Martingale System

[hilariousandco]

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.

[1713276651]

1713276651

[gondel]

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
Gondel

[Dr. Pepper]

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

[zimmah]

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

[Armed]

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.

[JoelKatz]

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.)

[DrG]

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. 

[Justin00]

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. 

[Malin Keshar]

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

[Soappa]

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.

[Soappa]

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. 

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.

[Malin Keshar]

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

[Soappa]

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.

[Armed]

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.

[Soappa]

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.

[drugo]

there is a good casino with a bot that works for unlimited time?

[Armed]

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.

[Rub3n]

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

[beegatewood]

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

[Harley997]

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.