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?
Dice rolls doesn't have a "memory". The change to lose it immediately after you've already lost a roll are... exactly the same in any other roll. Winning or losing previous rolls does not affect the results in future rolls.
Its the same principle in Roulette or any other game of pure chance. House edge is a house edge. Rolls, spins, black/red, etc every single one is individual in matter of changes.
that's it, we don't even know what would be the result from your next roll, even you place 92% chances to win as we all knew that dice games really needed pure luck in order to win, i already have some bad experience using some strategy like martingales and changing your chances between those high chances to win but in the end still nothing just continue losing, so i give it up.