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?
That does not matter because you are now risking more than a lot to win very little. It also does not take away the edge if the dice site. It is always there no matter what strategy you try to use. It would be better to win by 50% and control the amount of bets depending if you are winning or losing.