Bitcoin Forum

If i had 1 BTC and wanted to get a profit of another BTC to have 2 bitcoins in total what would be the best way playing dice to do it?

You could just bet the whole bitcoin on 49%-50% ( depends on the house edge) and win or lose
Or you could use different strategies, now the thing is if my goal is 1 bitcoin isnt it better to just bet it on 50% rather than using martingale or any other strategy that would take a lot of time and if i understand correctly wont make me have more than 50% chance of winning

Every house has an edge, so expect to lose 1% of whatever you wager...

However you could look up the fibonacci method and play on 49% winchance

If you're good at sports and know teams very well you could also bet on sports...

Me being a gamer, I would bet on E-Sports Bets

in my opinion i would go 1 bitcoin all in on 50 percent chance because when i use strategies i always loose it, however its just my opinion

By far the best way of gambling 1 BTC is not doing it. Because of the house edge it's a negative sum game.

If you're asking just out of curiosity I'd say starting with a low bet, for example 0.05 at 50% chance. If you lose double your bet, if you win go back to 0.05.

What are some good Bitcoin gambling sites for sports bets? I think there was a site during the World Cup but I haven't seen it since.

Do as few bets as you can, it will increase the chance of profiting.

Thats martingale and statisticly is not better than betting all on 50% AND there are casinos with 0 house edge

I don't think it's possible at all having more than 50% chances to win with any method.

I insist the best method is not doing it

there are casinos with 0 house edge? never saw one maybe you can post an example would be interesting to try it out

this has been discussed before

here is the thread

https://bitcointalk.org/index.php?topic=939776.0

and this will be the best way to win 2 btc with 1 btc from the discussion of the thread

I think with any method the chances are always a little less than 50%.
So your math looks fine :D

Thanks for that, i didnt know about the thread

if you have 1 btc to invest then use this money in house edge invest and try the ods at 1.25 and play at 0.01 to start then increase amount if you can efford the bet amount then by this you can increase your balance

but bet till that you can efford

If I wanted to double my money dice surely wouldn't be the game of choice to do so.

If you want to have the most reliable way of gambling and not losing then don't gamble. If you want to do it for fun then martingale with one satoshi bets and a 1 btc bankroll and let it go until you want to stop.

it best to play on a real game maybe basketball. on directbet.

Or maybe playing basketball in the real life and forget about gambling at all. Just saying  8)
The house/casino always has a higher chance of winning, otherwise they wouldn't have the site/business open.

This. but if you want to bet, just do it for the fun. Not with money you can't lose.

Do you want to get the another 1BTC fast or not?
If you want it fast, just All in it the first bet with 50% chance, of course its a HIGH RISK.
but if you want it with several bets, u can use your own strategy and feeling. :)

The thing is that betting everything at 50% is not really high risk.

If you use martingal with base 1k satoshis, (with 16 loses in a row you cant double again)
So you would need to win 100.000 bets so you would have to bet about 200.000 bets in total, now lets calculate the chances of loosing 16 times in a row on 50%, they are 0.0015% wich is 1 in 40.000. So every 40.000 bets you would go into a 16 lose streak (most likely) but you would need to do 200.000 bets so the chances increase so yeah

The best one is Nitrogen Sports (https://nitrogensports.eu/r/270060). Has all sports, including ESports.

maybe stupid question, but what are esports?

Online games like League of Legends, dota2 counter strike

He's right. I bet on the LoL LCS that's based in EU and US, but Nitrogen also has DotA and CS:GO.

Hell you can even bet on Darts or Snooker. They've got a variety.

Can you explain to me how it is possible to decrease the house edge overall by using such a strategy?

Martingale is good if you have a big bankroll but I have lost at least half a bitcoin through martingale so has its ups and downs

I dont think martingale is good even if you have big bankroll is still the same, its slow and you risk a lot to win a little

or you just do 1 bet of 50% and deal with a lower payout, and pre-roll all the bad rolls for your lucky guess.

Because that works so great.

It's hard to double that big amount of bitcoins. I suggest you not gamble at all. If you have to however, I suggest betting on sports.

So you think doubling an amount of 1000 satoshis would be "easier"? I don't follow your logic.

Are you saying that L O L, and the others games are esports game? come on, that is not the right way to call thats games, maybe some gaymes where you move your hand with a move or something like that(tenis, boomerang, and the wii games)

Because in most casino games the edge is based on what you wager. This means your expect loss is purely based on what you wager (most dice sites, its 1% of wagered amount).  But they allow you to configure your payout, and offer the same house edge on all payouts, so you can easily take advantage of this by minimizing the amount you wager.

Dooglus and Blockage provide very advanced betting sequences to minimize this a huge amount, but you can reason about it much easier if you imagine a simple 2-bet sequence:

Bet 0.5 at 3x .... if you win, stop. You won the 1 BTC! Otherwise bet the other 0.5 at 4x.  Now you either lost your entire bitcoin, or won an entire bitcoin.  However, in some cases you only wagered 0.5 BTC (and stopped early), so the "average wagered" is much less than 1 BTC. In fact, it should be about 0.835 BTC. Which means instead of an expected loss of 0.01 BTC, it is now only 0.00835.

And that, children, is how we lower the house edge on a fixed edge game.  8)


As an interesting side note, Money Pot house edge works very differently and is far more fair to people who don't use advanced maths and bots to fragment their bets. (Where it's proportional to how much you are attempting to win, as opposed to how much you wager)

You can play dice on any well reputed site but divide your 1 bitcoin in at least 16 parts and start playing if red shows then each time multiply by 2X till next green . This method works for me and is best to make your money more. Best of luck buddy.

Chess is a sport and there are some other board games recognized as sports, LoL is called e-sport so i dont see what is the problem, they are not claiming to be a sport

when you do decide on something, feel free to post your update  :)

You would have to be really into it to bet on Esports. I guess it takes lots of studying the teams. Real sports too, just seems so much more natural.

Consider playing one of the no-rake micro-stakes poker tables on SwCPoker.  Fold a lot until you have a monster.

The best way might be to find a site that gives a bonus for first time deposits. It might be possible to have a slight advantage with the bonus. Of course it may take a while to clear the bonus and the chance at going broke is still there. But that is probably the best way to get a slight advantage. The alternative is probably to bet it all and taking a shot at it.

How is the bonus gonna help you? And bonuses normally need to wager it x10 or even more

I would make low risk bets of 1.1x with small amounts of 0.01 or 0.02 bitcoins

Are you making this thread because you actually have 1BTC and looking to profit it? I suggest you invest it on BTCjam if that is the case because gambling is too risky and you can lose the bitcoin in a matter of seconds.

If this is just a question, then I would still stick to investing it.  Do NOT gamble it.

Lol..true.. I dont think bonus helps..! People generally lose all their gambling money before the bonus money is released. In a long term situation bonus might help a bit but I dont see that happening often. It is just put to attract new customers.. as it sounds good.

I just might start a new thread in this section about Doubling yout BTC. Will probably do it in a few says if possible ;)

I have 1 BTC n I am going to gamble on sports. planing to double it up.! :)

wish me luck.

BTCjam is way riskier than people think. There are some statistics of the average returns and with defaults nearly all lenders are down.

There are ranks in BTCJam so I recommend trading with high level people. BTCJam are the only investment plans I know of.

Find the lowest house edge game and go to town

Otherwise play a game you enjoy so at least you have fun if you lose.

The problem with BTCJam is the non-enforecement.

There are plenty of gambling sites that let you invest into the house. Also Bitfinex has a swap program, so do other sites.

I am a all in kind of guy, so i would have to advise what i would do lol so that would be all in :): Basically a coin flip  on a respected dice site that way you have lowered the house edge to a one time percentage instead of multiple boring bets that add up over time. Did you get a bitcoin and do this? Always be careful gambling and only risk what you can afford to lose.

I prefer this way. You can win or lose money but at least you do not lose your time.

Most gamblers like the time spent on gambling. The rush when the adrenalin shoots in and they see their balance change in a blink of the eye.

you must apply the MM (Money Management) if you have 1 BTC at least you can get 10% of 1 BTC /day, that's better than you want get 2 or 3 btc in 1 day
that easy if you play dice with high % chance to win

Exactly. Gambling definitely is the worst thing to do to earn money. You should not do it if your target is winning.
The objective should be having fun and in this case martingale or other slow strategies would bit much better.

No it is not. That is just pure luck and in the long run you will always bust if you are playing against a house edge. Money manangement will only last your money longer.

I think it only helps if you are able to clear the bonus. But like I said the risk of going broke is there. It also helps if the game has a very low house edge and that you have a decent bankroll for the stakes you play. In other words it is not a sure fire win but it probably better than just playing the game straight on without a bonus. The games are a long term losing proposition.

The best Dice strategy is to play at Direct Dice (http://directbet.eu/Event.cshtml?EventID=777). Direct Dice is the most favorable to the players as it features No House Edge for frequent bettors.

Furthermore, while betting with no house edge you are freerolling on the 10 BTC jackpot which is on the house !

Please feel free to contact us if you have any questions.

All the Best,

Michelle

i will recommend you to play on 777coin the best gambling with  unique provably fair games,
hope you can easily double your amount there my experience with site is still profitable and i enjoy to play there it is like having fun in this way.

Most dice sites that offer a first deposit bonus have a worse house edge than the sites without one. So please calculate before you try to clear on of the boni.

but it depends on each person. I always apply a daily goal of around 5-10% of the bitcoin that I bring to the gambling sites
I play in coinroyale.com (isn't because my signature is coinroyale :P ) so far run smoothly and is easy to get my daily goal ..

i agree with you, i would suggest you to bet on sportsbook.
if you search refference for your bet, i think it would be great profit.
but you must have strong data for each team you'll bet.

It seems a good way, I usually play in dadice with 1.1X-2X, dadice is awesome and has new design.

 I can get faucet money when I lost all.

Guys, you can click my signature to register, welcome!

nahh dadice is great site, you can try there.
i've play there and enjoying the game, it was complete social dice site i think.

with 1 btc you can get 1 btc just if you play carefully.

Exchange to PayPal, cashout to bank, buy btc from bank using Coinbease. Ta-da, now you have 1.1 BTC! Do it 10 times

I suggest you not to play dice or similar games, but to bet on sports, on Directbet for example.
These kinds of bet require more skills and aren't merely based on luck.

Would you like to tell us how would you do that exactly?

Best gamble with 1 BTC is to buy an altcoin.  ;D

Why would that be a good idea? Altcoins are volatile and the stable ones follow the btc price most of the time