Quote from: kongosplit on December 29, 2016, 05:20:16 PM

Quote from: Betwrong on December 29, 2016, 10:10:28 AM

Quote from: kongosplit on December 29, 2016, 12:22:24 AM

Quote from: BTCevo on December 29, 2016, 12:14:02 AM

Quote from: Betwrong on December 28, 2016, 09:51:44 AM

Quote from: adaseb on December 27, 2016, 11:35:00 PM

Looking at this photo which was posted yesterday, it doesn't look like a very smart way of gambling. He started at a base bet of 0.08 BTC and using payout 5.00x, and on every loss he kept doing regular martingale.

But since his wins have less than a 20% chance of every roll, then its not uncommon for him to run into a losing streak of 50 losses in a row. If he got 50 losses in a row, he would need the 50th bet to have a value of 88 Million BTC for him to be able to stay in the game, which is far higher than the max bet amount.

~

Sometimes I think that people who perform martingale do not bother to do the maths before starting. I'll try to do my best to explain how big your losses might be with the martingale strategy.

Even if your base bet is just 1 Satoshi your 50th bet would be over 11 Million BTC. If the base bet is 0.08 BTC then after 49 losses in a raw you'll need over 45 Trilllion BTC to make the next bet.

So be careful with that martingale thing, guys. )

There are no people that are stupid enough to do this kind of martingale though. May be for couple of btc they may be take that challenge but to play it for longer run? I dont think that they are going for it. Because there is max pyout on each gambling site so there is no point to bet that high amount if the site can't pay you up

Martinagle is good if you have 50btc in your balance and your base bet is 2000 satoshi. It is almost impossible to lose.

No, it's not impossible, that's what I was talking about, it's pretty possible and I will show you once again.

With the base bet 2,000 sats or 0.00002 BTC you just need to have 22 reds in a row to lose 50 BTC. Even if you are betting with 50% winning chance 22 reds in a row can happen, but with 20% winning chance it will happen more than likely pretty soon. Multiply 0.00002 BTC by 2 22 times and see for yourself.

I'm pretty sure about 17x reds, 18xreds but 22x is to much for 2x.

ahah, well if it was right no casino would exist because everyone would just save around 50 BTC or even more and then just gamble like that.

There is NO limit to the amount of identical results you can get in a row. You could have 100 reds in a row.
It won't happen often of course. But you only need to see it happening once to lose everything.