My betting system on Primedice
I recently started gambling on Primedice and I'm suprised that my Martingale system works. I use the Kelly criterion to get my base bet and then I play until I have 1.5 times the amount I had.
My system is pretty simple, I calculate my base bet with 0.001 times the amount I have on hand and then I auto roll away.
My settings are:
Payout: 2.667
Increase on loss: 77%
The formula for the base bet is:
balance * 0.001 * kelly
kelly=(2.667 * 0.3712 - 0.6288) / 2.667 which equals about 13.5% or 0.135
So for example you have 1 Bitcoin your base bet would be 0.000135 Bitcoin.
I recommend a starting balance of 0.01.
If you don't have a Primedice account I would appreciate it, if you would use my affiliate link: https://primedice.com/?c=nerdlab
Be careful when gambling. There's no guarantee on winning. The odds of losing with this method are about 0.15%
If you live in the US you have to use a VPN service to deposit, I recommend http://www.cyberghostvpn.com/ for this.
Dont know why you are surprised Martingale works. Of course it works, the only problem with it in real world is you need to have an infinite supply of bitcoins to guarantee yourself a win on one particularly unlucky streak.