Bitcoin Forum

Has anyone here ever made money gambling with BTC? I am meaning the User Side, not the admin side.

Do you mean the admin of the gambling site or the "player" ? Only a few people has made a lot of money on the gambling the site , but all know that at the end is only a question of luck (and the site will win at 99% of the times).

I mean the player. I am doing this because I am tired of seeing posts like "I can't repay my loan for a few days because I lost .xxx BTC gambling", etc. I am trying to show people just how easy it is to lose money gambling, and hard to win.

This is a simple question.

On most fair gambling sites there's about a 49.5% chance to win and a 50.5% chance to lose (depending on the house edge).

So of course people have won gambling, but other people have lost slightly more.

My guess is more people publicly complain on their loses than celebrate their wins.

You think there is a 49.5% chance to win?

Yes, on average. That's what the house edge means on a probably fair site.

Got around 0.7 btc with primedice from the faucet.
Ended up with 0 at the end though. I guess the house does always wins at the end.

I made profit - ( minus ) 12 Btc . I stopped from being addicted  about 8 months ago,
Now, I am gambling just for fun, only with small amount.
 

I'm having some profit playing dice, martingale style, more than 220k bets already, around 30% profit now.

I think we have found the problem...

Nobody quits when they are ahead. They keep going till the house wins.

of course,but it is more a matter of psicologhy than a matter of luck,if you win,but you don't know when to stop you will finally lose, and you have to know to manage your bank

Most people will lose against the Casino because of the House Edge. Even in Blackjack where you can narrow down the House Edge to under 1% you get a lot of players that don't play basic strategy and increase the House Edge against themselves. Makes it easier for the Casino to win in the long run.

That being said I've probably lost money overall in gambling. Winning streaks make it seem like it's profitable but with win streaks also come losing streaks.  In the end it is all entertainment anyway. Not a moneymaker.

Yep even with a 0% house edge casinos would still win. Ive never seen anyone come here and say hey i won 10btc gambling but ive seen a lot of people crying about loosing a lot

Made money.. yess  ;D ;D ;D

but then lose it all due to re-betting...  :'( :'( :'(

yeah thats it, the reason why gambling players dont win is because its like they are only waiting for their coins to be gone because they dont know how to stop when they are winning

Guys, until the human race can develop enough control to stop while ahead, most people will lose. It's as simple as that. All these "Do people win at gambling" threads are fairly pointless because obviously people have won while gambling, but its the people that are greedy that are the big losers.
The reason you see all the "Lost x.xx amount of btc" and less o the "Holy shit i won tons" threads are because of people wanting to mourn over losses more than celebrating wins.


On the other hand,people who gamble with loans are stupid.

Lots of people win playing poker. I've consistently won small amounts playing poker. Before the spike to $1000 last year I had accummulated ~13 BTC, primarily from playing poker off and on ... (I didn't sell at $1000, lol.)

Casinos make money from gambling. Why? Because they are not gambling.

i can personally say that ive spent a whole 12$ in my life on btc. and i gamble everyday with btc. i have sold about 6btc in my life also from gambling. so im up a little over a 2 year period with gambling.


i do most of my gambling on sportsbets, seems to be the most fair way to gamble vs all these "provably fair" casinos and such, but ive also made a little off these other sites. the only money ive ever lost on places like luckyb.it, primedice, or moneypot is money that i was up anyways.

so to answer your question YES ive made money from gambling. i agree with alot of others in this thread also though, quitting while ahead is the hard part. i turned a .009 deposit on primedice into over .8 and within a half hour i watched that .8 go all the way to 0. so if youre gonna gamble folks make sure to stop with profits

This is only SEMI accurate. Casino's do take a gamble whenever they allow people to win money. However, they have a safer bet. They are SUPPOSED to win. On the off chance you get someone like nakowa(justdice) or Trolljegeren (moneypot) or The primedice dude that won 2k btc(name?)who does win a SUBSTANTIAL part of the bankroll. The casino loses, obviously. According to probability, the house should win, but they are not guaranteed too.

i think im barely in the green with dice sites, and a ~30% profit on betting on esports.

in what multiplier are you using?

If your going to gamble against the house your always going to lose in the end. I personally have make a lot playing poker with bitcoin though. There are a number of trustworth bitcoin casino sites out there that payout with no problem, thats if you get luck and win.

yes 50% my btc from gambling, gambling very easy get a lot money but high risk need good strategy for win everyday ;D

How do u define gamble?

Pure gamble like dice, roulette, sport betting, I have earned 6k USD from dice(bet with 2X), lost 200 euros in william hill roulette, a few in bet365.

But I lost a lot in altcoin trading, btc future trading, trading is also gamble to me. Maybe it's not gamble for u.

Btw, I believe in every choice you make is gamble, like do what kind job is, marry with whom, if make the wrong choice, we may lose more.  ;D

To be in a up side, you need 2 things. The luck to overcome the house edge, and the self-control to stop yourself from further gambles.

PS. I do make a small profit from gambling myself.

I guess no one is able to master self control. Even if I sometimes lose just 0.001, I end up losing a lot more just to recover that small loss.

Most people(including me) could only lose their money, because the the gambling sites are always profitable, that's why there are so much gambling sites out there.

Something like this you  mean?
https://i.imgur.com/lAOJK9L.png?1
I did that yesterday.

Its really tough to end up in profit with gambling but I have been that lucky guy.
In lifetime I have been in 1.8 BTC profit by just gambling and that's a decent amount of profit.

Actually you just need to know when to stop.

That doesn't make sense.  Is that in the middle of a bonus game or something?  Because what's showing on the screen def isn't a 400x payout.

It was a 26 free bad girl spins. Plus some random 5 line worth+wildsor 27 free s pop ins I don't remember but were a lot of spins.

I won some from Luckybit, that is a great and funny gambling site to play.

I mostly do it out of boredom. I wouldn't say I won anything but I am more like break even.

I have made like almost 1BTC on primedice. And on sports I have lost like 3BTC in the past one month. But still earlier I had made 4BTC profit in sports. So yes overall I have made like 2BTC while gambling.

Of course, short term everyone has.  However long term you need to be advantage gambling so picking games like p2p poker is a great idea.

not all person really profit from the short term, some people could just bust out their bankroll, and the only way to profit from the house is to beat the house edge, which im referring to moneypot with their bonusses. as stated by Rhavar

and btw I made like 0.4 from moneypot, few clams from JD and lost a lot to Nitrogen and Directbet which I cant really remember

i made 0.4 once out of 0.02 that i earned on minecraft server. i won money on 999dice even though everyone say its rigged i guess i was lucky

Never had luck on gambling, have tried almost every form of gambling, roulette, dice, chain game, card, sport betting, it all ended up with negative balance. I never bet high amount so it really didnt bother me at all..

Once I saw a guy with more than 2000 bitcoin profit from dice site

Are.you talking about HufflePuff?

I have always lost all. Pennies worth of satoshi down the drain. i am no good with gambling, so I never invest, only the freebies on giveaways.

Its depends on the user, how they gamble their BTC. If they have a good strategy and not too greedy, I believe they can make money from gambling.
But of course without a doubt gambling is just about luck.

However I also want say my won , I've won 1.22 btc on coinichiwa.com and  0.20 on diggit.io (if I remember correctly) but later lost a few bitcoin on primedice.com; after that day I have stopped to gamble ( free money doesn't exist , and I have learnt that it is only a question of luck).

I've lost about 1btc on primedice  :(

After that i've played with small amount and won small amounts!

the guy that won 2000btc on primedice was hufflepuff but he didnt get paid. he got maybe 40btc total from all that. he was found to be a "cheater" and primedice kept his funds. not sure if he was cheating or if they just didnt wanna pay. either way ive seen nowhere the guy complaining so he mustve been cheating

i am making btc, not a lot but its the way i gamble that lets me win. i lost at the start until i worked out the pattern now i win about 93% of the time, overall i gain

Nice title for a thread. Well let's give you a question in turn. Why are there more and more casinos or dice sites everyday?

I have seen many people just losing while gambling. It requires luck to succeed. It's better to go for investment sites that are reliable and give you a fair amount of profit.

gambling is a very bad habit and can cause a lot of pain.

Gambling is not a way to make money, generally a way to lose money. However if every once in a while you gamble once or twice theirs ALMOST an equal chance of losing/winning

I made some pennies.
But I lost much more on sports betting :(

I have made money and kept it, by playing internet Bitcoin poker against people who are worse poker players than I am on SwCPoker.eu

This is how you do it, play poker against people who suck. Free money.

Sure you feel bad... but ya know.... you get over it.

well, im making some money not big but its enough..
because im risking small so my gain also not good...at least i can save some money for goods

yes because gambling sites have the slogan "homeowners always wins"

so I always hesitate to make a profit much on gambling sites

Well yes of course thats how casinos make their money, if more people won than lost then they would not be in business anymore. Theres no guaranteed profit on gambling sites, however if you invest then there is a much more stable and in your favor profit.

I don't have profit, but one of my friends have made a very nice profit in sports gambling.

Really? I usually hear hufflepuff's story, but if he didn't get paid, why people are always talking about him?

PD is no bug, how can this guy cheat? I am confused, are you 100% sure he didn't get paid? ???

From where did you get this story? When was he found out to be a cheater? I never heard of something like that. I just sometimes think that hufflepuff was created and managed by stunna/edward himself and they made him win just to create a hype around in the market. No one ever in the pd mod community or normal guys ever said that hufflepuff was a cheater.  Although my personal opinion is that he wasn't a real person.
But I am sure there was no case of cheating registered.

There was actually a player. Can't recall his name. But following up on that, there was another guy , who basically made 10 BTC bets 140 times and won them, just to prove the point. It is rumored it was him.

Oh my, we have 2 different conspiracy theories on that lol.
AFAIK, Stunna has never stated hufflepuff is a cheater or hacker.
And IMHO I don't think PD need to create that type of fake story to attract players. It has long been the most popular bitcoin gambling site.

I believe the person in your mind is RobinHood. His winning streak can be seen in https://bitcointalk.org/index.php?topic=208986.msg9576925#msg9576925, and he is only able to withdraw 40 btc https://bitcointalk.org/index.php?topic=208986.msg9577001#msg9577001

I am sure that hufflepuff wasn't a cheater.
But who doesn't want free publicity? All the gamblers sometime or the other have discussed hufflepuff winning 2000+BTC, that has done a lot of publicity for them. Also agree that they don't need to do such stunts but who knows maybe they did it because there is no harm in doing it.

Hufflepuff was muted from PDs chat(the mod who banned him should be demoted), so we didn't even get to hear from him after he won 2000+BTC. A lot of things could have got clear if hufflepuff was allowed to chat. But he wasn't. Things remain a mystery

yaah, me too, it's my first time to hear someone said hufflepuff is a cheater.

Anyone knows did he get 2K btc paid or not??

If not got paid, we wouldn't talk this story again and again, I guess he got paid...

Hufflepuff was paid, he was the reason the max bet limit was cut in half. Robinhood blatantly cheated (won every roll) and was only able to cash out 40 BTC out of the 2000 he "won".

A user named Nakowa took Just-Dice early on for a lot of bitcoins.  They were not worth what they are today, but it was a significant amount.

Dooglus explained that Nakowa had almost as many BTC as the sites bankroll at the time and so was able to make max bets and just wait for variance to break in his favor and then STOP. 

It is that last part that seems to trip up many potential winners.  Countless times I've seen players get up large amounts only to give it all back to the house.

he did got paid for the 2k btc
and also he is a cheater, i think he know the server seed, enabling him to see the next roll , the same like robinhood did

Most of the sites allow you to view user stats, and its easy to see that a lot of players are winners as well.
So we definitely do have winners.

Yes he did get the 2000BTC because I remember it when Edward reduced the max profit to 20BTC from 40BTC. There was no point of reducing it if he didn't get paid. And no, he was never reported cheating. The casino would have investigated before paying him out. (only hold true if hufflepuff was a real guy)

The house has a edge and that means in the long run the house will always win, has anyone made money from gambling btc sure they have but have they had the will to leave the site with their winnings as a past gambler i say 8/10 probably not  :(

I think this picture says it all... :(
https://i.imgur.com/3aLdmjb.png

I am sure most of the people who gamble lose, but it doesn't mean there aren't any winners. A lot of them are winners as well.

Just compare the amount of 'I lost btc gambling" threads to the 'I won btc gambling!' ;)

No doubt you can win big if you've got btc to begin with, I've won ~5 btc in total but still managed to gamble it all away. The hardest part is knowing when to walk away.

Actually I did...
http://snag.gy/ce1Bw.jpg

I'm using TR.BT to maximize my chances.
It's thread is here: https://bitcointalk.org/index.php?topic=980826 (https://bitcointalk.org/index.php?topic=980826)
Take a look at the readme file inside the folder. That helped me to build up a good strategy.
GL

wait so you actually made 5 bitcoins? thats insane what gambling web was that?

It's not just a questing of what website that is. Well, it's 999dice because there you can gamble in Doge which is much easier to build up than BTC. But it's the method you use that is important. As I said before I use that TR.BT bot that can do bet sequences. It's the only bot I found that can do this.

maybe you can share the strategies that you used? also i heard that 999dice is rigged why you play there

999dice is rigged , there's a way to cheat their system tho :)
i havent completly figured out how , but im starting to see a pattern.

999dice isn't rigged. That rumor is BS. You can check the provability for each and every bet. If they were manipulating no one would use it anymore. I use it not just because they have Doge - do you know another dice site with doge? I use it because of 0.1% house edge.
Sharing strategies... well I use a 95% strategy with varying bet sizes. But before I start explaining in thousand words what I do, why you dont just take a look at that bot? There comes a pdf with it that explains not only the software itself but the whole math and gives examples.

Can you give any evidence?
I dont think you can because did you saw my stats here https://bitcointalk.org/index.php?topic=977287.msg10691833#msg10691833 (https://bitcointalk.org/index.php?topic=977287.msg10691833#msg10691833). I did 355 million bets on 999dice and made 9.7 million Doge profit. Dont you think that if it is really rigging I would have ended up with such a profit?

well it might let some people win and make other people to loose cant it?

if you someone figured this out, share it so that people can claim their lost back, play fire with fire is the best thing to do with that dice sites

Thats what normal casinos do, is not a proof of it being a scam haha, but it is true that 999dice has a bad provably fair system and if you are not on the fair bets tab you cant check if it is fair so they could be scamming you but we cant really prove that unless someone figures how they do it and uses it against them, some usr above said he was figuring it out, i kind of doubt it but we will see

wait so if he will find it out he will be able to win a lot of money or will he only have the proof that its rigged?

Both if its rigged in a way that lets you win and then makes you lose you could just create new accounts each time win and then another acount and so on

All dice sites are "rigged" since they have to make a profit. However the "rig" keeps a long term house edge at about 1-2% depending on the site. If the site is provably fair, you will be able to verify your bet was done fairly.

all dice is good and sometimes rigged..
but we should know that no matters what the House always win..

so goodluck with your gambling

Well no it is statistically possible for the house to not win a single bet. Anything is possible with random numbers, but the house edge makes the randomness more in the house favor to make a profit. Many people have made away with some profits, and many people lose, its possible to beat or lose against the house, and almost equal chance at that.

I've won but not enough to brag about or make a difference in my week.

Yes I have made money as well in dice. I used to martingale and converted 1 BTC into 3. But didn't play much after that and got out profitable.

made $5.00 but not really huge compared to most people.

i keep losing the profits i made, since i dont know where to invest my btc.

Maybe then you shouldjust hold on to your BTC and hope the profit increases that way.

I don't play that much but all in all I would be in profit as far as BTC gambling is concerned. I don't over bet. I set up a target of winning and losing and if I achieve either one, I stop for the day.

I would have made a small profit, but in the long run I expect to lose it all.  ;D

So, in my opinion, taking out a loan in order to gamble is a big mistake.  So is gambling with money you owe someone else.  I gamble BTC and I tend to lose more than I win (as is the rule) but I do it with my own money in order to have a little fun playing this or that game.  I consider the money I gamble to be the price of the fun and if I win something then it's a bonus.  People who are doing what you are saying are being irresponsible, IMO.

yes true, of course they have a secret so as not to go bankrupt sooner :)

so every one of us wins, we better save them do not continue to play it, because in the end we will lose everything :)

basically we can keep the "lust"

You could make money being invested in the casino bankroll or you could win a jackpot and not losing it after or win a lot of money and hold but it is probably very rare. I would estimate more than 90% of regular casino gamblers have a negative result.

This is true for the games like roulette,blackjack,slots etc but i have played dice multiple times and i am roughly break even i say even but i say that low blowing the real i am up a few quid from it and i am sure money others are also, it is finding your balance and leaving the game when you win a nice little profit. You are probably right though as a lot of people do not understand nor care when they have good profit.

But many website with investment program ended with scam case.its like a ponzi.
Becouse when they head up with some one know to cheating system they always bankrupt

This.  "Just another roll..." I've lost a couple thousand dollars online, whereas I've only lost a couple hundred in a real casino :-/  just stopped rolling that dice altogether now.

For sure there will be some winners if they quit after they are ahead. The truth though is that in the long term everyone loses against a host taking fees on the bets/payouts. I myself like to gamble a lot but hate to have a negative edge, so I decided to invest in the making of a close to perfect place for betting with no fees, where even I can gamble without paying for that. My devs are now testing our innovative site and we will hopefully open after a week.
Check https://bitcointalk.org/index.php?topic=980606.0 (https://bitcointalk.org/index.php?topic=980606.0) for details.

People do tend to run away with your bitcoins so I also prefer not to invest in sites which offer you investment options. The most trusted site till now is just-dice, I guess dooglus returned over 20000BTC when JD closed. Now JD is again open for business with Clams. JD is the only site which I am comfortable in investing.

Bitcoins sometime have the feeling of Casino chips. Easier to throw at something for a gamble then real cash.

It's also way faster to make those bets instead of sitting in Casino and waiting for a dealer or other players. Can lead to some big and fast losses.

Yes the problem I have is that bitcoin is just a number, but I think I wouldn't gamble at all if it was just cahs, since the cash is leaving my hands and not coming back, instead of some number dissapearing on a website.

Internet fun money I believe is the term

Nice subtle advertisement.

And when they lose, they will deposit more to recoup the loss. In the end they will lose more and more.

Exactly.
Just-dice was at one point holding 60000 btc, and Dooglus was able to resist the temptation. :P

That is awesome hat of to the guy really good news for crypto gambling sites well good for anyone who plays at jd, what a legend!!

To answer your question yes of course people have won gambling but have they managed to keep hold of their winnings!? Probably not only a few can resist the temptation and walk away with a profit..

I am down a little but nothing to cry over :)

Must be INSANE! No one knows your real identity and the number of ~16,490,000 usd in a wallet must be so tempting. This guy must have the will of iron

gambling is about loss, lol

but when u have won, its gonna big won

Well no not really. I can win on a 99% bet and win 1%, I still won but not a big win. Very small chance of loss as well. I remember someone bet so much btc on 97% on just-dice and actually lost it all, anything is possible.

I wouldn't gamble if I were you it is not worth it. The system is literally setup so you lose so there is no way that you can win legitimately in the long run.

Can be worth it if you are lucky  ;D there is still good chance of you winning. For example with house edge of 1%, 100 times if you flip a coin, 1 of those will go to the house instead of being absolutely 50 50, meaning maybe a weighted side or getting 51 49. As long as it is provably fair they can't cheat.

Ya really I have made around more then 450$ by gambling with btc in 999dice from which I am happy with me :)
Still progressing littel bit good result then this :)

Not to put down Dooglus. But it may help knowing you would make a lot of people angry. A lot of people with a lot of money. You would have to be looking over your shoulder for the rest of your life. And if you have a family that's even harder to deal with.

Well, for me this saying rings true ---> quite while you are ahead..... {People beat the house edge, and continue gambling and lose everthing again... it's in our nature to be greedy}

If you gambling for the fun, as a type of entertainment.... like other people who go to a movie... you might not worry too much about the loss, because you spent that money on something that killed time.

Some people like the rush they get from winning small amounts.. so for them it is like taking drugs.

What type of gambler are you...? You not going to pension on gambling, if you continue doing it on a daily basis. { I see so many pensioners, sitting in front of gambling slot machines, hoping to WIN that BIG jackpot, and so many of them, never do }  :(

earning through gambling is just a false hope...avoide it as much as u can or it will be result in distruction

gambling on btc is like real life casinos, 1% of gamblers win, 99% casinos win

Or he simply thought that it would be a better idea to earn the respect and trust of a lot of people by not stealing knowing that he would make a lot of money anyways and in the future would be one of the most trusted guys in bitcoin community.

Well $aid bro ! :)
It would be better if this could get in every ones mind :)
...

I think it comes to the bottom line.  Casinos are always going to win if you keep playing.  You might be up some, down some at any given point, but odds are that you are going to lose. 

I think the people that win eventually lose it, they don't talk about it one way or the other you know.  The only way to surely win and beat a casino is once your up, quit and never play again. 

I have never won but I also have not gambled a high amount so it is not the end of the world. I gamble mostly to experiment using small amounts or the faucets on the sites if they have one to see if I can get to a point were I can payout. Although I have lost a little bit a few dollars I consider the entertainment I got from doing it worth the money.

I have done some,but not much, I have played many bits for what I have won

I won in total 2 btc. not that bad

i see that its easy to win bitcoin on gambling. im going to buy some and try it

Wow I am leaving gambling now !! Starting with trading to earn money :)

As if there isn't an element of chance to trading as well 8) Everyone would be doing it and get rich overnight.

lost  100+btc with dice game
 and waste a lot of time

I make money from time to time occasional, overall I lose money but when I am just having some fun I can make a little bit.

Yes but I tend to lose 3x or more what I win.

Which dice game are you talking about? How were you betting ? And in which year were you betting?

@XinXan again, not trying to put him down. Just saying not everyone has an easy time running away with that kind of money. Even if they have the opportunity. But yeah. Slowly building up your reputation will open up a lot of possibilities for you. And make you a lot of money in time.


Bitcoin or not it's gambling. It's not easy to win. It's not supposed to be. But it sure is fun.

The best bet, seems to be, once you win big at a Casino.... move on to the next casino.  :o

If you WIN the house, you would eventually pay it back over time, when you continue playing...... So why not jump from one casino to the next, if you want to continue winning the house.  ???

I do it for the entertainment value, so it's not a big deal for me.  ;D

The alternative would be to use several accounts, for each operation to decrease tracking of winnings and losses. {Some friends of mine, use this with local casino's}

In the end, you will lose, if you continue or WIN big... and that is why they call it gambling.  ;D ;D

I remember once watching a video of some member of Primedice who made 2k bitcoins in one session. If anyone could remember the name, please write it here.

That would be "Hufflepuff" and I believe the video you watched is this https://www.youtube.com/watch?v=lSLXv5Tz1ZY.

Yes. Thanks Coef. This is what amazed me. Another, much smaller rally that I've seen was by a guy named Trolljegerman who left his computer on betting for 2 hours on Moneypot at 2.25x He ended up with a 50 bitcoin gain.

Well with bitcoins might actually be better to gamble because some bitcoin casinos dont have a min bet or a max bet but casinos with money do have a max bet on red/black type of bets so its harder to use, for example, martingale. But with bitcoins if you have a lot you could make some money even using martingale, of course you would have to quit at some point.

I didn't know this about the 50 btc Moneypot guy wow. My luck playing on their site has always been awful  8)

you must play for fun. If you win, is even better.

The problem with playing for fun though, is that to have fun in gambling you have to make a deposit and therefore have the chance to lose money. Fun is much better in other way like video games or sports, because to have fun there you don't have to blow all your money on it.

I have played sometimes on dice sites and its always a fun even though its very hard to win some money against the house edge, I have lost around 0.25 btc if i remember correctly :)

Well house edge is usually around 1 or 2% and therefore if you make all equal bets 100 times you should be winning about 48 or 49 of those bets. So losing 0.25 btc is quite unlucky, but if you had 25 btc then you would be exactly statistically correct in the amount you lost. You probably just deposited 0.25 and just lot it though.

Well your assumptions are really wrong since no one plays like that, no one bets equally all the time. Everyone uses some sort of strategy and any strategy makes you lose more money than betting the same bet over and over

Yes of course but the average payout is 98% so that means the average person will lose 2%, but its usually you win or you lose it all

The calculation is still the same, no matter if you are using some special strategy.
If you wager a total of 100 btc on a 1% edge site, you should expect to lose 1 btc in total on average.

You telling me its the same to use martingale at lets say 0.001 base bet and bet 0.001 bets all the time? 

After 1.000 bets with a 1% house edge with static bets you would lose 10 bets and win 990 so you are loosing 0.01 total, using martingale at 49% would be different, depending on your bankroll of course but for example loosing 10 times in a row with martingale is 0.1% chance wich is 1 in 1.000 so that would mean that every 1.000 bets you would lose 10 times in a row, you would lose 0.85 ~ with martingale at the 10th bet so its not the same

Statistically speaking, it is even worse to play with martingale. As you are going to wager a lot more bitcoin with martingale, the EV is more negative.

With martingale, you will need to play lots of many bets to get your balance growing slowly, and the chance of hitting a long series of losses goes up as you keep playing.

Edit: fixed typo.

Also with martingale you still have the 1% house edge on each of your 2x bets, meaning that sometimes you might hit a losing streak a bit longer than you should have. And yes the longer you go the more the house edge will affect you.

So you are asking about gambling and winning just because you hate gambling and you think it is root of all evil. A rigged game of poor chances where you are always losing? While it is really game of luck most of the time, you can win pretty often. But if you are playing more and more it means you will automatically lose more too. That is the reason for all people complaining about their bad luck or they saying that casino is not honest with their games.

Clearly there are some here who have made money gambling but the law of averages basically rules and since the odds are stacked against the players then it's sure that more of us have lost money than made money.  I don't track my own statistics very closely (since I'm a small stakes player and I just play for fun and distraction) but I tend to think that I've basically broken even.

Gambling always brings loss but sometimes luck makes it profit :)

Also usually most gamblers don't like to call even, we must win back our money. So its usually lost it all or actually won the first bet....

Pretty much sums it up although it is luck and it is also your run a mean how the law of averages will follow you from game to game and what you class as luck is more than likely your averages catching up. Example, we play flip the coin heads or tails i flip you pick heads and 10 times in a row it is tails, we keep going and after say 100 spins it has averaged itself out to roughly 50/50 because we have gave it enough time to. Everything that is provably fair will avarage out in the end but then you take into account the house edge and that is where it creates so many losers everywhere :(

same with me...i even got 10 red streaks on below 2x pay out

but i believe that moneypot is fair tough...only my luck is not good at that time

For each guy that is very unlucky there must be a guy that is very lucky.

gambling is a business lol.

you are there to lose so others can have some wins and the house becomes a broker that wins each small %.

Gambling is about lost, gambling is lost forever.
you can win if you are not greedy enough

Not exactly. This would have been true if there was no house edge.
So for every 100people, there are 49.5 people who are lucky and 50.5 who are unlucky(talking about gambling with 1% house edge).

mateo was able to make a lot of money on Dicebitco.in and then lost it all a few days later. The site was already controversial for skipping winning bets and there was speculation that the whole thing was an inside job - i.e. the mateo account was controlled by Dicebitco.in. A lot of investors lost their money due to mateo and withdrew their investments but those who chose to stay made great profits when he returned and lost it all.



Yup. Nakowa probably holds the record for the most BTC won on a dice site in recent times:


Source: http://www.dailydot.com/news/biggest-bitcoin-win-gambling-history-nakowa/

Me to i have not played it to much though if i am honest but when i have i have lost lol

picolo was right for every guy that is luck there is a guy who is unlucky that is just averages the point of the house having the edge is irrelevant, still for every winner there is a loser excluding the house of course.

op to answer your question yes the have, have they then withdrawn and kept the profit!? Probably not the buz is to much for some people and they end up putting it back a lot of the time  >:(   

Yes , with limited bankroll I bet with a safe, I mean I am betting in sportbooks with small odds, over / under 0.5 goal, or home or draw.
I don't like dice or any other types of gambling.
 

Yes, I have made good money gambling with BTC.
You just have to know when to quit while you are ahead.

Overall, i would say i made about $450ish total gambling.
I've lost big too, but i just started to learn from my mistakes.

BTC is the future.

I won ~35 bitcoin at primedice, but after 2-3 days (I have continued to roll) lost almost 15 bitcoin  :-\. From that day I have withdrawn everything and stopped to gamble, it is not a good way for make money.

Hellyeah, everyday i made money from gambling.
gambling indeed profitable, but risky too.
sometimes big won sometimes heavy lose. money management needed here

Well losing 15 bitcoin is never good lol but at least you left with something the thing is most leave with nothing because they cannot stop and end up putting all they have won back into the said site. I know this from experience lol

Over all op i have won a bit but more than likely i am down as i have lost a bit as well. If i am honest i would not want to know how much i have lost because thet could be depressing but for arguments sake let's say 2btc :(

I  have earned money investing, but I lost some money because I invested in one scam.

Yes, I also lost about 2BTC. The more I play the more I lost but can't help myself. I was able to win some, with a lot of different gambling strategy, but eventually lose all. All gambling sites are rigged. Initially, in every game site, the win:lose ratio is always like 6:4 (they do this to fool you that "yes, this gambling strategy works"). But the more you play, it will become 2:8, 1:9, and 0:10 (So eventually, you lost all of your BTC).

No matter what gambling strategy you used, you always ended up like this. But you will definitely build up more BTC from faucet, than from gambling sites.  

One strategy to avoid this is to set a daily / weekly limit.
No matter how good/bad your luck is, you should not exceed this limit.

Last night i started with 0.2bitcoin and took that up to 1.1bitcoin i ended up leaving with 0.7bitcoin so that was a good night, do i always win money from gambling aha NOPE but i am probably even and i have fun :)

Do others make money from Bitcoin gambling i can safely say sure they do but the main questin is how much do they get back in to wallets they control?

When I speak to other gamblers, I often hear that the real goal is to break even and have fun (not to make money).  Obviously we all want to make money but if we are realistic we can come to terms with the fact that gambling is fun and if you break even then you had fun for free.

You have just killed fun.

Go on then i will bite :) I have made money from gambling on a few occasions but i find it hard to turn them winnings into actual income i mean i hardly ever get it from site A, to my wallet B, it is a shame that i do not have more discipline if i am honest but maybe one day i will learn it in time to walk away with a nice win.

I would at a guess think a lot of different people have made btc gambling but then put most of it back into the site like myself done i do kick myself when i do it for a couple of days but then i just forget in time so i have no way of knowing if i am possibly up i have never deposited btc since my first deposit and i still have more after everything so who knows. 

The only way you can win anything with gambling BTC you need to stop. When people to not stop this is how they lose all of their money.

Or killed heartbreak and disaster.  It depends on luck so who can really say.  Gambling is a dance with a sexy devil who can kill you.  You gotta be careful.  It's like drinking, it's fun in the right times under the right constraints, but if you let it get away you are the one who will suffer.

Or just convert every amount of btc you lost into your own fiat currency and realise how much you lost, you may think again about placing your next bet. Imagine what you could've purchased with the money you lost, thats what gets me to stop

I dont think gambling is good way to earn money but it is fun. I have lost more than won but I am gambling with dust just for fun. Maybee someone made some coins with gambling but sure will lose more if dont collect and stop.

Definitely not a good way to earn money but yes it is fun and VERY addictive. Gambling with dust is kind of fun, its fun seeing how far you can get. I prefer other sources of fun like video games that don't waste your money

The reason why not many people win big money is simple. Most players play low and as a result win dust. Those who get lucky and have a streak keep playing because they want to ride it and also usually end up losing most or all of it. To win you need 3 things: balls to play big, luck and discipline to get out with the money.

Indeed, you're absolutely correct about this, I believe.  However, if you play for fun then your objective might not be to actually win money but just to have a good time and break even.  I really believe this is actually the healthy way to approach gambling.

You can make or lose BTC or not-BTC, it does not depend on currency you play with but on your luck and patience. Personally I managed to make money on BTC gambling, the question is rather about quantity. :)

This seems to echo or sit well with what EvilPanda was saying.  Most folks who do win tend to win small for just the reasons he outlined.

I have to agree with that you gotta have the balls to keep going while on a streak and not think, oh that is good enough but that is also the way to get hooked on it unfortunately because then you get a taste of the big time and want that same win whenever you play, which is where you lose long term obviously chasing. I just cashed out a small 0.05btc a minute ago but rather cash out than do what i described above i must be different because i don't really want that big win to always be looking for that again, slowly wins the race. To answer op very few has made proper money from it and those who do better hope they are playing a legit site where they can actually cash out lol

Probably because most of the time the gambler who we talk to is down, when i am down that is all i want is to break even then walk away sometimes lady luck gives me a second chance.

Most gambling can be fun as long as you play with what you don't mind losing, when you start playing with more than you can afford to lose it can become heartbreaking as you probably know and people have died from it :(

i've lost everything imaginable due to BTC gambling but i do play at sites w/ jackpot so i can get the last laugh

all the bitcoins i have i made the from playing poker
started with freerolls and after collecting some chips started to grind

it's better than faucets  ;D ;D

Hourly freerolls for 50 chips (on the hour) at sealswithclubs were the glory days.  I got a fair amount of my start in BTC that way too.

they are gambling, they can either make a profit or loss, the only difference is that the odds are slightly in their favour

just like my principle, take a risk or get nothing!
so far its work for me  :D

i did, its a long time to gain some money from gambling because im using the safest strategy with lose almost never goes 10% from my balance..

so made profit even its small its a good things.

I have checked my luck with gambling sites but I am not lucky.

For the record last few days managed to get a 600% return on my deposit to a bitcoin sportsbook so yeah it can be done when the fortune is in your favor I guess haha  8)

Very nice indeed  8)

It can always be won as it can always be lost the trick is enjoying it while it lasts as you probably know, get a nice lump out of there and spend it that way you had fun winning and have fun spending.

Nothing worse than going up that amount then putting most of it back into their pockets.

I have done ok this week i am up around 0.4bitcoin but i only ever play with profit from trading so i am always freerolling if i gamble seem to have so much more fun.

This maybe the case but the closer truth is, you have checked gambling sites but have yet to be lucky yet ;)

don't try to earn anything with gambling its just for fun

Yes , its about luck .. I started from 20bucks did 5 5 5 succes all , took 3 - 4 days , i had lot luck , i get to 1800$ from 20 bucks only .
but to bad , theres human additcion that called , I WANT MORE nevermind how much you got .. So i lost them all
but i trying now to get better and make some bitcoins..
Now i got : 0.00017516 , its someone nice donated me

but from those reasons , i learned to i needed to have stop in life and all this gambling , my tought procces was about to make money from it , then i realised its all about luck and fail , and its for fun either , But still 1800$ lost , its not that i lost 1800$ , i lost 20$ , but still hard to believe that i could save them
By the way am sorry for my english , try to understand guys !!

What the hell, 1800$ from 20 bucks is 90x your bet, about 1% chance of doing that. Congrats man, but think about it as only 20$ lost, not 1800$ lost, because you only put in 20$. You should have pulled out at 1800 tho...

yes oc i should pulled out , but its also gave me a lesson to life :)..
thanks for comment man.

Try to get some friends here, bitcoin isn't just about gambling. Some sites have a good chat box. This will help you not be depressed, also remember try to block the 1800 out of your mind, you will only get depressed when you think about it.

Bitcoin is not just about gambling but it seems like almost everyone is gambling, just look at all the posts that are in the gambling section. I guess it has to do with bitcoins being really easy and fast to transfer and to get from faucets since you can bet really low amounts

Bitcoin attracts lots of gamblers because its so easy and there is zero real world information needed. Depositing and withdrawing is as easy as sending an email, and the house edge of bitcoin gambling is also very small. Real world casinos always have much higher house edge.

If i would gift you a million dollars and you would lose it on dice - you would still lose a million dollars, not 0$

If you gift me a million dollars, i double it to 2 million, then lose, I would still have lost out of my pocket 1 million because thats what I started with. Gifting is slightly different but its the same thing as making your own deposit.

I'd say yes and no.  I agree with you guys about the fact that I lost 1 million dollars in this scenario.  However, what if I wasn't allowed to take that money home with me?  (Some sites offer free money but no cash out unless you do a x3 rollover gambling it, eg).  And, even if I can cash it out, there's a real difference between losing my own million dollars and losing a gift.  With my own, I'm now 1million dollars poorer than before I started, with the gift, I'm in the same place as where I started.

Yes but like I said before gifts are slightly different. If someone gave me 1 million dollars first of all I would just take it and not gamble, but if I hit 10x my million but then I lose it, i still only LOST 1 million dollars, whether it was mine or not.

You could also phrase it as "a gift is one million dollars in your pocket and if you lose it you lose a million out of pocket." But if someone gave you money at a casino and told you to gamble it and keep your winnings then it is a little bit different.

Exactly, if someone gives something to do its now your money and YOU made the choice to gamble it. Now that the million is yours, if you lose it you lose a million and not zero because you could have walked away with it right then and there

I am ahead about .35 playing small stakes no hold-em. It's a great way to learn how to play poker but you will see it takes skill and luck. The luck seems to come and go and where most get hurt is you will have a day where it seems you can not lose, then you will play again and get burned by hands that it seems should be winners or you find yourself chasing all because of the last time. You need to learn to mix your play up and you can trap the better players sometimes but once you do take your winning and leave as they will eat you alive.

just earned for 0.2 btc on dice site..

not big but at least im not losing my money for gambling it..try to gain small and the risk not so high

I think people are making a lot of blanket statements about gambling.  Not everyone that gambles regularly has an addiction.  I used to play online poker frequently and do really well.  Now, I play at a brick and mortar casino and am still a profitable player.  I may go 1-2 x a week for 4-5 weeks and then not play for 6 or 8 months.  If you play slots and dice games where the house has and advantage, then you are purely relying on luck.  There is a lot of variance in poker, but in the long run the best players continue to win money.  If your goal is to have fun then find a game that you can afford and try to make the money last.  If you are trying to actually turn a profit then poker is by far the best opportunity.

This is good sounds like you won some of my losses lol

I made 0.6btc from poker then lost 0.3btc on dice in a few spins then i had a go on roulette and lost another 0.15 and now i have walked away to fight another day.

I started with what i have left with but could have left with profit but i am even an more than likely down overall but it has been fun /ish/ :)

You're probably right about this.  Nevertheless, I still think that most people shouldn't be looking into gambling as a way to make a profit.  Instead, use gambling as a way to have fun.  If you make a profit (you might!) then cool.  But if you're gambling money that you need for bills then that's problemantic behavior in my opinion.

I also gamble regularly and sometimes I win sometimes I lose.  I think I"m a little ahead in the long run but in any case, I wouldn't say I'm addicted.  I just play for fun with money that I'm okay with losing.

thats how it goes , first win then loose some, then some , finally from your pocket.

Yeah the bottom line for gambling is that you should only gamble what you can truly afford.  If you are using money allocated for bills to gamble, then you have a problem.  Many people do.  Some people have addictive personalities, so if its not gambling its something else like drugs or alcohol.  

Definitely agree that most people will lose money.  I saw something that said about 85% of poker players lose money.  Except for the top couple percent, no one can really make a living or any serious money doing it.

I personally don't like the ups and downs and the variance associated with poker.  So, I would never be able to play on a regular basis.  But, anyone that tells you that poker is mostly luck doesn't know what they are talking about.  Yes, in the short term there is a lot of luck.  You can flip a coin 10x and 10x it comes up heads.  If you flip the coin enough times it will end up 50-50 like it should.

Also I want to say that in short time you can gain profit, but in long term only loss !!!

I'm not sure if I have because I never get the chance to use them.
I made about BTC2 on dice sites before I lost it all and BTC0.6 more (actually I climbed up from BTC1.4-ish loss).

I have.

I'm not saying I've made enough to buy a house and a new car or anything.....so don't get the wrong impression. LOL

I only play poker really, on various sites. Yes I have made some nice pocket change from it. Yes I have lost some too.

In the past couple weeks I've made about 100 bucks playing poker here and there on some micro tables and $25 GTD's on betcoin.
For example, a couple days ago I took the $25 GTD (.50 cent buyin) for first place and it paid out $15 in btc.

Are you asking because you are unsure of the bitcoin gambling community being legit or not?
If so, you just have to be wise about where you deposit, and do research before you start going to a site.
Most well known legit and trusted bitcoin gaming sites have a good community following from here, to their forums.
IMO I trust betcoin and nitro most and love playing there. I also tool with Bitcasino and their live poker (and sometimes Roulette) its fun!

If you want to try perhaps poker or anything, look for sites that offer freerolls. It allows you to play for free, try their platform out, risking no money - and if you win the freerolls you get to keep the BTC.

Good Luck!