Re: If I wanted to start a Bitcoin casino... [will pay for help]
Quote from: https://en.wikipedia.org/wiki/Martingale_%28betting_system%29#An_alternative_mathematical_analysis
The conclusion is that players using Martingale strategy pose no threat to a casino. The odds are high that the player will go bust before he is able even to double his money.
Say minimum 0.01BTC max 1000BTC wallet ~1300BTC
0.01
0.02
0.04
0.08
0.16
0.32
0.64
1.28
2.56
5.12
10.24
20.48
40.96
81.92
163.84
327.68
655.36
BUST
Thats 17misses in a row, absolutely possible, however fairly unlikely.
The casino can limit the betting range, but the bot could just jump tables.
And since its a bot, even 0.01BTC per win will be fine, if it can just do 1 win per 5minutes thats 2.88BTC per day per bot/played table, they can even share money pool if the deposit system accepts a low amount of verifications, or you could have bots continuously sitting at different tables, so when the 0.01bot looses a 0.64bet, the next bot takes over at a higher stake table and the first bot starts over on a new round, that way you dont need to move the big cash around.
Ofcause this is not practical, since the risk is alot higher than the gain, a 1000BTC risk for maybe 10BTC/day, you might as well play it all on red and wall away