I always thought that gambling was something most people knew to be dangerous, and a fast-lane towards bankruptcy.
However, new technologies bring hype to play and old strategies resurface because now it's obviously the way to go - but it isn't.
Today I'm writing this article because I have tons of friends who handle crypto and keep losing it to the Martingame strategy in Dice.
If you played those dice games and used Martingale, I want to hear your testimony on how you lost your bank down on the comments section - don't be ashamed, the technique sounds good on paper.
... it's just that Maths are a complicated thing that can screw you over faster than you can calculate outcomes.
You'll be given a dice with 100 sides to roll, and you can bet from 0 to 96 numbers. The more numbers you bet, the less you'll get in profit if you win.
If you lose, you get nothing.
So, if you bet on 50 numbers, you have a 50% chance of winning double your bet.
The Martingale strategy is when you bet the double of your initial bet when you lose, so when you win you cover the losses and even profit enough for a new bet.
If you lose again, you double the bet again and repeat the steps until you finally win, and when you win you get the money from all losses back, plus another bet worth of profits.
It sounds really good on paper.
You bet 1, lose, you bet 2 - win 4.
You bet 1, lose, you bet 2, lose, you bet 4 - win 8
So you see, no matter how many times you lose, if you continue it to infinity, you get ZERO CHANCE of losing money.
Except there's no such thing as infinity in the casino world.
Plus, the maths aren't really like this.
Well, for starters, probability is a hard subject to wrap one's head about... fortunately this can be explained quite easilly.
But that is not all, it seems that I am not the only one annoyed at how the trend is picking up, and there was even a guy who created a simulator for people to test their strategies.
In my runs, the bankroll goes to 0 in about 15-100 turns.
You can try it and get different results since it's a game of chance, but one thing is common in all:
Just don't risk your whole bank, it's not worth it, keep your hard earned crypto safe.
Don't crucify me casino owners, but you know it to be true.
"The truth is, the game was rigged from the start."