Do You Change Your Bet Size With Significant Rises (Or Falls) In Bitcoin Price?

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Quote from: Junko on January 04, 2017, 06:19:44 PM

For whatever form of gambling you partake in, do significant changes in price of Bitcoin up or down affect your bet-sizing or how you manage your bankroll?

When this NFL/NCAAF season started in September, my starting sportsbetting bankroll was 1BTC and my standard bets were 1%, 2% and 3% of my starting roll. A 1% bet was worth ~$5-$6* US back then. Now a 1% bet is worth essentially double that and it looks like it may continue to climb even higher.

Should the price of bitcoin matter when it comes to bet-sizing and managing your bankroll?

*edited for bad math. Roll Eyes

If i were to gamble by bitcoin's dollar value, yes the increase in price will matter to me and will be gambling with lower amount. but i don't gamble by bitcoin's dollar value, so it doesn't matter if price rise or falls down.

eternalgloom

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I usually go for smaller bets if the price is like this, I have no ambitions of suddenly becoming a high roller.
For gambling it can be quite bothersome when the price rises like this, some sites don't allow you to alter your bets on some games.

milewilda

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Even bitcoins price would rise then it doesn't really give effect too much on how much you would bet depending on your bankroll because you will always basing the amount of bitcoins to be bet equivalent to the value of US dollar. Lets say 0.005 equivalent to $5 as of the current price of bitcoin of $956 but if bitcoin price would rise then the values would really change.

EdenHazard

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Quote from: Karartma1 on January 05, 2017, 09:30:38 AM

A long time ago I lost 3 BTC when the price was 120$ a bitcoin. I was in my early days and I was not used to give much credit to BTC. Forget I would do the same bet today!
So to answer the question yes, price need to be adjusted: when I bet I think in terms of dollars, not bitcoin

i believe people will have same situation as you , to gamble use bitcoin but with dollar value. because the winning later will just converted to dollar and spend it in real world mostly not online on bitcoin merchants that limited.

and especially when the price skyrocketed like today, people will have a lot of regret.

Red-Apple

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with significant rises, yeah as i also always said i will reduce the size of my bets but i have never thought about significant falls for years since bitcoin has always been rising and apart from corrections which are small, there has never been any fall.

addicto

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I simply calculate my bet amount is $ even I betting with bitcoin if price is high than I put low amount on stake in these days. I don't have enough amount that's why I playing very carefully only on selective bet.

Karartma1

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A long time ago I lost 3 BTC when the price was 120$ a bitcoin. I was in my early days and I was not used to give much credit to BTC. Forget I would do the same bet today!
So to answer the question yes, price need to be adjusted: when I bet I think in terms of dollars, not bitcoin

machinek20

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Yes, i do change my gambling activity due to the bitcoin pricing, for now i am stopping to gamble to more focus on trading, when the price is already stable and a bit low i will start to gamble again

Dammitt

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I can say that it affects me in a big way, I usually make my bets as bitcoin, and now I'm pushing more when I'm pushing more. As the price of bitcoin increased, it left a positive effect on me, but there is also a lot of wear on me as I lose it at the same time, so the bitcoin is now more valuable.

amacar2

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I mostly gamble with bitcoin i have at any time rather than depositing fiat from my pocket to buy bitcoin to gamble. So i don't care much about bitcoin price when gambling. I don't think many people care about price while gambling if they are playing in bitcoin based casino, but while playing with fiat i used to bet with same amount.

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Quote from: Junko on January 04, 2017, 06:19:44 PM

For whatever form of gambling you partake in, do significant changes in price of Bitcoin up or down affect your bet-sizing or how you manage your bankroll?

When this NFL/NCAAF season started in September, my starting sportsbetting bankroll was 1BTC and my standard bets were 1%, 2% and 3% of my starting roll. A 1% bet was worth ~$5-$6* US back then. Now a 1% bet is worth essentially double that and it looks like it may continue to climb even higher.

Should the price of bitcoin matter when it comes to bet-sizing and managing your bankroll?

*edited for bad math. Roll Eyes

Well i think that is also a thing to consider. It's different when you're betting on small priced amounts and high priced amounts. For example when btc's price was at 500, i wouldn't think a lot about betting in huge amounts but now, once i think of how much i'll lose and how i can use the money on other more important things, definitely i'll reconsider if i'll bet with the same amount as when the price of bitcoin is still low.

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Quote from: piloder on January 05, 2017, 05:33:27 AM

Talking about heavy price rise like right now, yes i will try to decrease my bet size according to rise but fore 10-20% rise in bitcoin price, i don't care much and keep playing.

I am thinking about halving my initial bet size if price stays above $1000 from now on.

I'll try not to decrease my bet size since I bet with relatively small amount. I prefer to decrease my target since btc price goes to the moon. My target normally at 0.02 BTC/day but today I lowered my target to 0.01 BTC/day. For sure, I wont hit my target everyday, sometime I lost my inital balance too!

piloder

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Talking about heavy price rise like right now, yes i will try to decrease my bet size according to rise but for 10-20% rise in bitcoin price, i don't care much and keep playing.

I am thinking about halving my initial bet size if price stays above $1000 from now on.

Wandering Soul~

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Of course I do change it, Lets say that my bet is .003 which is a small amount that is fine to lose . If bitcoins price increases, This also applies for the value of my bet . That's why in this case I will lower the amount of my bet to the amount of its previous value .

To be honest, I don't feel like gambling if bitcoins price increases . That is why this is a great time to gamble since it keeps increasing, Sooner or later it will decrease so grab the chance .

tabas

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Yes I do change the amount that I bet when there is a price increase that is occurring. And that why when I bet small amount most of the time, it becomes smaller when there is price increase and I think that is a good thing for me because I can cut every mBTC that I have and manage to gamble it for so long.

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Quote from: romero121 on January 05, 2017, 04:04:48 AM

I have given a pause to gambling, because recently when the price was around $970 lost 0.05 btc, which is quite high compared to the ongoing price increase. So with fear of loss holding the remaining 0.1 btc for other needs. This looks to be a good time to make profit through gambling if has good backing of bitcoin in the wallet.

Ho if we compare 0.05 BTC to USD it's a big loss, around 60$ you lost. Any way you stopped your play and took the right decision at the end. This is not a time to waste our bitcoins because the price is increasing like hell. You said you are holding 0.1 BTC for other needs. Right now the price of your savings around 120$ if you keep few more days I think it may cross 150$.

romero121

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I have given a pause to gambling, because recently when the price was around $970 lost 0.05 btc, which is quite high compared to the ongoing price increase. So with fear of loss holding the remaining 0.1 btc for other needs. This looks to be a good time to make profit through gambling if has good backing of bitcoin in the wallet.

Dmitry.Vastov

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Ofcourse i will change my bet size. Btc now is more valuable than before. It makes me hesitant whenever i bet the size that used to bet before. Thats why i minimize my bet but the same value of my bet that i used to bet before. Im also have limited btc so its better to lose slowly than lose quickly.

BlockEye

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I did try to change % bankrolls , bets and chances depending on my winnings of loses. Whatever the situation may take. I make it to a point to balance whatever the looses will occur or in the winnings. I stick only when I don't have enough time left that I roll it allthe over.

NorrisK

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If your strategy is to use a % of your bankroll, than stick to it.

Sure the fiat value may be higher now, but you should consider yourself lucky that bitcoin essentially doubled your fiat roll for gambling, allowing bigger bets with potential higher returns.

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