Topic: http://luckyb.it/ (Read 3497 times)

Correct.

Maybe you want to observe first.

Candystripes, your posts in this thread are borderline, it looks like voluntary FUD, and while some other FUDsters here are clearly trolling or being angry because they lost at one point, we thought you at least were a capable person when it comes to gambling and very simple odds.
Aren't you working for a competitor?

If you really want to play safe, why gamble?
So it is luckybit red or nothing for me. 

you should post enough proofs before calling them scam
if you are a victim of scam by luckybit then post some proofs
don't say that you lost money there 

It is just like how some players look for lower risk and prefer to play 90% bets on dice sites, while some look for higher potential profit and prefer to play 1% bets. The house edge % are the same, but the risk and return are different.

It is very likely you are going to lose most of your red bets on LB, but if you win, you could get a great profit.

when i bet red i am ready to lose 80% of 80% of my bets... the other 20%.... whoooo knows...

COins are stuck only till your confirmation has not happened, its to avoid double spends .

you have no control over this game, besides to chat and hopefully get rain by the bot.

sometimes the coins are stuck waiting for a confirmation too..

Well that can happen on any dice site as that is the nature of martingale. However like I said above the fact that you were using a "blockchain" dice site meant that your initial bet had to be bigger so you would potentially be losing a larger amount of money quickly in the event that you had a big loosing streak like the one you described

If your bankroll is 100x your starting bet then you can only survive a 7 run loosing streak, and a more then 500x bankroll of your starting bet to survive a 10 run loosing streak.

@OP

i really dont understand why you are saying this

maybe because you lost

the game is tottaly fair and its really nice to play with!!

However, experience differs due to variance. Some folks have huge luck and others have the opposite; same as any other game. There are also multiple approaches to probability, and one in particular helps demonstrate why Lucky Bit in particular gives some people such a negative impression.

Consider that the odds of hitting the very edge win are 1 in 32768. Well, if you don't plan on playing 16,000 bets you can basically assume that for your instance, the odds are actually zero. They aren't, of course, and that's the fun, but when evaluating an expected return, it's a safe estimation. The same logic can actually be applied on down the outer bets: the second payout has 1 in 2048 odds so if you don't have 1,000 bets in the forecast you can safely assume you won't hit that slot. Striking the third slot from the forecast is appropriate for less than a few hundred bets, which describes most players. So what you do is calculate the game odds without the fringe wins to come up with a "reasonable expectation" for a lower number of bets, and the answer is actually quite surprising.

For blue and green, striking the outer bets impacts the expected return by less than 1%. The big impact from playing these lines comes from the bitcoin network fee on small bets.
For yellow there is a notable drop in the expected return using this method; a few hundred bets can expect more than 90% returns.
For red the drop is significant. The expected return is under 85% for less than 1,000 bets and below 50% for a dozen bets.

Let me re-iterate that. Your expected return on a dozen bets on red is less than 50%. Notice that should any of that dozen bets hit one of the outer 3 slots it's a guaranteed double-up or better, and a single x9 landing paired with any non-x0.2 hit is a profit, for that same dozen bets. The chances of either of these scenarios is actually higher than your intuition might suggest, and we didn't even include the more-common profit instances of several x2/x4 landings within a given dozen bets. But hitting all x0.2 is not uncommon either; there's a very high expected variance within those dozen bets. Variance means bigger winners and losers - and that's why the game feels harder to win than it is. Anyone that's won 30BTC probably doesn't think Lucky Bit has bad odds - it's all perception when it comes to this sort of thing, and there really isn't a mathematical model for how a game feels.

I guess, most people are aware of that, but just play it for fun for the rush of hitting 999x.

I play there often. I am not butthurt nor mad.

I can say that you are almost guaranteed to lose playing there. The odds are around ~30% double your bet, 70% lose.

It's that bad.

funny how this thread started as an LB bash but quickly had many of the regulars there ready to defend the site :-) awesomeness

I remember that day, i start with 0.02 and all day win all runs on that x2.5... at night i got 0.4 and think, lets do the last one before go to sleep... i lose every single bet, was like 10 or 12 consecutive bets and i see how my wallet go from 0.4 to 0.0 it was a hard leason to me.

Now i dont bet on dice, i think Luckybit, Poker and Sports are better for bet than Dice. But i know some gamblers who make nice profits on dice sites.

I don't think it is a good idea to use martingale with any blockchain based dice sites as the TX fees will encourage you to start with a large bet + the TX fees will eat away at your potential winnings.

I have made a similar mistake and have learned my lesson, and will generally only try martingale on actual "site" dice sites.

We all some times have a bad days... i remember the day i lost 0.4 on Satoshi bones with a martingale, i was mad and talking realy bad about the site, but i understand that game was fair.

But in the moment dont feel good to lose that money 

I bet he's only get bad luck.
It's the risk for gambling.
Or he bet big at RED color

Some people win a lot of bitcoin there
But, i lost about 0.04 BTC at BLUE color 

i still have some profit from there so i think you only need pure luck

I lose there all the time. As long as it's gambling money, I have no worries to lose.

Although you are almost guaranteed to lose, oh well.