Ninjastic
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Topic
Board Gambling
Re: Stop gambling your coins unless you're playing for entertainment!
by
kokojie
on 18/10/2012, 13:04:12 UTC
Quote from: TradeFortress on October 18, 2012, 11:10:01 AM
Quote from: cAPSLOCK on October 18, 2012, 07:29:54 AM
Quote from: TradeFortress on October 17, 2012, 11:41:15 PM
The more you play, the more you're likely to lose them all. Don't play BTC gambling games to try and make you rick or "turn 0.24 btc into 0.25 btc for a nice number, they're not worth it. Only gamble if you want to lose your coins.



But gambling is the single solitary way I have made my coins.  I started from zero and have piled up dozens and dozens of BTC, all from gambling.

Wouldn't it be more accurate to say not to place bets that have a negative expected value as a known outcome? If one can find bets where the expected value is generally positive should one not take those coins?

I do.
Where the hell do you find a gambling service that has a positive EV?

If you have a good martingale strategy and a bit of good luck, you can play for tens of thousands of rounds, before you lose it all. If you walk away with your winnings before then, you have won.