So I decided to experiment and so far I have not gone bankrupt. Investment was 17mBTC and I have not gone above 6 consecutive losses. I am betting a microscopic amount and 17mBTC covers martingale increments up to 7 times. Hesitant to try more money but so far I have done about 30,000 bets. Playing under 82, wagered 6mBTC and profit is .25. The math works out to about $1.00 -$1.50 in profits per day at this rate. I'm not playing with the martingale increment of 8 times like I want but rather 6. 8 Times doesn't ensure that I can cover 7 consecutive losses. However, if this does work, then in theory I could add money and keep playing so that each bet was larger and profits should increase. However, I would imagine that to make 100 times my .25mBTC would take 100 times the bankroll. 1700mBTC. To make 25 per day is a decent amount of money but thats also a lot to risk losing. I will have to see if this bet experiment goes beyond 7 consecutive. I have definitely seen 6.
Like I was saying though, a large enough bankroll seems like a plausible way to insulate from bankruptcy but there is no guarantee you won't get 15 losses in a row I guess.
i was able to have 20+ losing streak when i was still playing dice thinking that having a huge bankroll will allow me to take advantage of this martingale strategy but shit happens and it was a big loss that i made in my entire gambling activity losing almost a half btc if i still remember
it right from then i stop playing base luck games and focus only with sports bet and trading alts.
That explains already that using martingale does not guarantee a win, no one will ever be successful if it is applied in dice. Using martingale should be done based on the right timing, and for me I will not apply that in dice in the long run, I have also a bad experience with martingale so that makes me learn from my mistakes. When you are new with this method, you will be aggressive but once you tried it, you will surely feel the reality.