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Granted winning is not guaranteed, but have lost to 12% since joining the house early January.

thats gambling mate, like they say you win some you lose some!!

And to think that Satoshidice's house isn't even small... Satoshidice is almost double the standard among active bitcoin dice games and it's weird how they survive in this very competitive market. It's not surprise that gamblers might be cautious but it's really interesting how a dice game with 1.9% house edge has it's house of the losing end for so long. Maybe some whales got lucky?

Precisely.

When the pool is big enough the bets should be evenly distributed that the house enjoys the edge. Statistically at 1.9% edge.

Will continue to observe the performance and update everyone.

This is the probable reason.  We all know that the pool of investment are being used as house bank roll.  If some big whales or majority of the players are winning, even if there is a huge house edge, they can not do anything at all but to pay this players and this will reflect on that pool.  Maybe OP need a little more time maybe the House will recover soon.

or you can use the following topic: https://bitcointalk.org/index.php?topic=1585408.0 it has multiple casinos and is reporting the performance of each of them every week. and it has SatoshiDice too

http://ultraimg.com/images/2017/01/22/VULw.jpg

and as you can see he stopped investing in SatoshiDice in the 10th week because it was a terrible investment.

You are very unlucky, 12% looks very suspicious, I doubt that there is a hack who found the exploit on satoshidice, or how can a gamblers win so much against the house? The house has 1% advantage, if you have 12% loss, it means that he has won 12% of the total house fund. But it won't last, the house always win eventually, have more patience and keep investing(if there is no bug on SD).

in gambling - you are prepared to suffer a fair amount of your money.
so no hard feelings if you lost.

but one thing for sure - there's no future in gambling! talking bout my perspective  :P

well, I think it is a small amount and you do not have to worry about it. If you are patient enough and know when is the right time to gamble, I bet that you can recover your money. Try to test other casinos and see how is everything

I think you are talking about investing in satoshidice's bankroll, investing in gambling sites bankroll is almost like gambling with little risk of loss. Best way for you now is to remain calm and don't divest your investment. Wait for few more days/weeks to see some +ve balance and you can divest/withdraw out if you are not satisfied with them.

I believe gambling sites risk around 10% of their bankroll to be won in single bets, so that swing isn't completely unimaginable. Since people do also win like double their bankroll like on Betkings, so a 12% towards a negative number isn't impossible.

May be that is just temporary but 12% is quite big loss may be some player become quite lucky and withdraws his winnings.

I have invested before in moneypot and i was only making 1-2% per day so to get out of this loss, you may have to wait for 2 to 3 weeks that is also only if no anyone wins big and get out.  ;D

May be you are wrong, on gambling the long run that you do the more lose that you can get because this is business involve so they dont want to lose money to players. Although if they lose, they will try to get it once because of house edge, only house edge that casino has to make the table turn

It can also be possible that your betting strategy is setting you up for bigger losses than the expected house edge.

Say you bet small at first, win some and lose some, but than tilt and decide to make a larger bet, which you may lose. If you lose it, you are suddenly much lower in your bankroll, while you still may have lost only the house edge when looking at the amount of bets.

12% loss is already a lot for me on just on this month but I would like to suggest to stay put and don't pull out your funds you will eventually cope up in next months but still not guaranteed that's why we should really be prepared on this kind of scenarios because it do really happens on investing on houses.Profits are not guaranteed anytime.

Get your money out before it is too late. That site has been borderline a scam site for months now.

Come to Yolodice then!

50BTC profit in a few days ;D

well its right if you can also try other casino and see your luck maybe you can also got some chances to recover but if you are not seeing any potential with this type of investment if you are just trying to gain some earnings better to switch over to other things that you are more familiar and you have some edge.

I hope its not your hard earned money that you lost. Perhaps as other mentioned, go try your luck on other casinos. You don't know you maybe the next big winner. I would also say thanks for sharing your post here, other don't have the courage to even admit how much they lost but you took it on stride mate.

Yes, the bet was on Satoshidice's bankroll aka the house. It's not a big bet but it's really "interesting" that the house is actually sustaining a 12% loss after a month, though I am imaging the loss is not the total average loss but the bets that my chip is participating as the house for over a month, but still...

gambling always have risk, in the long run, the house edge will win over the players, this is maths, so the best way is to quit gambling  :)

Thanks but you might want to check again, I am betting as the house and the advantage is 1.9%, factoring that mathematically I am almost 14% at losses.

That is very suspicious to me. We all know that gambling is a risk but there will be a calculation behind all the gambling so when it is 1.9%, how can you lose 12+%?
I think you should report that to the Admins.

Its only my opinion, and i hate this site. I never win there, with faucet, with deposit - only on satoshidice i have 30-40 lose streak after hit x6.. every time.

Statisticks works only with very big numbers. If you make hundreds  of millions of bets then you can expect to lose something around the house edge. Otherwise anything can happen. That's why some people are winning with gambling more than they "should" statistically, and some people are  losing more than they expect.

There is no guaranteed winning in any kinds of gambling and that is obvious at the start, even when you play with the house and not against at it.

People thinks that by siding with the house, they can scoop some winnings in the long run which is obviously majority of the people will think because house always win.

Im seeing two things here, gamblers are really lucky hitting big amounts of jackpot or the gambling site itself modified some things to make their investors not to profit in a long run. Well who knows.

I summed it up here: Satoshidice scam, 500+ Bitcoins defrauded and disappeared! (https://game-protect.com/satoshidice-scam/)

Investors have confirmed that you also invest in Satoshi Slot with a 3,5% house edge. But unkluckily, account Underdog01253 (user ID 2789717) (https://www.satoshidice.com/user/ed10cec930365a1af6db2225843f6e36) was created January 11, 2017, placed a bet of 0.25 BTC and won a x1215.92 multiplier to walk away with a whopping 303.73 BTC.

If you invest at a shady site, where account balances in the height of 100s of Bitcoins magically disappear, percentages in your favour do not play much a role!

Yes, I agree. But over a period of time and a hundred of millions of bets it should be at least near to what they are showing as house edge.!! I always hear more n more people who lost in this site than gain. So was feeling suspicious.  ::)

no one is guaranteed to winning gambling with easy but if you have lost 12%, then you may need to get rest for a moment and leave the sites and move into another sites and maybe in other sites, you will get your luck and could win the games. but since 12% is not big as other gamblers so i hope you are fine with that.

Thanks for this. I joined here to see if I can gain something good. By the way how much percentage does satoshidice is giving to investors?

I do not think investing in gambling sites bankroll has little risk.  It has the same risk as betting against the bankroll.  Though odds favor you this time, but still outcome is decided by luck the same as betting against the house.  If what you said is true then why there are Casino that has negative ROI for investors e.g. OP situation.

Any investment do really have risk on lossing money and investing on gambling house is no exception because seeing on the situation of OP hes already on negative which is also being experience for those people who invest money on that site not only him but all of them.Investing on house do really have risk and the main opponent here is those very lucky players.

I will give everyone an update a month later and see at where I stand at the bet.

If the losing continues I am highly suspicious that only the real house aka the owner is the one making money.

You need to check how the profit sharing is done for the investors because some casinos will have additional fees for the investors. You should be considering to diversify your investments into few other good casinos so that some one or two give you losses others will compensate in this kind of situations. In the longer run you will still make the profit because house is always going to win.

Indeed, better check them, but I guess SD is just having a bad days.  If it continues you can try other Casino site investment offer.


You can check the statistics of the site.  I think their statistics is publish somewhere and you as investor should see it so that you can verify them yourselves.  If they really are losing then that is the reason why you have negative ROI.

It is not only in gambling you lose the more your gamble but also in forest, margin and leverage trading. The only way to succeed in gambling, betting, forex and margin and leverage is through good money management: Because what ever involved high risk involved coition, you also need to develop your skills and emotional control. Remember that gambling is not for everyone you should find out the risk involved before venture into it.

I think it's something natural thing when playing gambling you must also be ready to accept defeat not everyone is fortunate to get a win, hopefully the luck be with you at a later date at least try other gambling sites to add your thoughts

You have very bad luck on this site actually, I don't play thia site because I heard this site is bought with 100k BTC, the new owner is too stupid to afford this amount. They will scam, otherwise they can't get the investment back.

Well, if casinos would always win, nobody would play there at all. That s why it s called gambling.

Well there are no guaranteed winnings in gambling. That's part of the "addiction" to it. You try to control something that is uncertain.
I would recommend you to try sports betting instead. It's not guaranteed money as well, but you depend on your skill and analysis, so your odds chances of getting profit are better.

A good place to start would be our Tipster Championship, since we offer prizes on top of your normal betting wins, so it's an added value to your bets.
And if you fulfill the requirements you do get a guaranteed prize of 100mBTC.

Check our full prizes, and conditions in the link bellow, and register with us. I think you will enjoy it:
https://bitcointalk.org/index.php?topic=1248467.0

There is really no guaranteed profit over gambling and even if the style of playing is very easy it is not really easy winning it cause it has a risk even if the house edge is 12% there is still a risk to take over playing it, and I think even if they say that the house edge would just be 1% are you really sure it is 1%? they would still want to profit on their site and we could never really know the real percentage of a gambling sites house edge if we would not personally try it out.

the house edge can not be 12% because it means nobody will ever play at that casino!
the 12% OP is talking about is the amount he has lost in that dice site. and that place is a bit strange to me, i don't see any wrong doing in it but they have a big house edge (which is bigger than the regular 1%) so obviously players should lose more but also the investors are losing money! how can these two happen at the same time?

You are right, but casino houses are always in the end, I mean they make profit in the long term, if they lose this tiem, they will win next time, and finally players bust all of the fund, 95% gambling story are like this, 90% gamblers are losers in the long term.

But with your quitting on gambling you might never know when will luck run to your since you never try it though. At least you put some of your money on gambling see whether you are pretty lucky or not. Although they have house edge does not mean that we can't win huge amount on particular site. Saw many of gambling site that has many winners out there. So why dont you try out some luck there? But remember to control it though

Well gambling site. Basically that's why. Maybe there were a lot of losers this month. Well, that's a lot of profits for the investors. Another way of thinking about it is maybe the new owners are rigging the game and they are making people lose their money. We'll never know until someone does create an investigation.

But it is gambling so it doesn't make any sense you may not lose

so let we invest with the house and we can gain profit with them. i think we do not want to get loss more so better to leave that casino and we can doing gambling in our spare time and makes gambling as entertainment.

You cant easily convince someone to quit or leave on that casino since it their own money and their hopes and decisions would remain. We should not panic at all when we are seeing negative profits on casinos bankroll because it would surely reverse back and make profits on longer runs.

Does anyone actually bother to read this thread. Its not about gambling losses, its about the sites bankroll losses and how all of a sudden a new user appears and wins big and everyone's bankroll profits go down the drain.

Then there are the other issues with the site itself which has a hot wallet that is always empty, support thats non-existent and a really bad server host that's down alot lately.

Oh, all this time I thought it was the other way around. Then that is indeed a problem. I believe satoshidice has been transferred to a new owner. They might be the cause of all this and there should be an investigation. The new owners might be trying to embezzle the money of the investors there.

I do agree that gambling houses will win in the longer run but sometimes if anyone wins very big amount then to recover that lost money as an investor may take very long time so it is good investors diversify your money into few good casinos than you can reduce your losses. Remember not to keep all your money on any one site or asset.

Yeah, probably someone lucky just hit the jackpot multiple times and just drained the house investment for some big chunk of money. Well, in the long run indeed the house will still win, it's just a matter of time. Though, if there has been cheating on the side of the website then someone should really look into it I believe they have a new owner.

Seems like they're not able to handle managing their investor's funds properly.
With a 1.9% house edge,(that's way higher than the normal .8 - 1%) the investors are still taking a hit.  ;D
Or it's just the usual bad luck? Even the house can suffer losses after all.  :P

@OP, I wonder, for how long exactly did that 12% loss take? Was it -12% for a month, a quarter, semi-annual, or what?
Also, what's their max bet?

You mean you invested? Or you played?
Cause if you played that's fucking normal xD

And if you invested... Well give it some time. The bank always wins in the end

That is part of risk on gambling game losing money
you should be ready for lost money before play gambling
will makes relax if you are lost money in gambling game
just remember gambling are depend on your lucky.

I think he invested.
Nobody would be dumb enough to complain when they're losing at a casino right?
Right?
So 12% of loss after investing, I understand he's a bit pissed off ^^'

And I am not also saying the house edge on Satoshidice in 12%, I said "IF" the house edge is 12% even if you say that 12% would be to high to be the house edge that nobody would ever want to play in a casino again, I think gambling sites would really not want to give out the exact percentage of it, and I think even if gambling would have a 1% house edge, it is still risky gambling is still gambling winning in it is not a mere walk in the park.

It's sad to know that this happened. Some individuals take advantage of the fact that there is no regulation in crypto and try to create these types of services to get money from people with no experience, this is a problem because it keeps many people away from crypto. The best that can be done is for these people to study any website thoroughly before putting money into it.

Maybe you are right, unfortunately gambling is game it is not investment
except you have website gambling and taking profit from there.
Many people play gambling to looking for profit
unfortunately they are losing money in gambling.

Please tell me you pulled out your money!

That's life and you are in investment which is vulnerable in losing but still this year is still long enough to recover with that 12% loss.

Even that is "only" for others but for the investors who are really looking for profit with even small percentage, this has an impact.

But I know you can make it mate and will recover, if there's a fall, there's a rise.

Yeah i suppose that you will say that casino will win in the end but they usually do this trick, they will lose for sure in first place so this will attract many people to join on their site and after that they will eat you up slowly. You can't complain this because of their provably fair system. House edge will always consume all of your money. Although it means that 1% is little but in the end they always win some cash because this is business

if what you are saying is true about them fake losing and then winning to take your money, then it means that casino is not fair and sooner or later they will be caught and their business will crash to the ground and burn.
but i doubt any of them are like this because of the provably fair system they have and the easy way of finding that out. and besides as long as there is a house edge there is no need to cheat.

No matter how you cheat you cant really beat up the house or the gambling site itself. I think on most reputable websites i cant say that they are using non provably fair method  and as you said they will surely destroy their reputation once this situation would be discovered. As long theres a house edge they will always win no matter what.

That is correct. All reputed sites know how to make money from gambling business without cheating players. Because all these games need the luck to win money from gambling sites and all these sites know that at the end most of the players going to lose, so these reputed sites spend a lot of money to attract more and more people to play on their site instead cheating players.

Well I don't know if you are following up on the main Satoshidice thread but that gambler who was complaining for months about losing his 77 BTC he finally got it back because he replied on the thread. So its seems like the admins might be finally getting their act together and hopefully this issue gets resolved.

Well,there might be unexpected technical errors do really occur because not all gambling sites are perfect.Problems will surely arise no matter what and i didnt follow up the main thread of satoshi dice if that is the case then its really good that management of satoshidice do fixed that problem.

Do you guys remember one bitcoin dice owner cheated on the house in 2014? The domain was bitcoindi.ce or similar domain, I can't remember it clearly. Maybe this site is using this trick too, that is why you lost 12%.

Well Maybe? we can really never tell if a gambling site is cheating on us or not because we can not see it and never will know if they are trying to do something with our bets, I think people will be people and a lot of controversies is still underway and never gonna be known if no one would truly be true to himself or gonna be discover by a mere gambler.

I cant understand this hole conversation.
If You have make 12% Profit at the Same time you would be happy that someone else lost there Money!
I remember the guy on betking that lost 1000btc. All Investors was more than happy and say what a creat Investment 20% Profit and so on! But what was with the guy they lost this amount? Yehh "Must Be Rich" bla bla bla. You Know it?!?! Maybe it was all his Money. Is he still alive?!? This only as example!

If you take a look here
https://dicesites.com/satoshidice
You will see they make since Last year nearly 1500btc Investor Profit but goes ~500btc down now. Still 1000 BTC Investorprofit in 1 year!


Now somethink to the Lucky guy "Underdog01253" this guy Is betting nearly max on Slot the hole day and of course if he hit he will get big payout!
There Are other players there they do the same but with less bigger bets and hit a good Multi to!

Now dont cry and take it like a man and see what will Happen the next few months.

So what is your point exactly ?

You lost and ? You lucky its only 12% and not everything. You just having bad luck.
Besides noone forces you to play there. Come play at yolodice and see if you prefer it there.

Hey guys, an update to the original post.

I've managed to reduce the losses to about 4.4% now since joining a month ago.

Will keep people interested posted.

Nice to see this new update related onto your investment and you did a good decision that you didnt pull-out your money and you waited for a little bit more but see it does really worth and that will surely happen because gambling house do always win it may give you negative results for sometime but in longer runs profits will come.

Thanks man.

Hopefully I and perhaps others can learn from the sharing.

They will surely see this thing pal on what you have shared patience is really a virtue indeed as mentioned above you are lucky that you did not get your investment when you already saw negative or losing amounts.Probably you followed all the suggestion been posted here on which you just need to wait.

That is interesting especially with a 1.9% house edge where seems to be the standard house edge is 1%. Hope you can recover and get your money back quickly or cut your losses and get out.

that is a good attitude for a gambler to read some good suggestions and learning from it but you should remember also that learning from people's feedback and suggested strat cannot help you always remember that we had what we called bad luck and sometimes it occur to us and we should learned to manage and stop when that time occur so that we can truly minimize our losses and our bankroll will not get hurt so much.

What is the latest news?

Did you break even or get your money out of Satoshi Dice?

Much better places to be invested in Bitcoin gambling bankrolls...

SatoshiDice meanwhile confirmed the reduction of the 303 BTC Slot win from Dice investor balances. This caused your overall loss, while SatoshiDice claim backers were also affected positively overall! So they "forgot" you... :D

 

Less info and i think much better to share what method you are doing and how many days you are in satoshidice you are still lucky honestly if you are just lose a 12% such a small amount if your capital is small. why don't you try to bet in high so that you can see the fast result of your experience oin satoshi dice. or you are using martingale method that is why it takes long time to reach 12%.

Are you giving assurance for his investments? If he doesn't get that much profit are you ready to pay him back?

Don't simply tell people wrong information because some people who don't know how these investment works may invest so provide more details like why and how he can make so much profit in few days? Casino investments are very high-risk investments and no guaranty on making a profit in the short term.

Sometimes you just have some bad luck, however the amount of days is not important when it comes to gambling is the amount of hours and dice games you have played, if you have played a lot then I'm not surprised by your losses, in fact your loses are small since there are many that have lost their entire bankrolls in less time than that.

If you are on gambling. Accept the fact that most of the time you will loose. But, if the luck is on you. You can win huge amount in just a matter of time. Also, it is also a matter of timing, maybe when you played the bankroll isn't on your side that's why you suffer a loss. Try changing the time of your play hours and find the time when you are winning a lot. Then stick to that time and see if there is an improvement with your gameplay.

Some good stats but honestly there is no guarantee that op will keeping winning because the house is going to win at the end of your campaign that i guarantee unless you can stop gambling now!

By the way share your strategy with us  ::)

You can make your own strategy since gambling is not always depends in strategy its always depends in your luck. but you have a good point that better to withdraw it before your winning profit become exhausted.. just to game the profit than losing it all or losing the opportunity to make profit..

But a gambler addicted to these games then even though he/she withdraw funds for the movement, soon or later they will come back to gambling with that amount. As we all know that the more we gamble then the losing chances are very high. So if one is gambling once in awhile then it may help but regular gamblers it won't help much.

this is true even gamblers win a huge amount of money they will still prone to lose it back since they will keep playing thinking that from day to  day they can repeat their winnings making them suffer and become more addicted, just be very careful and always play with the money you can afford to lose and stop chasing loses just find time to enjoy.

And Those gambler who won huge are just in lucky state in their life but if you total theirs losses well we can be dissapointed for the result of it but hte reality in this point is theirs no people can make gambling as profitable source of money for their self's and for the name gambling we can able to lose what we have and the only thing we can do for it is to minimize and control our temper so that huge losses will not occur to us.

no doubt that your loss is not much because I already lost about 1 to $2,000 so here you should take lesson from the gambling that gambling is bad and not a perfect way of Earning .
Gambling is a addiction that is a bad thing then any drugs so here I will suggest you to leave gambling and if your mind says that you want made gambling game fun then of course you should do but in control amount and do not enter in the gambling in the professional way because it's gambling is a way of loss if you have the lot of money then you will lose all of your money if you will play in the madness way so I will suggest you to control your gambling work because your loose is still 12% and will change into  hundred percent

A strategy that relies on luck in order to be successful is not really a strategy which means that most of the strategies people have in gambling are useless since they have no way to control their luck, strategies like using martingale is just asking for trouble when playing against the house.

He invested in Satoshidice! He did not gamble.

In dice game honestly there is no strategy that can be work its always depends in our luck. but if you go in sports betting you still need skills to know what the team who will win same as poker game..
Well before i was addicted in dice game because of the fast result and the strategy that i was read many times here in forum but only sometimes can make a good profit but because of greediness i lose it all. so i think greediness is one of the reason why we are losing instead of making profit,,

well if you didn't lose atleast 12% of the time when gambling id call you a hacker. the same applies for the house... if they didn't lose atleast 12% of the time they would have no depositors. your odds of when will almost always be below 50-50 at best. don't spend a dime you aren't expecting to lose on gambling yo. Anyone who tells you otherwise is a scammer and you should defintely not trust them. in US state of georgia if you purchase a $25 lottery ticket you can expect in order to win a free ticket valued at $25 roughly 17 other people are going win $0.00 after buying that same $25 ticket across georgia.

I would partly yes about your opinion on dice game skills and sportsbetting. For me i prefer on those games like poker or sportsbetting that invlolves skills its because i could also feel that its not unfair for me and i could study the backgrounds of the team where i will put my wager. Most gamblers also suffers that kind of disease that is so called greediness disease which allows them to lose instead of win. ;D ;D

What do you mean by make own strategy? And is there any strategy that really works on this kind of games? Dice game which has depends on your luck and you are applying any strategy to this. I believe that it will not work because there is house edge which prevent us for winning in long term. Strategy is just flawless thing in any gambling site, because all of gambling games is dependa on luck except poker games which has use little bit skills plays

Yup! just like you I don't really think that gambling really need some kind of strategy in playing it, because it is all on your luck and a never giving up attitude, if you are not afraid in losing so much money, but if you are afraid in losing so much with gambling then do not play at all, I think the only strategy you can do with gambling is the when you can probably stop in a game, deciding the possible outcome of it and stopping you game at the right time can simply lessen you losses and your lost money,