How to gamble with 1 BTC

[raywillet]

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.

The best one is Nitrogen Sports. Has all sports, including ESports.

[avw1982]

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.

The best one is Nitrogen Sports. Has all sports, including ESports.

maybe stupid question, but what are esports?

[XinXan]

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.

The best one is Nitrogen Sports. Has all sports, including ESports.

maybe stupid question, but what are esports?

Online games like League of Legends, dota2 counter strike

[raywillet]

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.

The best one is Nitrogen Sports. Has all sports, including ESports.

maybe stupid question, but what are esports?

Online games like League of Legends, dota2 counter strike

He's right. I bet on the LoL LCS that's based in EU and US, but Nitrogen also has DotA and CS:GO.

Hell you can even bet on Darts or Snooker. They've got a variety.

[Hfleer]

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 

Can you explain to me how it is possible to decrease the house edge overall by using such a strategy?

[Stellaartois]

Martingale is good if you have a big bankroll but I have lost at least half a bitcoin through martingale so has its ups and downs

[Astargath]

Martingale is good if you have a big bankroll but I have lost at least half a bitcoin through martingale so has its ups and downs

I dont think martingale is good even if you have big bankroll is still the same, its slow and you risk a lot to win a little

[luciann]

or you just do 1 bet of 50% and deal with a lower payout, and pre-roll all the bad rolls for your lucky guess.

[Hfleer]

or you just do 1 bet of 50% and deal with a lower payout, and pre-roll all the bad rolls for your lucky guess.

Because that works so great.

[TriggerX]

It's hard to double that big amount of bitcoins. I suggest you not gamble at all. If you have to however, I suggest betting on sports.

[Hfleer]

It's hard to double that big amount of bitcoins. I suggest you not gamble at all. If you have to however, I suggest betting on sports.

So you think doubling an amount of 1000 satoshis would be "easier"? I don't follow your logic.

[jorgelugra]

Are you saying that L O L, and the others games are esports game? come on, that is not the right way to call thats games, maybe some gaymes where you move your hand with a move or something like that(tenis, boomerang, and the wii games)

[RHavar]

Can you explain to me how it is possible to decrease the house edge overall by using such a strategy?

Because in most casino games the edge is based on what you wager. This means your expect loss is purely based on what you wager (most dice sites, its 1% of wagered amount).  But they allow you to configure your payout, and offer the same house edge on all payouts, so you can easily take advantage of this by minimizing the amount you wager.

Dooglus and Blockage provide very advanced betting sequences to minimize this a huge amount, but you can reason about it much easier if you imagine a simple 2-bet sequence:

Bet 0.5 at 3x .... if you win, stop. You won the 1 BTC! Otherwise bet the other 0.5 at 4x.  Now you either lost your entire bitcoin, or won an entire bitcoin.  However, in some cases you only wagered 0.5 BTC (and stopped early), so the "average wagered" is much less than 1 BTC. In fact, it should be about 0.835 BTC. Which means instead of an expected loss of 0.01 BTC, it is now only 0.00835.

And that, children, is how we lower the house edge on a fixed edge game.  


As an interesting side note, Money Pot house edge works very differently and is far more fair to people who don't use advanced maths and bots to fragment their bets. (Where it's proportional to how much you are attempting to win, as opposed to how much you wager)

[buddu]

You can play dice on any well reputed site but divide your 1 bitcoin in at least 16 parts and start playing if red shows then each time multiply by 2X till next green . This method works for me and is best to make your money more. Best of luck buddy.

[Astargath]

Are you saying that L O L, and the others games are esports game? come on, that is not the right way to call thats games, maybe some gaymes where you move your hand with a move or something like that(tenis, boomerang, and the wii games)

Chess is a sport and there are some other board games recognized as sports, LoL is called e-sport so i dont see what is the problem, they are not claiming to be a sport

[malphite]

when you do decide on something, feel free to post your update 

[coinpr0n]

You would have to be really into it to bet on Esports. I guess it takes lots of studying the teams. Real sports too, just seems so much more natural.

[TippingPoint]

Consider playing one of the no-rake micro-stakes poker tables on SwCPoker.  Fold a lot until you have a monster.

[jmurjeff]

The best way might be to find a site that gives a bonus for first time deposits. It might be possible to have a slight advantage with the bonus. Of course it may take a while to clear the bonus and the chance at going broke is still there. But that is probably the best way to get a slight advantage. The alternative is probably to bet it all and taking a shot at it.

[Astargath]

The best way might be to find a site that gives a bonus for first time deposits. It might be possible to have a slight advantage with the bonus. Of course it may take a while to clear the bonus and the chance at going broke is still there. But that is probably the best way to get a slight advantage. The alternative is probably to bet it all and taking a shot at it.

How is the bonus gonna help you? And bonuses normally need to wager it x10 or even more