When you are gambling at any site such as say Dice, there is always a house edge but its not the house edge that makes most people go bust. Sure if you take enough rolls its always against you in the long run. The reason why people lose all their money is because they usually try and martingale their strategy.
Martingaling is when you double your bet on a lose, its a great system because if you are playing a game such as "Head or Tails". When you get heads, chances are the next flip will be Tails, correct. Hence if you lose 5 times in a row, chances are the next roll will be a winner. So people do this and what gets them is that eventually they run into +10 losses and they no longer have the account balance to keep betting. And the reason why this happens is due to statistics and probability. I think I had like 12 losses in a row which cleaned me out maybe a few months after I started with dice. It can happen sooner or later but it always will. Sometimes you get lucky enough to double your account this way but for most people they end up losing their balance. This is how gambling works.
True, I guess it's a matter of having a big enough balance and being okay with small enough wins per bet to lower the risk as much as possible.
This strategy is what I'm using now and I've seen up to 16 consecutive losses, but fortunately, that was still okay for me. However, every roll gives you a 52.5% chance of losing (for odds 2, which makes most sense with this strategy). Having lost 10 rolls gives you no extra security that the next one will be won...
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