It was a matter of time when this would happen ( placed a lot of bets on not Martingale, so it already happened a lot of times, just not with Martingale)
I got 16 losses in a row
Starting with bet 0.000001BTC
And last bet was 0.03BTC
Counting a 0.06BTC loss total
Now, my question is, should I try to win it back?
I have a total bank of around 1.6BTC on my disposal
Odds of me losing those 16 bets in a row were 0.00179%
Somewhere around 1 to 60 000
Now, if I place a 0.06BTC there's a 50.5% chance I'll lose
If I lose, I place a 0.12BTC bet, 0.505*0.505= 25.5% chance I'll lose
If I lose, I place a 0.24BTC bet, 0,255025*0,505= 12.88% chance
If I lose, I place a 0.48BTC bet, 0,128787625*0,505= 6.5% chance I'll lose
If I lose, I have a total loss of 0.48+0.24+0.12+0.06 (+0.03) = 0.9BTC (+0.03)
Is it worth it?
Should I cut my losses o.o
Odds of me losing 20 bets in a row should be 1 : 860 000
Which, with me having 500k bets, doesn't sound very good
You got into a series of losses and by some logic you should stop because it's easy to lose even more.But by some law of numbers after you lost 16 times in a row you probably should finally win in next few bets.I think the decision is just for you because money is just yours.If I was in your place I would stop for a while.Since you are in good campaign all you lost will be back to you anyway.I know it's not the same as getting a bet,but let's say it makes sense,at least for me.
If you still decide to bet good luck to you and to get back all the lost
First off, I think gambling is not a good way of earning coins. Gambling in general is not a good way, because when you lose, you would always want to win it back, and thus, you are obliged by your own self to play more, which would prompt you to probably lose some more. I think, like in the reply, if you have experienced a series of loses, you should walk away and regroup instead of jumping on the gun immediately, your judgement and your motive is different and you tend to be blinded by the fact that you are losing a lot already.