on your skills.

 

[G0930]

Yes, the opting for the insurance is not profitable.

How so when you play 4 , get the money Back in let's say 3 of the 4 and you win 2 of the 4
That's profit 🤷🏼‍♂️

 

[fundiver199]

If you dont want the extra variance from lottery style games, then just play regular SnGs. GG Poker dont have them, but several other sites do. No offence but this sounds like one of the dumbest ideas ever. Except of course for the profit hungry owners of GG Poker

 

[Andyreas]

How so when you play 4 , get the money Back in let's say 3 of the 4 and you win 2 of the 4
That's profit 🤷🏼‍♂️

Yes, on a small sample size, you can definitely win some with it.

But looking at the pure stats:
At 3-max you win twice the buyin with the 2x multiplier which happens in 47.6% of the cases.

So mathematically it's a -2.4% in the long run.

 

[G0930]

Yes, on a small sample size, you can definitely win some with it.

But looking at the pure stats:
At 3-max you win twice the buyin with the 2x multiplier which happens in 47.6% of the cases.

So mathematically it's a -2.4% in the long run.

Would be interesting to know how the numbers would look like with probability of higher multipliers which would ,given that you win ,compensate for that low percentage no?

I mean no format can be profitable forever .
Attention span decreases and we make mistakes.
But if you do play smaller sessions I am pretty sure the numbers would be different and can be profitable.
E.g AllinOrFold.
You will ultimately lose if you continue playing but if you got the right timing you make a nice profit.
Pros make thousands in that format lol

 

[Andyreas]

Would be interesting to know how the numbers would look like with probability of higher multipliers which would ,given that you win ,compensate for that low percentage no?

But all of that is independent of the insurance, right?

That bit himself cannot be profitable, as overall the insurance industry also has to make some money.

 

[pjokay]

Not keen at all on all the extra gambling elements. ACR had something similar where you could double your profit on a flip at then end. Long term you are just throwing money away.

 

[G0930]

But all of that is independent of the insurance, right?

Yes ofc

That bit himself cannot be profitable, as overall the insurance industry also has to make some money.

Not the insurance itself but it's definetly easier this way to have lower investment. .
You say almost half the time it's 2x . Well then half the time you get your buy in back.
Other half is mostly 3x which gives you only 1 buy in back.

Bottom line .
More experienced players can exploit the insurance system for a short period of time.
Not for long though,the math gives you right

 

[Goggelheimer]

I assume the answer is no ?
But did you take skills as a variable into your work? Will surely influence the outcome

As long as there is a free daily option I am profitable, even without insurance.
And yes it's a no for me.
And it's $9,70 because of GG tax.

 

[G0930]

As long as there is a free daily option I am profitable, even without insurance.
And yes it's a no for me.

Nice , but would still be in profit with that multiplier despite an insurance.😜

I like insurance especially with the freebie..cause it's almost 50/50 that I get a profit without even playing ...since one buy in is already paid with the ticket

 

[G0930]

And it's $9,70 because of GG tax.

Wrong it's 9,85$ you forget their 50% rakeback promo🤣
Oh shit probably not available in germany right ?

 

[Goggelheimer]

Wrong it's 9,85$ you forget their 50% rakeback promo🤣
Oh shit probably not available in Germany right ?

no only 20% plat fish
so rake is $0.08, tax is not rake damn

 

[ms_attack]

I see that I have made a good suggestion with my question.

It helps me to know that it doesn't make mathematical sense.

My background to the question was also because I won a couple of TDollars and want to invest them in the SPIN and Gold. With the insurance I have a guaranteed conversion to real cash and with my skill I may be able to get even more out of it.

 

[G0930]

no only 20% plat fish
so rake is $0.08, tax is not rake damn

course not... but we don't get taxed for winnings. Why do you think so many German pros live in Vienna ? Like Ole Schmemion or Fedor Holz

 

[G0930]

I see that I have made a good suggestion with my question.

It helps me to know that it doesn't make mathematical sense.

Absolutely no mathematical sense yes ! But I like to speculate.. made a nice little fortune by investing in btc last year before the rapid rise in value the last half year ^^

 

[sibkaz]

I specially tried it today with or without insurance... 6 times... it didn't work! Natural selection is already underway there)))

 

[G0930]

I specially tried it today with or without insurance... 6 times... it didn't work! Natural selection is already underway there)))

So 6 times 3x and lost ?^^

 

[sibkaz]

I haven't received insurance once))) By the way... Smokey was listening)))

 

[sibkaz]

What can I do))))))