This Is How You Can Earn Bitcoins From Dice Games

[hambalan]

A analytical table speaks louder:

https://imageshack.us/a/img515/9012/64n.png

Example shown in post #1 has an odd of 1/1329 (just slightly more than 10 consecutive results at 50%)

Runs of 14 or 15 in a 50% game is very common, equate to around 36 runs at 4x multiplier & doubling your bets every time you loose (last bet would be BTC343 and requires a bankroll of BTC687).

See for yourself why this is a sure receipt for bankruptcy.

[dexX7]

Isn't profitable long term, but could be fun, because there is much volatility and it takes some time.

Does Just-Dice provide a high frequency betting interface I didn't notice?

Any thoughts about a good exit-strategy?

After losing 582 simulated Bitcoin, the average number of bets was 156,764, the average longest bet run 27.24 and the average highest balance 6.26276818. The highest reached balance was 481.1572913...  

My ruleset:

Code:

Chance to win = 0.3
Payout = 3

Initial Balance = 1.00000000
Initial Betsize = 0.00000001

If Balance < Initial Betsize:
  Stop it, you're broke..

If Last Bet = Won:
  Next Betsize = Max(Initial Betsize, Initial Betsize * Balance)

If Last Bet = Lost:
  Next Betsize = Min(Balance, Betsize * 2)

[haasBB8]

First and most important you NEED a dice game offering Satoshi or smaller bet size. Yes some sites offer smaller than Satoshi bets such as http://primedice.com/index.php?aff=70FDF79abe83 which has no minimum bet <- Yes that is an affiliate link use it or don't it's up to you. http://Just-Dice.com is another great site with Satoshi size bets (featured below). Both Prime and Just can be trusted 100%. Deposit and withdrawal is flawless, both sites work without any issues, and neither is lacking in the design department.

I had originally planned on building BTC 0.3 to BTC1 but as you'll see later I decided to shift into hyper drive with 4x bet multiplier which honestly isn't safe to bet with under BTC2. However I recommend 2.5-3x as a safer bet since it is the best option for anyone with less than a 2 bitcoin balance. 3x earns a little bit slower but you wont get insane amounts of losses in a row either.

The theory behind this system is you want to lose. Yes I know it sounds insane! It'll all become clear soon. Combining 3x multiplier with the famous Martingale betting system allows you be rewarded the more times you lose the more you will win.

Here's an example Bucky bets 10 loss bets 20 loss bets 40 loss bets 80 win  1/3 of the win covers the original bet 1/3 of the win covers all the previous bets and 1/3 is added to Bucky's balance. This is much better than betting 2x multiplier since every martingale level/loss only returns 1 betting unit to the player. If your going to risk the money might as well get paid for it right?

Where most martingale systems fail this one shines. Roulette is a classic example of a true martingale game. Red/black odd/even ect all classic martingale bets with roughly 50% odds. The problem is most people don't carry around $50,000 to cover the larger losing streaks. With Bitcoin and Satoshi size beting we can avoid going bust by betting the smallest number in hopes of a long losing streak of 10-20 (3x example more with 4x) which will earn anywhere from BTC0.001 to .1. The point is odds are in our favor 30 losses in a row will not happen on a 33% bet (again 3x example). We use these odds to play the system in reverse. The result is a lot of small somewhat insignificant wins and a few really large ones. Then we run with the money while we still have it.

This is how the night started

http://i1083.photobucket.com/albums/j382/johnny2pips/JustDice_1_zps413cd1a4.png

The idea was to start with a vary small balance and build up to a bitcoin. Instead (as you'll see below) I decided to deposit BTC1.8 ultimately risking more to make more. The idea is the same no matter what the starting balance is from BTC0.01-100.

http://i1083.photobucket.com/albums/j382/johnny2pips/Earn_Bitcoins_Part_2_zpsdd278457.png

Couple of notes.
1. I actually started with 2 then bet 2 again. This was an accident. The bet should have started with 1 then 2 ect.
2. Totally skipped number 4 when numbering note bubbles.... Doh!


This last photo is to prove I really did start with BTC1.8.

http://i1083.photobucket.com/albums/j382/johnny2pips/Earn_Bitcoins_Part_3_zps3e7f630b.png


A good portion of total bets were from when the balance was BTC0.3. So don't think it'll take 9,000 bets to make 3 bitcoins. Most of this money was made in the last 2-3000 bets. At 20-40 bets a minute it adds up fast.



Good Luck and Good Betting,
PokerBro

Edit: Working on another example

http://i1083.photobucket.com/albums/j382/johnny2pips/PrimeDice1_zpsbd5f64eb.png

Update Profit 10 bitcoins

http://i1083.photobucket.com/albums/j382/johnny2pips/PrimDicex2_zps51529e6c.png

Caution do NOT get greedy. These betting websites are setup to take your money not give you theirs.

Wow that is cool

[hambalan]

Isn't profitable long term, but could be fun, because there is much volatility and it takes some time.

Does Just-Dice provide a high frequency betting interface I didn't notice?

Any thoughts about a good exit-strategy?

After losing 582 simulated Bitcoin, the average number of bets was 156,764, the average longest bet run 27.24 and the average highest balance 6.26276818. The highest reached balance was 481.1572913...  

My ruleset:

Code:

Chance to win = 0.3
Payout = 3

Initial Balance = 1.00000000
Initial Betsize = 0.00000001

If Balance < Initial Betsize:
  Stop it, you're broke..

If Last Bet = Won:
  Next Betsize = Max(Initial Betsize, Initial Betsize * Balance)

If Last Bet = Lost:
  Next Betsize = Min(Balance, Betsize * 2)

I presume your "longest bet run" means longest sequence of consecutive loses. If so, I am a little bit concerned that out of all your attempts, your longest bet run is either 27 or 28. Seems a bit strange that regardless of balance at any point in time, it should remain more or less static.

[Damnsammit]

Can you reapply that for a Martingale method that is unconventional?  This allows for 44 bets at 3:1 odds before reaching a total of 1BTC, but the catch is that you never win more than 3 satoshis.  It would take forever for this to add up to something meaningful, but I would be curious how many bets it takes for it to fail.  Sometimes i do this on Roulette when bored at work (betting on the middle third for easy clickability) and it hasn't failed yet.

I fail 100% of the time when trying to do traditional Martingale (doubling the bet) on 3:1, but I usually only allow myself 12 failures in a row because I am not interested in satoshi betting. I usually start at 200 satoshis.

Bet is staggered until 14 satoshi because you can't go up by a 1.5 multiplier until then.

Bet                Win                 Total Bet   Profit
0.00000001   0.00000003   0.00000001   0.00000002
0.00000002   0.00000006   0.00000003   0.00000003
0.00000003   0.00000009   0.00000006   0.00000003
0.00000004   0.00000012   0.00000010   0.00000002
0.00000006   0.00000018   0.00000016   0.00000002
0.00000009   0.00000027   0.00000025   0.00000002
0.00000014   0.00000042   0.00000039   0.00000003
0.00000021   0.00000063   0.00000060   0.00000003
0.00000032   0.00000095   0.00000092   0.00000003
0.00000047   0.00000142   0.00000139   0.00000003
0.00000071   0.00000213   0.00000210   0.00000003
0.00000106   0.00000319   0.00000316   0.00000003
0.00000159   0.00000478   0.00000475   0.00000003
0.00000239   0.00000718   0.00000715   0.00000003
0.00000359   0.00001076   0.00001073   0.00000003
0.00000538   0.00001615   0.00001612   0.00000003
0.00000807   0.00002422   0.00002419   0.00000003
0.00001211   0.00003633   0.00003630   0.00000003
0.00001816   0.00005449   0.00005446   0.00000003
0.00002725   0.00008174   0.00008171   0.00000003
0.00004087   0.00012261   0.00012258   0.00000003
0.00006131   0.00018392   0.00018389   0.00000003
0.00009196   0.00027587   0.00027584   0.00000003
0.00013794   0.00041381   0.00041378   0.00000003
0.00020690   0.00062071   0.00062068   0.00000003
0.00031036   0.00093107   0.00093104   0.00000003
0.00046554   0.00139661   0.00139658   0.00000003
0.00069830   0.00209491   0.00209488   0.00000003
0.00104746   0.00314237   0.00314234   0.00000003
0.00157118   0.00471355   0.00471352   0.00000003
0.00235678   0.00707033   0.00707030   0.00000003
0.00353516   0.01060549   0.01060546   0.00000003
0.00530275   0.01590824   0.01590821   0.00000003
0.00795412   0.02386235   0.02386232   0.00000003
0.01193118   0.03579353   0.03579350   0.00000003
0.01789677   0.05369030   0.05369027   0.00000003
0.02684515   0.08053544   0.08053541   0.00000003
0.04026772   0.12080317   0.12080314   0.00000003
0.06040158   0.18120475   0.18120472   0.00000003
0.09060238   0.27180713   0.27180710   0.00000003
0.13590356   0.40771069   0.40771066   0.00000003
0.20385534   0.61156603   0.61156600   0.00000003
0.30578302   0.91734905   0.91734902   0.00000003
0.45867453   1.37602358   1.37602355   0.00000003

[dooglus]

What is interesting with just-dice though is the user contributed bankroll. Right now the "max profit" is 1% of the bankroll, but in the beginning it was 100%. This means that back then you could actually martingale because each time you lose, the bank gains that much, essentially making the bank have unlimited bankroll.

Except that it would be crazy to risk 100% of the bankroll...  Just-Dice has never risked any more than 1% of bankroll per roll.

[payme4work24]

no you will lose trust me

[Jgguy]

The method the op is describing has the bet doubled after each loss, even though the payout is 3x. The eventual win will pay back more than the total bet.  However, it also means the bet will increase faster which leads to an increased risk of going bust.

[payme4work24]

Dice games will scam you

[greyhawk]

Wow that is cool

And this is why you people continue to stay poors.

[Damnsammit]

The method the op is describing has the bet doubled after each loss, even though the payout is 3x. The eventual win will pay back more than the total bet.  However, it also means the bet will increase faster which leads to an increased risk of going bust.

Right, but it is still a fun way to gamble. 

Just a disclaimer for anyone who is going to try this:

YOU CAN NOT BEAT THE HOUSE.  EVER.  YOU WILL ALWAYS LOSE.

[dirty dog]

Hi BitCoinPokerBro I see you put a lot of effort into your post and have given your system a lot of thought, I hope you have made some BTC in the process, however I do implore you to stop a moment. Please go to http://satoshidicebreaker.appspot.com/;jsessionid=DBGnIunHFWELQLyqyMTjfQ?0 and give the simulation a try, it. Yes I know the odds are different too yours, but the principal is the same, using the simulation, and using a 4.5 multiplier I turned 10BTC into over 200 BTC before disaster. struck, and repeat attempts, disaster always strikes, its just a matter of how long.
I would be most interested in feedback from anyone after they have tried the simulation.
If you find this post has potentially saved you BTC you may want care to donate to me on   1Pp9vPSc5isoknrryxJXtX1dN3sEA6Xkvw

[infested999]

OP is the biggest idiot.

Everybody in this thread can't stop quoting that huge original post.

[joele]

Can you reapply that for a Martingale method that is unconventional?  This allows for 44 bets at 3:1 odds before reaching a total of 1BTC, but the catch is that you never win more than 3 satoshis.  It would take forever for this to add up to something meaningful, but I would be curious how many bets it takes for it to fail.  Sometimes i do this on Roulette when bored at work (betting on the middle third for easy clickability) and it hasn't failed yet.

I fail 100% of the time when trying to do traditional Martingale (doubling the bet) on 3:1, but I usually only allow myself 12 failures in a row because I am not interested in satoshi betting. I usually start at 200 satoshis.

Bet is staggered until 14 satoshi because you can't go up by a 1.5 multiplier until then.

Bet                Win                 Total Bet   Profit
0.00000001   0.00000003   0.00000001   0.00000002
0.00000002   0.00000006   0.00000003   0.00000003
0.00000003   0.00000009   0.00000006   0.00000003
0.00000004   0.00000012   0.00000010   0.00000002
0.00000006   0.00000018   0.00000016   0.00000002
0.00000009   0.00000027   0.00000025   0.00000002
0.00000014   0.00000042   0.00000039   0.00000003
0.00000021   0.00000063   0.00000060   0.00000003
0.00000032   0.00000095   0.00000092   0.00000003
0.00000047   0.00000142   0.00000139   0.00000003
0.00000071   0.00000213   0.00000210   0.00000003
0.00000106   0.00000319   0.00000316   0.00000003
0.00000159   0.00000478   0.00000475   0.00000003
0.00000239   0.00000718   0.00000715   0.00000003
0.00000359   0.00001076   0.00001073   0.00000003
0.00000538   0.00001615   0.00001612   0.00000003
0.00000807   0.00002422   0.00002419   0.00000003
0.00001211   0.00003633   0.00003630   0.00000003
0.00001816   0.00005449   0.00005446   0.00000003
0.00002725   0.00008174   0.00008171   0.00000003
0.00004087   0.00012261   0.00012258   0.00000003
0.00006131   0.00018392   0.00018389   0.00000003
0.00009196   0.00027587   0.00027584   0.00000003
0.00013794   0.00041381   0.00041378   0.00000003
0.00020690   0.00062071   0.00062068   0.00000003
0.00031036   0.00093107   0.00093104   0.00000003
0.00046554   0.00139661   0.00139658   0.00000003
0.00069830   0.00209491   0.00209488   0.00000003
0.00104746   0.00314237   0.00314234   0.00000003
0.00157118   0.00471355   0.00471352   0.00000003
0.00235678   0.00707033   0.00707030   0.00000003
0.00353516   0.01060549   0.01060546   0.00000003
0.00530275   0.01590824   0.01590821   0.00000003
0.00795412   0.02386235   0.02386232   0.00000003
0.01193118   0.03579353   0.03579350   0.00000003
0.01789677   0.05369030   0.05369027   0.00000003
0.02684515   0.08053544   0.08053541   0.00000003
0.04026772   0.12080317   0.12080314   0.00000003
0.06040158   0.18120475   0.18120472   0.00000003
0.09060238   0.27180713   0.27180710   0.00000003
0.13590356   0.40771069   0.40771066   0.00000003
0.20385534   0.61156603   0.61156600   0.00000003
0.30578302   0.91734905   0.91734902   0.00000003
0.45867453   1.37602358   1.37602355   0.00000003

Probably it won't fail in a year. 
If a bot has multiple bets simultaneously and it average 1 win a second, total winnings in one year is only 0.94608 btc, not enough to pay the electric bill. This kind of martingale is a failure too.

[Damnsammit]

Probably it won't fail in a year. 
If a bot has multiple bets simultaneously and it average 1 win a second, total winnings in one year is only 0.94608 btc, not enough to pay the electric bill. This kind of martingale is a failure too.

But if you had the bankroll to bet 1000x that much with a win of 0.00003 BTC each time, then that would go out to 946.08 BTC a year. 

Still, though, if you have a 1000BTC bankroll, I think there are better options for gambling/investing than a silly Martingale betting method

[dexX7]

I presume your "longest bet run" means longest sequence of consecutive loses. If so, I am a little bit concerned that out of all your attempts, your longest bet run is either 27 or 28. Seems a bit strange that regardless of balance at any point in time, it should remain more or less static.

Not sure if I got the question right.

The "longest bet run" is indeed the longest losing streak.

It is not a fixed number because of rounding issues, I guess.

It is almost a fixed number, because I adjusted betsize to Max(Initial Betsize, Initial Betsize * Balance).

Think of it that way:

Balance = 10, smallest possible balance = 1, halfes every loss:

Code:

Balance = 10,
Balance = 5,
Balance = 2.5,
Balance = 1.5,
Loss

The longest possible losing streak in this case is guaranteed less than 5. My bet scheme behaves in the same way, because of the betsize adjustment. To be honest, I realized this "fact" the first time after reading your post.

[dooglus]

no you will lose trust me

The house edge in most dice games is 1%.  It's possible to win in the short term.

Dice games will scam you

That's unlikely.  Just-Dice.com absolutely won't scam you.  It will offer you 1% less than true odds on every roll.  If that's a scam then they scam you, but other than that it's provably fair.

Last night while I was sleeping someone won over 2700 BTC on Just-Dice, taking the house profit from over 2000 BTC to under -700 BTC.  That's a profit for the player of over $250,000 in just a few hours of play.

Now tell me that the site's a scam!  The winning player was able to withdraw his winnings just as soon as I was grabbed them from the secure offline Bitcoin wallet.

[Propagandalf]

So, it has been two years since the last post in here... During this time, has anyone developed a decent gambling strategy for .01 - 1.0 BTC bankrolls yet? And yes, I know we always lose in the end and the house always wins etc. lol, but it doesn't hurt to ask. I like the occational gamble, and it is fun to discuss strategies!

[Mickeyb]

So, it has been two years since the last post in here... During this time, has anyone developed a decent gambling strategy for .01 - 1.0 BTC bankrolls yet? And yes, I know we always lose in the end and the house always wins etc. lol, but it doesn't hurt to ask. I like the occational gamble, and it is fun to discuss strategies!

I see that you have made alive an old thread so let me crush your dreams.

I don't that this has happened and I don't think that will ever happen. There are no strategies. In the long run, casino will always win. It has been like that since forever. In the short run, or by a crazy luck, yes you can win and this is exactly what all gamblers are chasing, this string of crazy luck.

I don't think I am that lucky just like I don't think that I am that unlucky that the plane I board will crash. That's why I stay away from gambling.

[Ginguin]

So, it has been two years since the last post in here... During this time, has anyone developed a decent gambling strategy for .01 - 1.0 BTC bankrolls yet? And yes, I know we always lose in the end and the house always wins etc. lol, but it doesn't hurt to ask. I like the occational gamble, and it is fun to discuss strategies!

I see that you have made alive an old thread so let me crush your dreams.

I don't that this has happened and I don't think that will ever happen. There are no strategies. In the long run, casino will always win. It has been like that since forever. In the short run, or by a crazy luck, yes you can win and this is exactly what all gamblers are chasing, this string of crazy luck.

I don't think I am that lucky just like I don't think that I am that unlucky that the plane I board will crash. That's why I stay away from gambling.

Everytime I see one of these betting system ideas I love to get out my spreadsheets and play around with the numbers. You can do quite well at times, but if you don't stop at those times, you will have a bad time.