Quote from: ufaiz50 on April 11, 2017, 03:37:31 AM

Quote from: nydiacaskey01 on April 10, 2017, 04:00:08 AM

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 ever been lost twice a streak by setting the chance to win 90% so the chance of losing streak remains. I think the way it was not worth besides it does not deny losing streak but it also profit is not compatible with the capital loss when you lose.

That is possible because it is solely based on probability and regardless of the winning chance you put, losing streak could happen and sometimes we get frustrated when that occurs. I would also suggest to think of the probability than the luck that we might have in gambling since probability are more accurate than luck itself, that way we will not make any experiment that would not give us a good chance of winning.