My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“The business is math. They're just using math, right?”
What It Means
Profitable games/challenges are fundamentally about understanding statistical probability and pricing accordingly
Why It Matters
Reframes entertainment businesses as mathematical exercises rather than pure entertainment, enabling calculated profitability
When It's True
When you can accurately calculate odds and control variables affecting outcomes
When It's Risky
When skill can significantly influence outcomes or when regulations restrict gambling-style operations
How to Apply
Calculate true odds of any challenge or game outcome
Price attempts to ensure mathematical house edge
Focus on volume to make statistics work in your favor
Example Scenario
“Setting up basketball shooting challenge - research actual success rates for different distances, price attempts to ensure 70% profit margin even after payouts”
Related Knowledge
Math as a Service Business Model
A business model that uses statistical probability and known odds to create profitable games or challenges, essentially functioning as an outdoor casino with favorable house edge.
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