Autobets - page 2. | Bitcointalksearch.org

JoelKatz

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Democracy is vulnerable to a 51% attack.

Quote from: kashish948 on November 21, 2014, 01:10:40 PM

no matter what you do, the house edge remains the same. you CANNOT do anything to change this!

Absolutely true.

Quote

you WILL LOSE in the long run.

Absolutely false. You can make this highly unlikely with betting systems. The vast majority of people who use a betting system correctly will win.

These are not incompatible. Imagine a system where you have a 99% chance of winning $1 and a 1% chance of losing $200 and the total number of bets required is always less than 100. The house certainly has a huge edge. But the vast majority of people who use this system will win. And there can never be a "long run" because the total number of bets required by the system is always less than 100.

erre

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Yep, exactly what I was meaning: autobet are useless, we only need more customizable odds

kashish948

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no matter what you do, the house edge remains the same. you CANNOT do anything to change this! you WILL LOSE in the long run.

El Emperador

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Quote from: angeloanggam on November 17, 2014, 05:20:29 AM

How useful are autobets/autorolls in playing dice?

Does it make a difference?

No, there isn't a real difference, so you could use autorolls to avoid wasting time yourself Wink

JoelKatz

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Activity: 1596

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Democracy is vulnerable to a 51% attack.

Quote from: erre on November 21, 2014, 11:55:28 AM

In wich way this is different than betting $1 with 1/700000 chanche of winning, or betting 1300000 with 99.999... % chanche?

Typically you're not offered those options. If you are, then there's no point in using a betting system.

erre

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Quote from: JoelKatz on November 20, 2014, 05:37:09 PM

Quote from: erre on November 20, 2014, 04:37:43 PM

A system like this would basically show you that autobet is useless, every strategy is the same, and you should probably place a single bet with the profit you're aiming at.

Not so. Some systems provide a very low probability of losing and a very high probability of winning.

Betting systems let you choose between this:

You have a one in a million chance of winning $700,000, otherwise you lose $1.

And this:

You have a one in a million chance of losing $1,300,000, otherwise you win $1.

That is, they adjust the odds of winning, the odds of losing, the amount you win, and the amount you lose. Typical progressive betting systems provide a very low probability that you will lose. In compensation, the amount you can win is very small relative to the amount you can lose.

In wich way this is different than betting $1 with 1/700000 chanche of winning, or betting 1300000 with 99.999... % chanche?

SF-Man

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Quote from: krishatnet on November 20, 2014, 11:59:40 PM

I have seen many people using auto bet option I think they have some good strategies to win the game. I don't use auto bet option.

Aside from using them, some people also make their own bots.

krishatnet

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I have seen many people using auto bet option I think they have some good strategies to win the game. I don't use auto bet option.

JoelKatz

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Activity: 1596

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Democracy is vulnerable to a 51% attack.

Quote from: erre on November 20, 2014, 04:37:43 PM

A system like this would basically show you that autobet is useless, every strategy is the same, and you should probably place a single bet with the profit you're aiming at.

Not so. Some systems provide a very low probability of losing and a very high probability of winning.

Betting systems let you choose between this:

You have a one in a million chance of winning $700,000, otherwise you lose $1.

And this:

You have a one in a million chance of losing $1,300,000, otherwise you win $1.

That is, they adjust the odds of winning, the odds of losing, the amount you win, and the amount you lose. Typical progressive betting systems provide a very low probability that you will lose. In compensation, the amount you can win is very small relative to the amount you can lose.

erre

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Merit: 1205

Quote from: JoelKatz on November 19, 2014, 04:28:59 AM

A sanely-implemented system should permit you to set the odds and returns of the available bets, the betting limits, the amount you are willing to lose, and the amount you would like to win. It should report to you your odds of winning. It should then make it easy to execute the computed strategy. And once you win, you are done. If it makes it easy to repeat the strategy, it is fundamentally broken and likely made by someone who doesn't understand the entire point of betting strategies.

A system like this would basically show you that autobet is useless, every strategy is the same, and you should probably place a single bet with the profit you're aiming at.

rogerdonkey

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Quote from: altcoinlady on November 19, 2014, 04:43:26 AM

Quote from: rogerdonkey on November 19, 2014, 04:40:20 AM

if u use autobets when u play dice, of course u lost ur money Wink

What? Do you know what your talking about?

yeah, because im always lose when i play dice and use autobets.

altcoinlady

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Imagine Me and You

Quote from: rogerdonkey on November 19, 2014, 04:40:20 AM

if u use autobets when u play dice, of course u lost ur money Wink

What? Do you know what your talking about?

rogerdonkey

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if u use autobets when u play dice, of course u lost ur money Wink

JoelKatz

legendary

Activity: 1596

Merit: 1012

Democracy is vulnerable to a 51% attack.

A sanely-implemented system should permit you to set the odds and returns of the available bets, the betting limits, the amount you are willing to lose, and the amount you would like to win. It should report to you your odds of winning. It should then make it easy to execute the computed strategy. And once you win, you are done. If it makes it easy to repeat the strategy, it is fundamentally broken and likely made by someone who doesn't understand the entire point of betting strategies.

rivoke

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You will lose anyways.

finnile

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Quote from: angeloanggam on November 17, 2014, 05:20:29 AM

How useful are autobets/autorolls in playing dice?

Does it make a difference?

Some strategies involve, betting at say 10% till you get aound 5 losses, and martingaling after that. However 5 losses in a row, happen rarely and might take upto 100,000 rolls. Autobet, can let you make those bets fast and without having to press the button, and stop betting after 5 losses. I then usually, continue with a martingale after that.

2dogs

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I guess if you have a winning system that works with it, use it.
Never successful for me, though.

erre

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It makes u lose your money faster..

B4RF

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Quote from: pooya87 on November 17, 2014, 01:14:54 PM

it is so useful since you can do something else while your browser automaticly places the bets for you and also you don't have to spam click

it is so useful since you can do something else while your browser automaticly places the bets for you and loses everything after quite a while.

That's how the house edge works Tongue

cheekychap

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Quote from: angeloanggam on November 17, 2014, 05:20:29 AM

How useful are autobets/autorolls in playing dice?

Does it make a difference?

People use autobets and automatic betting mostly for using strategies while gambling at dice.

Topic: Autobets - page 2. (Read 2586 times)