Attempting to turn 0.05 BTC into 1.7 BTC

[Oshosondy]

we're not sure if your bet will win or not, it's better to have a back up plan just in case the thing we expect doesn't happen.

To win 2x in gambling, it is a chance of 50% but which is reduced to like 40% because of house edge. To win 34 odds, the chance is less than 2.948%. Is he going to win that amount? I will say NO. The chance to win it is very small. So I will say he should not just waste his money. It is not a matter of if he is going to win it or not.

[Ultegra134]

To win 2x in gambling, it is a chance of 50% but which is reduced to like 40% because of house edge. To win 34 odds, the chance is less than 2.948%. Is he going to win that amount? I will say NO. The chance to win it is very small. So I will say he should not just waste his money. It is not a matter of if he is going to win it or not.

From my understanding, the OP is planning to slowly build his way towards accumulating 1.7 BTC, he never mentioned that happening in one go, that's impossible.

The next bet is crucial as losing another bet would wipe out the entire bankroll.

@Op, if you want a tip, I think it's fine but only if you are helping us here win, but based on your bet, it seems like you don't have a good start which doesn't impress us here. I hope you'll win your next bet so you can start with your goal to turn this amount to 1.7 btc.

If he's planning to bet 0.025 BTC again, then yes, he's likely to wipe out his balance. Although his plan is very unlikely, his strategy so far isn't the best either. I don't mean to judge, but 50% of your balance in one bet is ridiculously high. The OP should slowly build his way by smaller bets, otherwise, he's only got one more chance before his whole plan is blown.

[crwth]

Don't gamble everything in one go. You can take it step by step and it should be something that you should already know and have an advantage on when you're trying to bet.

Do you have plans for your next bet? Maybe the members here could collectively give insights on it or something.

[dimonstration]

Starting Balance: 0.05 BTC

Bet #1: Colombia: Envigado FC - Real Cartagena FC | Over 3 | 0.025 BTC returns 0.06625 BTC
Bet Screenshot: https://imgur.com/a/Xn3BvXw

Result: -0.025 BTC

New Balance: 0.025 BTC

What the hell, already 50% down with just 1 bet? This is the worst bankroll management so far and you should just hold your 0.05BTC so that it’s value will grow in the future to meet your medical school fees.

Gambling it will make it worst especially that your target is an insane amount. Even a pro sports bettor will be having a rough time meeting that target since it’s too high and at the same time you are betting an amount of money you can’t afford to lose.

Just stop gambling and save money through jobs.

He's expectation is so high that's why expect for something bad to happen on his balance. And for seeing that he is already 50% down on his balance it show that he's not really good taking good decisions on his bets.

Much better for OP to study well his actions done since its doesn't mean its easy to bet on those sportsbook he can easily win and rich that ridiculous target. But somehow this is good learning experience and for sure will follow this to see what will happen to OP's journey if we can see a good comeback or he totally lose all of his balance here.

His pick is crazy because he is aiming for high odds bet while still using a huge percentage of bankroll to earn quick profit. He set his goal too far and use a method to quickly reach with insane risk involved. The OP doesn’t need to study gambling with this kind of thinking but rather to completely stop this madness.

Most importantly he is using money dedicated for his tuition fee which means his future rely on this money. Worst case is his parents entrust this money in advance while he use it for gambling in hope to increase it on quicker way. He should really just hold it in Bitcoin because the current price might pump later.

[bitbollo]

there is never a "safe bet". if there was a safe bet/ a sure result, this match is not quoted in any bookmaker.
this is why you must avoid over confidence in your bet playing high stakes.
Also, the first loss give you a lesson: you must have a money management system, otherwise with just 2 consecutive loss you have reached... 0 ! This is not your target!
Try to find in your country if some gambling site offer the option for "exchange gambling".
In most cases this allow to maximize the profit or better, even to have a profit without the game has already start!
I hope my suggestions can help... https://bitcointalk.org/index.php?topic=1234109.0 here you find my topic where I posted many tips related gambling (including my journey in btc gambling).

While you've made some good points, I disagree that there are no safe bets. I have seen many "suspicious" matches that were offered by many bookmakers but were later discovered to be "fixed". So it does happen, but it is hard to find those sure bets. That's why I can only rely on my research for now.

be careful. Fixed match betting always has pitfalls.
the first: the bookmaker does not pay the winnings (in the worst cases they can block your account and funds).
the second: the match wasn't fixed and your bet.. was a loss!
 
Over the years I have found very few "safe" results.
I'll mention 1. It was possible to bet on the relegation of a football team here in Italy... not so much because they played badly (well they were last in the table) but because it was certain they wouldn't have had the funds for joining the next year (consider that they had also sold the bus to take the team away, the stadium benches etc etc....)
a foreign bookmaker (crypto) allowed to bet.... ok maybe a rich investor would be able to save the situation but it was something impossible considering the high debts and last place in table...

How many situations like this do you find? these are very rare, if a result is certain it is not quoted.

[oktana]

You're betting too high already OP, I feel like you can probably do some brakes on the amount that you're putting in, 0.025 is such a big loss so I don't know how you can continue doing that kind of bets in the future, you also probably don't want to be relying on these bets to pay for your medical school, that 0.05 could probably fund you here in the first year of your medical school, maybe even have more pocket money because that's already a lot of money. Is the 1.7 btc for the whole time you're going to be in the medical school? If you can get to 0.05, you can probably do it again until you get to that instead of just gambling it all away.

One year costs over $30,000 here. So 0.05 BTC is not enough for even one semester.

I understand you but Irrespective of how much it costs, gambling your way there isn’t a good plan. It’s too much risk to take because you can end up with losing the money you’d have used to solve other problems, yet not going to the medical school.

[rodskee]

What can I say? 0.05 BTC is a reasonable amount of money, and you went ahead and bet half of that in your first bet. It seems that this challenge hasn't started out the best. Although it'd be best to judge when and if the OP ends up losing all his bankroll, until then, everything is possible. Your expectations are too high, and you're already halfway through losing your money. I'd probably be a little more careful if I were you. I personally wouldn't go ahead and bet such amounts, nor would I expect gambling to be my investment, but that's your call.

Nonetheless, I wish you good luck.

Nothing we can contribute here but wishes mate not unless others are willing to Donate as he have indicate
his TIP Address things that gives me soem doubt about the purpose of this thread , is he really actually doing this
challenge or he is hunting someone to tip him because there is nothing he provided from the op aside from that
Image so yeah we can only pray and wish luck for him.

[ethereumhunter]

You're betting too high already OP, I feel like you can probably do some brakes on the amount that you're putting in, 0.025 is such a big loss so I don't know how you can continue doing that kind of bets in the future, you also probably don't want to be relying on these bets to pay for your medical school, that 0.05 could probably fund you here in the first year of your medical school, maybe even have more pocket money because that's already a lot of money. Is the 1.7 btc for the whole time you're going to be in the medical school? If you can get to 0.05, you can probably do it again until you get to that instead of just gambling it all away.

One year costs over $30,000 here. So 0.05 BTC is not enough for even one semester.

I understand you but Irrespective of how much it costs, gambling your way there isn’t a good plan. It’s too much risk to take because you can end up with losing the money you’d have used to solve other problems, yet not going to the medical school.

At least, gambling is not a solution to make money, especially if he use much money. It seems he wants to make quick money from gambling but it's difficult to wins on gambling. He must realizes about the risks so he doesn't have to takes a high risk to bet on that amount. He can reduce his bet and slowly to wins and who knows, he can wins with his knowledge. Playing gambling doesn't mean you can make money with fast but you can lose your money with fast so you must thinks more to use gambling to make money. How about works as part time? I guess that can gives him salary and he can used it to invest in Bitcoin while waiting for the price increases. But if he still wants to try, we can wish he success to make more wins and much money so he can pay his study.

[FinneysTrueVision]

You are off to a very bad start, losing half your bankroll already. Looking for slow, steady profits and waiting for Bitcoin’s price to go up would have been a better strategy in my opinion. You made a good effort, but I don’t see you achieving your goal through gambling. A 34x return on your original investment was always unlikely to happen over a short period of time.

The lesson in all this is that to achieve something important in life it requires hard work. When you try to take shortcuts you will end up failing a majority of the time.

[Kakmakr]

You can actually take another route and find some high risk investment option, where you can use the wonder of compound interest to your advantage.

You say you are working, so you can put down the $3000 into the investment and then add to it monthly and let the compound interest work it's wonders.

Try to make some arrangement with the institution where you are studying to pay off the study fees, after you completed your studies and signoff the investment to them.

There must be better options out there than dumping money into something that does not offer a guaranteed high percentage of return. 

[Taskford]

You're betting too high already OP, I feel like you can probably do some brakes on the amount that you're putting in, 0.025 is such a big loss so I don't know how you can continue doing that kind of bets in the future, you also probably don't want to be relying on these bets to pay for your medical school, that 0.05 could probably fund you here in the first year of your medical school, maybe even have more pocket money because that's already a lot of money. Is the 1.7 btc for the whole time you're going to be in the medical school? If you can get to 0.05, you can probably do it again until you get to that instead of just gambling it all away.

One year costs over $30,000 here. So 0.05 BTC is not enough for even one semester.

I understand you but Irrespective of how much it costs, gambling your way there isn’t a good plan. It’s too much risk to take because you can end up with losing the money you’d have used to solve other problems, yet not going to the medical school.

At least, gambling is not a solution to make money, especially if he use much money. It seems he wants to make quick money from gambling but it's difficult to wins on gambling. He must realizes about the risks so he doesn't have to takes a high risk to bet on that amount. He can reduce his bet and slowly to wins and who knows, he can wins with his knowledge. Playing gambling doesn't mean you can make money with fast but you can lose your money with fast so you must thinks more to use gambling to make money. How about works as part time? I guess that can gives him salary and he can used it to invest in Bitcoin while waiting for the price increases. But if he still wants to try, we can wish he success to make more wins and much money so he can pay his study.

Some people failed to manage well their expectation and they think there's some easy methods they could able to do to earn fast cash. But majority of those people will realize once they experience the hardship on actual since they realize how hard to earn something especially on gambling especially if they are so aggressive to earn because they want to multiply their money as fast as they can since they use their winnings for their school fees or anything they are using it on.

Much better for OP to pack up since he is already in negative situation and just what you have said much better if he just seek a part time job since this is more realistic way on how he can sustain his education. For sure OP or lots of people learn from this and its so bad to see this happen for some individual who have wrong expectation from what he do that's why it ends up negative on their side.

[Samlucky O]

Though the amount you staked was too High despite the game didn't play. But if it where to have played, I guess you should having a smiling face by now. That is why gambling is unpredictable. You wouldn't know exactly what it will turn out to be after Prediction. If you knew it would have played 2:0 you would have reduced it to over 1.5goals or reduce your staking power. but I think when next you stake you should reduce you staking power. It is always advisable to spend what you can afford to lose although I don't know your financial capacity but we have to be careful when gambling, in other not to put ourself in a tight corner.

[bitzizzix]

OP is one type of person who is far from successful because the actions OP took were very risky and the same as wasting the money he had, and you work full time to get money to pay for medical school and that's cool. But after you collect, you are risking the money you earn with uncertain profits or wins, in fact most people will experience losses and that is very unfortunate.
You should think further if you work full time because you have a good goal, you have to do it consistently to achieve your goal, and if your money is already in Bitcoin, it is a good option and if you continue to put in money from your job into Bitcoin until your medical school payer's deadline. I think Bitcoin has given good returns, and if it doesn't, you should look for other solutions and don't risk betting, as that could potentially mean losing everything.

[Ultegra134]

Nothing we can contribute here but wishes mate not unless others are willing to Donate as he have indicate
his TIP Address things that gives me soem doubt about the purpose of this thread , is he really actually doing this
challenge or he is hunting someone to tip him because there is nothing he provided from the op aside from that
Image so yeah we can only pray and wish luck for him.

I wouldn't go ahead and mention what he could have done differently with the money—his money, his choice. However, since he's posting on a public forum, everyone is free to voice their own opinion, whether we like it or not, gambling is not an ideal method of investment. I'm only stating that he took an unnecessary risk by betting half of his bankroll already. He's motivated, at least; I'll give him that. I don't think the OP's goal is to accumulate tips; he's a newbie, and it's unlikely anyone is going to tip him these days.

[Bitinity]

Seems that your plan is not having a good start as you have lost 50% of your starting bankroll. I think you have a wrong strategy by placing 50% of your bankroll in your first bet. Of course it is your own right to do everything with your money, but I think you should have a better plan/strategy. At least you need to have a better calculation on how many bets you are going to have to reach your goal. Now you have 50% left, not sure what will you do but I guess you'll do bet it all in single bet with bigger odds than your first bet.

[moneystery]

it seems that your betting journey is not going as you planned, because now you have lost half of the bankroll you had set. i admit that this is a very risky gamble, because you need 34x to achieve your goal, which is very difficult to realize. if i were you, maybe i would think twice about gambling that much money, because it is more realistic for me to open a business with that kind of money. however, i am sure that you have thought about the risks of this bet and are ready for all the possibilities, and i hope that you can get positive results.

[Outhue]

Hi everyone, I am going to attempt to turn 0.05 BTC into 1.7 BTC with football/soccer betting. I will be using this post as a journal for my bets.

The goal is to be able to pay for medical school! Feel free to follow or fade my bets! But always bet responsibly.

Starting Balance: 0.05 BTC

Bet #1: Colombia: Envigado FC - Real Cartagena FC | Over 3 | 0.025 BTC returns 0.06625 BTC
Bet Screenshot: https://imgur.com/a/Xn3BvXw

Result: -0.025 BTC

New Balance: 0.025 BTC

tips: bc1qgll9gt4gmf8rddnyynrdrmzq9qzv336w7yezce

I can turn this 3k into 30k in few months investing in new start up projects, the last ones I invested gave me 10 to 30 times my money and I took many profits to buy back more Bitcoin, many people are scared of this strategy butbut it has never failed me.

It would have been different if gambling is your thing but with the way you ask this question it feels like you are just starting, and this amount isn't a good one to start with, even if you can afford to lose it I feel you need to feel how gambling really is, this is why I recommend using small amount first.

It is all about try and see, and also, Bitcoin is gold, this amount you have now is a lot in a few more months, you will see, why not keep your digital gold and use something else to gamble? I would rather keep my Bitcoin than use them to gamble.

I prefer using Dogecoin or Tron coin for gambling, Bitcoin satoshis are too rare this days to be wasting through gambling.

[bakasabo]

This is not the first time I see someone starts an achievement here in gambling. To bad all previous achievements were never fulfilled and OP always either lose everything and abandon topic, or simply abandon it.

I see OPs attempt as impossible to fulfil, especially if he continues to make such large bets (half of his deposit). Either it will take way to long and OP will find another way to achieve those 1.7 BTC, or one mistake will end his marathon. Besides, OP has chosen a wrong way to achieve his financial goal. Gambling is not a money making instrument.

[AicecreaME]

You're going to need a lot of luck to be able to hit your goal.

I'm not a gambler, and not a fan of gambling but here's my opinion. You need a lot of research when it comes to sports betting, also make sure that it's not a fixed match, or you'll lose all your funds while shattering your hope in the process. I'd rather invest it somewhere else if I were you, or just hodl that bitcoin and wait for a solid bull run cycle this year.

[SmartGold01]

Hi, thank you for your message! I just thought it would be a fun little challenge for myself. I am not betting with money I cannot afford to lose, but yes, medical school is very expensive where I am from.

Hey mate!
This is actually a bit crazy to say, couple with what requested and again saying you can afford to lose that 0.05 btc it is like trying to say that you have sufficiently enough to foot the bill but you are just trying to fool around here to keep discussing with you. To me there is no need for this topic if you think 0.05 seems pretty too poor for you to lose why don't you clear you tuition fees without having to gamble to increase your btc to 1.7btc knowing to well how gambling works.
And besides there is every possibility to easily sweep off your account since you are placing too high stakes, 0.025 for just a single game, why not go lower like 0.0009BTC to win 0.0015, with this strategies it could difficult to easily empty your account just like that.