If there's one thing I've spent a lot of time doing in the last 2 years or so; it's gambling. Mainly with the use of Bitcoin and other cryptocurrencies. There's a few things I want to point out before I discuss different gambling strategies, so that people have a basic understanding:
- Gambling strategies are just as they sound, specifically planned ways to gamble in order to either maximize or minimize risk/reward.
- There is NO gambling strategy that works 100% of the time. It doesn't matter what anyone tells you or promises, nothing will work 100%, because if such a thing functioned, gambling wouldn't exist. There would be no way for the "House" to profit.
- In this section I'll discuss a few of the strategies for dice that I've come across. There's many more, especially for different forms of gambling (roullette, "dice", etc.) so this is not an all-inclusive guide.
- PROTECT YOURSELF: There are loads of bots and scripts advertised on many gambling dice sites and many of them are dangerous. Please only use bots or scripts that are known to be trusted, or you run the risk of having your funds stolen. One of the bots that I use that I personally trust is DiceBot, made by Seuntjie, and it works for many different gambling dice sites. (Available here: https://bot.seuntjie.com/)
Before we get started, please know that I will be using a theoretical random number generation dice site to explain the probabilites; in this scenario you can play on any multiplier from 1.01x (98%) to 9900x (0.01%) with a House Edge of 1%. Numbers are generated from 0.00 to 99.99.
Standard Increase on Loss:
Increase on loss is a very basic form of gambling with the idea that for every bet you lose, you increase your next bet by a flat percentage in order to maintain a positive profit once you finally win. If you don't have a high enough increase on loss percentage, you will end up losing money, even upon a win. If your percentage of increase is too high, you could be unnecesarrily risking your bankroll, even with a higher profit margin.
Example: In this scenario you decide to play on a 5x payout with a base bet of 0.00100000 Bitcoin (BTC) and an Increase on Loss of 26%. 26% is just high enough to generate a margin of profit on wins, no matter how many losses you have beforehand. You can increase this percentage if you choose to do so to increase the risk and reward outcomes. Here are some examples of different roll outcomes:
1st Roll is a Win:
Bet Amount: 0.00100000 BTC
Payout: 0.00500000 BTC
Profit: 0.00400000 BTC
2nd Roll is a Win:
Bet Amount: 0.00126000 BTC
Payout: 0.00630000 BTC
Profit: 0.00404000 BTC
10th Roll is a Win:
Bet Amount: 0.00800451 BTC
Payout: 0.04002256 BTC
Profit: 0.00507762 BTC
As you can see, because the Increase on Loss is high enough to make up for the previous losses and cover the House Edge of 1%, the profit per bet increases exponentially following the number of losses you have. The more losses you experience before a win = the more profit a bet will provide.
Standard Martingale
Standard Martingale is meant to be a very simply calculated strategy, often used on dice sites, roullette, and many other forms of gambling. The principle is easy to understand, even for people new to the subject; Double your bet on each loss until you win, and then reset to your original base bet upon winning. Standard Martingale is always played on a roughly 2x payout, unless you want to increase the risk/reward by picking a higher payout. Anything less than 2x will only result in slowly dwindling your bankroll.
Example: In this scenario you are again betting with a base bet of 0.00100000 BTC with a double-on-loss mentality on a 2x payout.
1st Roll is a Win:
Bet Amount: 0.00100000 BTC
Payout: 0.00200000 BTC
Profit: 0.00100000 BTC
2nd Roll is a Win:
Bet Amount: 0.00200000 BTC
Payout: 0.00400000 BTC
Profit: 0.00100000 BTC
10th Roll is a Win:
Bet Amount: 0.51200000 BTC
Payout: 1.02400000 BTC
Profit: 0.00100000 BTC
As you can determine from above, no matter the Roll Number on Win, the expected Profit is always 0.00100000 BTC. Standard Martingale is meant to build your bankroll by flat amounts, with simple math to do it. Most people can easily double bet amounts in their heads for ease of use when playing in an actual casino. The Bet Amount increases much faster per bet compared to Increase on Loss because essentially your Increase on Loss is 200%.
Modified Martingale
Modified Martingale is the child of Standard Martingale, meant to follow the same double on half expectancy principle, but for different payouts other than 2x. Keep in mind, Modified Martingale works best with even-numbered payout multipliers like 4x, 6x, 10x, and so on. The basic concept is that you double your bet after you've bet n times where n = half the number of your multiplier. So if you were betting on 6x, you'd double your bet every 3 losses in a row. Modified Martingale still follows the same reset to base bet mentality that Increase on Loss and Standard Martingale do.
Example: In this case you decide to play on a 4x multiplier with a base bet of 0.00100000 BTC again.
1st Roll is a Win:
Bet Amount: 0.00100000 BTC
Payout: 0.00400000 BTC
Profit: 0.00300000 BTC
2nd Roll is a Win:
Bet Amount: 0.00100000 BTC
Payout: 0.00400000 BTC
Profit: 0.00200000 BTC
3rd Roll is a Win:
Bet Amount: 0.00200000 BTC
Payout: 0.00800000 BTC
Profit: 0.00600000 BTC
4th Roll is a Win:
Bet Amount: 0.00200000 BTC
Payout: 0.00800000 BTC
Profit: 0.00400000 BTC
5th Roll is a Win:
Bet Amount: 0.00400000 BTC
Payout: 0.01600000 BTC
Profit: 0.01200000 BTC
As you can see from above, the bets made right after doubling your base bet yield the highest profit compared to the bets made just before doubling your base bet, and the same is true for all other even-numbered payouts like 6x, 10x, 20x, etc.. Regardless of where the win occurs in a streak in Modified Martingale, you will always profit at least something on a win, whether it is large or small depends on where it ocurred. For example, if you were playing on 10x, and you won on the 11th bet, you'd profit a lot more than winning on the 14th bet, since you risked more to get there.
I hope you found this guide useful. If you feel the need to add your own commentary and suggestions in the commens below, please do so. Thanks for reading!
(Also I apologize for the bland material, I'm new here, so formatting and styling is not an A+ yet.)