How many Bitcoins needed for martingale - page 5.

gribble

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Quote from: Yuhee on August 20, 2017, 02:49:33 AM

Quote from: gribble on August 20, 2017, 01:18:37 AM

Well.. we need unlimited of bitcoins to play gambling using strategy martiangle because every time we are lost in gambling,
we must make doubles betting from the first lost and keeps continuous every time losing.
The bad thing from this strategy is no one people around the who have unlimited money, this strategy is never work in gambling
many people have tried this strategy and they just got losing large of money.

Well for me its not the unlimited but when you know how to stop if ever gathered enough of your winnings. Cause even if you have many btc but you dont know when to stop then you just gonna donate your btc to that certain site. Because for me if i have money i always have 200% of my winnings. But even though i almost win there is always the need to gamble more. Even in physical gambling i do martingale and sometimes there are other bankers who could see through that style that sometimes they are preventing it.

Well so if just to know when to stop playing gambling, it is not need martiangle strategy in gambling, we just needs hit and run on gambling games, when getting winning in gambling we must get out from gambling and when we have got losing must stop playing gambling too, we are talking about how many bitcoins needed for martiangle strategy in gambling and not the time for start or stop playing gambling.

Bitinity

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Quote from: Cacingkemi on August 20, 2017, 11:09:44 PM

Quote from: maeusi on August 17, 2017, 05:24:38 PM

I know that the martingale system could only win if an infinite amount is available and an infinitely high amount is likely to be placed and Casinos are protected against martingale.
Nevertheless, it would be interesting for theory to calculate the amount in relation to the highest known loss sequence.
Example:
Game: Dice Game
Minimum bet: 1 Satoshi
Maximum bet: no limit.
Highest known loss sequence on dice game: ?

Necessary maximum amount for theoretical safe gain: ?

0.1 BTC needed for martingale
Highest known loss sequence on dice game: ? 15 but up to 23 strike loose , if loose x4
Necessary maximum amount for theoretical safe gain: ? 100K sats

Yes 0.1 as your bankroll with x4 on lose and you'll bust very soon. No matter how much your bankroll, martinfail will kill your bankroll sooner or later. Remember that there is a max cap on gambling site, even if you have unlimited bankroll but if you reach the max cap while getting loses streak then you wont be able to continue your martingale.

yndye

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Quote from: Shinpako09 on August 19, 2017, 07:59:45 AM

I wouldn't use martingale if I have a decent balance. If your base bet is just 1satoshi and ended up having a red streak. Would you ever risk the 5btc for that 1satoshi. Also, even if you have infinite balance, how about the limit per bet. Martingale sucks and it's proven for how many years.

I've been burn by martingale too before because I thought that having losing streaks of 20+ is rare so a huge opportunity of earning is very high so I lost big amount because of 1 satoshi base. Some may have been lucky using this strategy but I am never using this strategy again because I have the tendency to be greedy even if I already achieved my target profit cause I wanted to earn more and more.

Gotottack

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Quote from: Cacingkemi on August 20, 2017, 11:09:44 PM

Quote from: maeusi on August 17, 2017, 05:24:38 PM

I know that the martingale system could only win if an infinite amount is available and an infinitely high amount is likely to be placed and Casinos are protected against martingale.
Nevertheless, it would be interesting for theory to calculate the amount in relation to the highest known loss sequence.
Example:
Game: Dice Game
Minimum bet: 1 Satoshi
Maximum bet: no limit.
Highest known loss sequence on dice game: ?

Necessary maximum amount for theoretical safe gain: ?

0.1 BTC needed for martingale
Highest known loss sequence on dice game: ? 15 but up to 23 strike loose , if loose x4
Necessary maximum amount for theoretical safe gain: ? 100K sats

Wow, you haven't gambled too much have you? You can even check the wizardofodds.com to see facts for yourself. 15 - 23 straight losses are not uncommon. It happens and you would not even believe how quick it will happen. There is really no chance anyone can profit from playing dice using a martin gale system.

Cacingkemi

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Quote from: maeusi on August 17, 2017, 05:24:38 PM

I know that the martingale system could only win if an infinite amount is available and an infinitely high amount is likely to be placed and Casinos are protected against martingale.
Nevertheless, it would be interesting for theory to calculate the amount in relation to the highest known loss sequence.
Example:
Game: Dice Game
Minimum bet: 1 Satoshi
Maximum bet: no limit.
Highest known loss sequence on dice game: ?

Necessary maximum amount for theoretical safe gain: ?

0.1 BTC needed for martingale
Highest known loss sequence on dice game: ? 15 but up to 23 strike loose , if loose x4
Necessary maximum amount for theoretical safe gain: ? 100K sats

Omega Weapon

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Quote from: iram1011 on August 17, 2017, 10:24:17 PM

I don't understand so much love for Martingale strategy.

The only reason for its popularity is that under certain conditions(lots of money and time) it gives a predictable outcome in terms of profits. It’s not a sure bet, but it’s about as close as you can get.

There is no fix amount you would need even if casino doesn't limit it. This strategy would rob you off your time and money. Martingale strategy bring with it a huge chance of getting you broke. So as always said bring the amount you can afford to lose in gambling and if you are lucky enough you can earn in that too.

The reason why martingale is so popular is because for those that do not take the time to make the calculations, it gives the impression that it is a safe way to make money with gambling when in fact martingale does not change anything, you are going to lose as much as any other person since the house edge is going to be there to make sure of that, besides the amount of money you need to put at risk to only win 1 satoshi is ridiculous high.

Yuhee

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Quote from: gribble on August 20, 2017, 01:18:37 AM

Well.. we need unlimited of bitcoins to play gambling using strategy martiangle because every time we are lost in gambling,
we must make doubles betting from the first lost and keeps continuous every time losing.
The bad thing from this strategy is no one people around the who have unlimited money, this strategy is never work in gambling
many people have tried this strategy and they just got losing large of money.

Well for me its not the unlimited but when you know how to stop if ever gathered enough of your winnings. Cause even if you have many btc but you dont know when to stop then you just gonna donate your btc to that certain site. Because for me if i have money i always have 200% of my winnings. But even though i almost win there is always the need to gamble more. Even in physical gambling i do martingale and sometimes there are other bankers who could see through that style that sometimes they are preventing it.

gribble

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Activity: 966

Merit: 552

Well.. we need unlimited of bitcoins to play gambling using strategy martiangle because every time we are lost in gambling,
we must make doubles betting from the first lost and keeps continuous every time losing.
The bad thing from this strategy is no one people around the who have unlimited money, this strategy is never work in gambling
many people have tried this strategy and they just got losing large of money.

sportbettor

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Examples of the application of the Martingale system in practice can be see here: http://sportstatist.com/the-pitfalls-of-martingale-money-management-strategy/

MinerHQ

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Quote from: marlboroza on August 19, 2017, 02:31:24 PM

Quote from: maeusi on August 18, 2017, 08:02:49 AM

Maybe there could be an opportunity to lower the risked amount and play with high risk limited martingale

Ok, with bitcoin it would be difficult when not impossible.
Lets take an example with dogecoin.
Amount: 1000 doge
Bet minimum 0.00000010
Base bet: 0.00000010
Limited to 10 doge bet
Risk 17 %
If win: return to base bet
If loose: Triple (base bet x 3)

You will probably mine more doge if you mine them with your CPU than you will earn by doing martingale with base bet 0.0000001 DOGE.
You will have to win 10,000,000 times to earn 1 DOGE! 10000000 winning rolls for 1 DOGE m8! Do you know how much time is needed for that?
Not worth time and electricity.

What you said is correct but I saw OP mentioned that he is using this method for fun and not to make a money. He plans to stay more time in a dice game to play instead of targeting earn money. It all depends on individuals but I also think it is too small amount to bet and not much fun and excitement with such small amount.

Gotottack

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Quote from: NorrisK on August 19, 2017, 04:47:42 PM

For martingale to work you need an infinite amount of bitcoin.

That's the only way you can guarantee that you will always be able to make a bet in any losing streak.

Remember, long losing streaks do actually happen.

That is absolutely true! Martin gale needs unlimited amounts of money to be able to profit from it indefinitely! Though the problem is that it is not possible to have infinite number of money also there is a limit to the max bet you can do in the casinos. So 2 factors will hinder a perfect martin gale system. Just play, don't use martin gale, it's a stupid strategy.

NorrisK

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For martingale to work you need an infinite amount of bitcoin.

That's the only way you can guarantee that you will always be able to make a bet in any losing streak.

Remember, long losing streaks do actually happen.

Barbut

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Quote from: nizamcc on August 19, 2017, 02:26:30 PM

Martingale had been one of the worst techniques I've ever tried gambling over dice sites. Even with your mentioned minimum bet, the loss sequence can cross levels where you may find yourself unsuitable to bet and until you realise, you could have already lost too much over the automated betting and that's how house eats your bankroll.

That is proven, and martingale lead to disaster. But with so many topics about martingale and million comments how martingale is bad strategy people still don`t understand. Like nothing can convince them that martingale is bad idea from the start, and there is no amount of money that can help anyone to win with martingale strategy.
First OP wanted to bet in bitcoins, then in doge coins, its the same casinos are have maximum bet in dollars, convert it in currency you gamble and there is max limit. I think fortune jack is best example of that, I`m not sure is it still like that cause I didn`t play dices there for a while but with bitcoins minimum bet was 0.000001 (or 10 sat.), with litecoins around 1000 litetoshis, and doge was 10 doges or something like that. Anyway point is that with cheap coins you don`t have minimal bets in decimals.
I lost many times with automated betting, I don`t plan to bet like that ever again, even if I have 10 bitcoins, simply no.

marlboroza

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Quote from: maeusi on August 18, 2017, 08:02:49 AM

Maybe there could be an opportunity to lower the risked amount and play with high risk limited martingale

Ok, with bitcoin it would be difficult when not impossible.
Lets take an example with dogecoin.
Amount: 1000 doge
Bet minimum 0.00000010
Base bet: 0.00000010
Limited to 10 doge bet
Risk 17 %
If win: return to base bet
If loose: Triple (base bet x 3)

You will probably mine more doge if you mine them with your CPU than you will earn by doing martingale with base bet 0.0000001 DOGE.
You will have to win 10,000,000 times to earn 1 DOGE! 10000000 winning rolls for 1 DOGE m8! Do you know how much time is needed for that?
Not worth time and electricity.

nizamcc

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Martingale had been one of the worst techniques I've ever tried gambling over dice sites. Even with your mentioned minimum bet, the loss sequence can cross levels where you may find yourself unsuitable to bet and until you realise, you could have already lost too much over the automated betting and that's how house eats your bankroll.

ShowOff

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why there are people that still use martingale nowadays, it is just waste time and you will ad with lose all your money. better use your own luck. there are no strategies in gambling, especially dice

bering

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some people had more than 20x losing streak so although you were starting bets with low amount eventually your bets will became so high because martingale strategy needed unlimited bitcoin to do so

ewonardo

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I've had streak lose more than 23x and streak win as much as 18x, both streak without doing martingale. For me, it was the most streak i experienced when playing dice. You can calculate it yourself if basebet only 1sat and you use martingale technique. I'm sure, your balance rushed out before take winning.

Shinpako09

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I wouldn't use martingale if I have a decent balance. If your base bet is just 1satoshi and ended up having a red streak. Would you ever risk the 5btc for that 1satoshi. Also, even if you have infinite balance, how about the limit per bet. Martingale sucks and it's proven for how many years.

maeusi

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Quote from: bajing on August 19, 2017, 05:39:54 AM

Quote from: maeusi on August 17, 2017, 05:24:38 PM

I know that the martingale system could only win if an infinite amount is available and an infinitely high amount is likely to be placed and Casinos are protected against martingale.
Nevertheless, it would be interesting for theory to calculate the amount in relation to the highest known loss sequence.
Example:
Game: Dice Game
Minimum bet: 1 Satoshi
Maximum bet: no limit.
Highest known loss sequence on dice game: ?

Necessary maximum amount for theoretical safe gain: ?

There is no exact value when using martingale because the key to win in martingale is just an estimate. For example you start a bet with 1 satoshi and you think will win on the 15th bet then you just set the balance up till up to the 15th bet.

You mean a kind of limited martingale? So just to limit to 15 loss? That seems to me quite high. Had often over 20 reds.

Quote from: emberbekas on August 19, 2017, 05:27:13 AM

When we play with martingale, even though we had for example unlimited bankroll, there will be max profit on every gambling sites hence people mostly will end up losing when they used it very often because such condition (can't place a bet due to exceeding max profit ) will be met if we played it very long.

Yes, that is another point, that one can't win with martingale. I am just wondering how that fits to "provably fair" bets, that one can win an amount and up that point will always loose.

Topic: How many Bitcoins needed for martingale - page 5. (Read 1732 times)