So I tried this strategy at a dice site and I'm thinking of the odds of winning
So I set the chance of winning to 92% and start with minimum bet of 1000 Satoshis with profit of 76 Satoshis
Now, I could win like 9-11 times in a row, sometimes higher and lose
After losing, what would be the chance that I could lose again twice in a row?
I'm thinking of if I lose with that settings, I could go all-in with higher bet since my chance winning is higher.
What do you guys think?
The chance of losing in the next roll is 8% and stays the same for each successive roll. Just to let you know this is not a winning strategy so don't risk your money like that. As a matter of fact you can easily get 5 more losing rolls after this.