Just another example of Martingale lose

gogodr

sr. member

Activity: 434

Merit: 250

Quote from: NUFCrichard on June 13, 2016, 02:04:52 AM

Quote from: gogodr on June 13, 2016, 01:57:18 AM

Martingale works, his bets were just too big for his bankroll. You need to have enough to take 10 losses at least before you win one.

You are half right. He was betting far too big for his bank, so the inevitable big loss came quicker than should have been the case.

Even if he had bet small or had a massive bank, he would lose it all eventually. Martingale is just pushing the losses back, until eventually the odds catch up with you and you lose it all!

Well not even martingale can save you from that. When you are up you need to walk away and add to you bankroll so you can continue to see another day. But yeah, way too big bets for such a tiny bankroll.

NUFCrichard

legendary

Activity: 1218

Merit: 1003

Quote from: gogodr on June 13, 2016, 01:57:18 AM

Martingale works, his bets were just too big for his bankroll. You need to have enough to take 10 losses at least before you win one.

You are half right. He was betting far too big for his bank, so the inevitable big loss came quicker than should have been the case.

Even if he had bet small or had a massive bank, he would lose it all eventually. Martingale is just pushing the losses back, until eventually the odds catch up with you and you lose it all!

gogodr

sr. member

Activity: 434

Merit: 250

Martingale works, his bets were just too big for his bankroll. You need to have enough to take 10 losses at least before you win one.

Vongola

hero member

Activity: 742

Merit: 505

There are alot people who lost when trying martingale strat. Better try find other strat which more safe than martingale

naidray

legendary

Activity: 1232

Merit: 1029

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

-snip-

3+ BTC lose on playing dice with martingale strategy!!! Mr.hohnsohn had a big heart I guess. I just saw first time who lose this kind of big amount on dice game. Hope he can afford and come as a professional gambler. I tried to play dice with little amounts but at the end I lose all. I think there is nothing possible there, you will never win at the end. So keep you away from this kind of game.

marlboroza

legendary

Activity: 1932

Merit: 2272

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

I always say - don't play marginal! And this guy is perfect example of my words!
Gambling with 2500$ to get only 65$, and I am asking you is 65$ worth of losing all?

Semidetached

member

Activity: 101

Merit: 10

Quote from: Barbut on June 12, 2016, 12:32:30 PM

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

6 reds on x 2. Seems so ordinary, I had 20 and more in some cases on that bet. So I`m not surprised at all with this loss. And what is most funny here even if he won on his 6th bet, how much would he won? Nothing, so question is how much he risk and how much he can gain from that risk?
Dices are good game when you chase big payouts, x 2 is just a trick. I lost to many times like that on dices, cause of that I stopped playing dices and now from time to time I chase some big payouts with small amounts. If it comes it comes, if not who cares.
What else to say, people be careful when you play dices. And martingale is just one stupid strategy, better find something else.

He would have won about half of his overall losses back. Looks like another guy who became a victim to putting good money in after bad. RIP in pieces his bitcoin wallet.

Falconer

legendary

Activity: 2660

Merit: 1141

Quote from: Bitinity on June 12, 2016, 11:14:18 AM

Quote from: Falconer on June 12, 2016, 10:09:05 AM

Quote from: adaseb on June 11, 2016, 07:31:59 AM

This actually happens all the time. I have seen people betting like 0.00000100 sats on martingale and they end up losing like 2-3 BTC because they hit huge losing streaks. Its very dangerous.

With that amount of his bet and how much he lose, then I guess the problem is he took high multiplier, maybe over 2.0, so thats why he hit big losing streaks. Like I said before, martingale isnt suitable for bet on high multiplier and those who dont have enough balance to cover it.

No matter how much is the multiplier, martingale is still martingale that may give you such losing streaks. With that amount above, someone may lose 3btc in 26 losing streaks with 2x multiplier and 100% increase on lose.
The same if you choose lower multiplier, because when someone choose low multiplier and do martingale he will increase more than 100% on lose.
Overall, martingale is not suitable for any multipliers if you ask me.

Sorry I want to correct my post, 2x multiplier is still safe for martingale, I haven't seen many losing streaks over than 10 in a row, so with .000001BTC, if you lose 10times in a row, you still lost at least 1mBTC. Then I realized that guy who lost 2-3BTC made multiplier higher than 10.

Barbut

hero member

Activity: 1694

Merit: 502

★Bitvest.io★ Play Plinko or Invest!

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

6 reds on x 2. Seems so ordinary, I had 20 and more in some cases on that bet. So I`m not surprised at all with this loss. And what is most funny here even if he won on his 6th bet, how much would he won? Nothing, so question is how much he risk and how much he can gain from that risk?
Dices are good game when you chase big payouts, x 2 is just a trick. I lost to many times like that on dices, cause of that I stopped playing dices and now from time to time I chase some big payouts with small amounts. If it comes it comes, if not who cares.
What else to say, people be careful when you play dices. And martingale is just one stupid strategy, better find something else.

DarkThrones

full member

Activity: 252

Merit: 100

That's only a 6 bet loss streak lol. You can run into twice amounts of that pretty often. Imagine a 12 loss streak. I've hit 20 or so multiple times before. Martingale is not your friend.

pocarime32

sr. member

Activity: 420

Merit: 250

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

Oh my, it's so pain looking that image. Martingale strategy and provably fair are worst, 50% chance to win y got losing streak 6 times. I'm so sorry to him, it must be very sucks.

Bitinity

legendary

Activity: 3066

Merit: 1312

Quote from: Falconer on June 12, 2016, 10:09:05 AM

Quote from: adaseb on June 11, 2016, 07:31:59 AM

This actually happens all the time. I have seen people betting like 0.00000100 sats on martingale and they end up losing like 2-3 BTC because they hit huge losing streaks. Its very dangerous.

With that amount of his bet and how much he lose, then I guess the problem is he took high multiplier, maybe over 2.0, so thats why he hit big losing streaks. Like I said before, martingale isnt suitable for bet on high multiplier and those who dont have enough balance to cover it.

No matter how much is the multiplier, martingale is still martingale that may give you such losing streaks. With that amount above, someone may lose 3btc in 26 losing streaks with 2x multiplier and 100% increase on lose.
The same if you choose lower multiplier, because when someone choose low multiplier and do martingale he will increase more than 100% on lose.
Overall, martingale is not suitable for any multipliers if you ask me.

crairezx20

legendary

Activity: 1638

Merit: 1046

Quote from: mindrust on June 12, 2016, 10:44:53 AM

Yeah that's the example why martigale is a useless strategy. People are warning gamblers about the martingale but every noob out there approaces to martingale like they invented it and nobody have never thought about it before.

Martingale is a poison.

Btw there are no strategies when it comes to dice games. No skills required= No strategies.

Over martingale is not poison and i think this methods works in other gamblers and also this method works in other game not only dice game can use this strategy.. we know its always depends in luck not in strategy but martingale works for me not in online gambling casiono but its working to me in color game..

mindrust

legendary

Activity: 3276

Merit: 2442

Yeah that's the example why martigale is a useless strategy. People are warning gamblers about the martingale but every noob out there approaces to martingale like they invented it and nobody have never thought about it before.

Martingale is a poison.

Btw there are no strategies when it comes to dice games. No skills required= No strategies.

RoommateAgreement

hero member

Activity: 770

Merit: 500

Bazinga!

martingale method is always a terrible method of gambling in dice games. there are a lot of ifs and buts in it when you want to win, which is why we will always end up losing in the end.

for example a big if in martingale is that if you have a very huge bankroll you can have chance of being sure you never lose which is also impossible.

Falconer

legendary

Activity: 2660

Merit: 1141

Quote from: adaseb on June 11, 2016, 07:31:59 AM

This actually happens all the time. I have seen people betting like 0.00000100 sats on martingale and they end up losing like 2-3 BTC because they hit huge losing streaks. Its very dangerous.

With that amount of his bet and how much he lose, then I guess the problem is he took high multiplier, maybe over 2.0, so thats why he hit big losing streaks. Like I said before, martingale isnt suitable for bet on high multiplier and those who dont have enough balance to cover it.

elyas772

hero member

Activity: 756

Merit: 502

too greedy start of 0.1BTC, and it seems he did not take into account the capital. perhaps it would be better if it started from 0.01BTC

JasonXG

hero member

Activity: 770

Merit: 500

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

The saddest part is he lost it all trying to make a measly 0.10 . lost everything just to gain a small 2% or so. Silly.

shanem

legendary

Activity: 1344

Merit: 1000

It is not very rare to have such losing streak with 50% winning change. When I use dust from faucet to roll dice at minimum bet, it would take less than 100 rolls to get a lose streak of 6 times. I don't have faith in using martingale anymore.

reuschman

full member

Activity: 155

Merit: 100

Quote from: Barcode_ on June 11, 2016, 07:21:09 AM

Martingale doesn't really guarantee a 100% win for dice, Luck matters a lot in gambling Cheesy

Luck? also MATH! Because it's so statically impossible win against the house Tongue

adaseb

legendary

Activity: 3808

Merit: 1723

This actually happens all the time. I have seen people betting like 0.00000100 sats on martingale and they end up losing like 2-3 BTC because they hit huge losing streaks. Its very dangerous.

Barcode_

staff

Activity: 3206

Merit: 575

Join the world-leading crypto sportsbook NOW!

Martingale doesn't really guarantee a 100% win for dice, Luck matters a lot in gambling Cheesy

hermanhs09

hero member

Activity: 574

Merit: 500

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

Wow, RIP that guy. The thing with martingale is that it tempts you to go double or nothing, until you can't do it anymore. Sometimes you do the logical thing and stop when it's going out of control. Next bet, you hit a green.

And then you go full on retard. Bet max is probably the thing I do most.

BitcoinPC

hero member

Activity: 812

Merit: 500

Quote from: lorylore on June 11, 2016, 04:22:38 AM

Quote from: Shinpako09 on June 11, 2016, 12:57:13 AM

Quote from: DarkStar_ on June 06, 2016, 10:43:18 PM

Ouch, really sad to see someone losing 3+ bitcoin while trying to win 0.1 BTC (assuming that was his base bet). He should have just done a 3 BTC bet on a 1.04 multiplier, as it is faster and safer. Hopefully he could afford the logs and just wanted to have some fun, but it easily could have been someone who was dumb enough to think it would actually work. At least he made Stunna happy.

That would be more risky IMO. Your betting big amount in exchange for small amount. Would be better if he bet on a higher multiplier like 2.5x or 3x with big amount.

Actually, no matter what method you use, the probability is less than 50%. You will end up losing in the long run even if you change your multiplier. So it is always advice not to play with martingale cause you will end up losing very big.

Most people say that martingale strategy is the only way to have a winning. But i think it should be played with small amount of bitcoins. Its always risky no matter what plan you use. Sorry for the OP losing some great amount of the coins

lorylore

legendary

Activity: 1470

Merit: 1002

Quote from: Shinpako09 on June 11, 2016, 12:57:13 AM

Quote from: DarkStar_ on June 06, 2016, 10:43:18 PM

Ouch, really sad to see someone losing 3+ bitcoin while trying to win 0.1 BTC (assuming that was his base bet). He should have just done a 3 BTC bet on a 1.04 multiplier, as it is faster and safer. Hopefully he could afford the logs and just wanted to have some fun, but it easily could have been someone who was dumb enough to think it would actually work. At least he made Stunna happy.

That would be more risky IMO. Your betting big amount in exchange for small amount. Would be better if he bet on a higher multiplier like 2.5x or 3x with big amount.

Actually, no matter what method you use, the probability is less than 50%. You will end up losing in the long run even if you change your multiplier. So it is always advice not to play with martingale cause you will end up losing very big.

Falconer

legendary

Activity: 2660

Merit: 1141

Quote from: Shinpako09 on June 11, 2016, 12:57:13 AM

That would be more risky IMO. Your betting big amount in exchange for small amount. Would be better if he bet on a higher multiplier like 2.5x or 3x with big amount.

Martingale is not really safe for higher multiplier imo, it could make the risk become bigger and you will lost much more money. Also, with higher multiplier you have to prepare pretty high amount balance to cover it, or lowering your bet.

Shinpako09

legendary

Activity: 2058

Merit: 1015

Quote from: DarkStar_ on June 06, 2016, 10:43:18 PM

Ouch, really sad to see someone losing 3+ bitcoin while trying to win 0.1 BTC (assuming that was his base bet). He should have just done a 3 BTC bet on a 1.04 multiplier, as it is faster and safer. Hopefully he could afford the logs and just wanted to have some fun, but it easily could have been someone who was dumb enough to think it would actually work. At least he made Stunna happy.

That would be more risky IMO. Your betting big amount in exchange for small amount. Would be better if he bet on a higher multiplier like 2.5x or 3x with big amount.

Falconer

legendary

Activity: 2660

Merit: 1141

Quote from: dinda22 on June 10, 2016, 06:07:06 PM

This is not a problem too much. but if I were in his position, I would probably do the same thing when using the martingale. but honestly, it was a bad day and was not lucky.

Its a common thing when you using martingale for your bet, which you have prepared enough balance to cover it. If you will do the same, then you also will face the same result. Even though lucky is an absolute thing in gambling, you should know other ways to reduce its risk.

Cyaren

sr. member

Activity: 294

Merit: 250

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

There are lots of those martingale losses around, and they are just tragic to be honest. They are people who still have no idea what mess they're getting themselves into... Even the highrollers do it these days.

3.5 BTC is still relatively small if you compare to someone like AKCoinminer who has the biggest losses.

lalala123456

newbie

Activity: 14

Merit: 0

I lost over 30 grand with satoshidice. I damned blockchain.info for including it on the dashboard.. glad its removed now. Tongue

tokeweed

legendary

Activity: 3976

Merit: 1421

Life, Love and Laughter...

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

The martingale strategy is the quickest way to lose all your money when gambling. He should be doing the reverse. The more and more he loses, his bets should be getting smaller and smaller. And as he wins, bets should be getting bigger. To become a consistent winner is to keep your losses small and your winners big. Your losses will be more compared to your wins, but snce you're only losing small, your big wins will make up for them.

ShowOff

legendary

Activity: 2618

Merit: 1181

Quote from: Sniper44 on June 10, 2016, 09:47:25 PM

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

wow that is an unlucky guy to lose this much.
this really shows there is no good strategy in dice games that can help you win in these bets you make.
no matter what you do and how much you winning chance is, there will always be a chance that you see a losing streak and as the result of that lose all your bankroll even

this is why sometime i hate people that selling trick and then i know that is only martingale strategy , if people can use good strategy in dice game , make money will be easy for all people and some dice site will go bankrupt easily

Sniper44

hero member

Activity: 714

Merit: 501

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

wow that is an unlucky guy to lose this much.
this really shows there is no good strategy in dice games that can help you win in these bets you make.
no matter what you do and how much you winning chance is, there will always be a chance that you see a losing streak and as the result of that lose all your bankroll even

janggernaut

legendary

Activity: 2394

Merit: 1131

Quote from: lite on June 10, 2016, 09:47:27 AM

Quote from: janggernaut on June 07, 2016, 01:07:06 AM

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

i ever saw someone who lost 300 btc because martingale too, this strat really scary

Yeah martingale is scary as hell if you don't have sufficient money to face off 30+ reds in a row.

yea,someone told me if he had 32 streak loses in a row on 49.95% chance after rolling a lot of bets.

Quote from: dinda22 on June 10, 2016, 10:03:57 AM

it is real evidence, that there is no safe in the gambling game, although you have a lot of capital to do a martingale way, it really does not warrant.

yup, just gambling as fast as you can, dont gambling in a long run.

Frost

hero member

Activity: 602

Merit: 508

Quote from: bitkilo on June 06, 2016, 10:34:48 PM

Just goes to show that there are no perfect gambling strategies for winning, hope he could afford to loose it.

It's just math, of course there is no perfect gambling strategy.

dinda22

legendary

Activity: 1232

Merit: 1000

Quote from: Falconer on June 10, 2016, 10:21:41 AM

Quote from: dinda22 on June 10, 2016, 10:03:57 AM

Quote from: janggernaut on June 07, 2016, 01:07:06 AM

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

i ever saw someone who lost 300 btc because martingale too, this strat really scary

it is real evidence, that there is no safe in the gambling game, although you have a lot of capital to do a martingale way, it really does not warrant.

I think his bet was too much, he should make the bet at least 1% of his total balance. So, if he bet 0.1BTC, then he must prepare 10 BTC as his balance. But I guess he will back to get his money back. Dont have any idea why people love to play dice.

This is not a problem too much. but if I were in his position, I would probably do the same thing when using the martingale. but honestly, it was a bad day and was not lucky.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

losing in martingale is always hurtful and losing 3.8 bitcoin on top of that, he must have lost his mind after this loss.
this kind of loss in martingale is always more hurtful because you play all day long and win small amounts but when you hit the losing streak your losses grow so big and so fast that you lose all your money and all your winnings.

Falconer

legendary

Activity: 2660

Merit: 1141

Quote from: dinda22 on June 10, 2016, 10:03:57 AM

Quote from: janggernaut on June 07, 2016, 01:07:06 AM

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

i ever saw someone who lost 300 btc because martingale too, this strat really scary

it is real evidence, that there is no safe in the gambling game, although you have a lot of capital to do a martingale way, it really does not warrant.

I think his bet was too much, he should make the bet at least 1% of his total balance. So, if he bet 0.1BTC, then he must prepare 10 BTC as his balance. But I guess he will back to get his money back. Dont have any idea why people love to play dice.

dinda22

legendary

Activity: 1232

Merit: 1000

Quote from: janggernaut on June 07, 2016, 01:07:06 AM

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

i ever saw someone who lost 300 btc because martingale too, this strat really scary

it is real evidence, that there is no safe in the gambling game, although you have a lot of capital to do a martingale way, it really does not warrant.

Shogen

legendary

Activity: 966

Merit: 1001

Quote from: HeroCat on June 10, 2016, 09:29:25 AM

It can be, most possible gambling software recognise large bet, therefore you loose. As far as I know, some gambling software recognise that, so if you place small bet, you win, if you place large bet, you loose. Wink

From the look of it, the bets are made on PD which is provably fair. No matter how big or small the bet is, the result is still determined by the same HMAC-sha512 algorithm listed on https://primedice.com/verify with the same client-server seed pair and nonce going up by 1 for each bet until the player choose to have a new seed pair.

lite

legendary

Activity: 1400

Merit: 1009

Quote from: janggernaut on June 07, 2016, 01:07:06 AM

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

i ever saw someone who lost 300 btc because martingale too, this strat really scary

Yeah martingale is scary as hell if you don't have sufficient money to face off 30+ reds in a row.

HeroCat

hero member

Activity: 658

Merit: 500

It can be, most possible gambling software recognise large bet, therefore you loose. As far as I know, some gambling software recognise that, so if you place small bet, you win, if you place large bet, you loose. Wink

crairezx20

legendary

Activity: 1638

Merit: 1046

I can't gamble the same as that.. its a huge money for me if i gamble it.. better to trade if i have 3.8 btc.
Maybe those people have manny bitcoin they are old adopters of bitcoins..

Vhern

sr. member

Activity: 322

Merit: 250

If only BTC is easier to obtain for oneself, I would consider playing matingale for a low amount not for that big one see the outcome if he happened to won his 5th bet he can only win a profit of 0.10BTC

Patatas

legendary

Activity: 1750

Merit: 1115

Providing AI/ChatGpt Services - PM!

Quote from: Dannie on June 10, 2016, 09:13:35 AM

Quote from: Patatas on June 10, 2016, 09:08:27 AM

Well,please tell me the site he was rolling the dice at was provably fair because its certainly doesn't seem like that.I'm assuming the win chances would be 70:30 but its not plausible to see him losing straight in a row and I'm not even talking about the strategy he used here.

If someone makes a large number of rolls, I am sure he will see many long streaks (both the green ones and the red ones). Without knowing how many rolls he has played, and overall how many bets he has won and lost, I don't think any conclusion can be made at all.

That is logical.Though I would definitely like to know the entire scenario here.Considering the chances for double payouts are usually 50:50 percent or more accurately 49:50 that behavior of the rolls seems strange to me.

Quote from: ndnh on June 10, 2016, 09:11:55 AM

It is entirely possible to lose even 30 times a row. We are talking about 6 here Tongue

I wonder how this assures provably fair when the chances of wins are 50:50.

Dannie

legendary

Activity: 910

Merit: 1000

Quote from: Patatas on June 10, 2016, 09:08:27 AM

Well,please tell me the site he was rolling the dice at was provably fair because its certainly doesn't seem like that.I'm assuming the win chances would be 70:30 but its not plausible to see him losing straight in a row and I'm not even talking about the strategy he used here.

If someone makes a large number of rolls, I am sure he will see many long streaks (both the green ones and the red ones). Without knowing how many rolls he has played, and overall how many bets he has won and lost, I don't think any conclusion can be made at all.

SyGambler

legendary

Activity: 2436

Merit: 1804

guess who's back

well no need to post more stories i guess we all know that nothing will work in the long run , but that doesn't make martingale bad cause in general when you decide to gamble on -EV games you already made a bad decision
martingale will only help you to reach you goal or bust faster
also the sample is small , if 0.1 BTC is his base bet then it's really normal thing to happen

ndnh

legendary

Activity: 1302

Merit: 1005

New Decentralized Nuclear Hobbit

Quote from: DarkStar_ on June 06, 2016, 10:43:18 PM

Ouch, really sad to see someone losing 3+ bitcoin while trying to win 0.1 BTC (assuming that was his base bet). He should have just done a 3 BTC bet on a 1.04 multiplier, as it is faster and safer. Hopefully he could afford the logs and just wanted to have some fun, but it easily could have been someone who was dumb enough to think it would actually work. At least he made Stunna happy.

We don't know if 0.1 is the base bet. it could be even 0.0125 or less. I am guessing the image was taken from the highrollers tab and you know only bets/profit bigger than set would be shown there.

Quote from: Patatas on June 10, 2016, 09:08:27 AM

Also,that is a terrible strategy regardless of whatever it is.Well,please tell me the site he was rolling the dice at was provably fair because its certainly doesn't seem like that.I'm assuming the win chances would be 70:30 but its not plausible to see him losing straight in a row and I'm not even talking about the strategy he used here.

It is entirely possible to lose even 30 times a row. We are talking about 6 here Tongue

pearl11

full member

Activity: 126

Merit: 100

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

Only one thing i can say ,"it hurts to loose that big amount of btc"
How i wish that 3.8btc is nothing compare to him.

Patatas

legendary

Activity: 1750

Merit: 1115

Providing AI/ChatGpt Services - PM!

Quote from: JasonXG on June 10, 2016, 09:02:50 AM

That's so much to lose wow. I think you should have left the wager the same so of you pass the next roll you break even. This will give you about 3x more rolls. I understand you could miss a good roll but you can also win your money back and use of as a form of safety net.

Mind reading the post again ? Loser is not OP himself but some random guy over the site.So the "you" you're referring to doesn't make sense here.

Also,that is a terrible strategy regardless of whatever it is.Well,please tell me the site he was rolling the dice at was provably fair because its certainly doesn't seem like that.I'm assuming the win chances would be 70:30 but its not plausible to see him losing straight in a row and I'm not even talking about the strategy he used here.

eternalgloom

legendary

Activity: 1792

Merit: 1283

Quote from: Caladonian on June 06, 2016, 10:54:44 PM

another victim of martinfail strategy, that a huge amount he might be a rich person or a professional gambler
afford to lose that amount I guess he knows what his doing, I can't see myself losing that much in any gambling
game.

Professional gamblers would not use martingale strategy, they tend to go for sportbetting or other games where you have the chance of beating the odds.

JasonXG

hero member

Activity: 770

Merit: 500

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

That's so much to lose wow. I think you should have left the wager the same so of you pass the next roll you break even. This will give you about 3x more rolls. I understand you could miss a good roll but you can also win your money back and use of as a form of safety net.

LiQuidx

hero member

Activity: 546

Merit: 500

Quote from: Sir_lagsalot on June 07, 2016, 01:52:22 AM

Just goes to show how terrible it is to lose this way. Losing faster than you ever could, and not having the reaction time to stop it.

Martingale should only be done if your bankroll can sustain more than 15 losses in a row, at the minimum.

I agree but I think 15 is still low as a minimum. I'd say 20 as minimum and always set a target of the overall profit in order to stop, let's say half your bank or if you want to be riskier x2. You can't run it for long and the more you do so the higher the probability it will bite you in the ass.

Sir_lagsalot

sr. member

Activity: 392

Merit: 251

Just goes to show how terrible it is to lose this way. Losing faster than you ever could, and not having the reaction time to stop it.

Martingale should only be done if your bankroll can sustain more than 15 losses in a row, at the minimum.

janggernaut

legendary

Activity: 2394

Merit: 1131

Quote from: tsaroz on June 06, 2016, 10:26:41 PM

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

i ever saw someone who lost 300 btc because martingale too, this strat really scary

crytoboost

hero member

Activity: 714

Merit: 500

Oh that is another sad story which happened due to perfect winning strategy for gambling, i am quite sure when someone start playing with martingale than he think losing streak will never happen to him and that why he start taking big risk to just few cents and in the end lost all of his just in a seconds to the house edge.

bering

legendary

Activity: 2898

Merit: 1006

Leading Crypto Sports Betting & Casino Platform

this is terrible lose and that's why many people wouldn't recommend martingale strategy for playing dice because this is would make your money lost with faster and just forget martingale and similar strategy in gambling because these strategy wouldn't working well again to us

Indrawan77

hero member

Activity: 1274

Merit: 516

Never try to play martingale, it will never give any profit to gambler, i ever used the technique several times but in the end i always lose all of my money
So i suggested to stay away from martingale, you will never win using martingale

Snorek

legendary

Activity: 1400

Merit: 1001

Another gambler bankrupted by martingale, why I am not surprised much?
People often tend to forget how with initial 0.01 BTC bet after couple loses you will be betting thousand of dollars.
From my experience martingale is a 'strategy' that seems to result in the most incidents of losing entire bankrolls of all betting progression systems.

panjul07

legendary

Activity: 3500

Merit: 1354

Quote from: DarkStar_ on June 06, 2016, 10:43:18 PM

Ouch, really sad to see someone losing 3+ bitcoin while trying to win 0.1 BTC (assuming that was his base bet). He should have just done a 3 BTC bet on a 1.04 multiplier, as it is faster and safer. Hopefully he could afford the logs and just wanted to have some fun, but it easily could have been someone who was dumb enough to think it would actually work. At least he made Stunna happy.

All in 3btc on 1.04 multiplier is also risky because he could lose in his first bet. Although his chance to lose is low but it is not safer bet imo, he was just in a bad luck to lose those 3+btc.

Caladonian

hero member

Activity: 1302

Merit: 540

another victim of martinfail strategy, that a huge amount he might be a rich person or a professional gambler
afford to lose that amount I guess he knows what his doing, I can't see myself losing that much in any gambling
game.

cjrosero

hero member

Activity: 616

Merit: 500

To God Be The Glory!

just seeing the red text and big amount of bitcoin loosing make my heart pounds. i hope he knows what he is doing. who ever you are hohnsohn.

Quote from: DarkStar_ on June 06, 2016, 10:43:18 PM

Ouch, really sad to see someone losing 3+ bitcoin while trying to win 0.1 BTC (assuming that was his base bet). He should have just done a 3 BTC bet on a 1.04 multiplier, as it is faster and safer. Hopefully he could afford the logs and just wanted to have some fun, but it easily could have been someone who was dumb enough to think it would actually work. At least he made Stunna happy.

yeah im also hoping that he could afford losing that bunch of bitcoin, if were him, if want to have fun ill just spend those bitcoin with my friends and party.

DarkStar_

legendary

Activity: 2772

Merit: 3284

Ouch, really sad to see someone losing 3+ bitcoin while trying to win 0.1 BTC (assuming that was his base bet). He should have just done a 3 BTC bet on a 1.04 multiplier, as it is faster and safer. Hopefully he could afford the logs and just wanted to have some fun, but it easily could have been someone who was dumb enough to think it would actually work. At least he made Stunna happy.

bitkilo

legendary

Activity: 1638

Merit: 1010

https://www.bitcoin.com/

Just goes to show that there are no perfect gambling strategies for winning, hope he could afford to loose it.

tsaroz

legendary

Activity: 3094

Merit: 1069

DGbet.fun - Crypto Sportsbook

Don't know who this guy is but he lost over 3.8 BTC within a minute playing dice with martingale strategy. One of the largest lose I have encountered.

Topic: Just another example of Martingale lose (Read 1849 times)