Bitcoin Forum

Hey everyone on bitcointalk. This is tjh11, and like many of you, I have lost a significant amount of BTC to the bitcoin casinos over the past year or so.

That's about to change. You see, in almost every single one of the sessions that I have played, whether it be roulette, blackjack, baccarat, or dice, I have been ahead at some point. I just haven't left when I was ahead.

I am making this thread to basically document my gambling journey.  I understand a lot of you say that because the house has the edge, no one will come out ahead.  However, you have to understand, if everyone who went into a casino left when they were up, they casinos would have gone out of business a long time ago.

Please don't show any hate, so if you don't have anything nice to say about this thread, please just don't comment at all.

I will be documenting every single gambling session I have, and I will try to limit my sessions to 1-per-day.

Right now my bankroll is at a little over 0.4 BTC.

Wish me luck!

UPDATE #1: Here is the address, so you can view all of my transactions:

https://blockchain.info/address/1Q247kQux52qBLBX4tVXFbX344RyevhmhB

Can I suggest buying or investing in a casino? I say this because no mater how you look at it the odds are you will lose. It is the most likely outcome for a gambler. If you had a cut of the casino's action then the odds are in your favor and you will most likely gain money.
I know it's not as fun as blackjack, but at the end of a day when you are counting your money you may be happier.

Best of luck!

Hey,
I appreciate your support and advice. Unfortunately, I'm in the US, so I can't run a casino. Playing casino games actually isn't that fun for me, its about making money for me. I figure if I treat it as a job, I can somehow win.

Thanks again!

I will take this opportunity to let you know that it is not happening and you may have small profit short term but you will get all excited like the majority and end up going skint.

Out of curiosity what is enough profit for you to walk away from the gambling site? The thing is  people always believe there is more to be won when they do actually have a winning session so as you said this is the reason they don't walk away.

Anyway good luck and I will keep an eye on you, maybe I am wrong and you start breaking casino banks  8)

Hey there,

Trust me, I have had a small profit in the short term plenty of times, and I always ended up getting excited and then going broke.

Enough profit for me to walk away is 1% of what I came in with. I figure if I don't get too greedy, I have a better chance of coming out ahead.

Keep your eye on me, we'll see how I do. Thanks!

https://777coin.com/jackpot.gif (https://777coin.com?ref=20547)

You can try your luck and journey at 777Coin, and we have a bunch of exciting games to choose from.
And 4 progressive jackpots, such as Maxi, Major, Minor, Mini.

Site: https://777coin.com

Main 777Coin thread: https://bitcointalk.org/index.php?topic=238323.0

Ways to Earn BTC

Promotions & Giveaways: https://bitcointalk.org/index.php?topic=254871.0

Signature Campaign: https://bitcointalk.org/index.php?topic=840124.0

you have an address or something to track your results? im curious how you will end up

How many bitcoins have you lost?

I talked about my gamble experience, I was really lucky in btc gambling, but unlucky in fiat gambling because I didn't research gambling and house edge before. I lost 230 euros in fiat casinos. 200 euros on williamhill, 30 euros on bet365.

After I learnt house edge and gamble basic strategy, I started to make money, I made 1-2 btc from blackjack, 10 btc from dice gamble. Why I can make money from them? Because they have very low house edge, I only play low house edge games, blackjack has 0.4% house edge(if you strictly follow blackjack basic strategy), dice has 1%. If i have good luck, i can defeat casinos because of low house edges. But I couldn't win money from slots because they have insane high house edges around 5%-15%.

Making money from casino is possible, conditions: 1. good luck 2. research the games(blackjack &video poker basic strategies)  3. avoid high house edges games. 4. play in reliable sites, it means the casino doesn't cheat on you. 5. make benefits from promos, like no deposit bonus, faucets.(once I made my 250sat faucet to 30k sat, just playing bj)

You can always invest in a casino and it is much more safer than playing in casino . I think there is no restriction for US player not to invest in a casino sites. The rule is that you cant run an illegal casino.  ::) ::)


1 % of your bankroll is 0.004 btc and you wont be satisfied with that because that is only like 1$, but if you can get 1$ everyday then I cant complain with that  ::) ::)

Well, they would make less but they certainly wouldn't be "out of business".  That just isn't how math works.

Also I don't think you understand that by stopping and then coming back the next day and playing again, you aren't "leaving".  You are just pausing.  It's still all one big session.  It seems like you think that somehow by leaving for a day you are going to change the odds or reset the math or something silly like that.  THAT is why casinos are in business, because people use faulty logic to justify punting away their money.

Listen, gambling is fun and if you can afford to lose whatever is in your bankroll, go for it.  But please don't delude yourself into thinking that you found some sort of magical trick that turns a bunch of -ev bets into a +ev situation.

Trust me, I don't think I've found some "magical trick".  I totally understand that I am playing a negative expected value game.  I also never said that I was leaving by stopping and then coming back the next day.

And yes, the casinos certainly would be completely out of business if everyone who walked through their doors walked away when they were up. That is almost every single person that goes in.

I'm not using faulty logic, I get that I'm playing a negative expectancy game.  Listen, if you don't have anything positive to say, I would really appreciate you not commenting on this thread.

Hey man, thanks for your advice!  I try to stay away from the dice sites though, because I know they're all rigged.

Thanks!

I'll set up an address for this now.

Here you go: https://blockchain.info/address/1Q247kQux52qBLBX4tVXFbX344RyevhmhB

I'm also going to update the original post with this address.

it seems to be a cool strategy i might try it out myself

It's not really a strategy, I'm just trying to win lol

Thanks!

It's not necessarily safer to invest. Look at all the dice sites that have run off with everyone's money, including investors' cash.

And yes, 1% of my bankroll is 0.004 BTC. I am only going to try and make 0.002 or less per day for the first couple of months, because I can't afford to get greedy.

You still didnt say how many bitcoins you lost so we can now when you are making profit because if you lost like 10 bitcoins and you win 1 bitcoin now you are still at -10 .

Other than that good luck, literally good luck.

well its kinda strategy as you said you will leave the casino with small profit

There is some dice sites which is safe to invest in and your 0.4 btc might get alot more than 1 % that you aim if you are investing in a dice sites or maybe lose a lot of it . Since you only aim for 0.002 btc, what will your strategy be? bet max at the max chance ? you can get 2 % with that method  ::) ::)

I don't have a specific strategy, I'll probably just flat bet, because all tbe dice sites let you win at first. However, if I can help it, I'll be staying away from the dice sites.

Alright everyone, so I just finished up a couple of quick roulette sessions at 777coin.com…great site, immediate withdrawals.

Thanks to lightlord for recommending 777Coin to me!

I ended up with a profit of 0.00195 BTC after Blockchain fees playing roulette today. I don't want to get greedy, so I'm just aiming for small wins.

Thanks to everyone who replied to this thread offering their support, we'll see how I do tomorrow.

Any other bitcoin casinos anyone recommends?

EDIT: Forgot to mention that I deposited 0.04 BTC into 777Coin.  From now on, however, the max amount I'll be depositing is around 0.01 BTC. That's going to be one of my rules.

I would estimate I've lost 5 or 6 BTC in the past year or so gambling with bitcoin.

Some of the old reputable sites would be quite safe to invest in, as they have more to gain by staying then by running.

Some old trusted sites to invest in would be:
Moneypot.com
Diggit.io
btcdemon.com
Dadice.com

These are just some sites, there are more. You probably wouldn't make money gambling, as the house usually wins in the end. Good luck with your journey!

Sorry to rain on your party - but that's not how gambling works in this case. A -EV means that in the long term you will expect to lose money (no matter what you do), it doesn't matter if you change casinos (it just changes your -EV if they have a different edge) but the more and more you play the more likely you are to approach the expected value. The only way to come out as a winner is to make a single massive win (ie. win the lottery) and never EVER play again. If you continue to play after getting ahead - eventually you'll expect to lose it back.

Hate to be a harbinger of bad news - but you will eventually show a loss unless you stop permanently while your ahead.

Hey, I appreciate your support. We'll see if I make money.

Thanks!

Some people never get ahead.
They have a long string of losses until they get no money.

Two or 3 times with such bad luck and you are gone.

Please don't take gambling as a job, or you might end up really bad

In terms of old and trusted, there are a few better options such as pocketrocketscasino.eu, bitdice.me and just-dice for CLAM.

What you said about casinos letting you win at first is not true most of the times because most of the casinos are fair so winning at first is just luck not that the casino wants you to. But there might be some casinos who use that trick to make people believe they can win, if you find one you can abuse it.

Hey,

I don't plan on making it a job, but I will treat it as a job because I will be disciplined and know when to walk away.

Thanks!

The vast majority of online casinos, including bitcoin casinos, are not fair in my opinion. I could be wrong, but my experience tells me that most will let new players win at first.

But the thing is that if that was the case, wich could very well be in some cases it could be abused, create a new account, win, withdraw, change ip, create new account and repeat until you get rich, im sure you see my point

But the point is if you have experience or not.
You can win from games like blackjack or poker,which requires many experiences and strategies
Don't expect to win from dice and hasard games

it doesnt matter what you play as it always depend on luck

Some games doesnt depends only on luck like poker and sportsbook which you can win if you have skills

Depends, poker vs other players doesnt depend only on luck nor does the sportsbook but to achieve the necessary skill to be able to make a profit in the long term is really really hard so not anyone will be able to do it

OP.I think that you should try to gamble only with the money you can afford to lose...Instead of gambling,you can by senior account here,and try some of the signature campaigns.But,it is your money,you decide what to do with it

Yes them games having skill takes you a long way but does not look like OP is going that route it looks like he is going for total luck based games and whether he wins 5 times in a row, he will come out losing in the end as anyone here who has time spent gambling will know. Will pop back now and again to see how you getting on though. Good luck!

I think that while the majority of online casinos let you win at first, I also think it depends on how the casino is doing at the time you make your deposit. So if someone just won half the casino's bankroll, then chances are the casino isn't going to let yout win at all. They need to get their money back. So I think one thing to look out for on dice sites is how their profit is doing.

I also think whether or not the online casinos let you win at first depends on how much you deposit.

You sure do think a lot of things that fly in the face of logic, facts, and fairness. 

This thread is so full of delusions its sad.

At any decent gambling forum OP would be instantly considered just a troll, but here, he is actually serious.

Here is a tip : forget that gambling exists, unless you are enjoying losing money and time.

I've heard it alot and this is what a gambler will say before he start profitting in a gambling sites. It is hard to block the temptation of getting more profit in a gambling sites. If you would be able to discplined this whole time then you wouldnt lose a single penny in the gambling sites but you lost quite a bit already

This is not a decent gambling forum is it lol this in case you have not noticed is a Bitcoin forum where newbies like to gamble so of course he will be taken serious by some. Why shouldn't he the majority have a signatures to bump to get some pennies :)

It is you who doesnt know what magicmexican is saying . He is saying that at any decent gambling forum and not bitcointalk, he knows the different . I bolded the part to make you understand that you are wrong . Do read clearly

You are the one that needs to read, he is referring to this being a gambling forum clearly but not a very good one or why would he need to even say it. Proved my point keep posting to get your pennies lol.

If you don't have anything positive to say, don't bother commenting on this thread.  If this is such a bad forum, then why are you on it? Go to one of the sites that I would be considered a troll. For everyone who wants to come on here and be annoying and anything but constructive, please do us all a favor and leave.

I would like everyone to keep their eye on me and this thread and see how I do.

Thanks!

I understand I lost a lot already. I wasn't disciplined then. This whole journey is about me being disciplined and making profit. Just keep your eye on me and see how I do.

Most bitcoin casinos, and online casinos are not fair. That's common knowledge.

Exactly. you should only considering doing it out of boredom. Don't gamble to pay your mortgage or as your day job. Only 0.01% or so of gamblers are sucessful and do it for a living and thats usually playing poker in real life, not online.

Thanks for voicing your opinion!

No thanks, I'm not a big lottery person, to be honest with you.

Alright everyone, so I had another profitable day on 777coin.com today. I deposited 0.01 BTC, and withdrew 0.0123 BTC…after fees, my profit was the same as yesterday, 0.00195 BTC.  That brings my total profit to 0.0039 BTC for this journey.

Thanks to everyone who has supported me so far!

Hats of to you for discipline not carrying on betting like a mad man! This is what I do and it always fails miserably or is awesome and I win a small fortune. So let me ask you, 'when' you go to the casino site and lose right of the bat! How much are you going to lose before you call it quits?

If I don't win anything at first, I would probably go until I lose 50%-100% of what I came into the casino with, which will be 0.01 BTC max.

It will really depend on the circumstances as well.

Also, as I've said before, many bitcoin casinos let you win at first.

Thanks so much for your kind words!

But stopping when you made profit isnt gonna help you if you gamble again in the future because you would eventually lose even if you always stop at "x" profit

I appreciate your opinion, but I want to assure you that I know that stopping and leaving doesn't change the house odds.  Thanks!

Well since you're looking for ways to make money you might want to consider binary options at coinut.

Tell me if you need help understanding it.  You can signup using the link in my signature.

But...but...you JUST SAID:


So either you DO think that starting and stopping changes the house odds, which is a theory you put forth a few hours ago, or you don't think that starting and stopping changes the house odds, which you just said now and you are starting and stopping because...OCD?

Too bad that it is now that you realized that you need to be discipline in a gambling sites but it is never too late to start again. Although you should realized that even if you stay discipline, you cant always get a profit if you hit the bad streak while playing. So goodluck and I will be watching your journey

If I'm playing at a live casino, then starting and stopping doesn't change the house odds.  But if I'm playing at an online bitcoin casino, in my opinion, starting and stopping will help my chances of winning.

Thanks for calling me on that. Sorry for the misunderstanding.

Hey, thanks for your kind words!  You're right, its never too late to start again at anything, including being disciplined while gambling.

Keep watching me, and feel free to comment on the thread anytime.

Thanks again!

yeah that sort of depends which casino you're at.  I'm not sure how prevalent changing the odds is.

Try out some of those casinos with low house edge, has rakeback, and has a faucet bonus. (ok ok, i'm talking about mine, but hey, good luck and have fun!)

I think most bitcoin casinos let you win at first, but I agree, I'm not sure how much the odds change when you are a new player.

Wish you all the best and to recover your losses. It's hard to control emotions when gambling...when you're ahead, you want more. But when you're loosing you want to recover your loss.
People are strange  ;D

You're right. It is hard to control your emotions while gambling, especially with bitcoin dice sites online. I saw a study about slot machines, and apparently it's easier to get addicted to slot machines because the result comes so quickly.  With these bitcoin dice sites, even if their rolls take a couple seconds, its still an extremely quick result, definitely more so then playing live roulette or blackjack.  That's why more people are addicted to slot machines, (and now bitcoin dice sites) then table games like blackjack or roulette.

However, it is completely possible to control your emotions while gambling, even though almost no one does. It is also 100% possible to be disciplined while gambling. That's what I'm going for here: basically the whole point of my journey, other than making profit, is to be disciplined and control my emotions while gambling, which will ultimately lead to a successful journey.

Thanks for your input!

Hey, thanks for the kind words! Your casino is 64blocks.com, right? Is it like a regular dice site? I've heard of it, just never played there.

I visited 64blocks.com and was kind of confused. Is there anywhere I can learn how to play?

Thanks!

Most of people lost in gambling site, that's very usually.
So i play gambling just for fun, never lost too much i can't afford and also never expect win too much. So i know when is leaving.

Good to see that someone is actually posting his or her journey here. If you win, Bitcoin will attract new investors. If you lose, you might be able to stop people from gambling. Been posting on this forums for Bitcoin.. I dont even have 0.4 Bitcoin yet.

Yes, most people lose. But as I stated in the original post, if everyone who walked into a casino left when they were up, even by just 1 unit, the casinos would be completely broke and out of business. Think about it: if you go into a casino with $500, bet $5 on an even chance roulette bet, and then win, and leave the casino, you've taken $5 out of the casinos bankroll.  I don't know about you, but I would much rather win $5 then lose $500.

Thanks for posting on this thread with a constructive comment!

Hey, thanks for posting something nice. It's good to see that people have constructive things to say about this journey that I'm embarking on.

But for every 49 people who show up, win $5, and leave, there are 51 people who show up and lose $5.  Casinos don't go broke by people betting on -ev spots.  Likewise, a person who goes in once a day and bets $5 and leaves will eventually lose all of their money.

I understand that for every 49 people who win, there are 51 who don't.  But I think you're missing my point. At one point or another, chances are at least a few of those 51 people who lost were up. If they had walked away when they were ahead, the casinos would be out of business.

I get that there is math involved in this, all the games are -ev, etc etc…however, I don't know how you can argue that the casinos would still be in business if everyone who walked through their doors left when they were up.

Keep in mind that not everyone who goes into a casino goes in everyday, week, month or year. In fact, a lot of people who go into casinos only go a few times in their life, so if they only plan on winning $5 or $10, they could easily come out ahead in their lifetime.

But forget about all the folks who don't walk away when they're up, this is MY journey, and I'm going to be disciplined and walk away when I'm up. All I ask from you is that you continue watching this thread, and see how I do.

Outside of gambling, chance is more commonly referred to in percentage terms. If you toss a coin then there is a 50% chance of it landing on heads and a 50% chance of tails. All possible outcomes in any "GAMBLING DICE".

There is a small help tab on the main screen.

https://i.imgur.com/sVc7eKk.png

Well actually all sites are the same if there is a provably fair there . Flat bet cant always guarantee a win for you too but atleast betting at the max bet with max chance will atleast ensure you some percentage that you wish to achieve but ofcourse it is not always a guarantee that you will winn  ;D ;D

Of course there is math involved.  It's very easy math to do.  Let's say the odds are 50/50, and everyone bets $5 and leaves when they are up.  After one iteration, half the people will be down $5 and the other half will be up $5.  Let's say the people who are down now bet $10.  Half will win and half will lose, so overall 75% of the people are now up $5 and 25% of the people are down $15.  Let's now say that the people who are down bet $20.  Now 87.5% of the people overall are up $5 and 12.5% are down $35.  Ect ect.  It'll always be breakeven.  Now of course because of rake/vig/house edge, you know that the odds are not 50/50 but slightly worse for the player.  So the house wins.  Of course you can replicate this will any "betting method" you'd like, constant flat bets of $5, alternating bets, scale up/scale down, it'll always work out the same.  In a breakeven game the house will always break even and in a -ev game, the house will always win.

Now, if you are saying "if people don't bet in a casino then the casino will go out of business" then of course that's correct because there would be no revenue, not because there would be magical losses.  You could say that about any business.  If nobody shopped at a store then that store would go out of business.

Anyway, I don't mean to hate on you or anything like that, it just seems like you have some delusions on how gambling works.  Personally, I love gambling and don't mind throwing some money away from time to time because it's a lot of fun for me.  If you are find with losing whats in your bankroll and are just hoping that you hit some positive short term variance and go on a run, that's awesome and I honestly hope you do.  But if you honestly think that there is a magic method for turning a -ev situation into a +ev one or that by betting slowly you'll reverse the math or something, you may want to reevaluate that.

Of course there is math involved.  It's very easy math to do.  Let's say the odds are 50/50, and everyone bets $5 and leaves when they are up.  After one iteration, half the people will be down $5 and the other half will be up $5.  Let's say the people who are down now bet $10.  Half will win and half will lose, so overall 75% of the people are now up $5 and 25% of the people are down $15.  Let's now say that the people who are down bet $20.  Now 87.5% of the people overall are up $5 and 12.5% are down $35.  Ect ect.  It'll always be breakeven.  Now of course because of rake/vig/house edge, you know that the odds are not 50/50 but slightly worse for the player.  So the house wins.  Of course you can replicate this will any "betting method" you'd like, constant flat bets of $5, alternating bets, scale up/scale down, it'll always work out the same.  In a breakeven game the house will always break even and in a -ev game, the house will always win.

Now, if you are saying "if people don't bet in a casino then the casino will go out of business" then of course that's correct because there would be no revenue, not because there would be magical losses.  You could say that about any business.  If nobody shopped at a store then that store would go out of business.

Anyway, I don't mean to hate on you or anything like that, it just seems like you have some delusions on how gambling works.  Personally, I love gambling and don't mind throwing some money away from time to time because it's a lot of fun for me.  If you are find with losing whats in your bankroll and are just hoping that you hit some positive short term variance and go on a run, that's awesome and I honestly hope you do.  But if you honestly think that there is a magic method for turning a -ev situation into a +ev one or that by betting slowly you'll reverse the math or something, you may want to reevaluate that.
[/quote]

I appreciate your support, but I think I've said plenty of times that I definitely do not think there is some magical method to turn a -ev situation into a +ev situation.  I'm more focused on discipline then on any betting strategy, like a progression. 

As for the math, I get where you are coming from, I really do, but I do feel like casinos would be out of business if everyone who went in walked away when they were up.  I guess we can agree to disagree on that point.

Thanks again for taking the time to comment on this thread, and letting me know your thoughts.  And again, I appreciate you letting me know you're not hating, because as you can imagine, there will be plenty of mathematicians coming on this thread and scolding me for daring to try and come out ahead of the casinos.  (There already have been some)

One last point: As I've thought about it more, I think that the only way I could get to a +ev situation gambling on bitcoin casinos is somehow taking advantage of them letting me win at first.  Because I am very confident that most bitcoin casinos, especially dice sites, let new players win at first.

Ok, thanks for letting me know. I'll check it out.

Fix your quotes.  I thought you were arguing that if everyone stopped when they were ahead the casinos would be out of money.

I'm sorry, but provably fair means nothing to me.  In my opinion, it's just complete B-S.

Besides that, thanks for commenting on this thread!

Yeah probably not all gamblers are going to understand what provably fair is.  That's too bad.

And the fact that dice sites first let you win is a gigantic fallacy.

Lastly I think there's a big difference if you think that casino's would lose money if everyone left when they were at profit.  That's entirely delusional.

Ok, I'm glad you voiced your opinion on this thread.

Mind telling us why you think it's complete BS?

Are you not interested in finding out whether or not the result of your roll was fair or not? Or do you think that even if they are provably fair, they can still be manipulated. Just asking for educational purposes.

GL with your gambling journey btw, mine hasn't been too pleasant so far.

No problem.


In case you have a gambling problem.

http://www.helpguide.org/mental/gambling_addiction.php
http://www.ncpgambling.org/help-treatment/
http://www.youthgambling.com/

I think that even if they are provably fair, they can still be manipulated.

Depending on how the site is doing profit-wise, I think they can make you lose or win. No doubt in my mind.

Thanks for wishing me luck!

I didn't thank you for voicing your opinion, I just said I was glad you did.  And I was being sarcastic. So no need to say "no problem." I'd rather you not comment on the thread at all.

You're obviously one of those people who is convinced that sites like primedice.com aren't cheating because they have a string of code that means they are something called "provably fair." But I'll tell you what: To be fair, I'll do my research on the provably fair thing, and I'll come back to you in a week or so and let you know what I've found out. But chances are I won't change my opinion on it.  There's no doubt in my mind bitcoin dice sites are cheating.  But I do want to learn more about it, so I'll be sure to read up on it.

There's no one who can win gambling, as in the end, it's the house who will take it all back from you and leave you empty-handed.
That's why it is always said "Don't gamble what you cannot afford to lose". Though, I would like to wish you good luck on your betting, but don't be greedy and you should know where to stop, and you will be fine.

Actually there are documentation on it that can prove that they can't be manipulated but after reading you other reply I know now that it is just your assumption at this point. Do read on about it and I'll see what you find in a week.

If you want to read, this site has a very simple explanation about it: http://dicesites.com/provably-fair

This whole journey is about not being greedy and knowing when to stop. Thanks for your support, I really appreciate it!

I'll definitely read up on it. Who knows, maybe I'll change my mind. I'll let you know in a week or so what I think. Thanks for being polite about it.

I'm checking out the simple explanation now.

You can win gambling actually, but its a matter of time until you play again and become a loser.

Protip: Play only once, play big. If you win; run away. Do not ever play again. == WINNER.

To win gambling you have to open a sportsbook establishment and do some advertising and voila you won gambling 8)

Lol at the mentality of a very large portion of this thread. Play once bet big then lose get emotional and deposit again to try win your losses back like the majority of people/gamblers do, then lose again chasing your losses it is never left at one bet.

If he plays 'once' and plays big when he losses he thinks he will leave it at that but that is the beauty of gambling it never gets left at that as the OP will show us soon enough. I am curious though so will hang about, maybe you can be lucky enough to cash out and run!

Even being the investors you can lose out, best chance becoming the owner like everything in life..

Yeah...it just seems like you are disagreeing with things that are facts, things that can be proven, and math.  And you aren't showing any sort of proof or results of these thoughts/accusations, you are basically just saying "I want to justify gambling to myself so I'll come up with a set of circumstances where gambling is good". 

Go ahead and keep watching me, we'll see how I do. Thanks!

That's definitely not what I'm saying, but you're welcome to believe that.

i see that you didnt make any profit from the day 1 did you? if not why?

I did, I made 0.00195 BTC.  On days 1 and 2 I made 0.00195 BTC, and I think I posted on the first or second page of the thread my day 1 profit.

Thanks!

I've been gambling off and on for about 15 years.  The house edge some others mention here is very important to be aware of.  Certain games are better than others and certain sites are better than others depending on the game.  You just have to shop around and play around at different sites to appreciate the differences.  

Don't take threads like this one or others where people may say "site 'X' is a cheater site."  If it's provably fair, then test it out and you should be able to prove valid bets.  Usually folks that claim a site is cheating is unaware of house edge calculations and bet/lost more than they ever should have.

Winning gambling can mean many different things.  In the long run and if you are patient, sure you can win.  But some people play simply for the game and for entertainment so "win" or "lose" is a matter of perspective.  

I'm probably even-Steven as far as my personal winnings go and I've played a fairly educated approach and of course I do try to win.  But regardless of my meager gain or even-Steven status, it has been a ton-o-fun and the free booze and entertainment at live casinos has been really cool.  

Whatever your path may be, educational discussions and other online educations are a great primer for the real thing.  Online can be just as social but I highly encourage some real life gambling and entertainment too.

Hey, thanks for your input! I think you make a lot of good, valid points. I agree that lots of people gamble for entertainment, and that probably provides a large chunk of profit for the casinos.

I plan on being patient, and not getting greedy. That's how I'll come out ahead in the long run. Thanks again!

Alright, so I just finished up a session at safedice.com. I finished with 0.0038175 BTC profit after fees. I would have gone for less profit, just to be safer, but I was down from my initial deposit of 0.01 BTC to 0.008 BTC, and I did a winning martingale (which is when you double your bet on a win instead of on a loss) and I ended up finishing at a little over 0.014 BTC. After blockchain fees, I made a good profit.

That's it for today!

Another day another profit, it is a lucky start and you seem to be doing what you thought you would which is surprising me to say the least. Surly it can't last however much I would like to see it continue for you. Keep it up and be lucky ;)

I think it can last. I have to disagree with you there, but other than that, thanks for the support!

How is quitting while you're ahead to play the same thing the next day any different than just playing all your hands the same session?

I think your understanding of probabilities is flawed. Best of luck though.

I think I've explained this a bunch of times already. But that's ok, I'll explain it again:

I am 100% aware that playing, leaving, and coming back the next day doesn't change odds, or anything like that. I understand probabilities, I really do. However, with the right discipline and control over your emotions, I think I can come out ahead of the casinos in the long term. Also, I am pretty sure that online casinos, especially bitcoin casinos, let new players win at first, to a certain extent. And that's just icing on the cake for me.

Thanks for wishing me luck, I really appreciate it.

Some people just worried that you might keep on going while you are ahead. For now you maybe able to control your emotions because you are winning and you know when to stop but what if you lose and you are trying to get what you lost back, you then will end up depositting more and lose more  :-\ :-\

The main point of this journey is for me to be disciplined, and not deposit more, even if I am losing.  If you can control your emotions, and stay disciplined, you can win.  The main reason I'm winning is because I am controlling my emotions, it's not the other way around.

Thanks!

Well one of the reason for that is because that you havent hit a long red streak that will ruin your day and make your mood swing. We will see in the future on how you deal with this if you have meet the red long streak of losing, some people just cant keep their emotions after they get a losing streak  :-\ :-\

Are you keeping track of your starting point.  I haven't read the whole thread.  I know you said a .4 bankroll which is plenty to work with.  You should start a google doc or something to track your day-to-day earnings/losses. 

I totally understand that some people can't keep their emotions in check after they get a long losing streak, but as I've said a couple times now, the main point of this journey is for me to be able to handle losing streaks, and ultimately come out on top because of keeping my emotions in order.

I won't go into detail on this yet, unless you want me to, but in the past 3 sessions since I started this journey, I have been down at points, sometimes down to as little as 0.003 BTC from a 0.01 BTC deposit, but since I was able to keep my emotions in check, and not let my mood swing, I was able to bounce back and come out ahead.

Hey, thanks for your interest in following my journey!  Here is the wallet address with my 0.4 BTC bankroll:

https://blockchain.info/address/1Q247kQux52qBLBX4tVXFbX344RyevhmhB

You can track all the transactions on there.

I'll start working on a Google doc now.  That's a really good idea.

You should definitely check out some great tipsters out there giving some free tips, follow them and profit.
Check the Gambling section of the forum itself and you will find many good tipsters that you might want to try out.

I'm pretty sure your statements are contradictory - if you have a negative EV you are going to see a loss in the long term if you play enough (and by enough it can be anywhere from 1 to infinite bets). I don't see how discipline/emotions will actually help you when it comes to dice gambling - if you're doing something like poker then discipline and not falling prey to tilt will definitely help you earn more.


I would tend to disagree - it doesn't make sense as casino's would then be filled by people continually creating new accounts to abuse this. If it's what you believe I'm not going to argue but from a logical perspective it doesn't make sense - much easier to run promotions and announce these.

I think you should record the entire happening while you were playing on there just for a record just incase it might be usefull someday for some people. It will serve as your journal as well.

Thanks for your input. I understand the negative EV thing, but I really do think that discipline and controlling your emotions can help you come out ahead in the long run.

As for bitcoin dice sites letting new players win at first, I think it does happen with the majority of them, but it's more complicated then just making a new account, winning a little bit, and then leaving, and repeating later. It depends on a bunch of things, such as how the site is doing profit-wise. I'm sure there are also a lot of things going on in the backend of these dice sites that we don't know about.

Ok, will do! I'll try to add some notes with each session report.

No, you dont.

Anyone want to side bet on how long it will take for OP to get broke in his journey?

If you give me a time scale you think he will go broke, I will bet against as a long shot? 

The thing is most dice sites are provably fair which means that they enable you to mathematically make sure the end result is not actually tampered with. This is good because it makes sure the house doesn't cheat by changing the results, but it also nullifies your idea as the hashes for the results would not match. It might be true if you are dicing on one of those random shady dice sites that don't have a provably fair system in place.

You are trying to reason with someone who thinks he can beat dice in the longterm by being "disciplined"

Well one thing is true that some dice sites could be cheating because if you are not verifying every roll you cant be sure that the rolls you are not verifying are fair like it happened with 999dice

I'm looking into the provably fair thing now. I'm going to do some research on it, because there are so many people saying its legitimate. I'll get back to you in a week or so with what I think.

If you're just going to get on here and hate, get off.  You don't have to be annoyed that someone is trying to get ahead of the casinos.

Go ahead. I would love to see magicmexican lose his money.

Okay, I just finished up today's session at safedice.com. I started with an initial deposit of 0.005 BTC, and after a winning martingale (same as yesterday, you double your bet on a win, not a loss) I ended with 0.0108225 BTC after Blockchain fees.  That's a profit of 0.0058225 BTC, more than double my initial deposit.

I don't plan on doubling my deposit when I go into a session, so to be safer, I will continue shooting for a 10%-20% return on my initial deposit each session.

Thanks everyone!

You are right.
Sportsbook gambling can be profitable if you 'spot' some trend.
Dice gambling is based on luck.

Not just limited to that, but at sites like Directbet.eu, you can even bet on Sports with best odds available till last minute during live matches, which gives you a chance on earning some very good %s on completely predictable matches which you can't get from dice, as dice needs luck.

Doesn't look like he is as confident as he first made out offering a side bet. Maybe just wanted to post to get paid a few extra satoshi because I accepted with in reason and just needed an amount, he came on replied to someone so bollox to him. He is annoyed because after months of being a so called self claimed 'professional' tipster he is only up a few bitcoin, worse than minimum wage in a 3rd world country.

Hey man, I appreciate your support! I agree, he probably wanted to post to get a little bit of BTC from his signature campaign.  It's such a pain when people have to put their worthless opinion in just to get a little bit of satoshi.

Anyway, we'll see if I can get more profit than his picks lol

I am actually up more than 60 units after ~4 months, which translates to more than 2.5x bankroll growth with a near zero risk of going broke. I am not sure where you were you getting the amount i made in btc because they only slips i posted were the parlays for 75x-600x odds that i was doing just as a bonus.

So there is no real need to spread the misinformation here, even though you are butthurt for some reason (not sure why).

The unfortunate thing for you is that stats dont lie, and i have stats of 55 unit profit after ~1000 picks, which is a very solid record unless you are just a retard who is swimming in delusions about sport betting. So i am not really just a 'self claimed' professional, i am backed up by a decent sample size of stats.

Cornerning the side bet - its obviosly just a joke. You need to be insane to think that anyone would consider betting on it, since OP's bankroll is just pennies - it can be easily manipulated. Plus its overall would be near impossible to track and confirm.

And to the OP - good luck in your journey of beating dice with martingale and 'discipline'. I was only trying to give you the cold shower of reality and math, but you are clearly not interested in that.

Alright, you can continue doing your "e-sport" picks, and we'll see how you do. Let me do my thing, and hop off this thread.

why you want to make him stop believing in himself? im pretty sure hes giving his best to beat dice, what no one  have done yet, maybe one day he will make several casinos go broke

I have always felt that betting on sports is the easiest way to make money if you are in to like basketball. For example I made .1 BTC last year from winning a bet that the Spurs would beat the Heat.

Well there's two factors...the math and the mentality.  If he truly has a .4BTC bankroll and is only risking .01BTC max per session, it's going to take a long time to bust.  Even if he's betting many times his deposit with a martingale based system, his projected loss per session is still pretty tiny...assuming he's super disciplined, it would take him ~800 days to go bust (mathematically).  So any time frame under three years would be basically betting on if he starts tilting after a couple losses and punts his entire bankroll and/or gets fed up with the whole thing and just leaves.  If I were to set a fair line, it would probably be in the 18 month range, if we assume everything he says (about bankroll, how much he puts on, and the goal of staying disciplined) has been true AND if "he quits without busting" counts as a win for the "bust" bettors.

Thanks for your support! He's not making me stop believing in myself, though. I plan on slowly beating the casinos.

That would actually be pretty cool if my supporters and doubters could bet on whether or not I'll go bust.  I'd be willing to cooperate, and help set some rules, if you'd like. And we could get escrow involved as well.

I dont think you`ll win bro, you should stop and learn from other peoples mistakes.

Let history reward you, then repeat one.

Okay, you're entitled to your opinion.  However, other people weren't disciplined, and made mistakes. I plan to stay very disciplined and in control of my emotions.

Thanks!

yeah, but can you do this on a regular basis? if not then whats the point?

i think you can do it, it depends on what game that consist more odds of winning.

Like Black Jack seems more viable compared to the other games listed.

Thanks for your support! I would do blackjack, but whenever I play it at an online bitcoin casino, weird stuff happens. Like the dealer will beat my 20 with Blackjack, or something crazy like that, and it'll happen a few times per session.

Not a weird stuff if it is provably fair and you can verify this. Just call it as a unlucky lost. If you will want to play blackjack, I will recommend to play in satoshibet / coinroyale since they got their own tools for you to verify it directly if you think that the "weird-stuff" happened

P.S : Blackjack is among the games with the lowest house edge

Gambling should be a means of entertainment that fits in your budget. Only a small percent of gamblers make a living of gambling. My advice just have fun well gambling and don't expect to get rich.

Small percent, that has huge bankrolls.

The odds are against you if you only have little to work with, but unless youre cheating in some way to compound it easily.

Yeah, satoshibet.com blackjack seems alright, at least at first.

I'll try it out.

Good Luck... but just remember, it's human nature in gambling to not stop when you're ahead! :-/

Any sites with provably fair of course is "alright" . You cant blame the site to be doing some "weird stuff" if you are losing the bet.
The reason I am recommending this was because blackjack is one the most games with lowest house edge and using satoshibet which is convenience enough with their provably fair verifier on site

That is my thinking human nature it is never enough but to be honest the OP is not doing to bad controlling the urge, the test will be when he turns up to the casino and loses his first bet and second and then all his budget for that day. Will you stop OP? We will see I guess. Good luck though!

yup, who knew it would be so hard to just get a bit of profit each day.

You could try to make money with sports gambling, it's probably one of the only ways you can win gambling.

Alright, so I have some good news and some bad news, but the good news completely overshadows the bad news.

We'll start with the bad news:

I had my first losing session today of 0.002 BTC at coinichiwa.com. I deposited 0.002 BTC, but I was never up enough to cover fees and make a profit.  I guess that sometimes this will happen, so I will be prepared for it.

Now for the good news:

I just finished up a session at safedice.com. I started with an initial deposit of 0.01 BTC, and after a winning martingale, I was able to more than double my deposit to 0.023 BTC. After fees, I have a profit of 0.0128 BTC. I'm glad I got such a big profit for the amount I deposited, but I definitely don't want to plan on doubling my deposit each session. That's just a recipe for failure. I go into each session with a goal to win 10%-20% of my deposit.

I think I'm going to take a break from sessions for a day or two, because after 4 days, I have a profit of 0.02394 BTC, which is over the 1% or less I was planning on getting per day.

Thanks to everyone who has been supporting me!

Care to go into details for this bet? From the post that I read back it seems like you are only aiming for few percentage of your deposit but yet in this bet you are getting double of what you deposits to the site.
This extremely crossed the own boundary that you set about only aiming for a few percentage of deposits and thus you might be lucky for this bet this time

Basically for this session I just got lucky. As I said earlier, I don't plan on trying to double my deposit when I go into a session.  However, I did a winning martingale, (which is when you double your bet on a win) and I got lucky and doubled my deposit fairly quickly. 

Meh.  Most things are a gamble.  @OP, What I would do instead, would be to invest in stuff and record your investments here.  Of course, that takes some knowledge and well, it's less fun? :P

investing wouldnt give as much money as you can possibly earn by gambling and of course gambling is much more fun than investing to sites that might turn to hyip scams, and as far as i can see this guy is in 0.02 profit already so thats not bad

Investing wouldn't make you as much as gambling lol. Try telling that to people that brought bitcoin at cents or darkcoin or nxt, how about litecoin. Investments are gambling and with a possible much higher reward. Who said invest in hiyp scams?

Okay, so today went pretty well.

I decided to take a small session at safedice.com, with an initial deposit of 0.005 BTC.  To be honest with everyone who has been following this thread, I wasn't that disciplined in today's Safe Dice session, because I have been able to double my money on my last two sessions there. I got up to 0.007 BTC, or a little over (I can't quite remember) but I didn't walk away then, which is what I should have done. I ended up losing my deposit for that session, but a few hours later, I was able to gain it back like this:

I deposited 0.01 BTC to betcoin.ag from a separate wallet than the one that is public on this thread, because I was planning to play a little bit of poker with it. I ended top playing a few minutes of Micro stakes on Betcoin Poker, and I lost 0.001 BTC (I'm not that good at poker  :) ). I then decided to go to the Betcoin Casino, and I was able to go from 0.009 BTC to 0.018 BTC in a few minutes.  A few minutes ago, I went back and had another session, and I went from 0.018 BTC to 0.025 BTC. So my profit for the day is a little over 0.015 BTC after fees.

Betcoin.ag's withdrawals aren't instant, so I should get the coins in my wallet in a couple of hours. I'll put the 0.01 BTC back into my other wallet (which is not public) and the other 0.015 BTC will go into the wallet that everyone watching this thread can follow.

I have definitely had a stroke of good luck in the past 2 days or so, and we all know what happens when you get too greedy after doubling your deposits a couple times, and even tripling it once.  So I really have to buckle down at this point in the journey, and get really disciplined.

Another solid proof that people cant stop their greed into getting more from gambling. This post is made less than 24 hours after you posted this one


You may be lucky this time but this serve as a another proof which might be the beginning for you to lose even more because you cant control neither your emotions nor your greed . This is perhaps the reason on why you lost alot of BTC before you started this thread.

P.S : you cant stay lucky forever

Yes and for reasons like this is why you should just gamble for fun. Don't take it too seriously and you will be fine.

There are many people here who are gambling just way too much money into dice,.

Totally agree with you, I never gambling to much and just for fun, but it's hard for people to control their lost.

Any profits won from gambling is illusionary if you do not stop gambling.
The house edge will make you lose btc in the long run.

yes, it's the truth, so does trading bitcoin, altcoin and stock, future.

Last year once I earned 70k USD from altcoin, but I didn't sell them to fiat, and finally it was crashed, and in the end I lost my principal, which was 6k USD, it is a very sad story, and I hurt a lot from that, so every speculation, investment are all gambling, and if we do not stop gambling, we are very possible to broke very easily, although we may have earned a lot from gambling, so guys, let's enjoy the profits, don't gamble in the long term, the house is always having high house edges, which make them rich and us broke. >:(

I tend to have bad luck with straight gambling, so I limit my gambling to a couple a month to test my luck, the rest of the gambling is basically trading, trading is still gambling but you have 50% chances of going up and down, less risky.

After losing 0.01 BTC yesterday, I am up around 0.024 BTC for the journey. It's time to take a 2 day break.  I'll update everyone on the next session in 2 days!

I'll tell you what. Gambling is fun only if you win, no matter if it is a small or a big amount but if you kept on losing , then it is no fun at all and stressing. That is the main reason why people cant control their emotions while they are stressing or angry which lead to deposit more to try to recover the loses


Hope you keep up with your word this time, you have broke your word twice in 1 day

I still dont see how taking a break would help you at all, is not like you have to use your brain to bet or something, why not just bet 1 day a few hours, you would probably just lose or make a little fortune

Clear up your mind is a good thing to do sometimes. He is "resting" because he made a lot more profit than what he should have made. If you read on this entire thread and his "determinations" you can clearly see that he only aimed for a small protion of his bankroll each day but fortunately he made a lot more and doubled up every of his deposits (though he broke his words twice in a day )


You have to use it, otherwise your body wont work

P.S : we do need to make a bet with our body which is controlled by our brain  :D

It wont, its just his superstitions, logical fallacies and delusions


It doesnt matter if his mind is "clear" or not. A drunk monkey or a betting script would have the same EV on each bet as OP does, because he is not playing poker or betting on sports, he is rolling a dice.

The only thing that will change as a result of his 'discipline' is the time that he will need to go bankrupt.

 It does not really matter if he would gamble 24/7 or just aim to get a little profit every day. He can roll the dice recklessly or carefully, the end result will be the same. I'm not talking about the things to come. His demise is inescapable. It's an event of the past.

whats ops total loss at this moment or are you up?

I read this thread and I still don't know if you want to win with gambling addiction and quit completely or just win more money than you lose while being moderately active gambler at the same time.
I've seen similar topics and statements from people who thought that they can tame their gambling needs and from what I could see it is hell of a hard task.
From my experience I can tell that the best way is to quit gambling for a while. 3-6 months would be nice, and then if you still would be in need of betting money - then lower your bets significantly.

I've decided to quit while I'm ahead. This journey is over...for now. If anyone knows any good tipsters, let me know. I'm looking to make a long term profit betting on sports.

Thanks everyone!

You seems to be contradicting your own words there. You are stating that you decided to quit but on the other hand, you are looking for a good tipster for sports betting. Point is once you are a gambler then you will be hard to control your greed and emotions in winning more .You might say that you want to stop but deep down you will always want to earn more from gambling

If you are looking for tipster then you could check on this user, basically I wouldnt say that he is good because some of his picks are quite "lucky" this few days but still he is still the best currently around here https://bitcointalk.org/index.php?topic=881042.0

Look at picks made by knowledgeable people or be knowledgeable yourself.

My cousin watched a roommate of his win big on some online gambling site about ten years ago, he had never gambled before but now has become a full-blown gambling addict. What is the worst part is he is in total denial and unlike a drug abuser, can lose hundreds a day whereas a drug addict would die if they did that much dope. First it was the online gambling, then the poker rooms, next a "friend" took him to a game room and that was his big thing, it just keeps going on and on and he justifies it and will say "well, I'm not playing poker anymore" but he is back to the sport's betting...it is just bad.

Maybe recommend your friend to this site:

www.gamblersanonymous.org

It's a site to help people stop gambling.

Goodluck but the chance of you profiting long term is nil.