The analytics of my betting, what does it mean?

[romero121]

Posted is the screenshot of my bet history and the profit earned out of the same. The respective gambling site has got an one percent house edge. Looking the analytics does it look to be a provably fair game. There is a very huge difference between the wagered amount and the profiting. Another thing I find wins were higher than the number of losses.

[Lanatsa]

Is this a one-way setting of automated bet? No alteration of settings or base bets?
You should have profited basing into those numbers.Its quite odd actually.

[tsaroz]

It depends on many factors. Your base bet, your odds, your change in bet size and odd after each win or loss.
If you are to see that 1% house edge results, you should bet a constant amount in default odds i.e. x2 for a million of times. That way you'd reach closer to the expected result.
From your summary, we can conclude you were betting in low odds. That's why your wagering and number of bet, number of winning bets is higher but the profit is negative.

[bitmover]

Higher number of wins compared to losses doesn´t mean you will have profit. That´s because if you bet with high odds of winning the profit will be very small... on the other hand, you lose too much  if you lose.

You can that in your example.

[acroman08]

do you bet the same every time you bet? if yes then yes this is questionable if no then the answer is
the profit is lower because of the way you bet. you probably win a lot in small wages and loose a lot in
high wages that's why the total profit is lower wagered.

[BitcoinGirl.Club]

It's hard to find any meaning from here unless an analyst have enough raw data to analyses from different angles before coming to a conclusion.

[Lakai01]

It's hard to find any meaning from here unless an analyst have enough raw data to analyses from different angles before coming to a conclusion.

Impossible to tell based on this screenshot, ya. We would need much more info here to analyse why the stats are as they are shown.
Take windice for example. You can adjust the probability you want to win, resulting in reduced multipliers. If you wager 0.001 btc per roll with a multiplier of lets say 1.1 and roll 5 times where you win 4 times and lose one time you have lost roughly 0.0005 btc. So the wins count means nothing in this situation.

[kryptqnick]

I don't find it problematic. The wagered amount is simply all of the money you placed on your bets, right? You had more wins than losses, but the profit is negative, which means that you one the smaller bets and lost the bigger ones, to put it simply. As others have already mentioned, the odds can play a big part in this as well, and determining whether the house edge is truly 1% is hard if you played with various odds. Your overall slight loss is basically how the house edge works in the long-term perspective, I think. I tried to make various calculations with the statistics, but I could not come up with a normal way of testing the house edge.

[omonuyak]

Higher number of wins compared to losses doesn´t mean you will have profit. That´s because if you bet with high odds of winning the profit will be very small... on the other hand, you lose too much  if you lose.

You can that in your example.

Maybe he has not this understanding and it has to come here for clarity. I do agree with this "bet with high odds of winning" do results to this type of analysis. If you want the opposite then you have to reduce your odd of winning but I will said it is better to remain in profit than has your capital lose out.

[bitmover]

Maybe he has not this understanding and it has to come here for clarity. I do agree with this "bet with high odds of winning" do results to this type of analysis. If you want the opposite then you have to reduce your odd of winning but I will said it is better to remain in profit than has your capital lose out.

The problem with betting with like 95% chance of winning is that you will win like 0,1% (don´t know exactly but it is low), and if you lose you lose 100% of what is waged. At dice games at least...

[Bttzed03]

You should review your bet history if you have a record of it so you can come up with a better understanding of the result.

.

The problem with betting with like 95% chance of winning is that you will win like 0,1% (don´t know exactly but it is low), and if you lose you lose 100% of what is waged. At dice games at least...

Yep. I find it quite pointless to place a bet with that percentage of winning.

[emberbekas]

I found nothing strange with OP's overall bet statistics. People can get a higher number of green than red while the profits are negative. It all depends on the strategy they use. Using low payouts like 1.1x or even lower will provide almost the same statistics. Idk why OP is wondering about these items, is he new to the gambling business?

[Cacingkemi]

From your summary, we can conclude you were betting in low odds. That's why your wagering and number of bet, number of winning bets is higher but the profit is negative.

I strongly agree with this, OP must increase the odds but the situation will be reversed, the amount will lose much more than of wins. Cause odds are a difficult thing too, I mean won't always win unless have tips to get it.

[DoublerHunter]

From your summary, we can conclude you were betting in low odds. That's why your wagering and number of bet, number of winning bets is higher but the profit is negative.

I strongly agree with this, OP must increase the odds but the situation will be reversed, the amount will lose much more than of wins. Cause odds are a difficult thing too, I mean won't always win unless have tips to get it.

Well, for me it really depends. Maybe the reason why your win is bigger than your loss is because you lose with high bets and win from small bets. I don't see it as a strange/odd one but there is a possibility that my first sentence is the reason why your wins are bigger than your loses. You should have bet the same amount for you to be able to balance your statistics and will not be confused with it.

[peter0425]

Depends on lots of factor, but I see that perhaps that you betting is the culprit here. Maybe you bet is so small to offset all the money that you lost, that's why you are still in the negative side. That's the only reason I can see here. So there is no surprised here, to be honest.

[tippytoes]

Depends on lots of factor, but I see that perhaps that you betting is the culprit here. Maybe you bet is so small to offset all the money that you lost, that's why you are still in the negative side. That's the only reason I can see here. So there is no surprised here, to be honest.

That's what I'm thinking also. I've had similar outcome in one of the dice sites. So that kind of stats is really not surprising. You can give more analysis when you check the details of your bets.

I found nothing strange with OP's overall bet statistics. People can get a higher number of green than red while the profits are negative. It all depends on the strategy they use. Using low payouts like 1.1x or even lower will provide almost the same statistics. Idk why OP is wondering about these items, is he new to the gambling business?

If the OP is an old timer in the gambling business, I guess he will not ask this situation. Or it is only now that he noticed this kind of stats 

[Sharon121212]

What sort of betting is it a sport betting, casino, dice or something else? The wins are higher than the losses that can clearly be seen but what the wager and profit calculations makes it a not so good investment for you

[Ucy]

Could you  explain this? So you made a total of 4637 bet? Won 2,992 times,
Lost 1645 times
How did you manage to make so much bets? Did you achieve that with bot or manual?


So, total amount of bet: 0.9201 bitcoin?
Total profit: 0.01437 bitcoin?

[Twinkledoe]

Could you  explain this? So you made a total of 4637 bet? Won 2,992 times,
Lost 1645 times
How did you manage to make so much bets? Did you achieve that with bot or manual?


So, total amount of bet: 0.9201 bitcoin?
Total profit: 0.01437 bitcoin?

That is more than possible in dice sites. You can set your bets in auto mode. So what you can do is just watch the dice rolls and see if you are winning or losing. You can always stop anytime. And change the settings of your game. But it doesn't mean that he spent all of that 0.9201 btc in that site. Let's hear from the OP what he would say regarding this...

[FlightyPouch]

Could you  explain this? So you made a total of 4637 bet? Won 2,992 times,
Lost 1645 times
How did you manage to make so much bets? Did you achieve that with bot or manual?


So, total amount of bet: 0.9201 bitcoin?
Total profit: 0.01437 bitcoin?

-0.01437
No profit and that is so sad. I guess this is normal since every bet we make is not the same, right? The same thing happened to my cousin doing the Martingale strategy. Comparing those losses with a win, you should've earned a profit, I guess if this is me I will be minimizing my bets from now on. That amount will do better in my investment but yeah, it is hard to keep yourself form gambling.