Have you ever looked at how much you have wagered with a hanging mouth? :P

[mu_enrico]

Martingale is common but its impossible for most to stop on midway after winning some several bets yet they do push it hard until the very end until their
balance becomes zero.

Been there, done that

if you play with the highest win chance possible, you lose exactly the house edge from the wagered amount after around 10k bets made.

I believe that is because you have to play long enough so that the math starts to get "activated." In order to have around 1% loss, you must play x amount of rolls.

In your two examples, you simply didn't (or can't) play long enough. Hence without unlimited money, and let's say you used martingale, you will exit really fast.

[Johnzky]

I have quit gambling now.

However, when I look at the wager amount of my accounts in various sites and add them up, a total of 15 BTC comes up!

That's around $150000= 10,500,000 INR ! Around 1 crore Rupees or 0.15 million dollars!

I know it's easy to reach that wager since wager counts all bets even on 99% chance wins so if someone with 1 BTC wagers 20 times on 99% win chance and win all, they will wager 20 BTC!

But still to think I have wagered that much amount leaves me with a open mouth sometimes. Overall I'm in loss tho xD

OP, are you sure about that amount? As far as I remember you recently cleared your high school and preparing for engineering ( it means you are not older than 20 years) and you are from India, West Bengal. May I know how long you have been in gambling?

Your statement might be correct, but I am sure then you mistakenly posted this topic with your Alt account . if not then stop posting BS plz

This is your post.

Hi, I am a recent high-school passed out with decent grades in Math, Physics and Chem and currently preparing for engineering entrances for undergraduate courses in computer science engineering in a good college. I am fluent in three languages which are English, Bengali and Hindi of which Bengali is my native language. I would love to know if there are any jobs I am suitable for  do lemme know 

F*ck you got him there 😂 a high school graduate and looking for a job wasting 15btc in gambling?common man even if a 5 year old kid will find his just making story here

15 btc as mention by OP amounting 150,000$ for 10,500$ value and that’s not a small amount that a high school graduate can have.unless he is the teenager that bought bitcoin back in 2009 and become a millionaire in 2017 😂

[Oilacris]

I have quit gambling now.

However, when I look at the wager amount of my accounts in various sites and add them up, a total of 15 BTC comes up!

That's around $150000= 10,500,000 INR ! Around 1 crore Rupees or 0.15 million dollars!

I know it's easy to reach that wager since wager counts all bets even on 99% chance wins so if someone with 1 BTC wagers 20 times on 99% win chance and win all, they will wager 20 BTC!

But still to think I have wagered that much amount leaves me with a open mouth sometimes. Overall I'm in loss tho xD

OP, are you sure about that amount? As far as I remember you recently cleared your high school and preparing for engineering ( it means you are not older than 20 years) and you are from India, West Bengal. May I know how long you have been in gambling?

Your statement might be correct, but I am sure then you mistakenly posted this topic with your Alt account . if not then stop posting BS plz

This is your post.

Hi, I am a recent high-school passed out with decent grades in Math, Physics and Chem and currently preparing for engineering entrances for undergraduate courses in computer science engineering in a good college. I am fluent in three languages which are English, Bengali and Hindi of which Bengali is my native language. I would love to know if there are any jobs I am suitable for  do lemme know 

F*ck you got him there 😂 a high school graduate and looking for a job wasting 15btc in gambling?common man even if a 5 year old kid will find his just making story here

15 btc as mention by OP amounting 150,000$ for 10,500$ value and that’s not a small amount that a high school graduate can have.unless he is the teenager that bought bitcoin back in 2009 and become a millionaire in 2017 😂

Even he had bought bitcoin back on early years he wouldn't tend out to find out some job yet he do already have lots of money.

Nice catch we have here which do proves out that OP saying BS thing which shouldn't really be believed on.Gamblers wont easily tell
their huge loss into public but rather keeping it a secret all by themselves.

[joshy23]

Even if you want to stop, you still can't stop betting, it is so hard that you don't see the losses that you are having at that time that you are gambling. You are blinded by the fact that you are losing and at the same time winning good amounts but still can't cover up that losses that you made. I am addicted in the past, I am always saying it and I am so so thankful to my wife that stopped me from being addicted to gambling though I still gamble, it is different now since I can stop myself whenever I want to.

There's always a part of you who's keep whispering to play still,  good thing that you'll be able to control it now and you can quit whenever you think that it's needed for you to go, good enough instead of keeps on trying to recover but always losing your money, you have set things out and you need to follow things out in order not to fall back and be addicted once again.

[virasog]

I don't look at how much the wager I made before because if I am guessing, I think it's not more than 0.01 btc and as now, bitcoin price is up and down, so I think the amount in the dollar will be random
A real gambler never takes a look at how many wagers he made because he only calculates on how much profit he will make and if he loses, he will not think too much and only try to make more profit.

I agree on you.As a gambler,calculating the amount of money which you happen to lose is not really a good idea because it will make you feel upset.Gamble only on the amount intended for gambling and never make use even your savings to make you satisfied.After all,gambling is just for fun and not really a source of income.

Even though counting the money which you lost in gambling is a waste of time but if you simply  forget it and play with new money, there are chances that you will lose more money. If you remember the money you lost in gambling, you might be careful in future and may not unnesesarily spent big amount in gambling.

[imstillthebest]

I don't look at how much the wager I made before because if I am guessing, I think it's not more than 0.01 btc and as now, bitcoin price is up and down, so I think the amount in the dollar will be random
A real gambler never takes a look at how many wagers he made because he only calculates on how much profit he will make and if he loses, he will not think too much and only try to make more profit.

I agree on you.As a gambler,calculating the amount of money which you happen to lose is not really a good idea because it will make you feel upset.Gamble only on the amount intended for gambling and never make use even your savings to make you satisfied.After all,gambling is just for fun and not really a source of income.

Even though counting the money which you lost in gambling is a waste of time but if you simply  forget it and play with new money, there are chances that you will lose more money. If you remember the money you lost in gambling, you might be careful in future and may not unnesesarily spent big amount in gambling.

thats true  . it happens to me once  .i was lying in my bed and it suddenly comes to my mind about the losses that i made on gambling , it was lottery that i play the most  . in my head , i say that if i calculate all my lotto betting from the past i think im already a half millionaire now but its not yet too late too change  , so i change for the better and i now gambling/betting moderately  , completelty different from the past where i bet lotto every single day

[Spaffin]

It seems to me that all statements sound frivolously that no one is interested in the amount of their bets or the funds spent on gambling.  If we were rich enough, we would not be engaged in this activity, which gives a profit of 50 to 50. Based on this, we can assume that money should always be under our control.

[Oceat]

Well, if i have to recall all of my money who got lost in gambling that would be my reaction too. lol
We all have been there since no one can stop us from playing gambling in the first place since it is our choice because we all have different reasons why we play anyway. But looking at the money that you spent just by playing a gamble, it will leave a shocking face and thought though.

[vintages]

Well, if i have to recall all of my money who got lost in gambling that would be my reaction too. lol
We all have been there since no one can stop us from playing gambling in the first place since it is our choice because we all have different reasons why we play anyway. But looking at the money that you spent just by playing a gamble, it will leave a shocking face and thought though.

Hahah. True.
I wouldn't want to ever calculate my loss in gambling too, it can be discouraging considering the facts that sometimes my loss tends to be a hit higher. Especially the time I started out, during the trial and error stage.

This exact is why many people frown at gambling; the lose. However, its good to always keeps tabs of it.  Its a way of keeping us in check of when to stop and continue.

[Betwrong]

~

if you play with the highest win chance possible, you lose exactly the house edge from the wagered amount after around 10k bets made.

I believe that is because you have to play long enough so that the math starts to get "activated." In order to have around 1% loss, you must play x amount of rolls.

In your two examples, you simply didn't (or can't) play long enough. Hence without unlimited money, and let's say you used martingale, you will exit really fast.

Yeah, right, that's what I've noticed, with martingale you normally lose much more than just site's house edge. Almost all my big losses on dice sites occurred because of martingale. But if I play with the highest win chance possible (without increasing 10,000% on loss), I lose very close to 1% of the wagered amount if the house edge of the site is 1%, and it's close to 0.8% if the HE is 0.8% and so on.

My point is, if someone wagered 10 BTC on a dice site with 1% HE, it doesn't mean he/she lost around 0.1 BTC, like someone stated earlier in this thread, but they could lose more or win even. The only case when you really lose around the HE is when you play "long enough", as you said, or, in other words, when you make over 10,000 bets, from my experience, and when you never increase on loss, but just roll and roll with the highest win chance possible.

[Lawrenzoo]

Its better never to look it

[mu_enrico]

Nice explanation @Betwrong, I agree with you 100%

This thread has turned into a riot with some people making up accusations that I never wagered 15 btc. And some are quoting one of my post that I graduated high school recently and hence I can never wager 15 btc.

Just ignore it mate, they just don't understand getting accumulative 15 BTC wagered is not the same as having a whole 15 BTC in the wallet. Anyway, it's still possible for a high school graduate to have 15 BTC in his wallet.

Concerning this topic, sure you will get amazed at how much you have wagered, but that is not a useful metric. Total profits/losses, as mentioned by @Betwrong, is a much better metric.

[iMark]

Nice explanation @Betwrong, I agree with you 100%

This thread has turned into a riot with some people making up accusations that I never wagered 15 btc. And some are quoting one of my post that I graduated high school recently and hence I can never wager 15 btc.

Just ignore it mate, they just don't understand getting accumulative 15 BTC wagered is not the same as having a whole 15 BTC in the wallet. Anyway, it's still possible for a high school graduate to have 15 BTC in his wallet.

Concerning this topic, sure you will get amazed at how much you have wagered, but that is not a useful metric. Total profits/losses, as mentioned by @Betwrong, is a much better metric.

Maybe some people think gambling with a capital of 15 btc in 1 month, even though wagered is accumulative of the total gambling that you do. even just with 0.1 btc can reach more than 15 btc in 1 month if he is an active gambler. so am I, in just 1 week I can get wagered a few btc with only a small capital. No problem about how big wagered is not too important for me, the most important thing is the pleasure and benefits that you get, it's useless to make big wagered but you're not get profit or not enjoying it

[shield132]

I have quit gambling now.

However, when I look at the wager amount of my accounts in various sites and add them up, a total of 15 BTC comes up!

That's around $150000= 10,500,000 INR ! Around 1 crore Rupees or 0.15 million dollars!

I know it's easy to reach that wager since wager counts all bets even on 99% chance wins so if someone with 1 BTC wagers 20 times on 99% win chance and win all, they will wager 20 BTC!

But still to think I have wagered that much amount leaves me with a open mouth sometimes. Overall I'm in loss tho xD

Just checked my bitsler account and seems I have wagered up to 3 bitcoin while I'm still in profit of 0.02 bitcoin. Btw it would be great if our profit was our wagered amount of money, sounds very nice. I was usually playing with 0.04 bitcoin and my aim was to profit 10% or if I lose 10%, I'd stop. Had some loses and wins but finally got in profit of 0.02 bitcoin. And oh, I was playing with 60-70% chance of win, so seems I wagered 3 bitcoin pretty easily with some profit, good job.

[jrrsparkles]

Its better never to look it

Yes,becaise it won't change anything even if we lot all the money or changed our life fom garbage to millionaire.Just no use of calculating how much we spend but it might helpful for the people who were addicted to gambling to know how much they lost and it will realized later to change their behaviour towards gambling.

[pixie85]

I did not wager much. On dice it was maybe 0.04BTC and that's it, but I always play on 50% bets, never 99% or something like OP.

I wagered a bit more on blackjack but it's still less than 1BTC in 4 years. Not something I'd go crazy about. I managed to keep it pretty steady with a small loss on dice and a small win on BJ.

[ralle14]

Using 99% chance of win is a terrible strategy imo.
Because if you lose, you lose all. And if you win you get almost nothing .

The strategy he mentioned was just an example he only wants to point out that the total wagered amounts can easily add up and afaik you can't make a bet with a 99% chance.
On most dice sites the highest you could go for is 98%.

I also have that surprised feeling when I haven't checked my overall stats for some time but I don't leave my mouth hanging.

[bitgolden]

--snip

Yeah, right, that's what I've noticed, with martingale you normally lose much more than just site's house edge. Almost all my big losses on dice sites occurred because of martingale. But if I play with the highest win chance possible (without increasing 10,000% on loss), I lose very close to 1% of the wagered amount if the house edge of the site is 1%, and it's close to 0.8% if the HE is 0.8% and so on.

My point is, if someone wagered 10 BTC on a dice site with 1% HE, it doesn't mean he/she lost around 0.1 BTC, like someone stated earlier in this thread, but they could lose more or win even. The only case when you really lose around the HE is when you play "long enough", as you said, or, in other words, when you make over 10,000 bets, from my experience, and when you never increase on loss, but just roll and roll with the highest win chance possible.

In my opinion, regardless the strategy used on whatever sites, looking back at the amount wagered will always leave players with a hanging mouth, so please ignore all this this breakdown and calculations you are doing and focus on looking exactly at what you have done with gambling , the reason you have wasted so much money and the last question to be asked, if it’s truly worth it?

I have done this for some days now and have really noticed that I have wasted a lot of money and I don’t think it’s worth it. Although I had fun playing but this money could have done very well in the lives of some people. I try to imagine how much lives over 8BTC could have changed, how many school fees it could have paid for the less privileged, but here I have wasted it all on different gambling sites without profits or hope of getting back.

[LFC_Bitcoin]

I only gamble with amounts that I can afford to lose on a week by week basis but around a year ago I looked at my profit/loss on my Paddy Power betting account & I can tell you it was not pretty viewing

[erikalui]

OP, are you sure about that amount? As far as I remember you recently cleared your high school and preparing for engineering ( it means you are not older than 20 years) and you are from India, West Bengal. May I know how long you have been in gambling?

Your statement might be correct, but I am sure then you mistakenly posted this topic with your Alt account . if not then stop posting BS plz

This is your post.

Hi, I am a recent high-school passed out with decent grades in Math, Physics and Chem and currently preparing for engineering entrances for undergraduate courses in computer science engineering in a good college. I am fluent in three languages which are English, Bengali and Hindi of which Bengali is my native language. I would love to know if there are any jobs I am suitable for  do lemme know 

It's not impossible with bitcoins actually as in gambling sites, so many times people have managed to triple their amount and then wagered it again and again and plus gambling sites give bonuses and all. It's the wagered amount and doesn't mean that he deposited it.