Bitcoin Forum

So I was on PrimeDice the other day and thought of this question.

If I gave you 0.001BTC and asked you to double that, which one would give better odds?

A) Using martingale aka. betting 1 satoshi until you lose and then you double that amount

OR

B) Betting at 98%?

It's better if i choose first option because second option is too long

But, personally i better use my own technique

and What's your technique?

all in on 49.5% 2x

doesn't make any difference if you martingale or yolo it on 98%

cause eventually you will bust . It's all luck

Every roll is individual so there wont be any connection with the previous bets . Read up gamblers fallacy

The fewer bets you do, the higher chance you have of profiting.

My choice will be:

90% win chance max bet always 3 times
95% win chance max bet always 5 times
97% win chance max bet always 10 times

using this technique I always double the amount without problems.

My custom martingale / all-in  ::)

In my opinion,  use your 0.001btc on satoshimines. This site can help you to get double of 0.001 btc. I also made 7 btc from this site before some 15 days. But u lost them all.

Yes, I like the bitcoin minesweeper sites a little better than dice sites. :)

But personally I prefer diggit.io over satoshimines.

I choise A betting 1 or more satoshi until lose 3 times and then go all in  ;D
only two choices to lose or win

After seeing some response in this thread. I will post a challenge for members and up. Please note only 1 person can take on this challenge!

I am willing to give a member who I have chosen worthy enough 0.001BTC and try to double it. You may go on any gambling site you wish.

Rules:

1. If you win I prefer you give the BTC back. (If you do and I get 0.002BTC, I can then expand it two 2 people who can take on this challenge)
2. If you lose you do not have to repay me as this is just an experiment it's okay.
3. If you win or lose, please post on this thread telling us what you did and the results.

I might choose none of those, i like to roll on my own.

Option A

However martiangle not always safe and house will bust you at the end.

I would take the option 1 if those were the only options I had to choose. Otherwise, I'd mix my own, which includes different strategies. But I am not taking any challenge as I only prefer to gamble with my own money.

Martingale is more risky but it's quicker and requires less effort.
The second option is safer but it requires too much time.

Both are risky .Mathematically, if you keep betting 0.001 , 50 times at 98% , and after 50 wins, you will double your money. Since its 98% , you are also supposed to lose 1 out of 50 , but that 1 might happen anytime, it might not even happen in the 50 rolls. Might happen in 200. It might also happen twice ,thrice or more number of times in the 50 rolls.

+ house edge

that's the problem, it depends completely on the house edge.  Martingale on a fair and good roulette with 0 being a push bet, should be better than the 98% option, but it depends on rakes and house edges completely.

The best strategy in this case is bet the whole 0.001BTC at 49.5% odds.
So you'll have the max probability to double your deposit. And save a lot of time.

Both are risky. If you looking to get double fast then I would just play once with luck.

I would bet half at x3 then change seed and bet half again at 3x.

gambling is just about LUCK...

whatever your strategy is...

 ;D