Bitcoin Forum

For whatever form of gambling you partake in, do significant changes in price of Bitcoin up or down affect your bet-sizing or how you manage your bankroll?

When this NFL/NCAAF season started in September, my starting sportsbetting bankroll was 1BTC and my standard bets were 1%, 2% and 3% of my starting roll. A 1% bet was worth ~$5-$6* US back then. Now a 1% bet is worth essentially double that and it looks like it may continue to climb even higher.

Should the price of bitcoin matter when it comes to bet-sizing and managing your bankroll?


*edited for bad math. ::)

of course i am change my bet size in bitcoin price and i change for another small amount because i am prefer with small amount. if before the price is rise, i see that 0.001 btc is really big bet for me, then for now, i see 0.001 btc is not a big bet because 0.001 is somewhere in $1 and i am fine if i am loss in that amount.

Of course I will, because the bitcoin price rise every day, and I have not big amount to play, when bitcoin was cheaper my bet in dice was 0.001 too, but now 0.001 is high for me, I will try smaller bets)

I decrease my stake when bitcoin has so huge and incredible pump. Now my stake per bet is 0.001 btc.

i change my bet size, now bitcoin price rise I sell most of my bitcoin. for now I am more frugality in the gamble as the price of bitcoin

For me it depends in what and how you count your bankroll as. If you still count it in US dollars then you have to change your bet sizes. If you only consider your losses and wins in bitcoins and how much that percentage is relative to your bankroll then there is no need to change.

I do. Because when I bet, I try to calculate how much I am betting in dollars. Since bitcoin is ultimately tied to fiat currency the I value it accordingly. Hence when I bet I still limit my losses on how much I am able to risk in fiat currency. Especially now, the prices of bitcoins has jumped a big leap. Now any bet is already doubled from before.

If we convert to USD while we are gambling its a extra burden if we loose. since we are playing on BTC environment, i always treat BTC as BTC and never convert while playing,

Yes if we convert our BTC to fiat currency it's not possible to control our feelings when we lose our bets. But it will more happy if we win our bet. I think those who buy coins from real money and play gambling they will do this calculation. I will play with my extra money means I will not buy coins with my real money. I will earn coins from other work, and I will use to play gambling. so price increase and decrease will not effect on my play.

I think i have this traits of isolating bitcoin value from fiat conversion when betting or playing gambling games.  I stick to my amount in BTC when I am betting.  I don't know maybe I am just lazy to calculate and convert BTC to USD.  So yeah I play with the same amount of BTC regardless of the changes in price.

That's good so you will not spend your brain in calculating the conversion of what you have spent in gambling, instead we can use that to analyze our bet. Price have risen substantially but my that does not change my limit, it's still the same in the past, I just have to think I can win so I can cash out big.

I never do that when the price of bitcoin up or down because I never count and change the number of overly detailed. I usually gamble with a minimum amount and always to deposit some bitcoin to play gambling. So I feel no need to calculate and change significantly. Because the most important thing is I gamble did not spend all my bitcoin and still in my financial capabilities.

If your strategy is to use a % of your bankroll, than stick to it.

Sure the fiat value may be higher now, but you should consider yourself lucky that bitcoin essentially doubled your fiat roll for gambling, allowing bigger bets with potential higher returns.

I did try to change % bankrolls , bets and chances depending on my winnings of loses. Whatever the situation may take. I make it to a point to balance whatever the looses will occur or in the winnings. I stick only when I don't have enough time left that I roll it allthe over.

Ofcourse i will change my bet size. Btc now is more valuable than before. It makes me hesitant whenever i bet the size that used to bet before. Thats why i minimize my bet but the same value of my bet that i used to bet before. Im also have limited btc so its better to lose slowly than lose quickly.

I have given a pause to gambling, because recently when the price was around $970 lost 0.05 btc, which is quite high compared to the ongoing price increase. So with fear of loss holding the remaining 0.1 btc for other needs. This looks to be a good time to make profit through gambling if has good backing of bitcoin in the wallet.

Ho if we compare 0.05 BTC to USD it's a big loss, around 60$ you lost. Any way you stopped your play and took the right decision at the end. This is not a time to waste our bitcoins because the price is increasing like hell. You said you are holding 0.1 BTC for other needs. Right now the price of your savings around 120$ if you keep few more days I think it may cross 150$.

Yes I do change the amount that I bet when there is a price increase that is occurring. And that why when I bet small amount most of the time, it becomes smaller when there is price increase and I think that is a good thing for me because I can cut every mBTC that I have and manage to gamble it for so long.

Of course I do change it, Lets say  that my bet is .003 which is a small amount that is fine to lose . If bitcoins price  increases, This also applies for the value of my bet . That's why in this case I will lower the amount of my bet to the amount of its previous value .

To be honest, I don't feel like gambling if bitcoins price increases . That is why this is a great time to gamble since it keeps increasing, Sooner or later it will decrease so grab the chance .

Talking about heavy price rise like right now, yes i will try to decrease my bet size according to rise but for 10-20% rise in bitcoin price, i don't care much and keep playing.

I am thinking about halving my initial bet size if price stays above $1000 from now on.

I'll try not to decrease my bet size since I bet with relatively small amount. I prefer to decrease my target since btc price goes to the moon. My target normally at 0.02 BTC/day but today I lowered my target to 0.01 BTC/day. For sure, I wont hit my target everyday, sometime I lost my inital balance too!

Well i think that is also a thing to consider. It's different when you're betting on small priced amounts and high priced amounts. For example when btc's price was at 500, i wouldn't think a lot about betting in huge amounts but now, once i think of how much i'll lose and how i can use the money on other more important things, definitely i'll reconsider if i'll bet with the same amount as when the price of bitcoin is still low.

I mostly gamble with bitcoin i have at any time rather than depositing fiat from my pocket to buy bitcoin to gamble. So i don't care much about bitcoin price when gambling. I don't think many people care about price while gambling if they are playing in bitcoin based casino, but while playing with fiat i used to bet with same amount.

I can say that it affects me in a big way, I usually make my bets as bitcoin, and now I'm pushing more when I'm pushing more. As the price of bitcoin increased, it left a positive effect on me, but there is also a lot of wear on me as I lose it at the same time, so the bitcoin is now more valuable.

Yes, i do change my gambling activity due to the bitcoin pricing, for now i am stopping to gamble to more focus on trading, when the price is already stable and a bit low i will start to gamble again

A long time ago I lost 3 BTC when the price was 120$ a bitcoin. I was in my early days and I was not used to give much credit to BTC. Forget I would do the same bet today!
So to answer the question yes, price need to be adjusted: when I bet I think in terms of dollars, not bitcoin

I simply calculate my bet amount is $ even I betting with bitcoin if price is high than I put low amount on stake in these days. I don't have enough amount that's why I playing very carefully only on selective bet.

with significant rises, yeah as i also always said i will reduce the size of my bets but i have never thought about significant falls for years since bitcoin has always been rising and apart from corrections which are small, there has never been any fall.

i believe people will have same situation as you , to gamble use bitcoin but with dollar value. because the winning later will just converted to dollar and spend it in real world mostly not online on bitcoin merchants that limited.

and especially when the price skyrocketed like today, people will have a lot of regret.

Even bitcoins price would rise then it doesn't really give effect too much on how much you would bet depending on your bankroll because you will always basing the amount of bitcoins to be bet equivalent to the value of US dollar. Lets say 0.005 equivalent to $5 as of the current price of bitcoin of $956 but if bitcoin price would rise then the values would really change.

I usually go for smaller bets if the price is like this, I have no ambitions of suddenly becoming a high roller.
For gambling it can be quite bothersome when the price rises like this, some sites don't allow you to alter your bets on some games.

If i were to gamble by bitcoin's dollar value, yes the increase in price will matter to me and will be gambling with lower amount. but i don't gamble by bitcoin's dollar value, so it doesn't matter if price rise or falls down.