Gambling strategy, What do you think?

[dupee419]

I honestly think that this is more of a Trading strategy rather than to be a gambling strategy because in gambling there is no specific strategy, its just more of a critical thinking and decision-making, so I don't know why the title says gambling strat when it is supposed to be intended for trading, betting and HODLing.

[BetICO78]

Lets say you are a skilled Sports-book player and you have the ability to find safe games ( low odds ) around 1,5 in odds.

Instead of bet on Bet365, you take your money and exchange it into Bitcoins and plays your bet on a crypto casino. ( Nitrogen, Everbet, Sportsbet etc )

Ex, You exchange 1000 USD into 0.29 BTC
You play your safe bets with the goal to double or triple up your Bitcoins to 0,60-1 BTC, I have seen many players do this with fiat money, but here is the thing, When or IF you actually manage to double or triple up ( Hit n Run ) , you cash out directly and then you sit tight and just wait for the next Bull Run ( at least many of us believe and hope it will come one )

Lets say the bitcoin will reach 10K, then you sell your Bitcoins and you have done a pretty nice profit.

Sounds good but what if we encounter the next dip and not the next Bull Run

[davinchi]

What is the difference between playing on a bitcoin casino and keeping your bitcoin and playing on a regular sportsbook and than keeping your money in bitcoin again? The logic is bitcoin will increase in value, lets assume bitcoin does skyrocket and once again 20 thousand dollars, even 100 thousand dollars, nothing would change.

You either spend a thousand dollars and bet on sportsbook on real life and exchange the winnings to bitcoin and start to wait for bitcoin to increase, or you spend your thousand dollars to get bitcoin and gamble and wait, it will come to the same result, there would be no difference between them at all. Hence it would make no sense for someone to bet on bitcoin over dollars for that reason alone. I would prefer investing on bitcoin directly instead of gambling if I trust bitcoin to go up.

[BTCevo]

Lets say you are a skilled Sports-book player and you have the ability to find safe games ( low odds ) around 1,5 in odds.

Instead of bet on Bet365, you take your money and exchange it into Bitcoins and plays your bet on a crypto casino. ( Nitrogen, Everbet, Sportsbet etc )

Ex, You exchange 1000 USD into 0.29 BTC
You play your safe bets with the goal to double or triple up your Bitcoins to 0,60-1 BTC, I have seen many players do this with fiat money, but here is the thing, When or IF you actually manage to double or triple up ( Hit n Run ) , you cash out directly and then you sit tight and just wait for the next Bull Run ( at least many of us believe and hope it will come one )

Lets say the bitcoin will reach 10K, then you sell your Bitcoins and you have done a pretty nice profit.

As I can say this is really a good method but also a double-edge sword as well because you can get profit and loss it fast enough if there is no peak on the price market. First this is a gambling so you already have risk on your first step. Second thing after you win some amount you need to put some risk again on the market to make sure it is a profit if not. If you can bare the risk then go for it

[Supercrypt]

Sportbooks in crypto do not have that much better odds compared to many other places, I mean sure they might have better odds than las vegas or many other live betting places because those places have higher costs of running but when you take a look at regular online sportsbooks that you can gamble with dollars or whatever your currency is, odds are not that bad since they are online too, they don't have that much costs of running and they are fine with not being this multi-billion dollar organization and continue operating even if they are making couple hundred thousand dollars in profit each year, as long as its profitable.

Hence, sportsbooks in crypto are not that much advantagous over the sports books online, but definitely a better option than the live betting ones.

[Ross.Thoms27]

Few tips on how to be successful bettor in this article: (blog.vodds.com), Hope it helps!

[detector]

When you decide to gamble with crypto, you're risking 2 things at same time.

Gambling can make you loss !
When most crypto on downtrending let say like a month ago where btc decrease up to 45%

So you need think twice before try to gamble with crypto !

[Kakmakr]

A gambler will not stop gambling after he tripled his investment. It will take a lot of discipline from a gambler to stop gambling and then to wait for the price to increase, before he or she will be able to take a profit.

You are also bargaining on the safe bet strategy to give you guaranteed results and a good returns and this seldom happens. If you want to waste your money on gambling, then aim for the casino with the lowest house edge. 

[adaseb]

Like most of the replies in this thread, if you are "absolutely sure" that BTC will go to $10K sometime in the near future then why gamble with sports books.

Just trade it on margin. Put a 5x long on BTC right now and if/when it goes to $10K you will make $30K per BTC that you long on margin.

However you can't predict your sport bets accurately just like you can't predict that BTC will reach $10K anytime soon. Hence its all a gamble and all still very risky and not a good strategy at all.

[bitmover]

With your plan of betting at @1.5 , it will take a long journey before reaching your expected BTC1. No way you will just put a decent amount on every bet just to reached the target. Plus the fact that you will not always win.

Forget bull run when expecting profits from doing gambling. What you must focus is how to maintained a good winning stats while doing gambling.

I try a strategy like this

I believe it's better to start small, with basically dust, until you starting making some profits with your dust.

Certainly every game experience can be improved over time, as you learn the mechanics
Then you start betting higher amounts once you learn the basic and start making profits with your dust.

Statistically the house will mostly win, so it's a risk bet. Only use a small part of your portfolio.

[The Cryptovator]

I am agree with OP. Also I believe play game with crypto is better then from fiat. Like bet365 what ever your USD it will remain on same. But if you play with Bitcoin or other crypto then it might be double in fiat anytime. Although there is risk of dump crypto currency that's why you need patience. Otherwise you can play with crypto, because fear of dump. One thing that you need to choose trusted gambling website for play with crypto. Choose best and trusted website and stay safe.

[bittraffic]

ITs sort of holding not gambling though but yes its a good option to make money but its always the time wasted. You'd rather be trading your BTC on exchanges while you keep holding. Every satoshi you earn form trading counts, its not about the value USD which is why BTC/USD matters.

[wuvdoll]

Honestly this looks like it was just thought about on the spot and written instead of really laid out with details and such.
He was probably just surfing online (do people even say surf online anymore) and just thought about it and wrote it here.

It makes absolutely no sense and it is insanely crazy to even write it here, of course there is no point of putting trading and gambling together, what kind of crazy person would gamble with bitcoin just so they could make more money later on, why not gamble with fiat and than buy crypto with it to begin with!

This is really sounds like a kid and I am sorry but if you bring the anon parts of gambling to this world I am sure there are a lot of kids under age of 18 even 16 who find a way to make crypto by selling some stuff and start gambling at a very early age and that is just bad.

[mOgliE]

It's not a gambling strategy it's a holder strategy.

From previous experiences, it seems that it works quite well yup!

[rodskee]

Double or Tripling your Bitcoin thru sportsbetting sounds really very easy but it isnt specially you are sticking with low odds games.
For mentioning bull run there is indeed a price reversal and we do know that accumulating btc will really give you out some advantage on making
profits by just simply holding it.

This isnt a strategy after all.
[/quote]



That is truly sounds is really very easy to tell but double or triple the bitcoin in low odds
Impossible because in the gambling still have more risk than to holding bitcoin for long term hold to got profits using patience.

[Vaculin]

Nice plan, but easier said than done.
Regardless of the odds, the chance of winning is still here, that kind of mentality is for greedy people who think winning in sports is easy.
1.50 is good odds which could give you a better chance of winning, but if odds like 1.10 can loss, how about that odds.

[Johnzky]

That’s the most valuable strategy in gambling,the ability to wait and control your self,because if not then for sure nothing positive will happen to you
Waiting for bitcoin to grow again while in gambling is a hard task to fulfill so if you can manage this situation then for sure success will be on your way and not just a luck in gambling

[NJB18]

Most people are into betting sites depending on their comfort. I believe most people don't think if it is crypto or fiat but reliability, better odds and accessibility. I don't mind using fiats too but it just that I find it more comfortable using a crypto site for my bets.

[playboy654]

Most people are into betting sites depending on their comfort. I believe most people don't think if it is crypto or fiat but reliability, better odds and accessibility. I don't mind using fiats too but it just that I find it more comfortable using a crypto site for my bets.

Following some ways to get winning is not working at all time because gambling is not about strategy or some technical think it will depends upon only luck and time so following summer strategy will not work at most of the time this is my opinion.

[livingfree]

Good question. Let's imagine that we have won doubled or tripled to be positive. I'll decide to stop and save those profits, the capital would be returned to fiat and the profit would stay to bitcoin.

But if you are decided and you think that bulls about to come, then keep your capital as bitcoin together with your profit and just HODL until the price goes up. This has been effective for most so no need to doubt this strategy.