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[veleten]

Yes, playing with 1.0102x payout is the simplest, and, probably, the most stupid strategy for participating in a wagering contest. I'm aware of that. If it's not for such a contest, I never play with low payouts, even with 1.1x. My favorite ones are 99x, 120x and higher. When playing with 1.0102x payout all the time, it's almost impossible to be in profit after 10,000 bets. Rather, it's almost guaranteed that you'll lose 1%-2% of the wagered amount. But in the end it depends on the prize you can potentially get. If the prize is several times higher than 2% of what you must wager for it, then 1.0102x is the best. But if the prize is around 1% or even less than that, which is pretty often the case, then combining strategies is definitely a better solution because your profit from the participation will most likely be negative otherwise.

It is not the most stupid strategy do not worry about what people say,,, I have used it myself for getting high wagers, and for sure it means I end up with losses a lot quicker BUT I can stretch my playing and wagers a lot. What is a good strategy anyway? Martingale? Everybody knows all strategies fail eventually.

My favorite also is setting:
1, 1% of bankroll
2, Bet on x 1.02
3, If win, multiply wager x 1.02
4, Repeat 2-3, 35 times

If did not lose, you now have double of 1%. Use this on lowest payout until bust. Repeat again.

with the multipliers like that you are paying the highest HE "fee" so to say
the weight of it is way higher the lower your multiplier is
its a legit wagering strategy though , one can easily get 100-200x his balance wagered
unfortunately , it is almost inevitable bust in the end , I prefer wagering  strategies where you can have a chance to win
for example 50% chance flat bets , if you pick a lucky side , you could get even or even profit

[1714208224]

1714208224

[1714208224]

1714208224

[1714208224]

1714208224

[windice]

[Betwrong]

Yes, playing with 1.0102x payout is the simplest, and, probably, the most stupid strategy for participating in a wagering contest. I'm aware of that. If it's not for such a contest, I never play with low payouts, even with 1.1x. My favorite ones are 99x, 120x and higher. When playing with 1.0102x payout all the time, it's almost impossible to be in profit after 10,000 bets. Rather, it's almost guaranteed that you'll lose 1%-2% of the wagered amount. But in the end it depends on the prize you can potentially get. If the prize is several times higher than 2% of what you must wager for it, then 1.0102x is the best. But if the prize is around 1% or even less than that, which is pretty often the case, then combining strategies is definitely a better solution because your profit from the participation will most likely be negative otherwise.

It is not the most stupid strategy do not worry about what people say,,, I have used it myself for getting high wagers, and for sure it means I end up with losses a lot quicker BUT I can stretch my playing and wagers a lot. What is a good strategy anyway? Martingale? Everybody knows all strategies fail eventually.

My favorite also is setting:
1, 1% of bankroll
2, Bet on x 1.02
3, If win, multiply wager x 1.02
4, Repeat 2-3, 35 times

If did not lose, you now have double of 1%. Use this on lowest payout until bust. Repeat again.

Interesting. I'll try out your strategy during the next wagering contest. But, from your experience, is it any better than betting with 1.0102x until you bust?


Meanwhile there's another great challenge on WinDice:

https://forum.windice.io/threads/0-02-btc-ranked-weekly-challenge-singapore-flyer-ride.743/

I've already managed to crush at 68x and to hit 4 greens in a row with 28% win chance chance, but I feel like I have to do much better than that to end up in the paid places.

[jostorres]

Yes, playing with 1.0102x payout is the simplest, and, probably, the most stupid strategy for participating in a wagering contest. I'm aware of that. If it's not for such a contest, I never play with low payouts, even with 1.1x. My favorite ones are 99x, 120x and higher. When playing with 1.0102x payout all the time, it's almost impossible to be in profit after 10,000 bets. Rather, it's almost guaranteed that you'll lose 1%-2% of the wagered amount. But in the end it depends on the prize you can potentially get. If the prize is several times higher than 2% of what you must wager for it, then 1.0102x is the best. But if the prize is around 1% or even less than that, which is pretty often the case, then combining strategies is definitely a better solution because your profit from the participation will most likely be negative otherwise.

It is not the most stupid strategy do not worry about what people say,,, I have used it myself for getting high wagers, and for sure it means I end up with losses a lot quicker BUT I can stretch my playing and wagers a lot. What is a good strategy anyway? Martingale? Everybody knows all strategies fail eventually.

My favorite also is setting:
1, 1% of bankroll
2, Bet on x 1.02
3, If win, multiply wager x 1.02
4, Repeat 2-3, 35 times

If did not lose, you now have double of 1%. Use this on lowest payout until bust. Repeat again.

with the multipliers like that you are paying the highest HE "fee" so to say
the weight of it is way higher the lower your multiplier is
its a legit wagering strategy though , one can easily get 100-200x his balance wagered
unfortunately , it is almost inevitable bust in the end , I prefer wagering  strategies where you can have a chance to win
for example 50% chance flat bets , if you pick a lucky side , you could get even or even profit

Everyone really thinks that there is a way of going around house edge but everyone forgets that mathematically as it is literally impossible to beat the house edge. Not in a "is this a challenge!!" way, it is not in a "here is one secret way, all other methods fail" type of thing, it is literally IMPOSSIBLE.

People for some reason try to find a "secret" way to beat the house edge that the house is trying to hide from them, they do martingales, they do weird ones, they do bots and AAAALLLL of them end up in negative. Not just for me or you, for EVERYONE it is impossible. Please try to enjoy the game and have fun, gambling suppose to be an enjoyable fun thing not a big scheme to make a lot of money and bankrupt a casino or something, that will never work.

[Lakai01]

People for some reason try to find a "secret" way to beat the house edge that the house is trying to hide from them, they do martingales, they do weird ones, they do bots and AAAALLLL of them end up in negative. Not just for me or you, for EVERYONE it is impossible. Please try to enjoy the game and have fun, gambling suppose to be an enjoyable fun thing not a big scheme to make a lot of money and bankrupt a casino or something, that will never work.

The problem in here is that those strategies "work" for some time, you can even play 50 games in a row and your strategy "works" ... until statistics and probabilities kicks in.

Simply put you cant beat the house or the house would be bankrupt in no time. You may have a winstreak or a "strategy" that "works" for some time but the more you play the less likely it is that you stay ahead of the house.

[sheenshane]

People for some reason try to find a "secret" way to beat the house edge that the house is trying to hide from them, they do martingales, they do weird ones, they do bots and AAAALLLL of them end up in negative. Not just for me or you, for EVERYONE it is impossible. Please try to enjoy the game and have fun, gambling suppose to be an enjoyable fun thing not a big scheme to make a lot of money and bankrupt a casino or something, that will never work.

The problem in here is that those strategies "work" for some time, you can even play 50 games in a row and your strategy "works" ... until statistics and probabilities kicks in.

You can enjoy rolling the dice even you though you will hit 50 wins in a row in winning streak but with low chances of winning against the house edge. This strategy most likely I do when I'm in dice gambling, ain't after the money that I possible win or lose as long as I enjoyed rolling dice just like killing my time while I'm bored. "Strategies" will not work in a long period of time may be in session of the game.

It is true that gambling is not just a type of chasing money, just enjoy and have fun. You can also communicate with other gamblers through the chatbox.

[leea-1334]

with the multipliers like that you are paying the highest HE "fee" so to say
the weight of it is way higher the lower your multiplier is
its a legit wagering strategy though , one can easily get 100-200x his balance wagered
unfortunately , it is almost inevitable bust in the end , I prefer wagering  strategies where you can have a chance to win
for example 50% chance flat bets , if you pick a lucky side , you could get even or even profit

I do not get what you mean by paying the highest house edge fee... the house edge is always the same no matter the percentage where I wager, and I am sure for windice it is the same. Pyschologically you are right of course it looks like you lose "more" but it is same HE.

it is a wagering strategy to get high wager, which is the point of these contests sometimes:)

[finity]

I am used to being able to change my client seed without changing my server seed. Why is this not possible? Literally every other dice site has this feature.

[SirLancelot]

Everyone really thinks that there is a way of going around house edge but everyone forgets that mathematically as it is literally impossible to beat the house edge. Not in a "is this a challenge!!" way, it is not in a "here is one secret way, all other methods fail" type of thing, it is literally IMPOSSIBLE.

People for some reason try to find a "secret" way to beat the house edge that the house is trying to hide from them, they do martingales, they do weird ones, they do bots and AAAALLLL of them end up in negative. Not just for me or you, for EVERYONE it is impossible. Please try to enjoy the game and have fun, gambling suppose to be an enjoyable fun thing not a big scheme to make a lot of money and bankrupt a casino or something, that will never work.

Honestly my favorite on just "not losing too much" strategy has always been betting as little as possible with as highest chance to win but whenever I lose betting a huge amount on the same odd so that I could recover it, I know I have just two losses in a row away from losing all of my money but right now the reality is that %99 or whatever chance to win means it is very very unlikely that I would lose twice in a row.

However, I like this 1.0102 one as well, it looks like it could be implemented with my current system as well and both of those could make a decent system together when you combine them. In any case, after certain amount of contests I just grow tired of it and start gambling for fun again, same goal over and over again becomes a bit boring when there is nothing new going on.

[Lakai01]

You can enjoy rolling the dice even you though you will hit 50 wins in a row in winning streak but with low chances of winning against the house edge. This strategy most likely I do when I'm in dice gambling, ain't after the money that I possible win or lose as long as I enjoyed rolling dice just like killing my time while I'm bored. "Strategies" will not work in a long period of time may be in session of the game.

It is true that gambling is not just a type of chasing money, just enjoy and have fun. You can also communicate with other gamblers through the chatbox.

Exactly. You have to see gaming as what it is: a sort of entertainment. Everyone is ok with spending some bucks for a ticket to watch a movie, so we gamblers should be ok with spending a few bucks to be entertained by games, too.
If someone sees gaming as a sort of income he or she will definitly fail.

[leea-1334]

Exactly. You have to see gaming as what it is: a sort of entertainment. Everyone is ok with spending some bucks for a ticket to watch a movie, so we gamblers should be ok with spending a few bucks to be entertained by games, too.
If someone sees gaming as a sort of income he or she will definitly fail.

Yes,,, I recall a few people, Legendaries in the forums, always saying this and my first personal experience was with a member in an online chat. You spend $10 to watch a movie for 2 hours. Or you spend $20 to watch a football game. You can come into a casino with $10 and spend hours if you play it around well. And maybe even win with it. That is simply the bonus.

[veleten]

Exactly. You have to see gaming as what it is: a sort of entertainment. Everyone is ok with spending some bucks for a ticket to watch a movie, so we gamblers should be ok with spending a few bucks to be entertained by games, too.
If someone sees gaming as a sort of income he or she will definitly fail.

Yes,,, I recall a few people, Legendaries in the forums, always saying this and my first personal experience was with a member in an online chat. You spend $10 to watch a movie for 2 hours. Or you spend $20 to watch a football game. You can come into a casino with $10 and spend hours if you play it around well. And maybe even win with it. That is simply the bonus.

too bad not many players realize it , I follow a  simple rule - once my coins leave my wallet to be deposited to a casino I consider them lost already
this is my "entertainment ticket" and I never gamble more than I can afford or chase losses or borrow to gamble etc.
you can socialize in chat , press the buttons or even leave your autobet running and go do whatever else you want to do
if you like adrenaline rush from gambling , you can get value for money at a crypto casino and your 5-10$ could last you hours if not days if you play within your limits and bank
sometimes you win and this comes as a bonus to the entertainment you are getting from gambling

[jostorres]

I like this 1.0102 one as well, it looks like it could be implemented with my current system as well and both of those could make a decent system together when you combine them.

The real way of making money from these kinds of competitions is never to play that small to get your wagering up, if you do not have enough money to gamble those big numbers I would suggest to keep away from them, if you have decent amount of bitcoin (like lets say 1 bitcoin to spare for gambling) that means you can spare to gamble like 0.25 bets and you can do 2x as well, if you gamble 10 times in a row with 0.25 that means 2.5 bitcoins gambled and you are on your way at the top anyway, 4 times in a row loss possible?

Yeah, it is possible but also 4 times in a row win is possible as well, so all in all you are going to risk 1 btc which you can spare to enjoy a competition. If you have like 0.0005 and want to be in top 10 and try to figure out a method, all you will have is zero.

[Lakai01]

if you like adrenaline rush from gambling , you can get value for money at a crypto casino and your 5-10$ could last you hours if not days if you play within your limits and bank
sometimes you win and this comes as a bonus to the entertainment you are getting from gambling

And not to forget that you still have the chance to make a fortune, even if chances are very very low. Other hobbies like going to the cinema, playing football or whatsever don't offer this possibility at all
Things are getting serious if someone can't stop playing and starts to lose a fortune. This is very unlikely to happen as long as you see gambling as a source of entertainment.

[Betwrong]

~
My favorite also is setting:
1, 1% of bankroll
2, Bet on x 1.02
3, If win, multiply wager x 1.02
4, Repeat 2-3, 35 times

If did not lose, you now have double of 1%. Use this on lowest payout until bust. Repeat again.

with the multipliers like that you are paying the highest HE "fee" so to say
the weight of it is way higher the lower your multiplier is
its a legit wagering strategy though , one can easily get 100-200x his balance wagered
unfortunately , it is almost inevitable bust in the end , I prefer wagering  strategies where you can have a chance to win
for example 50% chance flat bets , if you pick a lucky side , you could get even or even profit

Correct me if I'm wrong, but I think the house edge is always the same, and whether we win or not depends entirely on luck.

Let's examine what happens when we make 10,000 bets with the highest and lowest multipliers possible, and with 1.98x(50% win chance) on WinDice. Let's get rid of the luck factor by supposing that within 10,000 bets we'll have exactly 9,800 wins and 200 losses playing with 98% win chance; and we'll have 1 win and 9,999 losses playing with 0.01% win chance; and we'll have 5,000 wins and 5,000 losses playing with 50% win chance. Let's suppose, the bet amount equals to 100 sats.

98% win chance

Won: 9,800 x 1.0102 = 9,899.96 or roughly 9,900

Lost: 200 x 100 = 20,000

Profit = - 10,100

0.01% win chance

Won: 9,900 x 100 - 100 = 990,000 - 100 = 989,900

Lost: 9,999 x 100 = 999,900

Profit = - 10,000

50% win chance

Won: 5,000 x 98 = 490,000

Lost: 5,000 x 100 = 500,000

Profit = - 10,000

To be honest, I didn't expect the 100 sats difference between 98% win chance and others here, but I can't see what went wrong with my calculations. So, if they are correct, then you are right, there is indeed a small difference, just 1%, but still it's there.

[sana54210]

if you like adrenaline rush from gambling , you can get value for money at a crypto casino and your 5-10$ could last you hours if not days if you play within your limits and bank
sometimes you win and this comes as a bonus to the entertainment you are getting from gambling

And not to forget that you still have the chance to make a fortune, even if chances are very very low. Other hobbies like going to the cinema, playing football or whatsever don't offer this possibility at all
Things are getting serious if someone can't stop playing and starts to lose a fortune. This is very unlikely to happen as long as you see gambling as a source of entertainment.

I used to gamble a lot, I mean a lot as in all my money I made from crypto. Back in the day I earned probably 0.5 or so bitcoin (bitcoin was way cheaper) for coding and whenever I made a new fresh website with wordpress or anything (wasn't even coding required work) I would get 0.5 or basically 100-200 dollars at the time and started gambling with it, I couldn't stop myself when bitcoin went higher during 2015 and I lost thousands of dollars.

Thankfully, I realized my mistake and now I don't gamble that much, for couple years I didn't even gambled but now I gamble with responsibility and create myself some sort of barrier so I don't go overboard again, thankfully haven't had any issues for years and I am having fun all the time whenever I gamble myself.

[Lakai01]

Thankfully, I realized my mistake and now I don't gamble that much, for couple years I didn't even gambled but now I gamble with responsibility and create myself some sort of barrier so I don't go overboard again, thankfully haven't had any issues for years and I am having fun all the time whenever I gamble myself.

Thank you very much for sharing your story! May I ask what your barrier is? Do you have your coins stored in a safe place and cant access it that easy for example? I did so during the altcoin-frenzy in 2017 to keep myself from daytrading (and losing lots and lots of money because I am just not capable of trading, obiviously )

[dunfida]

Thankfully, I realized my mistake and now I don't gamble that much, for couple years I didn't even gambled but now I gamble with responsibility and create myself some sort of barrier so I don't go overboard again, thankfully haven't had any issues for years and I am having fun all the time whenever I gamble myself.

Thank you very much for sharing your story! May I ask what your barrier is? Do you have your coins stored in a safe place and cant access it that easy for example? I did so during the altcoin-frenzy in 2017 to keep myself from daytrading (and losing lots and lots of money because I am just not capable of trading, obiviously )

You guys should at least create some new thread talking about your gambling experiences. This is a windice thread created for specific topic. 

[henmark]

Thankfully, I realized my mistake and now I don't gamble that much, for couple years I didn't even gambled but now I gamble with responsibility and create myself some sort of barrier so I don't go overboard again, thankfully haven't had any issues for years and I am having fun all the time whenever I gamble myself.

Thank you very much for sharing your story! May I ask what your barrier is? Do you have your coins stored in a safe place and cant access it that easy for example? I did so during the altcoin-frenzy in 2017 to keep myself from daytrading (and losing lots and lots of money because I am just not capable of trading, obiviously )

You guys should at least create some new thread talking about your gambling experiences. This is a windice thread created for specific topic. 

I think it is quite understandable why people would want to share stories of gambling on a CASINO topic, that makes sense, this is not like some mining related topic, it is purely gambling and literally people should be allowed talk about whatever they feel comfortable talking about.

I do not have a limit physically, I usually gamble with only 50 bucks per week but I try not lose all of it neither, I just put it there as a deposit and don't really have a limit of how much I can lose of that, I just know that I want to postpone the next deposit as much as possible and that is the whole aim, I am not planning on winning money from it, I know what gamble is, I just don't want to lose all of it quickly to deposit even more later on. These days money is harder to find so it is harder to deposit more.

[veleten]

Thankfully, I realized my mistake and now I don't gamble that much, for couple years I didn't even gambled but now I gamble with responsibility and create myself some sort of barrier so I don't go overboard again, thankfully haven't had any issues for years and I am having fun all the time whenever I gamble myself.

Thank you very much for sharing your story! May I ask what your barrier is? Do you have your coins stored in a safe place and cant access it that easy for example? I did so during the altcoin-frenzy in 2017 to keep myself from daytrading (and losing lots and lots of money because I am just not capable of trading, obiviously )

You guys should at least create some new thread talking about your gambling experiences. This is a windice thread created for specific topic. 

I think it is quite understandable why people would want to share stories of gambling on a CASINO topic, that makes sense, this is not like some mining related topic, it is purely gambling and literally people should be allowed talk about whatever they feel comfortable talking about.

I do not have a limit physically, I usually gamble with only 50 bucks per week but I try not lose all of it neither, I just put it there as a deposit and don't really have a limit of how much I can lose of that, I just know that I want to postpone the next deposit as much as possible and that is the whole aim, I am not planning on winning money from it, I know what gamble is, I just don't want to lose all of it quickly to deposit even more later on. These days money is harder to find so it is harder to deposit more.

indeed , the conversation is gambling related and people are gambling at windice , so I don't see why they should be shooed from the topic 
gambling is about socializing too , you will get tired of pressing buttons eventually and wanna have someone to hear you out or sympathize with your loss or share the joy of a win 
having a limit of how much you gamble per week/month is good , this way you do not get sucked in and bet more than you can afford to lose