I bought my first 30 BTC the other day, and decided to try my hand at Satoshi's dice on the 50% slot. Kept betting 3BTC, if I lost I bet 6 BTC, and if I lost that then I bet 12BTC. If I won, I kept betting 3BTC. I believe this is called the martingale strategy. In the last 3 days and over 600 transactions, I've made over 100 BTC. I'm amazed.
This seems incredibly easy and too good to be true. What am I missing here? The coins are confirming and all is well, but I can't imagine how this site stays profitable giving away $1000+ to a user. Does everyone usually win this much?
That's completely normal, I've made over 200 BTC on SDice with my martingale strategy. That's exactly what martingale will do for you, it allow you to win small winnings over time, then at some point, you will meet one gigantic loss. How well martingale works depends on the max bet limit and your own bank roll. In theory, if you had a huge bankroll, and the casino allows extremely large max bet, it's unlikely for you to lose even in millions of rounds of play. But eventually, you will lose, the probability guarantees it.