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Author Topic: FreeBitco.in - Contest with $30,000 in GUARANTEED PRIZES now live!  (Read 299112 times)
TheQuin
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January 31, 2019, 09:12:42 AM
 #8001

When people come to crypto casinos and see min bet of 1 sat and max win of 20 BTC they think they will have to be very unlucky to lose. But the real question is do you really want to risk 20 BTC to win one Satoshi at a time?

Well, I'm not sure everyone runs martingale this way (or just anyone)

I mean by simply offsetting the losses incurred in previous bets (i.e. if you win, you win only 1 satoshi no matter what the bet amount is). From my perspective, this will be the stupidest way of using martingale. When I used this technique myself, I always set the odds in such a way that at each roll with bet doubled (apart from the very first one, of course) I was covering the accumulated loss in full and won as much at that (provided I won, naturally)

I was giving the example of the most extreme usage possible (I should have said risk 40BTC as that how much you would need for a 20BTC max bet).

2x double on loss is what I would refer to as Martingale. Other progressive systems I would call modified Martingale. (That's just my personal terminology and not something I'm interested in debating).

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January 31, 2019, 09:19:29 AM
 #8002

Martingale can be a viable approach only in one case

That is, when your financial muscle is greater than a casino's and the casino doesn't have a limit on max bet that you can wager. But it is still rather a theoretical case because you just won't be able to bet when the stake becomes greater than the casino's bankroll. So even in this case you are set to lose in practice. Obviously, real-life casinos have max bet limits set in place, for example, FreeBitco.in has it at 20 BTC

Even in that case, it throws up another question you have to answer before doing it. Fiat casinos tend to have a smaller difference between the minimum and maximum bets (or table limits in bricks and mortar casinos). That severely limits the possibilities to martingale to a small number of consecutive losses. When people come to crypto casinos and see min bet of 1 sat and max win of 20 BTC they think they will have to be very unlucky to lose. But the real question is do you really want to risk 20 BTC to win one Satoshi at a time? It could happen the very first series of bets you try it. What Martingale does allow you to do is bet at lower odds than the minimum multiplier. With the right bankroll and base bet, you can bet on outcomes that have much less chance of busting than a 1.01x bet.

Exactly, I've seen this pointed out in other threads where people share min and max bet tables. This is also visible online even in digital fiat casinos, where you even have low-stakes, medium stakes and high stakes tables... All these tables, you will notice, the time it takes for the min bet to reach max bet on simple 2x martingale is very very seldom more than 10-streaks.

Roulette is probably the easiest demo of this, you want to bet a simple 50% chance to win, min bet is usually 1 and max bet is 500. You can't even reach 10-streaks which needs 512.

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January 31, 2019, 10:53:47 AM
 #8003

Martingale can be a viable approach only in one case

That is, when your financial muscle is greater than a casino's and the casino doesn't have a limit on max bet that you can wager. But it is still rather a theoretical case because you just won't be able to bet when the stake becomes greater than the casino's bankroll. So even in this case you are set to lose in practice. Obviously, real-life casinos have max bet limits set in place, for example, FreeBitco.in has it at 20 BTC

Even in that case, it throws up another question you have to answer before doing it. Fiat casinos tend to have a smaller difference between the minimum and maximum bets (or table limits in bricks and mortar casinos). That severely limits the possibilities to martingale to a small number of consecutive losses. When people come to crypto casinos and see min bet of 1 sat and max win of 20 BTC they think they will have to be very unlucky to lose. But the real question is do you really want to risk 20 BTC to win one Satoshi at a time? It could happen the very first series of bets you try it. What Martingale does allow you to do is bet at lower odds than the minimum multiplier. With the right bankroll and base bet, you can bet on outcomes that have much less chance of busting than a 1.01x bet.

Exactly, I've seen this pointed out in other threads where people share min and max bet tables. This is also visible online even in digital fiat casinos, where you even have low-stakes, medium stakes and high stakes tables... All these tables, you will notice, the time it takes for the min bet to reach max bet on simple 2x martingale is very very seldom more than 10-streaks

That's one of the reasons why Dogecoin is so popular among gamblers

You see, it is very cheap with the price of 1 doge at around 55 satoshi at the moment, which is less than 1 cent. And most casinos allow the minimum bet amount of 1 doge (or even less than that). In this way, Dogecoin allows the longest sequences of bets for martingale, and that likely explains why it is used widely for gambling (apart from its transactions also being cheap and fast)

2x double on loss is what I would refer to as Martingale. Other progressive systems I would call modified Martingale. (That's just my personal terminology and not something I'm interested in debating).

With 2x double on loss you can still use different bet odds

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TheQuin
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January 31, 2019, 10:58:18 AM
 #8004

2x double on loss is what I would refer to as Martingale. Other progressive systems I would call modified Martingale. (That's just my personal terminology and not something I'm interested in debating).

With 2x double on loss you can still use different bet odds

2x is the bet odds. Using different bet odds is a modification of the original Martingale strategy, hence me calling it modified Martingale.

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January 31, 2019, 12:11:10 PM
 #8005

2x is the bet odds. Using different bet odds is a modification of the original Martingale strategy, hence me calling it modified Martingale.

It doesn't look different on me Tongue even if its modified its still the same strategy.
Anyways, Does anyone know here another strategy on playing this game Smiley I would love to hear it.



Same, few weeks ago i've lost all of my balance but i'm not that upset about losing since all of it came from their faucet.

Mate, it's still money to me, even if it came from their faucet, the moment that I get a hold of it, it's already mine, And that's making me feel down, after winning that sats withing 3days, it will be gone in just a minutes Tongue

I just hope that thing has an UNDO button Cheesy (Which can only be used three times a day )

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TheQuin
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January 31, 2019, 12:21:54 PM
 #8006

2x is the bet odds. Using different bet odds is a modification of the original Martingale strategy, hence me calling it modified Martingale.

It doesn't look different on me Tongue even if its modified its still the same strategy.
Anyways, Does anyone know here another strategy on playing this game Smiley I would love to hear it.

There are lots of strategies. Remember gambling is for fun and entertainment. Lots of people get enjoyment from trying to improve existing strategies and inventing new ones. If anyone had ever been successful in producing a winning strategy then casinos would have ceased to exist.
If you are interested in playing around with it I would recommend starting off with Seuntjie's DiceBot. It has inbuilt strategies and many more on the website for the programmer mode.

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January 31, 2019, 12:28:29 PM
 #8007

~

That's one of the reasons why Dogecoin is so popular among gamblers

You see, it is very cheap with the price of 1 doge at around 55 satoshi at the moment, which is less than 1 cent. And most casinos allow the minimum bet amount of 1 doge (or even less than that). In this way, Dogecoin allows the longest sequences of bets for martingale, and that likely explains why it is used widely for gambling (apart from its transactions also being cheap and fast)
~

Actually, some dice sites allow minimum was made with much less than that. You can bet with as little as 0.00000001 DOGE on some of them. But although you can afford many consecutive losses betting with DOGE on such sites and thus be winning constantly, the question is is the game worth the candle? You can win 0.00000002 DOGE per second on average with automated betting. It's 0.000072 DOGE per hour or 0.00072 DOGE per 10 hours. I bet you pay for the electricity your computer is using thousands times more than that even in the countries where it's super cheap.

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January 31, 2019, 12:44:57 PM
 #8008

That's one of the reasons why Dogecoin is so popular among gamblers

You see, it is very cheap with the price of 1 doge at around 55 satoshi at the moment, which is less than 1 cent. And most casinos allow the minimum bet amount of 1 doge (or even less than that). In this way, Dogecoin allows the longest sequences of bets for martingale, and that likely explains why it is used widely for gambling (apart from its transactions also being cheap and fast)

Actually, some dice sites allow minimum was made with much less than that. You can bet with as little as 0.00000001 DOGE on some of them. But although you can afford many consecutive losses betting with DOGE on such sites and thus be winning constantly, the question is is the game worth the candle? You can win 0.00000002 DOGE per second on average with automated betting. It's 0.000072 DOGE per hour or 0.00072 DOGE per 10 hours. I bet you pay for the electricity your computer is using thousands times more than that even in the countries where it's super cheap

Was it dooglus (or whatever his name is) who reported that he saw it only a couple of times with someone hitting a streak of 28 consecutive losses at 2x during the time he was running a casino? In this way, you don't need to set your initial bet amount at absolute minimum or you could just set lower (higher) odds so that the losing streaks would be longer while potential profits higher

But I agree, it is still either a waste of time or waste of money (you choose which)

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January 31, 2019, 02:36:14 PM
 #8009

2x is the bet odds. Using different bet odds is a modification of the original Martingale strategy, hence me calling it modified Martingale.

It doesn't look different on me Tongue even if its modified its still the same strategy.
Anyways, Does anyone know here another strategy on playing this game Smiley I would love to hear it.



Same, few weeks ago i've lost all of my balance but i'm not that upset about losing since all of it came from their faucet.

Mate, it's still money to me, even if it came from their faucet, the moment that I get a hold of it, it's already mine, And that's making me feel down, after winning that sats withing 3days, it will be gone in just a minutes Tongue

I just hope that thing has an UNDO button Cheesy (Which can only be used three times a day )

Then maybe you need a time machine to turn back the time  Tongue
I am playing with their faucet too, but unfortunately, I never win much money and never gets lucky on that site. Once I try to use multiply but I lose hahaha so I decide not to play the multiply again, and it's better to play the faucet only. All in all, it's a free satoshi for me even if the reward reduces a lot.

Sines1991
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January 31, 2019, 04:32:15 PM
 #8010

Am I wrong?

The fact that you have to even ask such a retarded question is in itself,  the answer.  Those who are as stupid as you should absolutely NEVER be allowed to control that kind of capitol.  EVER.  Thus,  you should just accept that you're a moron and relegated to be pennyless forever since that is the role you play until you decide to hand over the OXYGEN you're stealing from the rest of us.  Until you hand over the oxygen you are using up and absolutely WASTING,  you deserve nothing from anyone.  BTW I have a bot that will get you your 3BTC back.  Just give it 30BTC and let it go to work.  You'll get your 3BTC back in no time.  Guarenteed.  I'm sure you've got more stolen BTC hiding back there somewhere that you can use to dig yourself out of this hole.
\

The first time I used the bot and never before was not engaged and to do more will not. I lost a very large amount of money for me.
Sines1991
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January 31, 2019, 04:41:30 PM
 #8011

I understand The Queen is not going to respond to my messages.

You don't seem to be capable of understanding anything. I have already responded to your messages many times. Repeating the same bullshit isn't going to get you a different answer.

And I think that he is wrong in this situation about my deposits in the amount of almost 3 BTC. My opinion is he stole them from me. Am I wrong?

Completely wrong and by the looks of it the only person alive with that opinion. You went to a casino and tried to cheat and now you are begging the bouncer that just kicked your sorry arse out on to the pavement to give you back the stake money you tried to cheat with.

FFS even The Village Idiot can see that you are wrong.


You keep telling me that I tried to deceive you. What was I trying to deceive you? That played on several accounts in MULTIPLY BTC? Did it bring you any losses or problems? I didn't get anything at all. I just lost. In General, you will not return at least some part of my deposits? Am I right?
davinchi
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January 31, 2019, 06:23:06 PM
 #8012

You are over estimating the gamblers. I know low entry is important but they do not really think about 20 bitcoin or 2 bitcoin maximum because many people who gamble on martingale are not really that sharp people. There are some and there are just entertainment purposes but people who are on a casino to make money and use martingale are really not that well up there. Hence, it wouldn't really matter what the maximum is.

Obviously to us that is great but not for martingale purposes, its because having a higher threshold means we can play on low amounts for high odds and so forth. Right now, I can bet like 0.0003 or so and get 1 bitcoin as a win. That is the power of big wins, and someone with more money can change that to 0.006 for 20 bitcoin win and what not. That gives you losses almost all the time but that rare possibility is what 20 max is good for.

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deisik
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January 31, 2019, 07:53:34 PM
 #8013

You are over estimating the gamblers. I know low entry is important but they do not really think about 20 bitcoin or 2 bitcoin maximum because many people who gamble on martingale are not really that sharp people. There are some and there are just entertainment purposes but people who are on a casino to make money and use martingale are really not that well up there. Hence, it wouldn't really matter what the maximum is

Truth be told, I mostly agree with you

Clever people won't be playing martingale, and they likely won't be gambling in the first place other than for fun and entertainment only. Regarding "the power of big wins", I also agree with that point. Actually, this is what I tell myself and what is confirmed by casino owners themselves. It is not martingalers who give them most headache, it is deep pockets who bet rarely but surely and aim high at that. These guys are their main concern

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broke_tradah
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January 31, 2019, 08:17:47 PM
 #8014

You are over estimating the gamblers. I know low entry is important but they do not really think about 20 bitcoin or 2 bitcoin maximum because many people who gamble on martingale are not really that sharp people. There are some and there are just entertainment purposes but people who are on a casino to make money and use martingale are really not that well up there. Hence, it wouldn't really matter what the maximum is

Truth be told, I mostly agree with you

Clever people won't be playing martingale, and they likely won't be gambling in the first place other than for fun and entertainment only. Regarding "the power of big wins", I also agree with that point. Actually, this is what I tell myself and what is confirmed by casino owners themselves. It is not martingalers who give them most headache, it is deep pockets who bet rarely but surely and aim high at that. These guys are their main concern

Something to ponder.  If you're running a business and someone is exploiting you,  are you going to tell others that the exploit is working?  Or are you going to say that the exploit is pointless and not worth trying.  Anything that a casino is afraid of will automagically be labeled as "Never works" but for some reason they mysteriously put in rules that are attempts to thwart it (such as the max bet amount).  It's just good business practice to word it that way.  They want to discourage people from doing it,  not encourage by saying something could work.  Whenever someone tells you that something doesnt affect them,  always assume the complete opposite until proven otherwise.

Watch me rape Freebitco.in 24x7 with my gambling bot (you can to) here: https://dlive.tv/btctrading I also do some trading there as well.
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January 31, 2019, 09:16:09 PM
 #8015

Clever people won't be playing martingale, and they likely won't be gambling in the first place other than for fun and entertainment only. Regarding "the power of big wins", I also agree with that point. Actually, this is what I tell myself and what is confirmed by casino owners themselves. It is not martingalers who give them most headache, it is deep pockets who bet rarely but surely and aim high at that. These guys are their main concern

Something to ponder.  If you're running a business and someone is exploiting you,  are you going to tell others that the exploit is working?  Or are you going to say that the exploit is pointless and not worth trying.  Anything that a casino is afraid of will automagically be labeled as "Never works" but for some reason they mysteriously put in rules that are attempts to thwart it (such as the max bet amount)

I'm not sure I understand what you mean to say

The max bet amount depends on the size of the casino bankroll as this limit is vitally important for the casino's well-being. The max bet is limited against deep pockets who could ruin it by staking more than a casino can stand losing. But this is not a secret, so I don't really see much sense in your pointing that out. There is nothing "mysterious" about it because it is an essential part of the bankroll management

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broke_tradah
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January 31, 2019, 09:42:54 PM
Last edit: January 31, 2019, 10:41:03 PM by broke_tradah
 #8016

The max bet amount depends on the size of the casino bankroll as this limit is vitally important for the casino's well-being. The max bet is limited against deep pockets who could ruin it by staking more than a casino can stand losing. But this is not a secret, so I don't really see much sense in your pointing that out. There is nothing "mysterious" about it because it is an essential part of the bankroll management

This is what they want you to think.  But the real reason for ANY casino to have a max bet is to protect against those with deep pockets AND using martingale (they dont care about people with very little capitol using martingale).  You need to get your facts straight.  Any casino that tells you martingale is flawed is just trying to coax people into NOT using it (which makes no sense at all if you are to believe them that it doesnt do anything).  If it were so bad,  casinos would be BEGGING you to use it.  Do you see that around here?  No,  instead you see the complete opposite which is a huge red flag if you use common human psychology 101.  When someone tells you one thing,  believe the complete opposite until proven otherwise.  This doesnt go for just casinos and martingale,  it goes for ANYTHING that deals with interaction with a human.  Try to use martingale at any brick/mortar casino and you'll quickly notice that you get kicked out and BANNED the minute you reveal that you have the bankroll to back it up.  It's hands down the FASTEST way to get blackballed second only to counting cards in single and double deck blackjack (if you can find one lmao,  good luck with that).

Watch me rape Freebitco.in 24x7 with my gambling bot (you can to) here: https://dlive.tv/btctrading I also do some trading there as well.
TheQuin
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February 01, 2019, 03:39:02 AM
 #8017

~
I'm not sure I understand what you mean to say

That's because everything he says is complete and utter bullshit.

Prime example:

~BTW I have a bot that will get you your 3BTC back.  Just give it 30BTC and let it go to work.  You'll get your 3BTC back in no time. Guarenteed. ~

The bullshitting peddler of a pony shitbot dice script can't even spell guaranteed let alone back it up. The real human psychology at play here is is that many people so want to believe that there is a magic formula to get rich without any work or effort on their part they fall prey to unscrupulous snake oil salesmen promising the impossible.






deisik
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February 01, 2019, 07:02:11 AM
 #8018

The max bet amount depends on the size of the casino bankroll as this limit is vitally important for the casino's well-being. The max bet is limited against deep pockets who could ruin it by staking more than a casino can stand losing. But this is not a secret, so I don't really see much sense in your pointing that out. There is nothing "mysterious" about it because it is an essential part of the bankroll management

This is what they want you to think.  But the real reason for ANY casino to have a max bet is to protect against those with deep pockets AND using martingale (they dont care about people with very little capitol using martingale).  You need to get your facts straight

You sound so funny

A max bet is to protect the casino bankroll, i.e. it is "against" people staking too much which could potentially threaten the casino's financial resilience and ability to pay out. It is not directed specifically against martingalers or whatever. Indeed, they don't care about people with too little capital as the latter are no threat to them and cannot ruin the casino. So what facts should I actually get straight first?

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TheQuin
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February 01, 2019, 09:48:23 AM
 #8019

A max bet is to protect the casino bankroll, i.e. it is "against" people staking too much which could potentially threaten the casino's financial resilience and ability to pay out. It is not directed specifically against martingalers or whatever. Indeed, they don't care about people with too little capital as the latter are no threat to them and cannot ruin the casino.

This is absolutely the case. High rollers are the biggest risk to a casino as they can put a big dent the bankroll in just a few bets. For example, someone that can flat bet the max win of 20 BTC at 2x ten times in a row might get lucky and win 8 out 10 bets netting 120 BTC in a few seconds. The small sample size of bets means that level of variance is very common. The Martingale player would place a vast quantity of smaller bets meaning the potential variance is much smaller and the result much closer to the expected value.

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February 01, 2019, 10:32:56 AM
 #8020

The small sample size of bets means that level of variance is very common. The Martingale player would place a vast quantity of smaller bets meaning the potential variance is much smaller and the result much closer to the expected value

That's the point which martingalers fail to understand

The longer you play the less room there is for luck to have a say on the outcome (and more for the house edge). So it all comes down to either earning dust (but still exposing yourself to the risk of losing all) or losing all if you start big and let the house edge as well as variance catch up with you soon. All in all, it is a losing strategy unless you have a few million bitcoins and there is no max bet limit enforced by the casino. But in that very case using martingale would be an exercise in stupidity and futility as you could just bet high right away and have luck play along

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