Martingale, A Few Questions

[unholycactus]

Nice, here we go again.. lets guess how many replies will this thread gets

65 pages like the other thread.

[Brewins]

Is martingale just the 2x thing in which we double every bet we lose?
Also, if not, according to you what is the best martingale strategy?
Does martingale really works? Is it useful?

Please share your experience with martingale. You got some story to share?

Martingale can be done in many ways. I usually bet at 20x . And keep betting till I get a loss or 2 in a row. Then just bet an amount around 0.05 . Followed by 20x raise ie. 1 BTC. I have been profitable so far, but a 5th loss can always happen.

Oh that is scary. There are less than 5% chances to win at 20x and you bet a bigger amount at every 1 or 2 losses in a row? This doesn't sound good to me. What is the bankroll you use? I don't have enough bankroll so won't work for me.

https://bitcointalk.org/index.php?topic=610339.0


Short:

If you always double your bet, you will always win your initial bet. If you win.
You have good chance to win little, and small chance to lose big. The loss most likely will be bigger than whatever you won before the loss.
The amount of money you put after each loss will increase exponentially. Your win amount will always stays the same.
Of course you can increase your bet by other amounts, but you'll need to think about each case.


And no, martingale can't defeat the house edge of dice sites

If martingale is a fail, which is a better strategy to use on gambling sites? I know Gambling is a game of luck but still there must be a nice strategy to beat the house

Better strategies only can be thought thinking about the rules of the games. In dices I'm convinced that there is no better strategy.

[grendel25]

All of this is very simple.  The answer is all about the bank roll and all about stopping at a profit point before you hit a losing streak that obliterates your bankroll.  Straight up martingale (2x the bet on loss) is a great way to lose your bankroll very fast--in about 25 seconds or less-- because the exponential factor of 2 is pretty amazing.  it only takes 25 or so losing bets at 50/50 to lose a very sizable bankroll and losing streaks like that aren't uncommon. 

Just remember, every single roll is a new roll with a 50% chance to LOSE.  that's a pretty big gamble every time you risk a piece or all of your bank roll.  If someone said there was a 50% chance of dying in a car crash... well there would be a lot less cars on the road.

[hunkey600]

If you want to lose go for martingale definitely unless  you are smart enough to stop at the right time or even there is a possibility will you never see the right time before your bankroll is taken away. That is why every dice site has Auto-Bet so you can come and lose your money. Thanks

[romano1]

Is martingale just the 2x thing in which we double every bet we lose?
Also, if not, according to you what is the best martingale strategy?
Does martingale really works? Is it useful?

Please share your experience with martingale. You got some story to share?

Thanks

Martingale in my opinion is any such strategy which when repeated gives you initial bet profit on winning. Best strategy I used at DaDice is that play at 90% win chance and everytime you loose make it 11x amount. This strategy gave me more than expected profit in a week or two.

[Phildo]

Is martingale just the 2x thing in which we double every bet we lose?
Also, if not, according to you what is the best martingale strategy?
Does martingale really works? Is it useful?

Please share your experience with martingale. You got some story to share?

Martingale can be done in many ways. I usually bet at 20x . And keep betting till I get a loss or 2 in a row. Then just bet an amount around 0.05 . Followed by 20x raise ie. 1 BTC. I have been profitable so far, but a 5th loss can always happen.

Oh that is scary. There are less than 5% chances to win at 20x and you bet a bigger amount at every 1 or 2 losses in a row? This doesn't sound good to me. What is the bankroll you use? I don't have enough bankroll so won't work for me.

https://bitcointalk.org/index.php?topic=610339.0


Short:

If you always double your bet, you will always win your initial bet. If you win.
You have good chance to win little, and small chance to lose big. The loss most likely will be bigger than whatever you won before the loss.
The amount of money you put after each loss will increase exponentially. Your win amount will always stays the same.
Of course you can increase your bet by other amounts, but you'll need to think about each case.


And no, martingale can't defeat the house edge of dice sites

If martingale is a fail, which is a better strategy to use on gambling sites? I know Gambling is a game of luck but still there must be a nice strategy to beat the house

If there was a nice strategy to beat the house the house would be beaten.

[Pursuer]

Nice, here we go again.. lets guess how many replies will this thread gets

65 pages like the other thread.

this shows that how desperately people are looking for a "strategy" to win. also this means that everyone is losing and they are losing big time.
and martingale is a famous method but a guaranteed losing method for that matter.

[Habeler876]

Is martingale just the 2x thing in which we double every bet we lose?
Also, if not, according to you what is the best martingale strategy?
Does martingale really works? Is it useful?

Please share your experience with martingale. You got some story to share?

Thanks

Martingale can be fun for a gamble if you are willing to get in/get out, and not keep pushing your luck. You don't have an endless bankroll -- that's the only way it could ever work. So martingale always loses at the end of the day.

[iram91445]

Is martingale just the 2x thing in which we double every bet we lose?
Also, if not, according to you what is the best martingale strategy?
Does martingale really works? Is it useful?

Please share your experience with martingale. You got some story to share?

Martingale can be done in many ways. I usually bet at 20x . And keep betting till I get a loss or 2 in a row. Then just bet an amount around 0.05 . Followed by 20x raise ie. 1 BTC. I have been profitable so far, but a 5th loss can always happen.

Oh that is scary. There are less than 5% chances to win at 20x and you bet a bigger amount at every 1 or 2 losses in a row? This doesn't sound good to me. What is the bankroll you use? I don't have enough bankroll so won't work for me.

https://bitcointalk.org/index.php?topic=610339.0


Short:

If you always double your bet, you will always win your initial bet. If you win.
You have good chance to win little, and small chance to lose big. The loss most likely will be bigger than whatever you won before the loss.
The amount of money you put after each loss will increase exponentially. Your win amount will always stays the same.
Of course you can increase your bet by other amounts, but you'll need to think about each case.


And no, martingale can't defeat the house edge of dice sites

If martingale is a fail, which is a better strategy to use on gambling sites? I know Gambling is a game of luck but still there must be a nice strategy to beat the house

If there was a nice strategy to beat the house the house would be beaten.

well people can always come up with something new, if theres still no strategy, it doesnt mean there wont be one in future

[PryptoMontreal]

Is martingale just the 2x thing in which we double every bet we lose?
Also, if not, according to you what is the best martingale strategy?
Does martingale really works? Is it useful?

Please share your experience with martingale. You got some story to share?

Thanks

Martingale can be fun for a gamble if you are willing to get in/get out, and not keep pushing your luck. You don't have an endless bankroll -- that's the only way it could ever work. So martingale always loses at the end of the day.

You know snmp? That's same what happened with him. He had big bankroll( >100 BTC) and was martingaling starting at 0.01 or more at 2x
He kept on winning for 2-3 months and made some serious profits ( >300-400 BTC )
But finally couple of days back he met a looooong lose streak and lost all his balance

[Phildo]

Is martingale just the 2x thing in which we double every bet we lose?
Also, if not, according to you what is the best martingale strategy?
Does martingale really works? Is it useful?

Please share your experience with martingale. You got some story to share?

Martingale can be done in many ways. I usually bet at 20x . And keep betting till I get a loss or 2 in a row. Then just bet an amount around 0.05 . Followed by 20x raise ie. 1 BTC. I have been profitable so far, but a 5th loss can always happen.

Oh that is scary. There are less than 5% chances to win at 20x and you bet a bigger amount at every 1 or 2 losses in a row? This doesn't sound good to me. What is the bankroll you use? I don't have enough bankroll so won't work for me.

https://bitcointalk.org/index.php?topic=610339.0


Short:

If you always double your bet, you will always win your initial bet. If you win.
You have good chance to win little, and small chance to lose big. The loss most likely will be bigger than whatever you won before the loss.
The amount of money you put after each loss will increase exponentially. Your win amount will always stays the same.
Of course you can increase your bet by other amounts, but you'll need to think about each case.


And no, martingale can't defeat the house edge of dice sites

If martingale is a fail, which is a better strategy to use on gambling sites? I know Gambling is a game of luck but still there must be a nice strategy to beat the house

If there was a nice strategy to beat the house the house would be beaten.

well people can always come up with something new, if theres still no strategy, it doesnt mean there wont be one in future

Math says that there's no strategy to dice because there is no skill or decision making involved. If you win 50% of the time and get paid less than 2x your bet, and wins/losses are determined by luck, you will lose in the long run.

You can come up with a strategy in poker because you can get into situations where you will have a +ev. You can come up with a strategy in blackjack because certain decisions/situations can have a positive expectation if you know what cards remain in the shoe. Shit, people will figure out an actual correct way to section bet on roulette or control the dice in craps before they figure out a way to beat random chance with -ev bets.

[Habeler876]

Is martingale just the 2x thing in which we double every bet we lose?
Also, if not, according to you what is the best martingale strategy?
Does martingale really works? Is it useful?

Please share your experience with martingale. You got some story to share?

Thanks

Martingale can be fun for a gamble if you are willing to get in/get out, and not keep pushing your luck. You don't have an endless bankroll -- that's the only way it could ever work. So martingale always loses at the end of the day.

You know snmp? That's same what happened with him. He had big bankroll( >100 BTC) and was martingaling starting at 0.01 or more at 2x
He kept on winning for 2-3 months and made some serious profits ( >300-400 BTC )
But finally couple of days back he met a looooong lose streak and lost all his balance

That's why IMO, one should know that it is a gamble going in, and take profits and run, when they are ahead. Nothing better than continuing to gamble *only* with profits made. Even the biggest of bankrolls will statistically fail with martingale.

[PryptoMontreal]

Is martingale just the 2x thing in which we double every bet we lose?
Also, if not, according to you what is the best martingale strategy?
Does martingale really works? Is it useful?

Please share your experience with martingale. You got some story to share?

Thanks

Martingale can be fun for a gamble if you are willing to get in/get out, and not keep pushing your luck. You don't have an endless bankroll -- that's the only way it could ever work. So martingale always loses at the end of the day.

You know snmp? That's same what happened with him. He had big bankroll( >100 BTC) and was martingaling starting at 0.01 or more at 2x
He kept on winning for 2-3 months and made some serious profits ( >300-400 BTC )
But finally couple of days back he met a looooong lose streak and lost all his balance

That's why IMO, one should know that it is a gamble going in, and take profits and run, when they are ahead. Nothing better than continuing to gamble *only* with profits made. Even the biggest of bankrolls will statistically fail with martingale.

The toughest and the most essential part of gambling is certainly " Knowing when to stop and move away with the proofs " and this is the part which most of the gamblers lack with.