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.
Do not complicate things so much, maybe we are just over analyze it, the real deal is you will not gonna win whatever winning percentage you will set if you want a long term goal. Simply the house edge will just ruin everything you started and will surely give you a zero in th end.
My advise is, just bet what you like and enjoy what you got for the moment as that would not last for sure.