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Author Topic: Martingale System  (Read 11343 times)
Rapido
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June 18, 2014, 01:30:36 AM
 #1

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.
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June 18, 2014, 01:40:22 AM
 #2

Will work if you have an infinite supply of wealth. Smiley

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.
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June 18, 2014, 01:45:22 AM
 #3

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

If that truly worked, all the casinos in the world would be out of business Wink

One of the reasons it doesn't, is the house's edge.

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Rapido
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June 18, 2014, 02:09:43 AM
 #4

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

If that truly worked, all the casinos in the world would be out of business Wink

One of the reasons it doesn't, is the house's edge.

You have a point there, thanks btw.  Smiley

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June 18, 2014, 04:10:40 AM
 #5

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

If that truly worked, all the casinos in the world would be out of business Wink

One of the reasons it doesn't, is the house's edge.

The true weakness of a martingale strategy is not the house edge (which refers to statistical probability in favor of the casino), but the max bet amount and/or funds available. Even with the house edge, a person could double their bet every interval and eventually win one unit. However, there will be a time when you will hit either the betting limit or your own limit in funds available.

Martingale looks like it works... at first. Then you hit the above scenario and can lose it all. Try the martingale system on a site with practice tokens and you'll see.



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Rapido
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June 18, 2014, 04:56:32 AM
 #6

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

If that truly worked, all the casinos in the world would be out of business Wink

One of the reasons it doesn't, is the house's edge.

The true weakness of a martingale strategy is not the house edge (which refers to statistical probability in favor of the casino), but the max bet amount and/or funds available. Even with the house edge, a person could double their bet every interval and eventually win one unit. However, there will be a time when you will hit either the betting limit or your own limit in funds available.

Martingale looks like it works... at first. Then you hit the above scenario and can lose it all. Try the martingale system on a site with practice tokens and you'll see.





Thanks for this. i'll try this system but will not push to the limit.  Smiley 
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June 18, 2014, 05:39:56 AM
 #7

freebitco.in do have very high house edge, even without house edge and you have a very very large bankroll, you will bankrupt in the long run unless you have unlimited bankroll.

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June 18, 2014, 07:29:03 AM
 #8

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

Before trying that, you may check this long thread https://bitcointalk.org/index.php?topic=610339.0;all Smiley

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June 18, 2014, 09:34:45 AM
 #9

As i allready explained somewhere , martingale is not a good system enough, since you have to have like 100 BTC to be able to make 0.001 per day with a really fast script to be on the safe side.

There are a lot of people that can confirm that 34 streaks (non winning numbers) happened , now to transform that in numbers:

1-0.00000001
2-0.00000002
3-0.00000004
4-0.00000008
5-0.00000016
6-0.00000032
7-0.00000064
8-0.00000128
9-0.00000256
10-0.00000512
11-0.00001024
12-0.00002048
13-0.00004096
14-0.00008192
15-0.00016384
16-0.00032768
17-0.00065536
18-0.00131072
19-0.00262144
20-0.00524288
21-0.01048576
22-0.02097152
23-0.04194304
24-0.08388608
25-0.16777216
26-0.33554432
27-0.67108864
28-1.34217728
29-2.68435456
30-5.36870912
31-10.73741824
32-21.47483648
33-42.94967296
34-85.89934592

Sum till this bet is 171.79869183 BTC, Are you still sure you want to do martingale?


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June 18, 2014, 07:12:17 PM
 #10

I tried it on Freebitco to see how they would counter it. They allow it for a few rounds, and then you get the longest loosing streak ever, until your coins are depleted.

Not worth it, they have a system to counter it. Which is a good thing. They would not have survived without it.

If you have coins to dump on them, try it yourself.  Grin

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June 18, 2014, 07:32:57 PM
 #11

Martingale works until it doesn't. The fact is, it is only foolproof if you have an endless bankroll. If you use proper bankroll management, you can ride a luck streak, take profit out, and start again, and may be successful. But ALWAYS take profit when you are ahead. Eventually, you will lose everything, guaranteed.
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June 18, 2014, 07:45:33 PM
 #12

There is nothing for free, worth to remember that.
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June 18, 2014, 07:54:39 PM
 #13

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

No, it's a sure loss. There is no betting system that will make you win 100%. You are better off farming btc from freebitco.in then trying to bet and losing it all.


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June 18, 2014, 08:11:47 PM
 #14

There is nothing for free, worth to remember that.

Well, sure. Time is money and all that. But there are still giveaways in bitcoin and altcoins. They don't pay like they did a couple years ago, but they are there. Wink
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June 18, 2014, 08:23:15 PM
 #15

variants of martingale will work. if you are willing to lose money to make money. as someone mentioned, martingale ALWAYS fails eventually, but if you have a good system for taking profit on runs, you can beat it. there are better ways to make money, though, imo.
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June 18, 2014, 10:00:07 PM
 #16

As i allready explained somewhere , martingale is not a good system enough, since you have to have like 100 BTC to be able to make 0.001 per day with a really fast script to be on the safe side.

There are a lot of people that can confirm that 34 streaks (non winning numbers) happened , now to transform that in numbers:

1-0.00000001
2-0.00000002
3-0.00000004
4-0.00000008
5-0.00000016
6-0.00000032
7-0.00000064
8-0.00000128
9-0.00000256
10-0.00000512
11-0.00001024
12-0.00002048
13-0.00004096
14-0.00008192
15-0.00016384
16-0.00032768
17-0.00065536
18-0.00131072
19-0.00262144
20-0.00524288
21-0.01048576
22-0.02097152
23-0.04194304
24-0.08388608
25-0.16777216
26-0.33554432
27-0.67108864
28-1.34217728
29-2.68435456
30-5.36870912
31-10.73741824
32-21.47483648
33-42.94967296
34-85.89934592

Sum till this bet is 171.79869183 BTC, Are you still sure you want to do martingale?



Risking 171BTC to make a satoshi is putting martingale into perspective

I want to answer to OP : try it for free, you will see that you will win sometimes and lose sometimes Wink No betting strategy beats an house edge

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June 18, 2014, 10:02:37 PM
 #17


Risking 171BTC to make a satoshi is putting martingale into perspective

I want to answer to OP : try it for free, you will see that you will win sometimes and lose sometimes Wink No betting strategy beats an house edge

martingale can beat it. the only catch is, you need enough money that you will literally, never ever run out. with bitcoin's finite supply, this is actually impossible. Wink
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June 18, 2014, 10:45:37 PM
 #18

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

I had tried martingale on freebitco.in and made a good profit to almost 100k satoshi in a day. The next day i played again and guess what, i ended up with zero balance.

Now i m giving up and quit.

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June 19, 2014, 01:08:15 AM
 #19

You will always loose if you use martingale on long term. At some point you will finish your limited budget!
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June 19, 2014, 01:24:57 AM
 #20

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.
dont try martingale for long term i'v try a couple time on many site if you use for longterm you loss everything because system can read your trick
so if you want try it on short term i hope you have luck with this method

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June 19, 2014, 01:25:29 AM
 #21

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

I had tried martingale on freebitco.in and made a good profit to almost 100k satoshi in a day. The next day i played again and guess what, i ended up with zero balance.

Now i m giving up and quit.

I lost about 270k, they have fixed game, like every other casino, they wont let you leave them bankrupt.


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June 19, 2014, 02:18:02 AM
 #22

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

I had tried martingale on freebitco.in and made a good profit to almost 100k satoshi in a day. The next day i played again and guess what, i ended up with zero balance.

Now i m giving up and quit.

I lost about 270k, they have fixed game, like every other casino, they wont let you leave them bankrupt.
There's a reason why they included the gambling part in their faucet and ads.

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June 19, 2014, 04:37:27 AM
 #23

I really suggest everyone not to do martingale since it's not working, but if you do it, than try using empty prerolls. Make X number of bets with 0 bet ammount and than start your martingale normaly.

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June 20, 2014, 07:48:57 AM
 #24

I really suggest everyone not to do martingale since it's not working, but if you do it, than try using empty prerolls. Make X number of bets with 0 bet ammount and than start your martingale normaly.

That won't change your odds such as your betting pattern won't change your strategy it will change your variance and your perception on your losses/winnings

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June 20, 2014, 08:10:42 AM
 #25

I really suggest everyone not to do martingale since it's not working, but if you do it, than try using empty prerolls. Make X number of bets with 0 bet ammount and than start your martingale normaly.

That won't change your odds such as your betting pattern won't change your strategy it will change your variance and your perception on your losses/winnings
Also, none of the bets influence each other. It is impossible for a sure win after a 19 lose streak, for example.

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June 20, 2014, 08:44:58 AM
 #26

I dont belive in this.
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June 20, 2014, 08:57:29 AM
 #27

tried this, worked on non scam play money casinos (not real money)
in reality this will not work
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June 20, 2014, 10:12:05 AM
 #28

I dont belive in this.

You don't believe there is a simple system available to anyone that allows you to become extremely rich in a matter of days without any efforts? Grin Grin

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June 20, 2014, 11:34:23 AM
 #29

always same its just about luck
because you will win in first session but you can lose all in next session, if you want try your luck go ahead, but for me it's too enough for playing gamble for earn bitcoin

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June 20, 2014, 12:17:51 PM
 #30


Quote
Thanks for this. i'll try this system but will not push to the limit.  Smiley 

It's not a system. It's a strategy. For every 10+ wins in a row there's an equal chance of losing 10x.
Say you're betting 1000 doge. If you need to overcome 10 losses it'll cost over 500,000 ...
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June 20, 2014, 01:36:48 PM
 #31


Quote
Thanks for this. i'll try this system but will not push to the limit.  Smiley 

It's not a system. It's a strategy. For every 10+ wins in a row there's an equal chance of losing 10x.
Say you're betting 1000 doge. If you need to overcome 10 losses it'll cost over 500,000 ...

There is no gambling strategy that gives you better odds of beating the house

I don't understand your explanation anyway

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June 20, 2014, 01:48:16 PM
 #32


Quote
Thanks for this. i'll try this system but will not push to the limit.  Smiley 

It's not a system. It's a strategy. For every 10+ wins in a row there's an equal chance of losing 10x.
Say you're betting 1000 doge. If you need to overcome 10 losses it'll cost over 500,000 ...

There is no gambling strategy that gives you better odds of beating the house

I don't understand your explanation anyway


Yep, if you're using some betting system, just stop when you're in profit or you will lose all.


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Balls
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June 20, 2014, 02:58:14 PM
 #33

Martingale works if you've got a lot of money and know to quit when ahead. If you bet 1 satoshi each time and have 1btc in the bank you can keep going until you get a decent win. Obviously just dont keep going or you'll loose at some point  Cheesy.
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June 20, 2014, 03:05:55 PM
 #34

You serious ?
If it was guaranteed we would all be millionaires...

You may win.. say $10k... then go again.. win another $10k... then go again and lose it all...

Do not do it...  its silly.. unless you have unlimited bank roll, which I am guessing you don't.

If you just want to have a bit of fun give it a go, but if you win. stop.... i repeat.. stop!

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

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June 20, 2014, 03:30:47 PM
 #35

You serious ?
If it was guaranteed we would all be millionaires...

You may win.. say $10k... then go again.. win another $10k... then go again and lose it all...

Do not do it...  its silly.. unless you have unlimited bank roll, which I am guessing you don't.

If you just want to have a bit of fun give it a go, but if you win. stop.... i repeat.. stop!

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

The fun about Martingale is to think it works so we are ruining the fun of many players, I almost feel bad Tongue

And don't stop when you won a lot; do one more bet to double up Grin

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June 20, 2014, 03:39:42 PM
 #36


Quote
Thanks for this. i'll try this system but will not push to the limit.  Smiley 

It's not a system. It's a strategy. For every 10+ wins in a row there's an equal chance of losing 10x.
Say you're betting 1000 doge. If you need to overcome 10 losses it'll cost over 500,000 ...
Not fully equal, there's something called variance, if you lose the first one, it doesn't mean you can have a 50% chance of winning the next one, you have in fact, less chance since you have to consider about the percentage of the house edge, which can be from 1% to 2%.

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June 20, 2014, 04:20:53 PM
 #37

Yes it is fun to let them think it works if you or I run a Casino.
I do not.. lol.. assuming you do not either yeah ?


You serious ?
If it was guaranteed we would all be millionaires...

You may win.. say $10k... then go again.. win another $10k... then go again and lose it all...

Do not do it...  its silly.. unless you have unlimited bank roll, which I am guessing you don't.

If you just want to have a bit of fun give it a go, but if you win. stop.... i repeat.. stop!

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

The fun about Martingale is to think it works so we are ruining the fun of many players, I almost feel bad Tongue

And don't stop when you won a lot; do one more bet to double up Grin

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June 20, 2014, 04:56:22 PM
 #38

In reality the results is you either win a few bet units or lose whole your bankroll. You won't have fun. Just play a normal strategy.
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June 20, 2014, 05:36:08 PM
 #39

i'm not too sure about freebitco.in, i have not checked it out. but as others have mentioned, martingale will always fail....

A freedom fighter. Stop all your bull shit !
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June 20, 2014, 06:15:41 PM
 #40


Quote
Thanks for this. i'll try this system but will not push to the limit.  Smiley 

It's not a system. It's a strategy. For every 10+ wins in a row there's an equal chance of losing 10x.
Say you're betting 1000 doge. If you need to overcome 10 losses it'll cost over 500,000 ...
Not fully equal, there's something called variance, if you lose the first one, it doesn't mean you can have a 50% chance of winning the next one, you have in fact, less chance since you have to consider about the percentage of the house edge, which can be from 1% to 2%.

Variance doesn't mean casino edge

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June 20, 2014, 06:23:57 PM
 #41

It may work for a short while, but when you lose, you lose big.  It's worth a shot for faucets and 'free' BTC, but certainly not to actually try to make some coins.

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June 20, 2014, 06:43:57 PM
 #42

It may work for a short while, but when you lose, you lose big.  It's worth a shot for faucets and 'free' BTC, but certainly not to actually try to make some coins.

It's great for freerolls, like on PrimeDice. You can actually have a shot at running it up, withdrawing some profit, and letting the rest run. But it's a bit risky to do with your own money, IMO.

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June 20, 2014, 06:47:52 PM
 #43

As it is pure probability, it can work, but there is no guarantee.
However the chance is probably higher than winning the lottery  Smiley

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June 21, 2014, 12:12:33 AM
 #44

As i allready explained somewhere , martingale is not a good system enough, since you have to have like 100 BTC to be able to make 0.001 per day with a really fast script to be on the safe side.

There are a lot of people that can confirm that 34 streaks (non winning numbers) happened , now to transform that in numbers:

1-0.00000001
..
.
.
32-21.47483648
33-42.94967296
34-85.89934592
Sum till this bet is 171.79869183 BTC, Are you still sure you want to do martingale?


What would happen then if I waited till there had been already a run of 10 or 15  non winning streaks and then started betting.

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June 21, 2014, 12:26:05 AM
 #45

As it is pure probability, it can work, but there is no guarantee.
However the chance is probably higher than winning the lottery  Smiley

the problem is with martingale you can lose more fast than lottery, even if you have bad luck you can lose only in 5 min

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June 21, 2014, 01:19:28 AM
Last edit: June 21, 2014, 01:43:50 PM by ranochigo
 #46


What would happen then if I waited till there had been already a run of 10 or 15  non winning streaks and then started betting.

You can get another runs of lose streak or you can have some win and loses. No bets affect each other, even if you have alot of lose, it cannot be guaranteed your next one will be a win. There is a equal chance of either a win or lose.

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June 21, 2014, 01:37:08 PM
Last edit: June 21, 2014, 04:02:33 PM by Bizmark13
 #47

I didn't know what Martingale was until I read about it and realized I was actually doing the exact same thing on Freebitco.in when I wanted to turn my balance into a nice round number just before withdrawing - e.g. having a balance of 29,980 satoshis and betting 20 satoshis to reach 30,000 satoshis. If I lose the bet, I would bet 40 satoshis, and so on until I won it all back plus the 20 satoshis. It worked well for me so far but I would definitely stop if I lost a large enough amount (fortunately that hasn't happened yet).

Martingale works semi-reliably if you have a very large balance and only bet very small amounts. But anything more than that and people tend to underestimate the frequency of losing streaks. The more bets you place in order to bring yourself to a reasonable profit, the more you're exposing yourself to encountering such a losing streak, and when that happens, you can easily blow away your entire balance - thus negating the strategy overall.

EDIT: Some rewording.
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June 21, 2014, 08:05:00 PM
 #48


What would happen then if I waited till there had been already a run of 10 or 15  non winning streaks and then started betting.

You can get another runs of lose streak or you can have some win and loses. No bets affect each other, even if you have alot of lose, it cannot be guaranteed your next one will be a win. There is a equal chance of either a win or lose.

If you have a string of bad "luck" then you could quickly either hit the max bet or your bankroll would run out. This is the flaw of this type of gambling system.

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June 22, 2014, 03:23:27 AM
 #49

What would happen then if I waited till there had been already a run of 10 or 15  non winning streaks and then started betting.

The bets are independent, so the chance of future bets will stay the same.
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June 22, 2014, 04:06:04 AM
 #50

What would happen then if I waited till there had been already a run of 10 or 15  non winning streaks and then started betting.

The bets are independent, so the chance of future bets will stay the same.

Yup:

Quote from: Wikipedia
The gambler's fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the mistaken belief that if something happens more frequently than normal during some period, then it will happen less frequently in the future, or that if something happens less frequently than normal during some period, then it will happen more frequently in the future (presumably as a means of balancing nature). In situations where what is being observed is truly random (i.e. independent trials of a random process), this belief, though appealing to the human mind, is false...

...There is another way to emphasize the fallacy. As already mentioned, the fallacy is built on the notion that previous failures indicate an increased probability of success on subsequent attempts.

http://en.wikipedia.org/wiki/Gambler's_fallacy
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June 22, 2014, 09:45:08 AM
 #51

As long as the house has an edge there is no "system" to beat them - just algorithms to control your losses  Cheesy
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June 22, 2014, 09:49:31 AM
 #52

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.

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June 22, 2014, 09:50:50 AM
 #53

As long as the house has an edge there is no "system" to beat them - just algorithms to control your losses  Cheesy
That's right. You can change the odds around, but the edge remains precisely the same. If the house edge is 1% and your total bet is X, your expected profit is -X/100.

You can make it much more likely that you'll win than that you'll lose, and thus much more likely that the house will lose than that they'll win. But when you do lose, it will be *huge*.

So, you can turn this: 51% of the time you lose $1, 49% of the time you make $1.
Into this: 99.9% of the time you make $1, 0.1% of the time you lose just over $1,000.

Bitcoin betting systems see lots of people using Martingale. As a result, they have long stretches in which they lose money. Operators have become concerned that there was an exploit or defect in their system. But then you have the good day that makes up for all the losses.

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June 22, 2014, 09:53:29 AM
 #54

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.

If the very first bet fails, and you keep doubling down as per the system you could very well lose your betting cap and not have made a single satoshi.

If you're going to gamble, just place the damn bets independently and enjoy it responsibly.  Don't try to out-hink a system which is stacked against you.
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June 22, 2014, 09:55:04 AM
 #55

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.
Not really, you can also bust on the first few rounds, even if you have a big balance, the risk is actually higher here.

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June 22, 2014, 09:58:17 AM
 #56

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.
That makes it a reverse lottery. That increases your probability of winning, but also increases the ratio of how much you win to how much you lose. It's like a reverse lottery where you get $1, but you have a one in a million chance of losing your house, wife, car, kids, job, and dignity.

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June 22, 2014, 10:07:35 AM
 #57

martingale system is like playing with electricity.  don't do it, lol.
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June 22, 2014, 11:30:46 AM
 #58

As long as the house has an edge there is no "system" to beat them - just algorithms to control your losses  Cheesy

True for the dice system, at least in my experience.
You could get up to 80% profit using a good algorithm and a little luck, but more than 100% will quickly fail

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June 22, 2014, 08:44:14 PM
 #59

Will work if you have an infinite supply of wealth. Smiley

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

For martingale to work two things need to be true:

1) The gambler needs infinite amount of wealth/bankroll
2) The casino/house needs infinite amount of price money

If either of these statements is false, martingale will not be profitable in the long run.

Justdice only has a 1% house edge though, (and recently luck has been 100.05%) so your profitability could be 99% which is much better than most other casinos.

However don't gamble to become rich, as gamlbing will only make you poor. Gamble for fun if you like.

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June 22, 2014, 08:58:05 PM
 #60

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.
Not really, you can also bust on the first few rounds, even if you have a big balance, the risk is actually higher here.

This gambling system works so that you must take ever escalating risks to potentially receive a small reward that does not increase with your increased risk.
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June 22, 2014, 09:07:46 PM
 #61

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.
Not really, you can also bust on the first few rounds, even if you have a big balance, the risk is actually higher here.

This gambling system works so that you must take ever escalating risks to potentially receive a small reward that does not increase with your increased risk.

You can certainly run up small amounts, though. I wouldn't risk much. But I've made good gains on Martingale, taking profit early always. Sure, my luck could turn though, but at this point, I only bet with pure profit.

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June 22, 2014, 09:10:59 PM
 #62

Just mak sur eyou martingale at the dice sites I am invested in.  Grin

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June 23, 2014, 01:43:33 AM
 #63

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.
Not really, you can also bust on the first few rounds, even if you have a big balance, the risk is actually higher here.

This gambling system works so that you must take ever escalating risks to potentially receive a small reward that does not increase with your increased risk.
It isn't worth is to use 1BTC to get 1 satoshi. If you actually want to use it to make a decent profit, example, 0.01, you can bust within the first few rounds, variance occurs so you might get a very bad streak immediately.

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June 23, 2014, 02:37:32 AM
 #64

Martingale is good for free money, but I wouldn't risk anything. Risking too much for too little gain.
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June 23, 2014, 02:43:03 AM
 #65

Martingale is good for free money, but I wouldn't risk anything. Risking too much for too little gain.
It actually isn't that good for free money, you can bust within a short amount of time, before you get any profit and if you do get a little profit, it isn't actually a lot unless you do it in the long run which is risky. You can get greedy and lose it all.

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June 23, 2014, 04:54:06 AM
 #66

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.
Not really, you can also bust on the first few rounds, even if you have a big balance, the risk is actually higher here.

This gambling system works so that you must take ever escalating risks to potentially receive a small reward that does not increase with your increased risk.
It isn't worth is to use 1BTC to get 1 satoshi. If you actually want to use it to make a decent profit, example, 0.01, you can bust within the first few rounds, variance occurs so you might get a very bad streak immediately.
Depending on where you start with your betting then you could very well do essentially this. Your maximum reward will be the amount of your original bet, however you need to double your bet every time time you lose your bet.
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June 23, 2014, 06:30:06 AM
 #67

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.

If the very first bet fails, and you keep doubling down as per the system you could very well lose your betting cap and not have made a single satoshi.

If you're going to gamble, just place the damn bets independently and enjoy it responsibly.  Don't try to out-hink a system which is stacked against you.
Exactly. Whenever I tell people how much I'm up from dice games, they seem to think that it's impossible that I did that without using some kind of "system". All I did was bet what I was comfortable with at whatever odds I felt like playing at.

Want to know the secret about gambling? Variance is important, as it is the only way you can win against the house edge. The easiest way to have high variance is to only play a few times and then stop completely.

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June 23, 2014, 09:55:39 AM
 #68

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.
Not really, you can also bust on the first few rounds, even if you have a big balance, the risk is actually higher here.

This gambling system works so that you must take ever escalating risks to potentially receive a small reward that does not increase with your increased risk.
It isn't worth is to use 1BTC to get 1 satoshi. If you actually want to use it to make a decent profit, example, 0.01, you can bust within the first few rounds, variance occurs so you might get a very bad streak immediately.

But you won't just win 1 satoshi. You could start betting 1 satoshi each time but if you've got a 1btc balance eventually you'll have a big loosing streak and eventually win where you make a little profit. Rinse and repeat.

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June 23, 2014, 10:51:36 AM
 #69

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.
Not really, you can also bust on the first few rounds, even if you have a big balance, the risk is actually higher here.

This gambling system works so that you must take ever escalating risks to potentially receive a small reward that does not increase with your increased risk.
It isn't worth is to use 1BTC to get 1 satoshi. If you actually want to use it to make a decent profit, example, 0.01, you can bust within the first few rounds, variance occurs so you might get a very bad streak immediately.

But you won't just win 1 satoshi. You could start betting 1 satoshi each time but if you've got a 1btc balance eventually you'll have a big loosing streak and eventually win where you make a little profit. Rinse and repeat.

2^23 and that 1BTC is gone.  It most likely won't happen on the first bet, but it very well could.  The fact you fail to understand odds is saddening.  Whatever the final exit limit is can be calculated at 2^(X-1) - X is the number of times you can fail before loosing everything.

This is the reason casinos have table limits to keep absurdity out.
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June 23, 2014, 11:06:25 AM
 #70

What does 2^23 mean? 23 loses and you're cleaned out?
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June 23, 2014, 11:23:44 AM
 #71

What does 2^23 mean? 23 loses and you're cleaned out?

23 sequential losses in a row and you're cleaned out.

First loss lose 1, double it to 2
Second loss lose 2, double it to 4 (you lost 3 total)
Third loss lose 4, double it to 8 (you lost 7 total).

You keep going until you reach your max hoping you'll win and "rinse and repeat" as noted above.  It works if you only want to bet a few times and have lots to risk, but as noted before you're doing a reverse lottery - risking a lot for a little gain which many would say is stupid.

If you're going to gamble, just gamble and enjoy. Don't think you can beat math.
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June 23, 2014, 11:35:41 AM
 #72

What does 2^23 mean? 23 loses and you're cleaned out?

at 23 losses you'd lose 2^23-1 your initial bet

2^23= 8.388.608 by the way

so, if you would bet 1 satoshi and lose 23 bets in a row, you'd be betting 0.08388608 just to win 1 satoshi. (with 49.5/50.5 chance to win/lose)

if you have a bankroll of 1 bitcoin you could fail a maximum of 25 times before you go bankrupt, assuming your initial bet is a single satoshi.

first bet = 1 satoshi
second bet = 2 satoshi
third bet = 4 satoshi
4th = 8
5th = 16
6th = 32
7th = 64
.....
10th = 512
......
20th = 524288 satoshi
25th = 33554432 satoshi

total = 67108863 satoshi (0.67108863 bitcoin)
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June 23, 2014, 11:40:06 AM
Last edit: July 11, 2014, 11:27:39 AM by Dr. Pepper
 #73

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.
Not really, you can also bust on the first few rounds, even if you have a big balance, the risk is actually higher here.

This gambling system works so that you must take ever escalating risks to potentially receive a small reward that does not increase with your increased risk.
It isn't worth is to use 1BTC to get 1 satoshi. If you actually want to use it to make a decent profit, example, 0.01, you can bust within the first few rounds, variance occurs so you might get a very bad streak immediately.

But you won't just win 1 satoshi. You could start betting 1 satoshi each time but if you've got a 1btc balance eventually you'll have a big loosing streak and eventually win where you make a little profit. Rinse and repeat.

2^23 and that 1BTC is gone.  It most likely won't happen on the first bet, but it very well could.  The fact you fail to understand odds is saddening.  Whatever the final exit limit is can be calculated at 2^(X-1) - X is the number of times you can fail before loosing everything.

This is the reason casinos have table limits to keep absurdity out.

I know the odds and I didn't say it was foolproof. You're unlikely to hit 23 loses for a while and obviously you take the gamble that this wont happen on your first rounds. Get greedy and gamble all day and you'll most certainly lose out.

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June 23, 2014, 11:44:17 AM
 #74

What does 2^23 mean? 23 loses and you're cleaned out?

at 23 losses you'd lose 2^23-1 your initial bet

2^23= 8.388.608 by the way

so, if you would bet 1 satoshi and lose 23 bets in a row, you'd be betting 0.08388608 just to win 1 satoshi. (with 49.5/50.5 chance to win/lose)

if you have a bankroll of 1 bitcoin you could fail a maximum of 25 times before you go bankrupt, assuming your initial bet is a single satoshi.

first bet = 1 satoshi
second bet = 2 satoshi
third bet = 4 satoshi
4th = 8
5th = 16
6th = 32
7th = 64
.....
10th = 512
......
20th = 524288 satoshi
25th = 33554432 satoshi

total = 67108863 satoshi (0.67108863 bitcoin)

Yeah thought that's what it meant. Thanks.
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June 23, 2014, 11:51:27 AM
 #75

People seem to think they're not going to lose 10+ bets in a row but the longer you play the more likely this is to happen. Martingale most certainly isn't a magic money making scheme and most people learn that the hard way.

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June 23, 2014, 11:57:00 AM
 #76

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.
dont try martingale for long term i'v try a couple time on many site if you use for longterm you loss everything because system can read your trick
so if you want try it on short term i hope you have luck with this method

I've also tried in on long term using a script and after a while i start losing, what do you think on how much time before the system knows if i am using this system? 
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June 23, 2014, 11:59:36 AM
 #77

Martin gale will work on small ammounts on a big balance. Just quit whilst you're ahead and don't get greedy.
Not really, you can also bust on the first few rounds, even if you have a big balance, the risk is actually higher here.

This gambling system works so that you must take ever escalating risks to potentially receive a small reward that does not increase with your increased risk.
It isn't worth is to use 1BTC to get 1 satoshi. If you actually want to use it to make a decent profit, example, 0.01, you can bust within the first few rounds, variance occurs so you might get a very bad streak immediately.

But you won't just win 1 satoshi. You could start betting 1 satoshi each time but if you've got a 1btc balance eventually you'll have a big loosing streak and eventually win where you make a little profit. Rinse and repeat.

I know the odds and I didn't say it was foolproof. You're unlikely to hit 23 loses for a while and obviously you take the gamble that this wont happen on your first rounds. Get greedy and gamble all day and you'll most certainly lose out.

2^23 and that 1BTC is gone.  It most likely won't happen on the first bet, but it very well could.  The fact you fail to understand odds is saddening.  Whatever the final exit limit is can be calculated at 2^(X-1) - X is the number of times you can fail before loosing everything.

This is the reason casinos have table limits to keep absurdity out.
Are you the type who can risk 1BTC for 1 satoshi? Maximum you can get is 0.001 which have a huge risk of busting before that. Once, I used 0.01BTC to win 0.07BTC. And you know what happened almost immediately after I started my 9th round with 0.02? Bust within minutes, with the same odds, same amount of starting bet and increased bankroll. It can bust within a few minutes after you start the game, imagine how long it takes to earn 0.001

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June 23, 2014, 12:02:16 PM
 #78

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.
dont try martingale for long term i'v try a couple time on many site if you use for longterm you loss everything because system can read your trick
so if you want try it on short term i hope you have luck with this method

I've also tried in on long term using a script and after a while i start losing, what do you think on how much time before the system knows if i am using this system? 
Gambling sites predetermined bets and show you the encrypted hash. They cannot change the result when you roll. If you want to have more security, use a unique client seed. The fact that you lose in the long run is because variance occurs and long losing streaks are almost guaranteed to happen.

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June 23, 2014, 12:10:39 PM
 #79

Are you the type who can risk 1BTC for 1 satoshi? Maximum you can get is 0.001 which have a huge risk of busting before that. Once, I used 0.01BTC to win 0.07BTC. And you know what happened almost immediately after I started my 9th round with 0.02? Bust within minutes, with the same odds, same amount of starting bet and increased bankroll. It can bust within a few minutes after you start the game, imagine how long it takes to earn 0.001

Well couldn't you say that about all gambling? Are you willing to risk 1btc for 1 btc, 0.10 for 0.30 etc. People try use the Martingale and start off with small amounts because they think it's less of a risk, and in the short term it usually is, but it's knowing when to quit/cash out.

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June 23, 2014, 12:19:21 PM
 #80

Are you the type who can risk 1BTC for 1 satoshi? Maximum you can get is 0.001 which have a huge risk of busting before that. Once, I used 0.01BTC to win 0.07BTC. And you know what happened almost immediately after I started my 9th round with 0.02? Bust within minutes, with the same odds, same amount of starting bet and increased bankroll. It can bust within a few minutes after you start the game, imagine how long it takes to earn 0.001

Well couldn't you say that about all gambling? Are you willing to risk 1btc for 1 btc, 0.10 for 0.30 etc. People try use the Martingale and start off with small amounts because they think it's less of a risk, and in the short term it usually is, but it's knowing when to quit/cash out.
But for most small amounts, it usually cannot make a decent profit, subtracting the fees. Most people usually want at least 1% of profit before quitting , this can take some time.

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June 23, 2014, 12:23:39 PM
 #81

Are you the type who can risk 1BTC for 1 satoshi? Maximum you can get is 0.001 which have a huge risk of busting before that. Once, I used 0.01BTC to win 0.07BTC. And you know what happened almost immediately after I started my 9th round with 0.02? Bust within minutes, with the same odds, same amount of starting bet and increased bankroll. It can bust within a few minutes after you start the game, imagine how long it takes to earn 0.001

Well couldn't you say that about all gambling? Are you willing to risk 1btc for 1 btc, 0.10 for 0.30 etc. People try use the Martingale and start off with small amounts because they think it's less of a risk, and in the short term it usually is, but it's knowing when to quit/cash out.
But for most small amounts, it usually cannot make a decent profit, subtracting the fees. Most people usually want at least 1% of profit before quitting , this can take some time.

Yes, but that's not the point as the small amounts on Martingale quickly add up when you're double your last losing bet everytime. You then quit when you're at a decent winning. At least that's the plan.

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June 23, 2014, 01:08:33 PM
 #82

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.
Do not play with martingle system you will loose all you money very fast! I am saying this from my personal experience! This is the best way to give your coins. As teory if you have unlimited amount of cash you will win the system ( and of course if there wasnt limits for betting) I saw examples of 30 loosing chain which is very fast way to make you poor .
BR
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June 23, 2014, 01:15:23 PM
 #83

How much were you betting and how much did you lose?

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June 23, 2014, 02:19:48 PM
Last edit: June 23, 2014, 10:40:13 PM by zimmah
 #84

I have made a small spreadsheet where you can calculate the odds yourself based on the amount you want to bet

https://docs.google.com/spreadsheets/d/1W_eAMRElsFZH--1npDBqBs_f-PoM7FsMBgPCzriYhSk

/edit fixed a bug

update: more recent version (beta version, maybe buggy)

https://docs.google.com/spreadsheets/d/1urhC3Su1ByvstzfKu5SOwUKYQm2xO0cXOisK8hawNn8
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June 24, 2014, 12:12:54 AM
 #85

It's gambling. You can't say "it works" or "it doesn't work". To some extent, it does work, just like betting all your life savings on a 50% roll might also work, and it might fail. What you can say for sure however, is that it's not guaranteed to make you a profit.

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June 24, 2014, 12:30:45 AM
 #86

It's gambling. You can't say "it works" or "it doesn't work". To some extent, it does work, just like betting all your life savings on a 50% roll might also work, and it might fail. What you can say for sure however, is that it's not guaranteed to make you a profit.
However, you can make the probability that you will make a profit as high as you want -- 99.9% if you like. The tradeoff is that the profit you will make will be very small relative to the amount you will lose in that 0.1% case. (This is true even if the house imposes relatively low limits. You just need to make some small tweaks to the system. However, it will mean that you may need to play for a *very* long time.)

I am an employee of Ripple. Follow me on Twitter @JoelKatz
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June 24, 2014, 06:49:26 AM
 #87

The fact that there is continued discussion on this "system" points the absurdity of the gambler's mind.  They think they can beat basic statistics by having a logical well-defined system.  You know those people who go down at 3AM when their wife or girlfriend is sleeping so they don't get caught.  The win about 20 rounds and then they get a bad streak and you see their faces as they mope through the casino.

These guys love to frequent the roulette table and think they can find patterns the colors.  Wink
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June 24, 2014, 06:55:22 AM
 #88

Are you the same dude from Dragons Tale ?

The best is people who pee on the floor... in their seats... I mean if your on a winning streak.. no point getting up :|
they should sell little baggies in the casinos...
quite disgusting, but more common than most would think.

The fact that there is continued discussion on this "system" points the absurdity of the gambler's mind.  They think they can beat basic statistics by having a logical well-defined system.  You know those people who go down at 3AM when their wife or girlfriend is sleeping so they don't get caught.  The win about 20 rounds and then they get a bad streak and you see their faces as they mope through the casino.

These guys love to frequent the roulette table and think they can find patterns the colors.  Wink

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June 24, 2014, 11:43:57 AM
 #89

Two martingale facts:

1)Your win will be your initial bet, if you win. Your loss will grow exponentially after each loss. You'll have many small gains, then a huge loss way worse than your small gains added, without infinite money.

2) Gambling tables in general offers limits that makes really unprofitable using Martingale, either you are playing for really few money or your odds of losing all will increase dramatically

3) I'm certain that there are winning strategies to win casino games(some people got millionaire playing card games), but they would strongly depend on game's rules. Martingale can be applied to roulette, tails or heads, dices, etc..., so it cannot be a winning strategy
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June 24, 2014, 11:54:09 AM
 #90

3) I'm certain that there are winning strategies to win casino games(some people got millionaire playing card games), but they would strongly depend on game's rules. Martingale can be applied to roulette, tails or heads, dices, etc..., so it cannot be a winning strategy

"There are people winning" ≠ "There are winning strategies".
For example, there are people winning the lotteries (Powerball in US, National Lottery in UK, etc), but the winners win just because of they are lucky.

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June 24, 2014, 11:56:14 AM
 #91

The fact that there is continued discussion on this "system" points the absurdity of the gambler's mind.  They think they can beat basic statistics by having a logical well-defined system.  You know those people who go down at 3AM when their wife or girlfriend is sleeping so they don't get caught.  The win about 20 rounds and then they get a bad streak and you see their faces as they mope through the casino.

These guys love to frequent the roulette table and think they can find patterns the colors.  Wink


If you believe the games are really fair, you should understand there are no "winning strategies".
If you believe the results can be predicted or follow some patterns (not really fair), you should stop betting.

Cheesy

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June 24, 2014, 05:00:56 PM
Last edit: June 25, 2014, 12:55:27 AM by Malin Keshar
 #92

3) I'm certain that there are winning strategies to win casino games(some people got millionaire playing card games), but they would strongly depend on game's rules. Martingale can be applied to roulette, tails or heads, dices, etc..., so it cannot be a winning strategy

"There are people winning" ≠ "There are winning strategies".
For example, there are people winning the lotteries (Powerball in US, National Lottery in UK, etc), but the winners win just because of they are lucky.
3) I'm certain that there are winning strategies to win casino games(some people got millionaire playing card games), but they would strongly depend on game's rules. Martingale can be applied to roulette, tails or heads, dices, etc..., so it cannot be a winning strategy

"There are people winning" ≠ "There are winning strategies".
For example, there are people winning the lotteries (Powerball in US, National Lottery in UK, etc), but the winners win just because of they are lucky.




See for exemple the MIT blackjack team:

http://en.wikipedia.org/wiki/MIT_Blackjack_Team

They managed to beat the casino. That was craz hard, but they did it.

Poker and other player vs player games are also casino games, with no house edge
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June 24, 2014, 07:08:42 PM
 #93

Blackjack and poker games, are very much different from dice games and coin tossing.

After rolling a "6" with a fair dice, it won't change the chance for me to get another "6" in my next roll.
And if I know the result of the last 10 rolls, it won't help me make a better guess of the next 10 rolls.

The situation is completely different for poker games like blackjack.
If I see a "card 2" is delivered, I know there is one less "2" in the deck, and so the chance of getting a "2" is smaller now.
So, technique like counting cards will give you a better evaluation of chances of getting different cards, and hence give you an advantage.

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June 24, 2014, 07:18:32 PM
 #94

It's gambling. You can't say "it works" or "it doesn't work". To some extent, it does work, just like betting all your life savings on a 50% roll might also work, and it might fail. What you can say for sure however, is that it's not guaranteed to make you a profit.
However, you can make the probability that you will make a profit as high as you want -- 99.9% if you like. The tradeoff is that the profit you will make will be very small relative to the amount you will lose in that 0.1% case. (This is true even if the house imposes relatively low limits. You just need to make some small tweaks to the system. However, it will mean that you may need to play for a *very* long time.)
Meaning you'd need infinite funds for it to work. I've been able to make profits using martingale, but I've also lost doing so. It might be a better strategy than any other, but it's no guarantee, that's all I'm saying.

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June 24, 2014, 07:26:05 PM
 #95

It's gambling. You can't say "it works" or "it doesn't work". To some extent, it does work, just like betting all your life savings on a 50% roll might also work, and it might fail. What you can say for sure however, is that it's not guaranteed to make you a profit.
However, you can make the probability that you will make a profit as high as you want -- 99.9% if you like. The tradeoff is that the profit you will make will be very small relative to the amount you will lose in that 0.1% case. (This is true even if the house imposes relatively low limits. You just need to make some small tweaks to the system. However, it will mean that you may need to play for a *very* long time.)

Not only that. The chance of hitting your profit target (say, 20% or 100% profit) is indeed lower with martingale.
You can find a very long discussion on this in the thread https://bitcointalk.org/index.php?topic=610339.0.

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June 24, 2014, 07:40:09 PM
 #96

there is a good casino with a bot that works for unlimited time?
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June 24, 2014, 11:57:35 PM
 #97

there is a good casino with a bot that works for unlimited time?
Primedice has automated betting. You can easily try martingale there, just fill out the right numbers and decide how many rolls you want to automate.

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June 25, 2014, 12:34:44 AM
 #98

Its worth trying, alot of fun, but dont cry when its all over Smiley

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June 25, 2014, 12:40:28 AM
 #99

Martingale system sucks due to the 1% house. So don't do it.

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June 25, 2014, 01:16:30 AM
 #100

It's gambling. You can't say "it works" or "it doesn't work". To some extent, it does work, just like betting all your life savings on a 50% roll might also work, and it might fail. What you can say for sure however, is that it's not guaranteed to make you a profit.
However, you can make the probability that you will make a profit as high as you want -- 99.9% if you like. The tradeoff is that the profit you will make will be very small relative to the amount you will lose in that 0.1% case. (This is true even if the house imposes relatively low limits. You just need to make some small tweaks to the system. However, it will mean that you may need to play for a *very* long time.)
Meaning you'd need infinite funds for it to work. I've been able to make profits using martingale, but I've also lost doing so. It might be a better strategy than any other, but it's no guarantee, that's all I'm saying.
You would need infinite funds for it to work with 100% certainty (you would also need an unlimited house limit).

As long as your bankroll and the house limit is sufficiently above the minimum wager then you have a decent chance of winning. 

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June 25, 2014, 05:04:31 AM
 #101

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.


The strategy has proven to not work.
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June 25, 2014, 05:14:02 AM
 #102

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

I just don't understand why people are developing a lot of scripts and wasting a lot of time coding to exploit a FAUCET. Yes, freebitco.in is ofcourse a faucet. And the answer to your question - Martingale will always give you loss unless and until you have infinite money to lose. And surely you don't have that because that is the reason you are visiting a faucet.
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June 25, 2014, 08:48:39 AM
 #103

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

I just don't understand why people are developing a lot of scripts and wasting a lot of time coding to exploit a FAUCET. Yes, freebitco.in is ofcourse a faucet. And the answer to your question - Martingale will always give you loss unless and until you have infinite money to lose. And surely you don't have that because that is the reason you are visiting a faucet.

It won't always give you a loss. In fact, I won big the first two times I used it, but that was just luck. If you carry on using it you will lose. As with all gambling it's knowing when to quit whilst you're ahead.
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June 25, 2014, 09:11:50 AM
 #104

How much did you win? And did you lose eventually?  Grin

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June 25, 2014, 09:28:08 AM
 #105

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

I just don't understand why people are developing a lot of scripts and wasting a lot of time coding to exploit a FAUCET. Yes, freebitco.in is ofcourse a faucet. And the answer to your question - Martingale will always give you loss unless and until you have infinite money to lose. And surely you don't have that because that is the reason you are visiting a faucet.

It won't always give you a loss. In fact, I won big the first two times I used it, but that was just luck. If you carry on using it you will lose. As with all gambling it's knowing when to quit whilst you're ahead.

You clearly do not know what the Martingale system is if you are winning big.  You are supposed to bet small, but repetively and keep nipping away until you win, then restart at a small bet.  Perhaps you meant you went onto 10 rounds of fail and then won, in which case you actually came close to completely failing.

So sad that people can't even enjoy gambling without having a system now lol. Gonna hit the craps table again.  Last time some old geyser tossed my wife a $1k coin at Wynn for being hot roller - easiest money we ever made  Grin
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June 25, 2014, 10:08:39 AM
 #106

Um, no. I won big using the martingale system. Why are you so against people making money this way? I didn't say it was foolproof. Any way is a gamble and throwing your money at it the 'regular' way isn't exactly safer or even more 'fun'. I'd recommend people not even gamble at all to be honest.
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June 25, 2014, 10:53:49 AM
 #107

it will never work you end up losing all bankroll in 24 losing streak which happen in 500k roll .
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June 25, 2014, 11:14:12 AM
 #108

WHat about this, http://en.wikipedia.org/wiki/Kelly_criterion? Has anyone tried it before?


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June 25, 2014, 11:52:26 AM
 #109

WHat about this, http://en.wikipedia.org/wiki/Kelly_criterion? Has anyone tried it before?

I don't think there's any foolproof methods with games of chance. If there was casinos would be out of business.

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June 25, 2014, 12:27:11 PM
 #110

WHat about this, http://en.wikipedia.org/wiki/Kelly_criterion? Has anyone tried it before?

I don't think there's any foolproof methods with games of chance. If there was casinos would be out of business.

you have a point there sir. I think there is no really easy way and i think that the faucet can detect if im using the system. hmmm
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June 25, 2014, 06:36:29 PM
 #111

We have developed new betting script for freebitco.in.
It is NOT based on Martingale's strategy, and it can be used for gambling with any
multiplier.
It showed better results than our previous Martingale based script, so far.
Script can be found here http://phptaskforce.net/rabbitscript

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June 25, 2014, 06:38:41 PM
 #112

every martingale system will fail you, because you dont have a infinite amount of bank roll.

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June 25, 2014, 06:48:22 PM
 #113

But what if you do?  Cheesy And any amount of gambling will fail you eventually.
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June 25, 2014, 07:29:30 PM
 #114

Its more like martinfail.

Think about it for a sec, if it worked, then everyone would be doing this..
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June 26, 2014, 12:30:14 AM
 #115

WHat about this, http://en.wikipedia.org/wiki/Kelly_criterion? Has anyone tried it before?

I don't think there's any foolproof methods with games of chance. If there was casinos would be out of business.
You can count cards in blackjack. This will give you a slight positive EV for each bet.

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June 26, 2014, 02:07:29 AM
 #116

WHat about this, http://en.wikipedia.org/wiki/Kelly_criterion? Has anyone tried it before?

I don't think there's any foolproof methods with games of chance. If there was casinos would be out of business.

If you check the page carefully, you will see the kelly criterion tells you to never play in games with negative expected value. Cheesy

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June 26, 2014, 02:15:18 AM
 #117

Um, no. I won big using the martingale system. Why are you so against people making money this way? I didn't say it was foolproof. Any way is a gamble and throwing your money at it the 'regular' way isn't exactly safer or even more 'fun'. I'd recommend people not even gamble at all to be honest.

Perhaps you and I have different meanings of the word "big". Big to me would be going in with 1k and walking out with 10K.

If that's what happened with you, then you must have bet 1K 10 times.  But mind you that if you lost the first bet, you're out  - that's not really using the Martingale system.  If you did the press system in such a scenario you would have won 1k2^10 or $1 million.

Please read any book on Martingale - the system relies on small bets that are repeated over and over.  it's very monotonous.  You can very easily come out ahead, but you don't win big like you would if you pressed your earnings.
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June 26, 2014, 03:52:33 AM
 #118

Martingale has proven time and time again to get people to go broke. Better system is to start with 1 unit and increase after every win by 1 unit. If you get on a hot streak, you might be on to something good!

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June 26, 2014, 05:39:41 AM
 #119

Martingale has proven time and time again to get people to go broke. Better system is to start with 1 unit and increase after every win by 1 unit. If you get on a hot streak, you might be on to something good!
You can get a lose streak. If you do it like this even after you are in a very long lose streak, you would probably not going to be recovering from that loss.

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June 26, 2014, 09:44:48 AM
 #120

Just tried this martingale crap.  You win a little and can sometimes double your earnings but I usually go bust before I have tripled them.

Better off doubling winnings
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June 26, 2014, 09:55:41 AM
 #121

Please read any book on Martingale - the system relies on small bets that are repeated over and over.  it's very monotonous.  You can very easily come out ahead, but you don't win big like you would if you pressed your earnings.

They have books written about this?

Why anyone would write (or buy) a book about a "system" that doesn't work is beyond me.
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June 26, 2014, 10:01:10 AM
 #122

Martingale system sucks due to the 1% house. So don't do it.

No matter which system you use, the house edge stays the same. However with martingale you either win big or lose bigger.

With flat bets you either win small or lose small.

So its all about the amount of risk you like to take.

Please read any book on Martingale - the system relies on small bets that are repeated over and over.  it's very monotonous.  You can very easily come out ahead, but you don't win big like you would if you pressed your earnings.

They have books written about this?

Why anyone would write (or buy) a book about a "system" that doesn't work is beyond me.

Peope make money with selling scams all the time, selling a book about martingale is no dofferent.
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June 26, 2014, 12:30:18 PM
 #123

if you wanna beat the casino, go to card games, blackjack and poker mostly. Not roulette, not dices, no martingale


Even a brand new user like me knows that
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June 26, 2014, 12:38:58 PM
 #124

brand new to bitcoin maybe, not brand new to statistical probability most likely.

you'd be amazed how few people know about probability.
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June 26, 2014, 03:53:33 PM
 #125

Probability is a tricky branch of mathematics. But once you mastered it you will be highly regarded and could earn lots of money with it.
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June 26, 2014, 04:22:47 PM
 #126

Please read any book on Martingale - the system relies on small bets that are repeated over and over.  it's very monotonous.  You can very easily come out ahead, but you don't win big like you would if you pressed your earnings.

They have books written about this?

Why anyone would write (or buy) a book about a "system" that doesn't work is beyond me.
it isn't so much a "system" but rather a probability concept

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June 26, 2014, 04:59:06 PM
 #127

Please read any book on Martingale - the system relies on small bets that are repeated over and over.  it's very monotonous.  You can very easily come out ahead, but you don't win big like you would if you pressed your earnings.

They have books written about this?

Why anyone would write (or buy) a book about a "system" that doesn't work is beyond me.

And to your surprise, there are more than one person in the service section asking people to "invest" in them, because they have a "winning strategy" in dice games. Tongue

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June 27, 2014, 12:03:55 AM
 #128

Martingale system works only if you have unlimited fund, but if you have unlimited fund you don't need to gamble.

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June 27, 2014, 12:32:20 AM
 #129

Martingale system works only if you have unlimited fund, but if you have unlimited fund you don't need to gamble.
It does not work as anytime you will every gamble the "house" will have some kind of edge. This is how they make money and why they provide their "service" of allowing you to gamble away your money.

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June 27, 2014, 03:37:35 AM
 #130

So if martingale is literally gambling i wont bother trying it. Gambling never worked for me.
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June 27, 2014, 08:41:22 AM
 #131

Why is this thread so popular?  Grin  People looking for easy money.

Amazon has a couple of good reads on betting systems, I read one on the way to Vegas once and laughed.

If you want to win, find a casino off the strip and play single or double deck blackjack.

I am no longer allowed to gamble at Bellagio or it's affiliates, I'll just leave it at that  Grin
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June 27, 2014, 12:43:18 PM
 #132

I am no longer allowed to gamble at Bellagio or it's affiliates, I'll just leave it at that  Grin

Hope it is because you win too much with your skills, rather than getting caught of cheating lol. Tongue
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June 27, 2014, 05:03:41 PM
 #133

No system can guarantee you profit from casino.
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June 27, 2014, 07:12:50 PM
 #134


No matter which system you use, the house edge stays the same. However with martingale you either win big or lose bigger.


Not true - you do not win big with the Martingale system, do the math. As you keep doubling down you are only ahead by the amount of your original bet. So when you finally win, you only win the amount of the first bet. When you lose, you can lose your entire bankroll. Since people can't seem to understand this on this thread, here is an example following the Martingale system (doubling your bet after every loss):

Bet 1: 5
Result: Lose
Loss/profit so far: -5

Bet 2: 10
Result: Lose
Loss/profit so far: -15

Bet 3: 20
Result: Lose
Loss/profit so far: -35

Bet 4: 40
Result: Lose
Loss/profit so far: -75

Bet 5: 80
Result: Lose
Loss/profit so far: -155

Bet 6: 160
Result: Win
Loss/profit so far: 5


So you can see that you end up putting down bets as high as 160 (and risking over 300) just to earn 5 in the end. And if the bet maximum would have been 100 for example, this person would have been screwed, just to try and earn 5.

Martingale is a crap system. End this thread.


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June 27, 2014, 07:34:54 PM
 #135

Why is this thread so popular?  Grin  People looking for easy money.

Amazon has a couple of good reads on betting systems, I read one on the way to Vegas once and laughed.

If you want to win, find a casino off the strip and play single or double deck blackjack.

I am no longer allowed to gamble at Bellagio or it's affiliates, I'll just leave it at that  Grin

Bitcoin gambling went on fire, that's why it's popular. Can you explain why you are banned from Bellagio ? Do they use only 4 sets of cars for Blackjack?

Bitcoin is DEAD
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June 27, 2014, 09:52:37 PM
 #136


No matter which system you use, the house edge stays the same. However with martingale you either win big or lose bigger.


Not true - you do not win big with the Martingale system, do the math. As you keep doubling down you are only ahead by the amount of your original bet. So when you finally win, you only win the amount of the first bet. When you lose, you can lose your entire bankroll. Since people can't seem to understand this on this thread, here is an example following the Martingale system (doubling your bet after every loss):

Bet 1: 5
Result: Lose
Loss/profit so far: -5

Bet 2: 10
Result: Lose
Loss/profit so far: -15

Bet 3: 20
Result: Lose
Loss/profit so far: -35

Bet 4: 40
Result: Lose
Loss/profit so far: -75

Bet 5: 80
Result: Lose
Loss/profit so far: -155

Bet 6: 160
Result: Win
Loss/profit so far: 5


So you can see that you end up putting down bets as high as 160 (and risking over 300) just to earn 5 in the end. And if the bet maximum would have been 100 for example, this person would have been screwed, just to try and earn 5.

Martingale is a crap system. End this thread.



What i mean is that for example if you would have 1000 persons and each of these 1000 persons would have $255 and they make bets of $1 and use martingale. And each person would make 100 bets, than either they would make about $50 or they would lose everything. If you combines all the value than the net. result is a loss (if we assume a house edge). But some of the individuals may have gained a large profit, much larger than anyone could ever get by betting flat rate.

What i am saying is that the expected profit with any system or betting pattern does not increase, but that does not mean the distribution does not change. In fact all the martingale system does is increase the spread of the distribution moving it from a normal distribution to something else entirely.



as you can clearly see, both the chance of winning as well as the amount won increases a lot by using martingale, however the downside is that when you lose, you lose big. While with flat betting you either lose a little or win a little, the results are much more controlled. However no matter which system you use the expected profit is ALWAYS 100%-house edge
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June 28, 2014, 12:20:16 AM
 #137

What about the freedogeco.in? you get about 5-6 doge and betting with martingale wouldn't be so bad. Min bet to be like 0.02 or safer 0.001 and leave the bot to loop over night. Lesser chances to go bankrupt and there is a chance on the long runs.


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June 28, 2014, 04:03:22 AM
 #138

Martingale will fail every time. But once, on some free PrimeDice rolls, I grinded it up to over .15 (from like .02) and eventually turned it into > 1 BTC from trading alts.

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June 28, 2014, 05:32:29 AM
 #139

is it really worth the try. i'm curious about it and want to try it on freebitco.in. I also found a script online.

No it is not worth a try at all....
think about it, after three losses you are risking 8x your base bet just to win that amount
if you are going to martingale, start smaller and use 2.5x payouts so at least the more you lose, the more you win unlike martingale you simply win your base bet amount
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June 28, 2014, 05:45:58 AM
 #140

What about the freedogeco.in? you get about 5-6 doge and betting with martingale wouldn't be so bad. Min bet to be like 0.02 or safer 0.001 and leave the bot to loop over night. Lesser chances to go bankrupt and there is a chance on the long runs.
Your returns would be too low, one doge is around 60 satoshis, at this rate you can make around 100Satoshi, if you are fast with a very very high chance of busting. In the long run nothing works, the house edge there is even higher than other places.

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June 28, 2014, 08:09:00 AM
 #141

Why is this thread so popular?  Grin  People looking for easy money.

Amazon has a couple of good reads on betting systems, I read one on the way to Vegas once and laughed.

If you want to win, find a casino off the strip and play single or double deck blackjack.

I am no longer allowed to gamble at Bellagio or it's affiliates, I'll just leave it at that  Grin

Bitcoin gambling went on fire, that's why it's popular. Can you explain why you are banned from Bellagio ? Do they use only 4 sets of cars for Blackjack?

When I was younger they used to have single to quad deck tables.  It's very easy to count.  Obviously you need to be quick with the math, but it comes with practice.  I am still allowed to stay there, I just can't get a rewards card from Hilton and I am effectively banned from the higher tables.

It's OK though, craps has pretty good odds as long as you're not playing snake eyes or something like that.
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June 29, 2014, 07:45:03 AM
 #142

i dont think that martingale works so dont lose you money just keep it and use it.. or if you want to lose send to me :d joking ..
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June 30, 2014, 01:39:15 AM
 #143

What about the freedogeco.in? you get about 5-6 doge and betting with martingale wouldn't be so bad. Min bet to be like 0.02 or safer 0.001 and leave the bot to loop over night. Lesser chances to go bankrupt and there is a chance on the long runs.
Your returns would be too low, one doge is around 60 satoshis, at this rate you can make around 100Satoshi, if you are fast with a very very high chance of busting. In the long run nothing works, the house edge there is even higher than other places.
The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

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June 30, 2014, 04:31:34 AM
 #144

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

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June 30, 2014, 11:09:21 AM
 #145

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

The more you play the more you lose because the casino has an edge. Period. Gamble responsably to have fun and enjoy while it lasts Wink

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June 30, 2014, 11:24:09 AM
 #146

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

The more you play the more you lose because the casino has an edge. Period. Gamble responsably to have fun and enjoy while it lasts Wink

+1.
With 1% house edge, you would lose 1% of your total wagered amount on average.
With the martingale strategy, you are going to risk a high amount for a small profit, and so the total wagered amount would be huge.

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July 01, 2014, 02:48:05 AM
 #147

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

The more you play the more you lose because the casino has an edge. Period. Gamble responsably to have fun and enjoy while it lasts Wink
Unfortunately this is true, as a lot of people try to use martingale when the odds are not truly 50/50 that they will win their bet.
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July 01, 2014, 03:52:52 AM
 #148

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

The more you play the more you lose because the casino has an edge. Period. Gamble responsably to have fun and enjoy while it lasts Wink

+1.
With 1% house edge, you would lose 1% of your total wagered amount on average.
With the martingale strategy, you are going to risk a high amount for a small profit, and so the total wagered amount would be huge.
Every bet that you bet using martingale will earn the casino on average of 1% of your bet. As your bets get bigger and bigger the casino will simply make more off of your betting.

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July 01, 2014, 04:02:52 AM
 #149

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

The more you play the more you lose because the casino has an edge. Period. Gamble responsably to have fun and enjoy while it lasts Wink

+1.
With 1% house edge, you would lose 1% of your total wagered amount on average.
With the martingale strategy, you are going to risk a high amount for a small profit, and so the total wagered amount would be huge.
Every bet that you bet using martingale will earn the casino on average of 1% of your bet. As your bets get bigger and bigger the casino will simply make more off of your betting.

Thats what they call edge on the house , house edge will take you down .

No matter how much you have unless unlimited fund you will go broke in 24 streak that happen once in 500k roll .
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July 01, 2014, 03:49:56 PM
 #150

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

The more you play the more you lose because the casino has an edge. Period. Gamble responsably to have fun and enjoy while it lasts Wink

+1.
With 1% house edge, you would lose 1% of your total wagered amount on average.
With the martingale strategy, you are going to risk a high amount for a small profit, and so the total wagered amount would be huge.
Every bet that you bet using martingale will earn the casino on average of 1% of your bet. As your bets get bigger and bigger the casino will simply make more off of your betting.

Thats what they call edge on the house , house edge will take you down .

No matter how much you have unless unlimited fund you will go broke in 24 streak that happen once in 500k roll .


Even if you have unlimited fund, you can't get more than 21 million bitcoin lol. Cheesy

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July 01, 2014, 04:02:19 PM
 #151

Recently tried a modified Martingale script of freebitco.in (not the regular one you can find anywhere). Worked out great to begin with, made constant profit, until I wanted the script to bet faster. I increased the speed by tons, and sure enough, turns out in the end you lose, no matter what. All earnings were gone within 30 seconds.
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July 01, 2014, 04:19:31 PM
 #152

I like the martingale system in which you increase the bet a little bit more than 1x each time you loose. Additionally, I never double my bet after the first loss, I just keep it at the same amount, to get back the money from the original bet. Any thoughts on this?
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July 01, 2014, 04:30:47 PM
 #153

I like the martingale system in which you increase the bet a little bit more than 1x each time you loose. Additionally, I never double my bet after the first loss, I just keep it at the same amount, to get back the money from the original bet. Any thoughts on this?
Even if you win half of the times betting at 50% the house has an edge meaning you don't get paid exactly as much as you spend, so that's not a strategy that's gonna give you any profits.
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July 01, 2014, 07:20:40 PM
 #154

I like the martingale system in which you increase the bet a little bit more than 1x each time you loose. Additionally, I never double my bet after the first loss, I just keep it at the same amount, to get back the money from the original bet. Any thoughts on this?


Probably you'll lose money, even if you win before bursting, depending on how small is the 1.x. Your gain will be equal to your your first bet, if you make the first bet right, and less and less in the following ones, but your lose still will be exponential, and you still will wish to die when you burst.
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July 01, 2014, 11:17:53 PM
 #155

Better you take care of your money. Don't even start to gamble because if sometime you will get Millions of BTC you will loose it on gambling Wink advice
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July 01, 2014, 11:31:56 PM
 #156

If this did really work there would be no gambling sites because they would be bankrupt because everyone would be using this method.

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July 02, 2014, 04:37:46 PM
 #157

I like the martingale system in which you increase the bet a little bit more than 1x each time you loose. Additionally, I never double my bet after the first loss, I just keep it at the same amount, to get back the money from the original bet. Any thoughts on this?
This is not the Martingale system, it is just another gambling strategy that will ultimately result in your losing your entire bankroll

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July 02, 2014, 04:48:42 PM
 #158

If this did really work there would be no gambling sites because they would be bankrupt because everyone would be using this method.
Gambling sites do lose a lot of money due to people gambling using the Martingale system. In fact, the majority of people who use the Martingale system properly will make money. There are gambling sites that have more losing days than winning days because they have a lot of customers who are using Martingale correctly.

Of course, they win a lot more. And when they have winning days, the amounts they win are *much* greater than the amounts they lose. That's what Martingale does. It's like a reverse lottery where the house gives you $1, but one in a million times they blow up your house, kill your children, and cut off a few of your fingers. (Perhaps the Hunger Games are a better analogy.)



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July 03, 2014, 04:22:46 AM
 #159

If this did really work there would be no gambling sites because they would be bankrupt because everyone would be using this method.
Gambling sites do lose a lot of money due to people gambling using the Martingale system. In fact, the majority of people who use the Martingale system properly will make money. There are gambling sites that have more losing days than winning days because they have a lot of customers who are using Martingale correctly.

Of course, they win a lot more. And when they have winning days, the amounts they win are *much* greater than the amounts they lose. That's what Martingale does. It's like a reverse lottery where the house gives you $1, but one in a million times they blow up your house, kill your children, and cut off a few of your fingers. (Perhaps the Hunger Games are a better analogy.)
Do you have a source on this?

The Martingale system can effectively be countered by a small spread between the minimum and maximum bet size allowed. 7

For example, if the min bet was .01 BTC and the max bet was 1.0BTC then the gambler would only need a loosing streak of 7 in order to fail. After the 7th loss the better will have just placed a bet of .64BTC and would need to bet 1.28BTC in order to continue using the system properly. If they only bet 1BTC and win then they would still be down .28BTC

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July 03, 2014, 04:33:37 PM
 #160

Do you have a source on this?
Several conversations with small gambling site operators.

Quote
The Martingale system can effectively be countered by a small spread between the minimum and maximum bet size allowed. 7

For example, if the min bet was .01 BTC and the max bet was 1.0BTC then the gambler would only need a loosing streak of 7 in order to fail. After the 7th loss the better will have just placed a bet of .64BTC and would need to bet 1.28BTC in order to continue using the system properly. If they only bet 1BTC and win then they would still be down .28BTC
By "Martingale", I don't just mean the classic Martingale system but any progressive betting system whose purpose is to drastically decrease the gambler's probability of losing. The counter to having a small spread is the d'Alembert system.
http://wizardofodds.com/gambling/betting-systems/cancellation/

With a progressive system, you can reduce your chances of losing to be about as low as you like. It follows necessarily that the house's chance of losing can be pushed as high as you'd like. The cost, of course, is the amount you win gets small and the amount you lose, should you lose, gets very, very, very high.

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July 03, 2014, 06:09:46 PM
 #161

I have been told that martingale end up with losing everything  Sad
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July 04, 2014, 07:40:01 AM
 #162

If this did really work there would be no gambling sites because they would be bankrupt because everyone would be using this method.
Gambling sites do lose a lot of money due to people gambling using the Martingale system. In fact, the majority of people who use the Martingale system properly will make money. There are gambling sites that have more losing days than winning days because they have a lot of customers who are using Martingale correctly.

Of course, they win a lot more. And when they have winning days, the amounts they win are *much* greater than the amounts they lose. That's what Martingale does. It's like a reverse lottery where the house gives you $1, but one in a million times they blow up your house, kill your children, and cut off a few of your fingers. (Perhaps the Hunger Games are a better analogy.)



I would dispute this. If the house has an edge of n% then on average the house will make n% off of every bet that is wagered assuming that the gambler is not somehow cheating or manipulating the system

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July 04, 2014, 09:13:29 AM
 #163

If this did really work there would be no gambling sites because they would be bankrupt because everyone would be using this method.
Gambling sites do lose a lot of money due to people gambling using the Martingale system. In fact, the majority of people who use the Martingale system properly will make money. There are gambling sites that have more losing days than winning days because they have a lot of customers who are using Martingale correctly.

Of course, they win a lot more. And when they have winning days, the amounts they win are *much* greater than the amounts they lose. That's what Martingale does. It's like a reverse lottery where the house gives you $1, but one in a million times they blow up your house, kill your children, and cut off a few of your fingers. (Perhaps the Hunger Games are a better analogy.)


Well, if I am going to make one 98% bet every day for 100 days in PD, I could expect to have 98 "winning days" and only 2 "losing days" on average, but at the same time expect to lose 1% of my bet amount due to the 1% house edge.  Smiley

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July 04, 2014, 09:20:42 AM
 #164

I don't gamble but I've seen friends online lose a lot of money using martingale on dice
Usually starts with "oh hey look at me making lots of money with this cool new method"
Ends up losing a ton of money
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July 04, 2014, 08:05:31 PM
 #165

I have been told that martingale end up with losing everything  Sad

People usually do because they don't quit whilst they're ahead and get greedy and keep going until they've lost it all.
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July 04, 2014, 08:53:59 PM
 #166

I have been told that martingale end up with losing everything  Sad

People usually do because they don't quit whilst they're ahead and get greedy and keep going until they've lost it all.

The first bet that you win you are ahead.  Most people will not quit after winning just one bet.

Try martingale on PD during Happy Hour and see how hard it is to get to 50K.  I tried for 3 happy hours and finally succeeded only to have the autobet continue 7 more rounds and lose almost everything.
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July 04, 2014, 10:07:09 PM
 #167

I have been told that martingale end up with losing everything  Sad

People usually do because they don't quit whilst they're ahead and get greedy and keep going until they've lost it all.
Well the thing is that with martingale gamblers will need to go from potentially being up a small amount to being down a lot to make up their last lost bet

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July 05, 2014, 03:05:06 AM
 #168

I have been told that martingale end up with losing everything  Sad

People usually do because they don't quit whilst they're ahead and get greedy and keep going until they've lost it all.
Well the thing is that with martingale gamblers will need to go from potentially being up a small amount to being down a lot to make up their last lost bet

It starts well and ends terrible...that's usually how martingale works
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July 05, 2014, 03:25:11 AM
 #169

I have been told that martingale end up with losing everything  Sad

People usually do because they don't quit whilst they're ahead and get greedy and keep going until they've lost it all.
Well the thing is that with martingale gamblers will need to go from potentially being up a small amount to being down a lot to make up their last lost bet

It starts well and ends terrible...that's usually how martingale works

But if it starts well, then why not stop and then do it again.

Build the balance in small increments or cash out each time so it adds up?
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July 05, 2014, 08:37:55 AM
 #170

I have been told that martingale end up with losing everything  Sad

People usually do because they don't quit whilst they're ahead and get greedy and keep going until they've lost it all.
Well the thing is that with martingale gamblers will need to go from potentially being up a small amount to being down a lot to make up their last lost bet

It starts well and ends terrible...that's usually how martingale works

But if it starts well, then why not stop and then do it again.

Build the balance in small increments or cash out each time so it adds up?

As I said above, you're up after 1 winning bet.  But who quits after 1 bet?  The answer is nobody.  The second bet might very well be the one that breaks your bank.  If you cash it out the odds are in casino's favor so you will most likely go bust before earning back your initial roll-out.
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July 05, 2014, 03:17:48 PM
 #171


It starts well and ends terrible...that's usually how martingale works

But if it starts well, then why not stop and then do it again.

Build the balance in small increments or cash out each time so it adds up?

And eventually, you would just lose all your balance with a long losing streak.

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July 05, 2014, 03:27:35 PM
 #172


It starts well and ends terrible...that's usually how martingale works

But if it starts well, then why not stop and then do it again.

Build the balance in small increments or cash out each time so it adds up?

And eventually, you would just lose all your balance with a long losing streak.
Cashing out or building it in small increments doesn't help at all,  it does not affect the variance and in some time, you will eventually bust.

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July 05, 2014, 03:29:47 PM
 #173

Cashing out or building it in small increments doesn't help at all,  it does not affect the variance and in some time, you will eventually bust.

It will just cost you more tx fee for your withdrawals and re-deposits. Smiley

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July 05, 2014, 03:38:21 PM
 #174


It starts well and ends terrible...that's usually how martingale works

But if it starts well, then why not stop and then do it again.

Build the balance in small increments or cash out each time so it adds up?

And eventually, you would just lose all your balance with a long losing streak.

Hence a good strategy is use martingale and stop while you are ahead.
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July 05, 2014, 03:42:17 PM
 #175


It starts well and ends terrible...that's usually how martingale works

But if it starts well, then why not stop and then do it again.

Build the balance in small increments or cash out each time so it adds up?

And eventually, you would just lose all your balance with a long losing streak.

Hence a good strategy is use martingale and stop while you are ahead.

It is possible, although slim to lose out in the short run, there is still a small risk to bust.