Beat a dice site using martingale

[wangxinxi]

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

[cryptocoiner]

Did it many times. But eventually you will loose.

[BitCoinPokerBro]

With gambling it's always best to learn a game requiring skill such as poker or trading markets rather risking money on fixed odds.

[captainwire]

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.

[Clint]

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 

[caga]

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

You cannot beat a gambling site in the long run. Apart from getting a losing streak there is also a factor of bankroll decreasing,
due to which bankroll decreases and this could be bad for the gambler in some ways.

[tjh11]

Here's the thing with the martingale system:
1, it works in the short term, by prolonging the losses
and 2, you don't lose as much when using the martingale, however, when you win, the wins are smaller and when you lose, the losses are massive.

So if you want to use the martingale, especially on a dice site, here's what I suggest:

Go in with a small amount of money relative to your total bankroll. You should go in with max, 2.5% of your total bankroll.  Your goal will be to win a reasonable amount of money relative to what you went in with, (anywhere from 10-50% ROI).  If you lose, however, prepare to lose everything that you went in with.  That's why you only go in with a tiny amount relative to your total bankroll.  

Don't stop rolling the dice until you've hit your reasonable win goal.

The point of this simple strategy is to take advantage of the fact that you don't see a really long losing streak all that often, so when you do happen to hit one, (and it will happen, trust me) you'll only lose a small amount of money relative to your bankroll.  Hopefully, you can get enough of those winning sessions to outweigh the losses.

[sandykho47]

Martingale is work if you do it for short term & have a lot money to start
And about 1% from your bankroll for starter

Most user like martingale, that's why there are many dice site now

[Soros Shorts]

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.

[ndnh]

Assume I got 100000 BTC.

I start doing martingale from 1 BTC.
I will lose out, because I will reach a point in which the bet I should be playing will be greater than the max bet allowed in the particular site.
Plus, there is an additional problem of house edge.

So, your expected return is negative, at least in theory.

Personally, I never use martingale, and I am not interested in dice sites too.

[angeloanggam]

Did it many times. But eventually you will loose.

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

[micky123]

Assume I got 100000 BTC.

I start doing martingale from 1 BTC.
I will lose out, because I will reach a point in which the bet I should be playing will be greater than the max bet allowed in the particular site.
Plus, there is an additional problem of house edge.

So, your expected return is negative, at least in theory.

Personally, I never use martingale, and I am not interested in dice sites too.

Agreed in principle. You need an almost unlimited bankroll to be safe with Martingale (Martinfail to me ). Even if you have that kind of a huge bankroll, it is still not going to help if the site you are betting on has a lower max bet. So before you try and experiment with this (which i think would be crazy) i suggest you find a site which allows huge maxbet. You don't want to run into that maxbet wall. I have hit the maxbet wall once and believe me, it didn't feel good at all!

[DarKSpectrE]

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

[wangxinxi]

If you have much more money than the site, you will have high probability to beat the site.

[leen93]

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 

yes, then you'll win 1 mbtc 99999/100000 times and lose 1000 BTC 1 in 100.000 times

[leen93]

If you have much more money than the site, you will have high probability to beat the site.

wtf? in this case they cant pay out when you win high... this is only bad for the gambler

[wangxinxi]

If you have much more money than the site, you will have high probability to beat the site.

wtf? in this case they cant pay out when you win high... this is only bad for the gambler

If they own you money and go bankruptcy instead of running away, you will still get some profit back.

[wangxinxi]

If you have much more money than the site, you will have high probability to beat the site.

wtf? in this case they cant pay out when you win high... this is only bad for the gambler

If they own you money and go bankruptcy instead of running away, you will still get some profit back.

But I guess they will probably run away, so it's still better to gamble in an exchange, which is usually fair and secure and has much smaller house edge.

[LOBSTER]

Martingale doesn't work on long-term view. The house edge always keeps the casinos bankroll safe.

[cheekychap]

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.