Quote from: Hatcher on March 02, 2017, 10:40:46 AM

The way gambling works is that those offering the games don't pay out fair odds when you win. This is called a house edge and no betting strategies can beat it. So yes, you will fail.

Not true, martingale can work very well in theory, if you have almost unlimited amounts of money, this way the changes of losing are ludicrously low.

Quote from: Ayers on March 02, 2017, 10:42:59 AM

Quote from: MarvelousAQL on March 02, 2017, 10:38:03 AM

I've got 50mB; and i betting at 0.00001mB increase bet by 100% on loss. If someone can explain to me how i will lose and how gambling actually works then please explain further. Because betting at such a low value i would have to fail more than 20times right? So is the game really fair or how does it work?

it work that unless they have 0 edge in percentage, the odds are aginst you, basically instead of being 50%/50% it's 49%/51% for them, therefore if you do 100 bet, they win 51 of them and you win only 49, every 100 bet you lose 1, in the end you are losing, but you can be lucky of course

And thats why it is such a dumb idea to play a game with no skill required, but pure luck. You're always going to end up losing.

OP you can probably make are 10% profit without any huge risks using martingale, however this is ofcourse theoretically seen.

Quote from: MarvelousAQL on March 02, 2017, 10:38:03 AM

I've got 50mB; and i betting at 0.00001mB increase bet by 100% on loss. If someone can explain to me how i will lose and how gambling actually works then please explain further. Because betting at such a low value i would have to fail more than 20times right? So is the game really fair or how does it work?

Quote

Yes, but the "ball" or "computer" does not remember where it was the last time. Everytime it rolls it has a 50% change of coming on either red or black. Therefore your changes are; E ≈ ½ N x B

http://math.stackexchange.com/questions/1407772/calculating-the-probability-to-win-with-martingale-in-roulette

See this post to calculate how much change you have of losing with your 50mBTC. (if you want to make for example 30% profit..)