Beat a dice site using martingale

[MadZ]

Is there anyone that has thought about beating a dice site using martingale?

It's a +EV strategy only if you have an infinite bankroll

It might even be a +EV strategy if your bankroll can take 35 streak of losses. Never heard anymore, and have done a few simulations.
Never came over that, but that might also mean that your first bet would be like 1 satoshi, which would be pointless.

There is no +EV strategy for gambling. Perhaps if you had a greater bankroll than the house, but this is limited by a limit on your maximum bet return.

It will still have a negative EV, no matter how much gambling fund you have.
And what is the point of gambling if you have an infinite bankroll lol?

You're right, I'm not sure why I mentioned the possibility of a positive EV strategy, I wasn't thinking when I wrote that. What I meant is that if you have a greater bankroll than the house, you could have a greater chance of beating the house than busting, although it would still be -EV. This doesn't work in practice though since there is usually a maximum % of the house's bankroll that can be won per bet.

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[mindrust]

be in your mind; 1 satoshi bet becomes 343.5btc after 35 times of loses.

I personally experienced 20 reds in a row on a x2 bet. And considering the most dice sites pay 20-30btc max, you can only lose 30times and you must win the 31st, if you lose the 31st bet you can always cry in a corner silently. i will be there to pat your shoulder.

and after all, even if you win you ll get only 1 sato:D:D

[Amun]

Using Martingale is like playing Russian Roulette. Each time you pull the trigger and the gun doesn't go off you win a little bit. At the very least you want to use some statistical analysis or Monte Carlo simulations to figure how long you can go before the next play gives you N% chance of you wiping out your account. The smaller your starting bet and the bigger your account, the more empty chambers the the revolver has.

best example ever 

[chiefraven]

I used martingale on pd, and it sucked lol.

trust me dont use it, if anything you`ll grow the balance by a bit not a lot.

[ligeros]

the method of doubling every loss.. it would matter based on the size of your bank roll.

i mean it works for short term though, this is my observation.

maybe if you have 1,000BTC bankroll and do basebet of .001 

this bankroll is not enough for this basebet
20 streak of losses will take 1048.576 BTC
and 20 streak of losses is very possible

[unamis76]

Impossible, unless the site has flaws...

[omahapoker]

 I do ok on it. just have to know when to bet, stop, bet more

[koshgel]

Is there anyone that has thought about beating a dice site using martingale?

If it was possible then every dice site would be broke. Best strategy is to hit and run with maybe a modified martingale

[philiveyjr]

Did it many times. But eventually you will loose.

Martingale at PD? Come on.... There is no chance.

LOL...yeah.!! there must be millions of ppl who have tried and failed miserably on PD martingaling.! GL..whoever is planing to try it in the future!

[Peter882]

Even though I know very well that martingale (and any other so called strategies) doesn't work mathematically and realistically, I still can't resist in using it sometimes and end up losing my bitcoin.

[steadyeddie]

Here's an interesting piece of information; the longest recorded streak of one color in roulette is supposedly 32 times in an American casino (sorry, no source).

That would mean that if you would apply Martingale and bet 1 milli-bitcoin (0.001 BTC) on the losing color for that particular outcome you would be about 2 147 483 BTC down the hole at the end.

[Jerome?]

Did it many times. But eventually you will loose.

Martingale at PD? Come on.... There is no chance.

LOL...yeah.!! there must be millions of ppl who have tried and failed miserably on PD martingaling.! GL..whoever is planing to try it in the future!

PD sucks!

You will eventually end up losing.

[leex1528]

I don't know if people realize this or not, but dice sites all have a house edge.  Which means the more games you play, the more likely you are to lose.  Its simple math no matter what you do, the more you play, the more likely you are to lose.

[Bitzkrieg]

Did it many times. But eventually you will loose.

Martingale at PD? Come on.... There is no chance.

LOL...yeah.!! there must be millions of ppl who have tried and failed miserably on PD martingaling.! GL..whoever is planing to try it in the future!

PD sucks!

You will eventually end up losing.

lol me too

I couldnt get profit on it.

[bank of bits]

It's always a zero sum game if you stick it with for too long.
Gambler will not be profit at the end.

[coingamblingreviews]

I had a win turning 0.5BTC into 1BTC using my own martingale technique... check out how I did it here - http://www.coingamblingreviews.com/bitcoin-martingale-coin-sweeper/

[NeuroticFish]

If you want to use that technique you'll have to start with big money and do very small bets. This will give you a chance if you'll lose 10 or even 20 in a row.
But what happens if (I know, the chance is small, but it CAN happen!) you lose 30 in a row?

Conclusion: try to not play more than you afford to lose and take it like a game, not as an investment (invertment, lol!)

[finlon]

Did it many times. But eventually you will loose.

Martingale at PD? Come on.... There is no chance.

LOL...yeah.!! there must be millions of ppl who have tried and failed miserably on PD martingaling.! GL..whoever is planing to try it in the future!

PD sucks!

You will eventually end up losing.

lol me too

I couldnt get profit on it.

That doesnt men it sucks. You just had bad luck on the site. Having bad luck on a site doesnt make it bad.

[fildza]

Never use martingle. You will lose all of your money someday. The lose streak can be more than 10+ times

[NeuroticFish]

Did it many times. But eventually you will loose.

Martingale at PD? Come on.... There is no chance.

LOL...yeah.!! there must be millions of ppl who have tried and failed miserably on PD martingaling.! GL..whoever is planing to try it in the future!

PD sucks!

You will eventually end up losing.

lol me too

I couldnt get profit on it.

That doesnt men it sucks. You just had bad luck on the site. Having bad luck on a site doesnt make it bad.

Primedice seem to "provide" more long losing streaks than other gambling sites.
But primedice also has more players than most other gambling sites and maybe that does matter...

The funny part is that I expect that most of the players complaining about primedice actually try to get rich gambling the faucet money.