How to gamble with 1 BTC

[Bardman]

If i had 1 BTC and wanted to get a profit of another BTC to have 2 bitcoins in total what would be the best way playing dice to do it?

You could just bet the whole bitcoin on 49%-50% ( depends on the house edge) and win or lose
Or you could use different strategies, now the thing is if my goal is 1 bitcoin isnt it better to just bet it on 50% rather than using martingale or any other strategy that would take a lot of time and if i understand correctly wont make me have more than 50% chance of winning

[pthnmj]

Every house has an edge, so expect to lose 1% of whatever you wager...

However you could look up the fibonacci method and play on 49% winchance

If you're good at sports and know teams very well you could also bet on sports...

Me being a gamer, I would bet on E-Sports Bets

[98problems]

in my opinion i would go 1 bitcoin all in on 50 percent chance because when i use strategies i always loose it, however its just my opinion

[EcuaMobi]

By far the best way of gambling 1 BTC is not doing it. Because of the house edge it's a negative sum game.

If you're asking just out of curiosity I'd say starting with a low bet, for example 0.05 at 50% chance. If you lose double your bet, if you win go back to 0.05.

[coinpr0n]

Every house has an edge, so expect to lose 1% of whatever you wager...

However you could look up the fibonacci method and play on 49% winchance

If you're good at sports and know teams very well you could also bet on sports...

Me being a gamer, I would bet on E-Sports Bets

What are some good Bitcoin gambling sites for sports bets? I think there was a site during the World Cup but I haven't seen it since.

[Stars]

Do as few bets as you can, it will increase the chance of profiting.

[Bardman]

By far the best way of gambling 1 BTC is not doing it. Because of the house edge it's a negative sum game.

If you're asking just out of curiosity I'd say starting with a low bet, for example 0.05 at 50% chance. If you lose double your bet, if you win go back to 0.05.

Thats martingale and statisticly is not better than betting all on 50% AND there are casinos with 0 house edge

[EcuaMobi]

By far the best way of gambling 1 BTC is not doing it. Because of the house edge it's a negative sum game.

If you're asking just out of curiosity I'd say starting with a low bet, for example 0.05 at 50% chance. If you lose double your bet, if you win go back to 0.05.

Thats martingale and statisticly is not better than betting all on 50% AND there are casinos with 0 house edge

I don't think it's possible at all having more than 50% chances to win with any method.

I insist the best method is not doing it

[98problems]

By far the best way of gambling 1 BTC is not doing it. Because of the house edge it's a negative sum game.

If you're asking just out of curiosity I'd say starting with a low bet, for example 0.05 at 50% chance. If you lose double your bet, if you win go back to 0.05.

Thats martingale and statisticly is not better than betting all on 50% AND there are casinos with 0 house edge

there are casinos with 0 house edge? never saw one maybe you can post an example would be interesting to try it out

[arallmuus]

this has been discussed before

here is the thread

https://bitcointalk.org/index.php?topic=939776.0

and this will be the best way to win 2 btc with 1 btc from the discussion of the thread

Strategy 1:
You're always playing 9900x using a martingale sequence, i.e. your wager for each round is

Code:

ceiling((2 - PLAYER_BR)/9899,1e-8)

you run out of funds after 6861 bets. You lose all of them with a probability of

Code:

0.9999^6861 = 0.5035187605260536

or put differently you have a 49.64812% chance of winning.

Strategy 2:
You're constantly playing 20203 satoshi but increase the payout each round by exactly 1x starting at 4951x which will leave you with 1.00004850 BTC profit. You run out of funds after 4949 games and your last payout will be 9899x. You lose all of them with a probability of

Code:

prod(1-0.99/i, i=4949..9899) = 0.5035283796177312

leading to a 49.64716% chance of winning.

I Hope the math is correct 

[EcuaMobi]

this has been discussed before

here is the thread

https://bitcointalk.org/index.php?topic=939776.0

and this will be the best way to win 2 btc with 1 btc from the discussion of the thread

Strategy 1:
You're always playing 9900x using a martingale sequence, i.e. your wager for each round is

Code:

ceiling((2 - PLAYER_BR)/9899,1e-8)

you run out of funds after 6861 bets. You lose all of them with a probability of

Code:

0.9999^6861 = 0.5035187605260536

or put differently you have a 49.64812% chance of winning.

Strategy 2:
You're constantly playing 20203 satoshi but increase the payout each round by exactly 1x starting at 4951x which will leave you with 1.00004850 BTC profit. You run out of funds after 4949 games and your last payout will be 9899x. You lose all of them with a probability of

Code:

prod(1-0.99/i, i=4949..9899) = 0.5035283796177312

leading to a 49.64716% chance of winning.

I Hope the math is correct 

I think with any method the chances are always a little less than 50%.
So your math looks fine

[Bardman]

this has been discussed before

here is the thread

https://bitcointalk.org/index.php?topic=939776.0

and this will be the best way to win 2 btc with 1 btc from the discussion of the thread

Strategy 1:
You're always playing 9900x using a martingale sequence, i.e. your wager for each round is

Code:

ceiling((2 - PLAYER_BR)/9899,1e-8)

you run out of funds after 6861 bets. You lose all of them with a probability of

Code:

0.9999^6861 = 0.5035187605260536

or put differently you have a 49.64812% chance of winning.

Strategy 2:
You're constantly playing 20203 satoshi but increase the payout each round by exactly 1x starting at 4951x which will leave you with 1.00004850 BTC profit. You run out of funds after 4949 games and your last payout will be 9899x. You lose all of them with a probability of

Code:

prod(1-0.99/i, i=4949..9899) = 0.5035283796177312

leading to a 49.64716% chance of winning.

I Hope the math is correct 

Thanks for that, i didnt know about the thread

[virtapayseller666]

if you have 1 btc to invest then use this money in house edge invest and try the ods at 1.25 and play at 0.01 to start then increase amount if you can efford the bet amount then by this you can increase your balance

but bet till that you can efford

[BitCoinPokerBro]

If I wanted to double my money dice surely wouldn't be the game of choice to do so.

[cramved]

If you want to have the most reliable way of gambling and not losing then don't gamble. If you want to do it for fun then martingale with one satoshi bets and a 1 btc bankroll and let it go until you want to stop.

[activebiz]

it best to play on a real game maybe basketball. on directbet.

[EcuaMobi]

it best to play on a real game maybe basketball. on directbet.

Or maybe playing basketball in the real life and forget about gambling at all. Just saying  
The house/casino always has a higher chance of winning, otherwise they wouldn't have the site/business open.

[avw1982]

it best to play on a real game maybe basketball. on directbet.

Or maybe playing basketball in the real life and forget about gambling at all. Just saying  
The house/casino always has a higher chance of winning, otherwise they wouldn't have the site/business open.

This. but if you want to bet, just do it for the fun. Not with money you can't lose.

[panjul07]

Do you want to get the another 1BTC fast or not?
If you want it fast, just All in it the first bet with 50% chance, of course its a HIGH RISK.
but if you want it with several bets, u can use your own strategy and feeling.

[XinXan]

Do you want to get the another 1BTC fast or not?
If you want it fast, just All in it the first bet with 50% chance, of course its a HIGH RISK.
but if you want it with several bets, u can use your own strategy and feeling.

The thing is that betting everything at 50% is not really high risk.

If you use martingal with base 1k satoshis, (with 16 loses in a row you cant double again)
So you would need to win 100.000 bets so you would have to bet about 200.000 bets in total, now lets calculate the chances of loosing 16 times in a row on 50%, they are 0.0015% wich is 1 in 40.000. So every 40.000 bets you would go into a 16 lose streak (most likely) but you would need to do 200.000 bets so the chances increase so yeah