its pretty safe to say that Cryptocurrencies are a real big gamble. after all buying bitcoin is just giving someone money in exchange that isn't backed up by real life assets.
however if we were to just look at life completely safe and would never take chances, we would miss out on the majority of what defines life.
to get away from the philosophical thoughts here, lets talk about a topic i have been wanting to discuss for a while. the topic of Gambling.
Gambling can easily be the most risky thing, however it does give high payout in many cases (that is if you actually win). however , the main rules of gamblings are clearly prominent all over the internet, and while there are well over 20 reasonable rules, here are my favourite and most accurate rules about gambling.
- Never Gamble what you can't afford to loose
- Stop when the Fun Stops
- The House allways wins
but how do gambling sites Make Profit?
the gambling host, Commonly reffered to as "The House" mainly gets their income through something called "The house Edge". The House edge is what makes a gambling site/casino profitable for their owners by manipulating the chances/payouts.
imagine a Coinflip where it means hitting your side doubles your bet while not hitting your side looses it, a natural Coin is Defined by Both Statistical and Physical Laws to have a 50 - 50 outcome Chance.however for a Casino this would mean that they could and definatly would be outperformed by Betting Strategies (more on this later).
so how do casinos avoid it? Coinflips are A Huge Profit for Casino Because of the way they implement their edge. most casino either give a favourable chance ot the house or manipulate the payout. if a casino chooses to rig the chances they often offer chances of 49.5 - 50.5. or a 1% favor towards themselves. if a Casino decides to Manipulate the Payout the chances stay the same, however often the multiplier in a win situation is smaller, giving the casino a safety against Betting Strategy bust still giving you consistend and good payout. most of th time the multiplier for a perfect 50 - 50 will be 1.98 x.
both of these would be reffered to as a "1% House edge".
ok so, Considering all this,
Why Gamble?
i mean it just Screams Waste of Money doesnt it, well. yes and no. the chances are certainly unfair and the majority of people will loose out due to greed or impatience, however it definitely isnt a complete waste of money depending on how gambling is used. as the first Rule states, Never gamble what you cant afford to loose means that as soon as you deposit funds into a casino; Consider the Money Gone. yes you might have some short term wins with it, but hopes attached to this money guarantee a bad mood.
Gambling should be used as a source of Entertainment. and i definitely think that it can bring you fun, however, its certainly short term and Expensive fun.
but what about a different kind of betting, what about;
AFK Betting
AFK (Away From Keyboard) or Passive Betting is a different kind of betting as it often involves low risk low payout Strategies which depending on bankroll and Strategies can last for Weeks without a loss. these Strategies are not immune to losses, the chances are still just chances and fate will follow said chances, however these Strategys go against one rule of betting, which is the rule;
- Never Chase Losses.
chasing losses means that once a loosing bet occurs, the player modifies the next bet to nullify said losses. the most famous and common example is the one that definaes a whole Strategy,
for this example the basebet size (your first bet) will be reffered to as 1 unit. now lets bet this 1 unit on a perfect 2x. if we win, we made profit and bet the 1 unit again. if we loose this bet however, being 1 unit in loss we Double our Betsize by 1 unit. now once we bet these 2 units we either win giving us a return of 4 or a profit of 1 unit (-1 from the loss of the first bet and minus the 2 units used to make the bet) or we lose the bet putting us at 3 Units in the mius, this time we double the bet again making it 4 Units in size. if we win we get a return of 8 or a Profit of 1 Unit
This kind of Strategy is reffered to as the "Martingale Strategy" and its the most simple and common strategy out there however under no circumstances should you use this kind of strategy, as it requires unbelieveably high bankroll and even with a 1million Unit Balance it will make you loose within a day.
however this isnt even the surface of Passive Betting. as there are many variables to consider.
however Passive betting on Conflips or any Binary Gambling game is really limiting and not what i will be focussing on from here on. so lets talk
How Dicegames Work.
to move to a more controllable and modifiable kind of game the rest of this post is about a betting game called Dicegame. Dicegame does not like the name suggest involve a simple, or more complicated dice, the most common version of dicegame acts a little different:
the outcome of dicegame is calculated by various factors and is "hashed" multiple times so that in no way the outcome can be predicted/calculated. this is true due to the fact that no computing power available today is effectively able to de hash any hashed values.
you may read more about the system called Provably Fair.
what this means for the average gambler is pretty simple, the outcome will be simplyfied by the server into a number ranging from 0001 to 9999 where the operator of the service cannot modify the outcome.
now this number can be converted into a percentage number. by simply putting a dot in the middle.
meaning the number 0001 can be converted to 00.01%
such as the number 9999 will be converted into 99.99%
my TOP Reccomended Site: 999Dice (More Sites Can be found Here)
How To Effectively Passive Bet.
now for many sites offer a pretty decend but basic auto betting feature. whice works for a short time, however in the long term you will loose out due to the limits of such features. these autobet features are what i will reffer to as static or semi dynamic, as in that they either offer no conditional options or very limited options, conditional option meaning reactive betting option (such as telling the autobet feature to change the bet by a certain percentage in a loss situation etc)
however additionally many sites offer an API or Application Programming interface. an API Allows Developers and third-party Services to acces the Site and Operate certain features.
Using this API The Program Dicebot bei Seuntjie is a lightweight betting bot wich is extremely customizable.
Seuntjies DiceBot is a program to automate betting strategies, like martingale, for crypto currency dice sites, or in other words, a betting bot. DiceBot supports a multitude of sites and currencies [...]
[...] This is the most advanced betting bot available, including awesome features such as flexible betting systems, profit and bets charting, searchable bet history, auto roll verification, automatic withdrawal/invest and a programmer mode to code your own strategy
this programm suddenly turns the casual passive betting through your browser into a powerful technique of how to manage bets. not only does it have an easy to understand powerful interface for people wanting to try out certain strategies,
it features the so called "Programmer Tab" which allowes you to use scripts.
Using Scripts to Bet Efficiently
where static betting has its limits scripted betting only begins, what scripts offer is the most dynamic and controlled way of betting possible. scripting allows for dynamic responses to any kind of event, it also allows for dynamic change of the bet percentage, bet ammount, and alot more.
what this means is that you can use difficult functions and math works to enhance your betting to the fullest point.
in the following example i will show the script i used to turn 1500 Doge (7.85 USD at time of writing) into 7000 + Doge (36.91 USD). and this script works with any cryptocurrency and any dicebot supported site. however there are a few reasons why i chose dogecoin to bet.
How to multiply your bankroll!
How to multiply your bankroll!
ok i am realizing how fake these titles sound but try not to worry about those.
the first thing to say is i used a special script which adjusts your bet to your balance and you can determine how many losses you want to be safe for. aditionally its important to note that i ran this for about a week and a half to get this result
yes. that means running your pc 24/7 with the script open. however given that i made 36$ which is more than enough for power cost. however i am looking into letting this run on a server to do more intense and long term testing. as this was only one run.
what i mean by one run is that the script was on loop until it crashed. now given that the script would usually take all your balance as your bankroll (except for whatever you withdraw intime) you would end up with mostly 0 regardless. however to avoid this i limited my script to 10k doge as its spendable balance. this way i ended up with 7000+ dogecoin when the script crashed. (and this is given that it did crash loosing me 10k dogecoin)
the first thing to say is i used a special script which adjusts your bet to your balance and you can determine how many losses you want to be safe for. aditionally its important to note that i ran this for about a week and a half to get this result
yes. that means running your pc 24/7 with the script open. however given that i made 36$ which is more than enough for power cost. however i am looking into letting this run on a server to do more intense and long term testing. as this was only one run.
what i mean by one run is that the script was on loop until it crashed. now given that the script would usually take all your balance as your bankroll (except for whatever you withdraw intime) you would end up with mostly 0 regardless. however to avoid this i limited my script to 10k doge as its spendable balance. this way i ended up with 7000+ dogecoin when the script crashed. (and this is given that it did crash loosing me 10k dogecoin)
so what this means is that this script made about 15.5k dogecoin or 81 USD if i would have stopped it right there. however since i wanna see how long i can keep this going i will get back to 10k and see if i can make about 10k + profit before it crashes. this could become a very nice way of betting.
the short term (short term meaning the next 2 months) is to get to about 30k profit. and in the meantime find a suitable server costing about 10$ per month or less and run it on there. its allways important to have a bit of leeway in balance incase the script fails 2 times in a row (in a short time like less than a day) so you can build the balance up again. and profit of off the longer runs again.
its important to note that with these scripts you will not make much profit on the first run, i also advise to use a spendable balance closest to your starter balance
starter Balance to Spendable balance:
50 > use a spendable balance of 250
250> use a spendable balance of 1250
1250> use a spendable balance of 6500
6500 and over: use a spendable balance of 10000
its important to note to never change your spendable balance mid run. this masively increases the chance of total loss.
the way to do this is the following:
1. determine in which range your starter balance is in and set your goal accordingly.
2. use the first script which uses your balance as spendable balance to maximize income.
3. once you hit the determined goal for the run (usually 5x of your basebet) switch to the second script and edit the "Spendable" Variable to your achieved goal
4. let it run until it crashes. most of the time making a profit of atleast 1.5x your starting balance.
so after it crashes you do one of 2 things based on your profit.
the short term (short term meaning the next 2 months) is to get to about 30k profit. and in the meantime find a suitable server costing about 10$ per month or less and run it on there. its allways important to have a bit of leeway in balance incase the script fails 2 times in a row (in a short time like less than a day) so you can build the balance up again. and profit of off the longer runs again.
its important to note that with these scripts you will not make much profit on the first run, i also advise to use a spendable balance closest to your starter balance
starter Balance to Spendable balance:
50 > use a spendable balance of 250
250> use a spendable balance of 1250
1250> use a spendable balance of 6500
6500 and over: use a spendable balance of 10000
its important to note to never change your spendable balance mid run. this masively increases the chance of total loss.
the way to do this is the following:
1. determine in which range your starter balance is in and set your goal accordingly.
2. use the first script which uses your balance as spendable balance to maximize income.
3. once you hit the determined goal for the run (usually 5x of your basebet) switch to the second script and edit the "Spendable" Variable to your achieved goal
4. let it run until it crashes. most of the time making a profit of atleast 1.5x your starting balance.
so after it crashes you do one of 2 things based on your profit.
- if have less than half of your goal balance repeat steps 2 to 4 with your last starting balance, saving any profit you made last run until you have atleast 3/4ths of your goal balance at which point you qualify for the second option:
- if you have atleast 3/4ths of your goal balance you use the first script with all your coins until you hit your goal and you start using the second script again. now you should earn profit while still having long ways until the script crashes. giving you atleast 1.5x your goal balance. from here on you use the goal balance as your new starter balance and repeat from step 1.
Using the example with a starter balance of 250, we first start by running script one until it gets to about 1250. at which we use script 2 setting the "Spendable" variable to 1250. now we need to keep it running until it crashes, this can take a week or an hour, however you can typically see about 2x your initial starting balance (which in this case would be 500). since this is not enough to aim for higher profit we save 250 by withdrawing/converting it into another currency and use the other 250 to repeat the steps. once we have 3/4 of our goal or 930 we can start going for higher profit. we start with script one using our full balance until we get up to 1250. after this we switch to script 2 and let it run until it crashes. using this method we should get about 1.8x of our goal or 2250. this time we set 1000 away to safety incase we fail and repeat from the top of the example. only to use 1250 as our starter balance. continueing this over months we get more and more overall balance until we finally reach the point of 10k. this is where i personally put the max, however you may set your own limit at any other point.
there will be runs where you have a loss, however bound by statistical law you are bound to make overall profit. but building up to that point is risky so its allways a thing to consider.
Download Link for the scripts Here
How do i get the kind of money to start this?
here comes the good thing - you can do this with however much money you want risk, however note that if you use cent amounts the payout wont be worth the electricity spent. however its really easy to get 2 or 3$ to spend in an hour two. you may checkout EarnCrypto or the post below to see how to earn cryptocurrency fast with little work!
until next time - keep earning!
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