Bitcoin Forum

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

http://www.imgus.net/i/44e21b4792a972c0f9d3618fd9222095.jpg

Just goes to show that there are no perfect gambling strategies for winning, hope he could afford to loose it.

Ouch, really sad to see someone losing 3+ bitcoin while trying to win 0.1 BTC (assuming that was his base bet). He should have just done a 3 BTC bet on a 1.04 multiplier, as it is faster and safer. Hopefully he could afford the logs and just wanted to have some fun, but it easily could have been someone who was dumb enough to think it would actually work. At least he made Stunna happy.

just seeing the red text and big amount of bitcoin loosing make my heart pounds. i hope he knows what he is doing. who ever you are hohnsohn.


yeah im also hoping that he could afford losing that bunch of bitcoin, if were him, if want to have fun ill just spend those bitcoin with my friends and party.

another victim of martinfail strategy, that a huge amount he might be a rich person or a professional gambler
afford to lose that amount I guess he knows what his doing, I can't see myself losing that much in any gambling
game.

All in 3btc on 1.04 multiplier is also risky because he could lose in his first bet. Although his chance to lose is low but it is not safer bet imo, he was just in a bad luck to lose those 3+btc.

Another gambler bankrupted by martingale, why I am not surprised much?
People often tend to forget how with initial 0.01 BTC bet after couple loses you will be betting thousand of dollars.
From my experience martingale is a 'strategy' that seems to result in the most incidents of losing entire bankrolls of all betting progression systems.

Never try to play martingale, it will never give any profit to gambler, i ever used the technique several times but in the end i always lose all of my money
So i suggested  to stay away from martingale, you will never  win using martingale

this is terrible lose and that's why many people wouldn't recommend martingale strategy for playing dice because this is would make your money lost with faster and just forget martingale and similar strategy in gambling because these strategy wouldn't working well again to us

Oh that is another sad story which happened due to perfect winning strategy for gambling, i am quite sure when someone start playing with martingale than he think losing streak will never happen to him and that why he start taking big risk to just few cents and in the end lost all of his just in a seconds to the house edge.

i ever saw someone who lost 300 btc because martingale too, this strat really scary

Just goes to show how terrible it is to lose this way. Losing faster than you ever could, and not having the reaction time to stop it.

Martingale should only be done if your bankroll can sustain more than 15 losses in a row, at the minimum.

I agree but I think 15 is still low as a minimum. I'd say 20 as minimum and always set a target of the overall profit in order to stop, let's say half your bank or if you want to be riskier x2. You can't run it for long and the more you do so the higher the probability it will bite you in the ass.

That's so much to lose wow. I think you should have left the wager the same so of you pass the next roll you break even. This will give you about 3x more rolls. I understand you could miss a good roll but you can also win your money back and use of as a form of safety net.

Professional gamblers would not use martingale strategy, they tend to go for sportbetting or other games where you have the chance of beating the odds.

Mind reading the post again ? Loser is not OP himself but some random guy over the site.So the "you" you're referring to doesn't make sense here.

Also,that is a terrible strategy regardless of whatever it is.Well,please tell me the site he was rolling the dice at was provably fair because its certainly doesn't seem like that.I'm assuming the win chances would be 70:30 but its not plausible to see him losing straight in a row and I'm not even talking about the strategy he used here.

Only one thing i can say ,"it hurts to loose that big amount of btc"
How i wish that 3.8btc is nothing compare to him.

We don't know if 0.1 is the base bet. it could be even 0.0125 or less. I am guessing the image was taken from the highrollers tab and you know only bets/profit bigger than set would be shown there.




It is entirely possible to lose even 30 times a row. We are talking about 6 here :P

well no need to post more stories i guess we all know that nothing will work in the long run , but that doesn't make martingale bad cause in general when you decide to gamble on -EV games you already made a bad decision
martingale will only help you to reach you goal or bust faster
also the sample is small , if 0.1 BTC is his base bet then it's really normal thing to happen

If someone makes a large number of rolls, I am sure he will see many long streaks (both the green ones and the red ones). Without knowing how many rolls he has played, and overall how many bets he has won and lost, I don't think any conclusion can be made at all.

That is logical.Though I would definitely like to know the entire scenario here.Considering the chances for double payouts are usually 50:50 percent or more accurately 49:50 that behavior of the rolls seems strange to me.

I wonder how this assures provably fair when the chances of wins are 50:50.

If only BTC is easier to obtain for oneself, I would consider playing matingale for a low amount not for that big one see the outcome if he happened to won his 5th bet he can only win a profit of 0.10BTC

I can't gamble the same as that.. its a huge money for me if i gamble it.. better to trade if i have 3.8 btc.
Maybe those people have manny bitcoin they are old adopters of bitcoins..

It can be, most possible gambling software recognise large bet, therefore you loose. As far as I know, some gambling software recognise that, so if you place small bet, you win, if you place large bet, you loose.  ;)

Yeah martingale is scary as hell if you don't have sufficient money to face off 30+ reds in a row.

From the look of it, the bets are made on PD which is provably fair. No matter how big or small the bet is, the result is still determined by the same HMAC-sha512 algorithm listed on https://primedice.com/verify with the same client-server seed pair and nonce going up by 1 for each bet until the player choose to have a new seed pair.

it is real evidence, that there is no safe in the gambling game, although you have a lot of capital to do a martingale way, it really does not warrant.

I think his bet was too much, he should make the bet at least 1% of his total balance. So, if he bet 0.1BTC, then he must prepare 10 BTC as his balance. But I guess he will back to get his money back. Dont have any idea why people love to play dice.

losing in martingale is always hurtful and losing 3.8 bitcoin on top of that, he must have lost his mind after this loss.
this kind of loss in martingale is always more hurtful because you play all day long and win small amounts but when you hit the losing streak your losses grow so big and so fast that you lose all your money and all your winnings.

This is not a problem too much. but if I were in his position, I would probably do the same thing when using the martingale. but honestly, it was a bad day and was not lucky.

It's just math, of course there is no perfect gambling strategy.

yea,someone told me if he had 32 streak loses in a row on 49.95% chance after rolling a lot of bets.


yup, just gambling as fast as you can, dont gambling in a long run.

wow that is an unlucky guy to lose this much.
this really shows there is no good strategy in dice games that can help you win in these bets you make.
no matter what you do and how much you winning chance is, there will always be a chance that you see a losing streak and as the result of that lose all your bankroll even

this is why sometime i hate people that selling trick and then i know that is only martingale strategy , if people can use good strategy in dice game , make money will be easy for all people and some dice site will go bankrupt easily

The martingale strategy is the quickest way to lose all your money when gambling.  He should be doing the reverse.  The more and more he loses, his bets should be getting smaller and smaller.  And as he wins, bets should be getting bigger.  To become a consistent winner is to keep your losses small and your winners big.  Your losses will be more compared to your wins, but snce you're only losing small, your big wins will make up for them.

I lost over 30 grand with satoshidice. I damned blockchain.info for including it on the dashboard.. glad its removed now. :P

There are lots of those martingale losses around, and they are just tragic to be honest. They are people who still have no idea what mess they're getting themselves into... Even the highrollers do it these days.

3.5 BTC is still relatively small if you compare to someone like AKCoinminer who has the biggest losses.

Its a common thing when you using martingale for your bet, which you have prepared enough balance to cover it. If you will do the same, then you also will face the same result. Even though lucky is an absolute thing in gambling, you should know other ways to reduce its risk.

That would be more risky IMO. Your betting big amount in exchange for small amount. Would be better if he bet on a higher multiplier like 2.5x or 3x with big amount.

Martingale is not really safe for higher multiplier imo, it could make the risk become bigger and you will lost much more money. Also, with higher multiplier you have to prepare pretty high amount balance to cover it, or lowering your bet.

Actually, no matter what method you use, the probability is less than 50%. You will end up losing in the long run even if you change your multiplier. So it is always advice not to play with martingale cause you will end up losing very big.

Most people say that martingale strategy is the only way to have a winning. But i think it should be played with small amount of bitcoins. Its always risky no matter what plan you use. Sorry for the OP losing some great amount of the coins

Wow, RIP that guy. The thing with martingale is that it tempts you to go double or nothing, until you can't do it anymore. Sometimes you do the logical thing and stop when it's going out of control. Next bet, you hit a green.

And then you go full on retard. Bet max is probably the thing I do most.

Martingale doesn't really guarantee a 100% win for dice, Luck matters a lot in gambling :D

This actually happens all the time. I have seen people betting like 0.00000100 sats on martingale and they end up losing like 2-3 BTC because they hit huge losing streaks. Its very dangerous.

Luck? also MATH! Because it's so statically impossible win against the house :P

It is not very rare to have such losing streak with 50% winning change. When I use dust from faucet to roll dice at minimum bet, it would take less than 100 rolls to get a lose streak of 6 times. I don't have faith in using martingale anymore.

The saddest part is he lost it all trying to make a measly 0.10 . lost everything just to gain a small 2% or so. Silly.

too greedy start of 0.1BTC, and it seems he did not take into account the capital. perhaps it would be better if it started from 0.01BTC

With that amount of his bet and how much he lose, then I guess the problem is he took high multiplier, maybe over 2.0, so thats why he hit big losing streaks. Like I said before, martingale isnt suitable for bet on high multiplier and those who dont have enough balance to cover it.

martingale method is always a terrible method of gambling in dice games. there are a lot of ifs and buts in it when you want to win, which is why we will always end up losing in the end.

for example a big if in martingale is that if you have a very huge bankroll you can have chance of being sure you never lose which is also impossible.

Yeah that's the example why martigale is a useless strategy. People are warning gamblers about the martingale but every noob out there approaces to martingale like they invented it and nobody have never thought about it before.

Martingale is a poison.

Btw there are no strategies when it comes to dice games. No skills required= No strategies.

Over martingale is not poison and i think this methods works in other gamblers and also this method works in other game not only dice game can use this strategy.. we know its always depends in luck not in strategy but martingale works for me not in online gambling casiono but its working to me in color game..

No matter how much is the multiplier, martingale is still martingale that may give you such losing streaks. With that amount above, someone may lose 3btc in 26 losing streaks with 2x multiplier and 100% increase on lose.
The same if you choose lower multiplier, because when someone choose low multiplier and do martingale he will increase more than 100% on lose.
Overall, martingale is not suitable for any multipliers if you ask me.

Oh my, it's so pain looking that image. Martingale strategy and provably fair are worst, 50% chance to win y got losing streak 6 times. I'm so sorry to him, it must be very sucks.

That's only a 6 bet loss streak lol. You can run into twice amounts of that pretty often. Imagine a 12 loss streak. I've hit 20 or so multiple times before. Martingale is not your friend.

6 reds on x 2. Seems so ordinary, I had 20 and more in some cases on that bet. So I`m not surprised at all with this loss. And what is most funny here even if he won on his 6th bet, how much would he won? Nothing, so question is how much he risk and how much he can gain from that risk?
Dices are good game when you chase big payouts, x 2 is just a trick. I lost to many times like that on dices, cause of that I stopped playing dices and now from time to time I chase some big payouts with small amounts. If it comes it comes, if not who cares.
What else to say, people be careful when you play dices. And martingale is just one stupid strategy, better find something else.

Sorry I want to correct my post, 2x multiplier is still safe for martingale, I haven't seen many losing streaks over than 10 in a row, so with .000001BTC, if you lose 10times in a row, you still lost at least 1mBTC. Then I realized that guy who lost 2-3BTC made multiplier higher than 10.

He would have won about half of his overall losses back. Looks like another guy who became a victim to putting good money in after bad. RIP in pieces his bitcoin wallet.

I always say - don't play marginal! And this guy is perfect example of my words!
Gambling with 2500$ to get only 65$, and I am asking you is 65$ worth of losing all?

3+ BTC lose on playing dice with martingale strategy!!! Mr.hohnsohn had a big heart I guess. I just saw first time who lose this kind of big amount on dice game. Hope he can afford and come as a professional gambler. I tried to play dice with little amounts but at the end I lose all. I think there is nothing possible there, you will never win at the end. So keep you away from this kind of game.

There are alot people who lost when trying martingale strat. Better try find other strat which more safe than martingale

Martingale works, his bets were just too big for his bankroll. You need to have enough to take 10 losses at least before you win one.

You are half right.  He was betting far too big for his bank, so the inevitable big loss came quicker than should have been the case.

Even if he had bet small or had a massive bank, he would lose it all eventually. Martingale is just pushing the losses back, until eventually the odds catch up with you and you lose it all!

Well not even martingale can save you from that. When you are up you need to walk away and add to you bankroll so you can continue to see another day. But yeah, way too big bets for such a tiny bankroll.