I wasn’t aware of the risk management while betting, I thought it was kinda reserved just for my trading activity, thanks God I din not lose that last roll, but as I mentioned. I never played anymore...
Risk management is useless in gambling with luck-based games. It does not matter if you place a bet with 1% of your gambling wallet or 100% you still have the same odds of winning and reward if proportional to risk. Risk/money management is necessary only with games in which your opponent does not have statistic advantage over your. F.e Poker.
That's why we have professional Poker players and 0 professional roulette players. Because with luck-based games there is only one factor that determines how much you win/lose - that's luck.
Nice info in those thread, taking that in consideration, I was using the Martingale v4 that it shows there The fibbo progression...
Fibbo progression had one of the worse results. Fibbo is too slow in compare to accumulated lost.
Well i don't have impressive results.
Limit:
1000000
target:
2000000
How manny tests
10000
Casino lost with 0 gamblers out of 10000
No one was able to double portfolio while entering casino with 1 000 000 initial bet - with original martingale 27% gamblers beat casino.
How about lower limits?
Limit:
500
target:
1000
How manny tests
100000
Casino lost with 3460 gamblers out of 100000
Only 3,46% gamblers was able to double. With original martingale 39% gamblers beat casino.
That's because Fibonacci function grow too slow. Means that after 10 lost bets next bet will be 89. Total loss will be 232 what gives net loss. That way you are constantly going down with your wallet.