Martingale Strategy - page 2. | Bitcointalksearch.org

asdlolciterquit

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Quote from: Marcoser123321 on November 05, 2014, 11:15:00 PM

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.

it's not easy bet more and more sats when you keep losing. Trust me.

pawel7777

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Quote from: asuryan180 on November 06, 2014, 04:35:32 AM

...

If you have 1 btc you can afford all these bets (last bet is 0.33)

So yea 26 loss streak is extremely rare, on the other side betting 1 satoshi is really low (right now 10k satoshi = 0.03 USD)
Meaning that you are basically betting 0.000003 each bet so you need to win 10.000 bets to win just 0.03 USD
100.000 to win 0.3 and 1 million to win 3USD, Unless you have a betting bot that can do that extremely fast i dont see how it would work

Wrong. You assumed that every bet is a winning bet. In practice, you'd need at least double that number.

But you're right, with the example you stated, without superfast bot, it won't even cover the electricity cost.

It's better idea to modify martingale. What I prefer to do is set payout rate at around x1.1 and then (on loss) multiply basic stake by slightly above x10. Then most of the bets are winning bets (statistically 9 out of 10). That massively speeds up the process.

IamNotSure

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Indeed, in gambling it's just about the EV. Dice games (and casinos like the one I'm referring, etc.) all have negative EV.

If you want to gamble, try poker, find a table with a reckless guy who goes all in all the time, and call him when you have a high pocket pair. You'll play at +EV, you can check the probability down here. You'll have to be patient because those sucker usually don't last Grin

http://www.texasholdem-poker.com/preflop_hand_comparisons

rivoke

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unfortunately no strategy works in gambling

pawel7777

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Quote from: Marcoser123321 on November 05, 2014, 11:22:43 PM

So this method doesn't work then?

It works great. It guarantees winning, you 'only' need 2 things:

1) unlimited funds
2) fair game with no max bet limit

Just a side note: some time ago Dooglus published a records from JustDice, the longest martingale streaks (win/lose) were both above 30.

asuryan180

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I mean if you bet 1 satoshi it will work for a looong time since:

1
2
4
8
16
32
64
128
256
512
1024
2048
4096
8192
16384
32768
65536
131072
262144
524288
1048576
2097152
4194304
8388608
16777216
33554432 At this point you need a 26 loss streak to lose

If you have 1 btc you can afford all these bets (last bet is 0.33)

So yea 26 loss streak is extremely rare, on the other side betting 1 satoshi is really low (right now 10k satoshi = 0.03 USD)
Meaning that you are basically betting 0.000003 each bet so you need to win 10.000 bets to win just 0.03 USD
100.000 to win 0.3 and 1 million to win 3USD, Unless you have a betting bot that can do that extremely fast i dont see how it would work

myohmy81

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Quote from: Clint on November 06, 2014, 12:32:54 AM

martingale doesnt work for me, in the end you will lose all your bitcoins Undecided

i agree too
i think good choice that Equal bets rather than martingale

Clint

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martingale doesnt work for me, in the end you will lose all your bitcoins Undecided

micky123

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I call martingale, "martinfail". I always lose when i martingale for some reason. You need to have really deep pockets for martinfail to work. I have lost 350K of reddcoins once using martinfail. Sine then, i have stopped playing martinfail. Now my strat is simple, i play at 21% win chance with a 50% upgrade on every loss. Seems to be working well for me so far. There have been the occasional losses, but nothing that i could not recover from. Still, you will need a huge balance to even attempt something like this and its clearly not for the weak of heart Cheesy

yenzae0215

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its good but if 15-20 lossing streak comes, i dont know what will you feel Cheesy

GreekBitcoin

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getmonero.org

Quote from: Marcoser123321 on November 05, 2014, 11:22:43 PM

Quote from: onemorebtc on November 05, 2014, 11:21:30 PM

Quote from: Marcoser123321 on November 05, 2014, 11:15:00 PM

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.

all martingale does is shifting the odds.

lets say you play a dice game offering only 50:50 odds. using martingale you can make 25:75 for you (you win more often but less).

its still -EV: so only way to win is not to play Wink

PS: martingale does work if you have a game with does not have a bet-maximum: you wont find any...

So this method doesn't work then?

Nope. There are some nice simulations that i cant find right now. Basically you need infinite money supply in order to be sure. And most gambling tables will have a maximum.

krishatnet

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It is very risky. It will erode all your balance if you loss your bets. It is my own experience.

onemorebtc

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Quote from: Marcoser123321 on November 05, 2014, 11:22:43 PM

Quote from: onemorebtc on November 05, 2014, 11:21:30 PM

Quote from: Marcoser123321 on November 05, 2014, 11:15:00 PM

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.

all martingale does is shifting the odds.

lets say you play a dice game offering only 50:50 odds. using martingale you can make 25:75 for you (you win more often but less).

its still -EV: so only way to win is not to play Wink

PS: martingale does work if you have a game with does not have a bet-maximum: you wont find any...

So this method doesn't work then?

not if you want to make money.

Marcoser123321

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Activity: 126

Merit: 100

Quote from: onemorebtc on November 05, 2014, 11:21:30 PM

Quote from: Marcoser123321 on November 05, 2014, 11:15:00 PM

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.

all martingale does is shifting the odds.

lets say you play a dice game offering only 50:50 odds. using martingale you can make 25:75 for you (you win more often but less).

its still -EV: so only way to win is not to play Wink

PS: martingale does work if you have a game with does not have a bet-maximum: you wont find any...

So this method doesn't work then?

onemorebtc

sr. member

Activity: 266

Merit: 250

Quote from: Marcoser123321 on November 05, 2014, 11:15:00 PM

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.

all martingale does is shifting the odds.

lets say you play a dice game offering only 50:50 odds. using martingale you can make 25:75 for you (you win more often but less).

its still -EV: so only way to win is not to play Wink

PS: martingale does work if you have a game with does not have a bet-maximum: you wont find any...

Marcoser123321

full member

Activity: 126

Merit: 100

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.

Topic: Martingale Strategy - page 2. (Read 1812 times)