Topic: This Is How You Can Earn Bitcoins From Dice Games - page 2. (Read 14936 times)
Dice games will scam you
The method the op is describing has the bet doubled after each loss, even though the payout is 3x. The eventual win will pay back more than the total bet. However, it also means the bet will increase faster which leads to an increased risk of going bust.
no you will lose trust me
What is interesting with just-dice though is the user contributed bankroll. Right now the "max profit" is 1% of the bankroll, but in the beginning it was 100%. This means that back then you could actually martingale because each time you lose, the bank gains that much, essentially making the bank have unlimited bankroll.
Except that it would be crazy to risk 100% of the bankroll... Just-Dice has never risked any more than 1% of bankroll per roll.
Can you reapply that for a Martingale method that is unconventional? This allows for 44 bets at 3:1 odds before reaching a total of 1BTC, but the catch is that you never win more than 3 satoshis. It would take forever for this to add up to something meaningful, but I would be curious how many bets it takes for it to fail. Sometimes i do this on Roulette when bored at work (betting on the middle third for easy clickability) and it hasn't failed yet.
I fail 100% of the time when trying to do traditional Martingale (doubling the bet) on 3:1, but I usually only allow myself 12 failures in a row because I am not interested in satoshi betting. I usually start at 200 satoshis.
Bet is staggered until 14 satoshi because you can't go up by a 1.5 multiplier until then.
Bet Win Total Bet Profit
0.00000001 0.00000003 0.00000001 0.00000002
0.00000002 0.00000006 0.00000003 0.00000003
0.00000003 0.00000009 0.00000006 0.00000003
0.00000004 0.00000012 0.00000010 0.00000002
0.00000006 0.00000018 0.00000016 0.00000002
0.00000009 0.00000027 0.00000025 0.00000002
0.00000014 0.00000042 0.00000039 0.00000003
0.00000021 0.00000063 0.00000060 0.00000003
0.00000032 0.00000095 0.00000092 0.00000003
0.00000047 0.00000142 0.00000139 0.00000003
0.00000071 0.00000213 0.00000210 0.00000003
0.00000106 0.00000319 0.00000316 0.00000003
0.00000159 0.00000478 0.00000475 0.00000003
0.00000239 0.00000718 0.00000715 0.00000003
0.00000359 0.00001076 0.00001073 0.00000003
0.00000538 0.00001615 0.00001612 0.00000003
0.00000807 0.00002422 0.00002419 0.00000003
0.00001211 0.00003633 0.00003630 0.00000003
0.00001816 0.00005449 0.00005446 0.00000003
0.00002725 0.00008174 0.00008171 0.00000003
0.00004087 0.00012261 0.00012258 0.00000003
0.00006131 0.00018392 0.00018389 0.00000003
0.00009196 0.00027587 0.00027584 0.00000003
0.00013794 0.00041381 0.00041378 0.00000003
0.00020690 0.00062071 0.00062068 0.00000003
0.00031036 0.00093107 0.00093104 0.00000003
0.00046554 0.00139661 0.00139658 0.00000003
0.00069830 0.00209491 0.00209488 0.00000003
0.00104746 0.00314237 0.00314234 0.00000003
0.00157118 0.00471355 0.00471352 0.00000003
0.00235678 0.00707033 0.00707030 0.00000003
0.00353516 0.01060549 0.01060546 0.00000003
0.00530275 0.01590824 0.01590821 0.00000003
0.00795412 0.02386235 0.02386232 0.00000003
0.01193118 0.03579353 0.03579350 0.00000003
0.01789677 0.05369030 0.05369027 0.00000003
0.02684515 0.08053544 0.08053541 0.00000003
0.04026772 0.12080317 0.12080314 0.00000003
0.06040158 0.18120475 0.18120472 0.00000003
0.09060238 0.27180713 0.27180710 0.00000003
0.13590356 0.40771069 0.40771066 0.00000003
0.20385534 0.61156603 0.61156600 0.00000003
0.30578302 0.91734905 0.91734902 0.00000003
0.45867453 1.37602358 1.37602355 0.00000003
I fail 100% of the time when trying to do traditional Martingale (doubling the bet) on 3:1, but I usually only allow myself 12 failures in a row because I am not interested in satoshi betting. I usually start at 200 satoshis.
Bet is staggered until 14 satoshi because you can't go up by a 1.5 multiplier until then.
Bet Win Total Bet Profit
0.00000001 0.00000003 0.00000001 0.00000002
0.00000002 0.00000006 0.00000003 0.00000003
0.00000003 0.00000009 0.00000006 0.00000003
0.00000004 0.00000012 0.00000010 0.00000002
0.00000006 0.00000018 0.00000016 0.00000002
0.00000009 0.00000027 0.00000025 0.00000002
0.00000014 0.00000042 0.00000039 0.00000003
0.00000021 0.00000063 0.00000060 0.00000003
0.00000032 0.00000095 0.00000092 0.00000003
0.00000047 0.00000142 0.00000139 0.00000003
0.00000071 0.00000213 0.00000210 0.00000003
0.00000106 0.00000319 0.00000316 0.00000003
0.00000159 0.00000478 0.00000475 0.00000003
0.00000239 0.00000718 0.00000715 0.00000003
0.00000359 0.00001076 0.00001073 0.00000003
0.00000538 0.00001615 0.00001612 0.00000003
0.00000807 0.00002422 0.00002419 0.00000003
0.00001211 0.00003633 0.00003630 0.00000003
0.00001816 0.00005449 0.00005446 0.00000003
0.00002725 0.00008174 0.00008171 0.00000003
0.00004087 0.00012261 0.00012258 0.00000003
0.00006131 0.00018392 0.00018389 0.00000003
0.00009196 0.00027587 0.00027584 0.00000003
0.00013794 0.00041381 0.00041378 0.00000003
0.00020690 0.00062071 0.00062068 0.00000003
0.00031036 0.00093107 0.00093104 0.00000003
0.00046554 0.00139661 0.00139658 0.00000003
0.00069830 0.00209491 0.00209488 0.00000003
0.00104746 0.00314237 0.00314234 0.00000003
0.00157118 0.00471355 0.00471352 0.00000003
0.00235678 0.00707033 0.00707030 0.00000003
0.00353516 0.01060549 0.01060546 0.00000003
0.00530275 0.01590824 0.01590821 0.00000003
0.00795412 0.02386235 0.02386232 0.00000003
0.01193118 0.03579353 0.03579350 0.00000003
0.01789677 0.05369030 0.05369027 0.00000003
0.02684515 0.08053544 0.08053541 0.00000003
0.04026772 0.12080317 0.12080314 0.00000003
0.06040158 0.18120475 0.18120472 0.00000003
0.09060238 0.27180713 0.27180710 0.00000003
0.13590356 0.40771069 0.40771066 0.00000003
0.20385534 0.61156603 0.61156600 0.00000003
0.30578302 0.91734905 0.91734902 0.00000003
0.45867453 1.37602358 1.37602355 0.00000003
Isn't profitable long term, but could be fun, because there is much volatility and it takes some time.
Does Just-Dice provide a high frequency betting interface I didn't notice?
Any thoughts about a good exit-strategy?
After losing 582 simulated Bitcoin, the average number of bets was 156,764, the average longest bet run 27.24 and the average highest balance 6.26276818. The highest reached balance was 481.1572913...
My ruleset:
Does Just-Dice provide a high frequency betting interface I didn't notice?
Any thoughts about a good exit-strategy?
After losing 582 simulated Bitcoin, the average number of bets was 156,764, the average longest bet run 27.24 and the average highest balance 6.26276818. The highest reached balance was 481.1572913...
My ruleset:
Code:
Chance to win = 0.3
Payout = 3
Initial Balance = 1.00000000
Initial Betsize = 0.00000001
If Balance < Initial Betsize:
Stop it, you're broke..
If Last Bet = Won:
Next Betsize = Max(Initial Betsize, Initial Betsize * Balance)
If Last Bet = Lost:
Next Betsize = Min(Balance, Betsize * 2)
Payout = 3
Initial Balance = 1.00000000
Initial Betsize = 0.00000001
If Balance < Initial Betsize:
Stop it, you're broke..
If Last Bet = Won:
Next Betsize = Max(Initial Betsize, Initial Betsize * Balance)
If Last Bet = Lost:
Next Betsize = Min(Balance, Betsize * 2)
I presume your "longest bet run" means longest sequence of consecutive loses. If so, I am a little bit concerned that out of all your attempts, your longest bet run is either 27 or 28. Seems a bit strange that regardless of balance at any point in time, it should remain more or less static.
First and most important you NEED a dice game offering Satoshi or smaller bet size. Yes some sites offer smaller than Satoshi bets such as http://primedice.com/index.php?aff=70FDF79abe83 which has no minimum bet <- Yes that is an affiliate link use it or don't it's up to you. http://Just-Dice.com is another great site with Satoshi size bets (featured below). Both Prime and Just can be trusted 100%. Deposit and withdrawal is flawless, both sites work without any issues, and neither is lacking in the design department.
I had originally planned on building BTC 0.3 to BTC1 but as you'll see later I decided to shift into hyper drive with 4x bet multiplier which honestly isn't safe to bet with under BTC2. However I recommend 2.5-3x as a safer bet since it is the best option for anyone with less than a 2 bitcoin balance. 3x earns a little bit slower but you wont get insane amounts of losses in a row either.
The theory behind this system is you want to lose. Yes I know it sounds insane! It'll all become clear soon. Combining 3x multiplier with the famous Martingale betting system allows you be rewarded the more times you lose the more you will win.
Here's an example Bucky bets 10 loss bets 20 loss bets 40 loss bets 80 win 1/3 of the win covers the original bet 1/3 of the win covers all the previous bets and 1/3 is added to Bucky's balance. This is much better than betting 2x multiplier since every martingale level/loss only returns 1 betting unit to the player. If your going to risk the money might as well get paid for it right?
Where most martingale systems fail this one shines. Roulette is a classic example of a true martingale game. Red/black odd/even ect all classic martingale bets with roughly 50% odds. The problem is most people don't carry around $50,000 to cover the larger losing streaks. With Bitcoin and Satoshi size beting we can avoid going bust by betting the smallest number in hopes of a long losing streak of 10-20 (3x example more with 4x) which will earn anywhere from BTC0.001 to .1. The point is odds are in our favor 30 losses in a row will not happen on a 33% bet (again 3x example). We use these odds to play the system in reverse. The result is a lot of small somewhat insignificant wins and a few really large ones. Then we run with the money while we still have it.
This is how the night started
http://i1083.photobucket.com/albums/j382/johnny2pips/JustDice_1_zps413cd1a4.png
The idea was to start with a vary small balance and build up to a bitcoin. Instead (as you'll see below) I decided to deposit BTC1.8 ultimately risking more to make more. The idea is the same no matter what the starting balance is from BTC0.01-100.
http://i1083.photobucket.com/albums/j382/johnny2pips/Earn_Bitcoins_Part_2_zpsdd278457.png
Couple of notes.
1. I actually started with 2 then bet 2 again. This was an accident. The bet should have started with 1 then 2 ect.
2. Totally skipped number 4 when numbering note bubbles.... Doh!
This last photo is to prove I really did start with BTC1.8.
http://i1083.photobucket.com/albums/j382/johnny2pips/Earn_Bitcoins_Part_3_zps3e7f630b.png
A good portion of total bets were from when the balance was BTC0.3. So don't think it'll take 9,000 bets to make 3 bitcoins. Most of this money was made in the last 2-3000 bets. At 20-40 bets a minute it adds up fast.
Good Luck and Good Betting,
PokerBro
Edit: Working on another example
http://i1083.photobucket.com/albums/j382/johnny2pips/PrimeDice1_zpsbd5f64eb.png
Update Profit 10 bitcoins
http://i1083.photobucket.com/albums/j382/johnny2pips/PrimDicex2_zps51529e6c.png
Caution do NOT get greedy. These betting websites are setup to take your money not give you theirs.
I had originally planned on building BTC 0.3 to BTC1 but as you'll see later I decided to shift into hyper drive with 4x bet multiplier which honestly isn't safe to bet with under BTC2. However I recommend 2.5-3x as a safer bet since it is the best option for anyone with less than a 2 bitcoin balance. 3x earns a little bit slower but you wont get insane amounts of losses in a row either.
The theory behind this system is you want to lose. Yes I know it sounds insane! It'll all become clear soon. Combining 3x multiplier with the famous Martingale betting system allows you be rewarded the more times you lose the more you will win.
Here's an example Bucky bets 10 loss bets 20 loss bets 40 loss bets 80 win 1/3 of the win covers the original bet 1/3 of the win covers all the previous bets and 1/3 is added to Bucky's balance. This is much better than betting 2x multiplier since every martingale level/loss only returns 1 betting unit to the player. If your going to risk the money might as well get paid for it right?
Where most martingale systems fail this one shines. Roulette is a classic example of a true martingale game. Red/black odd/even ect all classic martingale bets with roughly 50% odds. The problem is most people don't carry around $50,000 to cover the larger losing streaks. With Bitcoin and Satoshi size beting we can avoid going bust by betting the smallest number in hopes of a long losing streak of 10-20 (3x example more with 4x) which will earn anywhere from BTC0.001 to .1. The point is odds are in our favor 30 losses in a row will not happen on a 33% bet (again 3x example). We use these odds to play the system in reverse. The result is a lot of small somewhat insignificant wins and a few really large ones. Then we run with the money while we still have it.
This is how the night started
http://i1083.photobucket.com/albums/j382/johnny2pips/JustDice_1_zps413cd1a4.png
The idea was to start with a vary small balance and build up to a bitcoin. Instead (as you'll see below) I decided to deposit BTC1.8 ultimately risking more to make more. The idea is the same no matter what the starting balance is from BTC0.01-100.
http://i1083.photobucket.com/albums/j382/johnny2pips/Earn_Bitcoins_Part_2_zpsdd278457.png
Couple of notes.
1. I actually started with 2 then bet 2 again. This was an accident. The bet should have started with 1 then 2 ect.
2. Totally skipped number 4 when numbering note bubbles.... Doh!
This last photo is to prove I really did start with BTC1.8.
http://i1083.photobucket.com/albums/j382/johnny2pips/Earn_Bitcoins_Part_3_zps3e7f630b.png
A good portion of total bets were from when the balance was BTC0.3. So don't think it'll take 9,000 bets to make 3 bitcoins. Most of this money was made in the last 2-3000 bets. At 20-40 bets a minute it adds up fast.
Good Luck and Good Betting,
PokerBro
Edit: Working on another example
http://i1083.photobucket.com/albums/j382/johnny2pips/PrimeDice1_zpsbd5f64eb.png
Update Profit 10 bitcoins
http://i1083.photobucket.com/albums/j382/johnny2pips/PrimDicex2_zps51529e6c.png
Caution do NOT get greedy. These betting websites are setup to take your money not give you theirs.
Wow that is cool
Isn't profitable long term, but could be fun, because there is much volatility and it takes some time.
Does Just-Dice provide a high frequency betting interface I didn't notice?
Any thoughts about a good exit-strategy?
After losing 582 simulated Bitcoin, the average number of bets was 156,764, the average longest bet run 27.24 and the average highest balance 6.26276818. The highest reached balance was 481.1572913...
My ruleset:
Does Just-Dice provide a high frequency betting interface I didn't notice?
Any thoughts about a good exit-strategy?
After losing 582 simulated Bitcoin, the average number of bets was 156,764, the average longest bet run 27.24 and the average highest balance 6.26276818. The highest reached balance was 481.1572913...
My ruleset:
Code:
Chance to win = 0.3
Payout = 3
Initial Balance = 1.00000000
Initial Betsize = 0.00000001
If Balance < Initial Betsize:
Stop it, you're broke..
If Last Bet = Won:
Next Betsize = Max(Initial Betsize, Initial Betsize * Balance)
If Last Bet = Lost:
Next Betsize = Min(Balance, Betsize * 2)
Payout = 3
Initial Balance = 1.00000000
Initial Betsize = 0.00000001
If Balance < Initial Betsize:
Stop it, you're broke..
If Last Bet = Won:
Next Betsize = Max(Initial Betsize, Initial Betsize * Balance)
If Last Bet = Lost:
Next Betsize = Min(Balance, Betsize * 2)
A analytical table speaks louder:
https://imageshack.us/a/img515/9012/64n.png
Example shown in post #1 has an odd of 1/1329 (just slightly more than 10 consecutive results at 50%)
Runs of 14 or 15 in a 50% game is very common, equate to around 36 runs at 4x multiplier & doubling your bets every time you loose (last bet would be BTC343 and requires a bankroll of BTC687).
See for yourself why this is a sure receipt for bankruptcy.
https://imageshack.us/a/img515/9012/64n.png
Example shown in post #1 has an odd of 1/1329 (just slightly more than 10 consecutive results at 50%)
Runs of 14 or 15 in a 50% game is very common, equate to around 36 runs at 4x multiplier & doubling your bets every time you loose (last bet would be BTC343 and requires a bankroll of BTC687).
See for yourself why this is a sure receipt for bankruptcy.
Eventually there will be a string of losses that either busts you or hits the maximum bet. Its true that it is pretty unlikely when you first start the round at 1 satoshi that you will have 30 losses in a row. But when you are on loss #29, roll #30 will still have a 66% or 75% chance of losing, it doesn't care that about your previous rolls.
The only way martingale can guarantee a profit is if you have unlimited money and the house has unlimited money.
The only way martingale can guarantee a profit is if you have unlimited money and the house has unlimited money.
What is interesting with just-dice though is the user contributed bankroll. Right now the "max profit" is 1% of the bankroll, but in the beginning it was 100%. This means that back then you could actually martingale because each time you lose, the bank gains that much, essentially making the bank have unlimited bankroll.
Eventually there will be a string of losses that either busts you or hits the maximum bet. Its true that it is pretty unlikely when you first start the round at 1 satoshi that you will have 30 losses in a row. But when you are on loss #29, roll #30 will still have a 66% or 75% chance of losing, it doesn't care that about your previous rolls.
The only way martingale can guarantee a profit is if you have unlimited money and the house has unlimited money.
The only way martingale can guarantee a profit is if you have unlimited money and the house has unlimited money.
Thanks for this im going to give it a try.
1. Doubling on 3x payout is unnecessary to apply martingale.
2. I lost 25 times in a row on 50% win chance on Just-Dice, which is expectable. On a 33% winchance you will quickly reach way bigger losing streaks
2. I lost 25 times in a row on 50% win chance on Just-Dice, which is expectable. On a 33% winchance you will quickly reach way bigger losing streaks
If you had an infinite bankroll, you would still hit the betting limit at some point 
This is a good way to lose all of your money in the span of a few minutes or hours. OP does not understand basic statistical probability. Losing does not make your chance of winning increase.
My roommate lost all 4 of his bitcoin doing martingale in coinroll.it after seeing me win $80 in 20 minutes. Of course I only bet what I could afford to lose. He was rather upset though and after probability kicked his ass he stopped using BTC 
As a side note, this betting system is actually quite amazing with bitcoin because it eliminates two of the big downfalls of doing it in casinos: time and table limits.
Now if only you had an infinite bankroll
As an investor of just-dice I'd like to say: Keep it going! 
guess I should invest too, sounds like easy money
As an investor of just-dice I'd like to say: Keep it going!
Pretty sure the OP is an investor too. Or at least a donator.
This is a good way to lose all of your money in the span of a few minutes or hours. OP does not understand basic statistical probability. Losing does not make your chance of winning increase.
As an investor of just-dice I'd like to say: Keep it going!
guess I should invest too, sounds like easy money
As an investor of just-dice I'd like to say: Keep it going!
Pretty sure the OP is an investor too. Or at least a donator.
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