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?
I have used this strategy before and I must say that it will not guarantee you to profit and maybe loss in the end. You still has 8% chance of losing. Believed me losing twice in a row is possible even if you put 92% chance of winning. I even won more 15x straight and I was happy and increase my bet as my bankroll increases as well. But as the roll continues, I experienced 2x or even 3x losses. So this is not a safe strategy for winning. IMHO.