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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!
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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.
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? Go ahead. I would love to see magicmexican lose his money. |
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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.
No, you dont. Anyone want to side bet on how long it will take for OP to get broke in his journey? 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. |
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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.
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. 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. |
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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 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. 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. Ok, will do! I'll try to add some notes with each session report. |
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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. 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. 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. 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. 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. |
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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!
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. Hey, thanks for your interest in following my journey! Here is the wallet address with my 0.4 BTC bankroll: https://blockchain.info/address/1Q247kQux52qBLBX4tVXFbX344RyevhmhBYou can track all the transactions on there. I'll start working on a Google doc now. That's a really good idea. |
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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 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. |
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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! |
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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. |
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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! |
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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!
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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! |
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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! |
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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.
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". That's definitely not what I'm saying, but you're welcome to believe that. |
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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.
How can is it protip ? If you play once & play big, then you lose, what will you do ? Stop gambling / continue ? The best way to earn money from gambling is become the owner / investor for bankroll 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.. Go ahead and keep watching me, we'll see how I do. Thanks! |
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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!
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. 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! 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-fairI'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. |
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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.
This whole journey is about not being greedy and knowing when to stop. Thanks for your support, I really appreciate it! |
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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. |
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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!
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. 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! |
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