Bitcoin Forum

We always start betting at small amount of bitcoin and suddenly make it grow but whenever we reach such amount we always lose alot even when you change your winning chance to 90% or 95% you will get 5 losing streak. Is this just coincidence or just sites have those kind of stuff that make it happen??

maybe your luck at the beginning, try to start with a large bett, then if the win go run: D 8)

They are always use the same answer provably fair. Systems where reds got collected for later stadium isn't fair in my opinion.

which site you have used ? If the site have provably fair, don't have option to manipulate result, personally i have lost 4 consecutive bet to 97% possibility of win  ;D

I always bet big early and run as soon as I won some.

It seems those sites always rope you in and then you go on a crazy losing streak

If the bets are provably fair, then it's definitely just a coincidence. However if there are accusations site being rigged, it might be rigged after all.

I played in PrimeDice  win change 85% I have 6 red line, initially runs smoothly up to 48 hours from 25k sat to 300k win sat but I ended up losing
nobody is really safe in gambling

https://i.imgur.com/fEgqnRc.jpg

true randomness has not memory to worry about historic results BUT

after a long winning or losing session you will end getting an opposite streak
because fair distrubution will eventually turn by true random nature.

scams may exist but long sessions on fair random games can result like this
posible to happen good or bad will turn to almost always if session is long enough

*a little edit*
dice game is very fast in most sites so the chances of really rare things (in a row wins/losses)
is almost certain if you play for hours to see them all very fast /
slow games like real life roulette you may see the same but 10k spins is like 24/7 for some months
compare it with a 10k dice spins you may do in couple of hours and you will get the meaning.

i hope my post helps a bit.

Its hard to reign yourself in when you have been winning for a bit. Find I can quickly go negative if I chase to much and find it hard to follow what I just stated. Works on the brain but I do see a full page of loses suddenly that seem to make the house all the money back.

Your post does not help because it is completely wrong.

It doesn't get back to a fair distribution by definitely having an opposite streak to get back to normal, it gets back to "fair" over time by doing more and more trials that happen at the correct frequency.

As to the OP. You are going to lose when you make bets with a negative expected value. Period.

On most dice sites you expect to lose 1% of every bet you make, if you keep betting, eventually you will lose it all, because that's what happens when you don't walk away with profits if you get them.

Due to house edge no one knows when the continuous losing streak will hit us so whenever you make some profits try to withdraw your investments first and continue playing with your profits. In that case you may not lose your money and in dice game play longer time is not good. So after winning some money try to go out and come back next day instead playing until you lose all your money.

I think it's only happen on gambling sites who have provably fair like dice, even you bet on 98% chance to win, you can get lose fast. that's why i never bet on dice sites.

As you play for an elongated time, you run a higher risk of ruin (https://en.wikipedia.org/wiki/Risk_of_ruin). Alright, now to understand, you need to think about the amount of TIMES that you choose to bet. If you continue to bet over and over again, there's a high chance that the house edge will catch up to you, and you'll hit a losing streak and then go bankrupt. That's kind of why the martingale system is guaranteed to fail statistically. Obviously, over a short period of time, you have a lower chance of losing everything, but realize that eventually your luck will dry out and you'll lose.

The % win rate does not matter. If you have a 90% chance of winning, you could STILL statistically lose 30 times in a row. It's unlikely, but the more you bet, the more OVERALL chance you have of getting a losing streak.

Lets think logically. Surely people dont build a casino to make other people become rich right? Well if you dont want to lose, you should learn how to stop gambling in right time, and play again if you see the chance.

I think that was a mistake on the strategy used. Our site gambling had been a fair game system won't be doing the cheating in the gameplay, because they prefer the trust than a scam. The strategy you mentioned that are already widely used by professional gamblers, it's just time/atmosphere that will use less proper to do the strategy. Because the strategy has a level of complexity that is high enough to grab the victory. I've been several times using these strategies and I dapatkaan alot more defeats than victories.

It's probably just a coincidence. Provably fair casinos are supposedly, well, fair.

Good idea Man but sometimes I was hooked when winning making it difficult to bring profits go too quick to think that I've found a way to win whereas in the end I lost bitcoin  :D I'm sure you also feel the same  :D

Sooner or later everyone ends up losing, therefore it is suggested to get out whilst you're ahead. Don't try to win all in one day, money control is essential part of gambling.

i sometimes have the same feeling about this kind of situation, that the site is doing some shenanigans in the back that causes me to lose after i had a winning streak and accumulated a small amount.

but the fact is (if the site is provably fair) it is just our luck that runs out and we end up losing what we have won in the past winnings.

if it has got a lot don't continue the game, enough for today you can try again tomorrow.
if you want to get a lot of force, trust your money will run all.

Yeah that feeling is so bad ;D
We think that today is our lucky day just because we win few bucks and bet all of what we have, then its disappear :D
But now I always make a limit for my self when do gambling, so I know when I will stop. Not always effective, but atleast I dont lose everything 8)

This is the correct way of gambling, go in limit everyday whether lose or win, just come out after your limit is crossed, i was also loosing a lot but after that i just realized what mistake i have done and now i have covered all my loss and i am in small profit but happy now.

Try to run auto bets in two different computer .
Set computer 1 on :
Win chance to 90%

And set computer 2 on :
Win chance to 10%

Run bets together at a time.
See what will happened, you will feel rigged by the provably fair system.
Basically there will be a "losing phase" it could make a streak lost up to dozens times and there is "gain phase" , in this phase is the right time to stop and cashout all your money. So you will never experience that "losing whenever you're gaining".

that is just what gambling is like. you sometimes win and sometimes lose.

you have to remember that there is never any guarantee that you can win your next bet. doesn't matter if you set the win chance to 1% or 99% there is always the chance of losing. in other words since there is never 0 chance of losing, you will have a red roll. so the only thing left to do is not plan on these things and especially on martingale, just stop using that method and bet for fun while testing your luck

Well i started betting with 0.0005 btc and make it grow to 0.01btc then i bet half with 95% and lose then bet again 5 times and loses at 95% five times .. Btw the site is Primedice

What do you expect mate? With dice rolling there is no bet 'memory' at all every roll is completely independent from the previous one. You could lose on 90% win probability 5-10-15 times in a roll and you don't know when it stops because it's just random numbers every time. Just put 5 identical red and black balls in a dark bag and try to pull only the red ones 5 times in a roll and see what happens.

Let's see it the other way around:
You manage to win up to 0.01 from just 0.0005 btc. Did you notice that? That you won so many consecutive times to get to that amount and yet you notice when you lost by betting half of your winnings?
So, what went wrong here? It's not the site per se but its the rule of probability that makes this happen. Anyway, you know that Primedice is provably fair, ayt?

same happens for me, it could be sites foult, not letting us win a lot of money, or it also could be our horrible luck, but  i really think that it's because of sites

gambling is not always about winning.
but if you think logically, most of what happens is capital is wasted and the result is so so. even some people get a minus. this just how it works.

Most people are too tempted to keep gambling with the newly won amount of Bitcoins, instead of taking the profit, and if you really want to continue gambling, keep gambling small quantities, but most people will be too tempted to do an "all or nothing" moment with freshly won money because they feel as if that isn't really their money.

Winning makes you continue to play more, the urge is there and the feeling of greed will always be present whenever you gamble

wow, 6 times above 85 that is so unlucky.

i have had some bad luck myself but i don't think i have had anything like this one on such a high chance of winning multiplier.

With provably fair system in play you don't have to worry about you being scammed most of the time. It is just another gambler's fallacy that they mainly notice big loses.
I know losing against low odds feels weird and sometimes can make you angry but that is game of chances and weird shit can happen.

Definitely check to make sure the provably fair is actually done properly and not a lie, but they don't have to cheat you to win when the odds are in their favor.

If we flip a coin and every time it's heads you give me one dollar and every time it's tails I give you 99 cents, if we keep playing I will get all of your money eventually.

The problem with bitcoin dice sites (and actually all online gambling when you think about it) is that it takes a lot less time to play a game online than in real life, so "eventually" happens a lot faster, especially when you tell a bot to bet over and over again.

Yes this is right even i faced this problem when i started Gambling beginning if i won my bet i started to increase my betting amount for my next bet like this happen but if i loose suddenly then also i was thinking about my profit only until i loose huge amount after that i realise i want get back my loosing money 1st later will think about profit so now i am playing safely if i loose the bet i will stop there itself will continue next day.

i have see your stat, very bad but id only no lucky. i think primedice is the most secure/fair dice site in all bitcoin gambling. unfortunatly, evry round is different, can exit already the same number

If you happen to just play on one of the lest known and trusted gambling websites, then the chances are something fishy is going on their back-end but if your using one of the trusted sites, then it's on pure luck mostly (since the owners wouldn't put their reputation in danger because people will complaint right away and get bad attention towards them).

I don't know, I would like to think that is perfectly normal, and it happens. You do have provably fair, so if you trust that, I think you must just accept that it's normal and it happens.

i had been lose 6 times in a row during playing dice and i think it is not a coincidence and might be those sites who makes such that because some owners of gambling sites would not willingly if any players could win a lot especially if someone else win with many times

I think it isn't a coincidence, it's just our minds. As the stakes get higher, we become more nervous and a loss will affect us harder. Also, most casinos have something called a house edge (http://knowyourodds.net.au/house-edge/), which means you will eventually lose in the long run.

Yes, true. Because of house edge, if anyone play dice game for longer than mostly they will end up losing all there money. Total win and loss may be same but you will get more continuous loses than wins and that's why at the end most of the people will lose money in dice game.

As my experience i never win in dice game and some card games in any gambling sites im always started to small amount before i move to big bets..
Sometimes i got 5x maximum winning but still losing it because i'm not satisfied with my winning amount..we are greedy and we are not satisfied even you won big amount so it turns to lose..i also experience that even i change the winning chance in to 90% or more i can still get 5 streak or more lose..
We can't control it gambling is gambling and house is always win we cannot change it..

That's so true. I mostly bet on 98% odds and have a confidence I will win this time but I've many a times ended up losing. While when I bet on 30-40% odds, I end up winning. It's just the algorithm used by a site that decides the result and no website knows what we'll bet and decide the outcome.

It is not usual case for me. I think you are playing in gambling site which is riged rather than being fair. I suggest you to try blockchain based games which have proof for every roll.

As many people said before, if the site "provably fair" then they do not have the ability to manipulate the outcomes of a roll. So I'd say it's all about being lucky... or not :).

I dont fall in that trap, because whenever I see that I have got to a certain amount, I cahout them all and get saved. Otherwise if I keep playing I would loose all.

Bankroll management is always key.

Anyways this is just simple gamblers fallacy, nothing rigged about it.

I haven't seen this happening in my case. I bet mostly on sports and it totally depends on which team I have bet on and not only the gambling website. Even with other games like poker and dice, it's again luck based games and we always have a chance of winning whether or not the probability is high/low.

You lose always more money than you win money. And that is very bad of gambling. But you must realize that gambling is very bad.
I hope later that more people will realize that gambling is very bad to do. So please dont gamble that much.

Well depends on what site you play on but as long as the site is provably fair you can be almost sure that you are not being scammed. The thing is that in order to reach those "big" amounts you first play and the longer you play the bigger the chance that the house edge will catch up to you. The big amounts also seem more unfair because most players are used to playing small amounts and the few big ones they make are the ones they remember. Having 5 losses in a row on 90% when playing with a few satoshis does not feel the same than doing it with a few btc.

Losing whenever you're gaining would mean gambling for me. This is for every game you play, you may encounter the part where you are happy for winning but then not all luck does last after that you wont even realize when you became addicted and started losing you have nothing left. Play smart and as per them just for fun..

Yes it is you are right but it also that if you get addicted you will most likely lose a lot at the end of the journey because you indeed will not realize what is happening you just want to gamble with your money.

I think what you are saying is a good point because you just have to play for fun not for profit.

Yes it happens with me also, I was winning some 7 bets with 90% chance and suddenly I start getting reds, well what else, I could not survive the red attack and surrendered :P . But anyways it was fun to play with 90%.

Woah looks like you're senses are good cause sometimes when i got the certain amount that i think is high from where i started betting i usually sense it too but mostly i always fell for trap whenever i bet max at a high winning rate but then ended up being broke :(

I never felt like this because i use to bet only small amounts so we cant judge which bet we will win so its depend on our luck if i won the bet means i usely start to bet another there i will loose my bet but i did't count till today how much i gained and how much i loose my expectation is i loose money here i am not in profit but i will do betting for my fun that's it so the word you said loosing whenever you gaining is this TRUE.

It depends on your approach towards playing as well. If you are playing non stop -continuously then at the end you will loose the money, you should know when to make exit - when to stop playing.

damn! that's too unfortunate of you getting 5 losing streaks in 90-95% chance of winning. i bet you lost a lot on that streak. anyways i think its just a coincidence and you are just being extremely unlucky, i feel sorry for you. i guess i am fortunate enough to not experience such tragedy ;D

Well it's the nature of the game. The moment you gamble you know you win or lose. Even with small bets.
Next time try to stop earlier this way you can look back with a smile ;)