/biz/ - Business & Finance

[Anonymous No.22853907]

who here gamble-trading?
>be me, have 4.3 ETH
>staking on uniswap
>going pretty slow
>unstake
>transfer ETH to Earnbet
>use martingale system
>withdraw 15ETH
>go back in ETH/DAI pool
>stake to get UNI
>making about $100/week

might unstake later and go back to earnbet and get 40ETH and repeat.

[Anonymous No.22853929]

martingale system is unbeatable, and its provably fair too. so no fuckery

[Anonymous No.22854057]

>>22853907
whats the martingale system?

[Anonymous No.22854179]

Earnbet (previously Eosbet) BET token whale here, if you are going to use earnbet use my link (jannies) get $50 worth of free cones

play dot earnbet dot io

[Anonymous No.22854221]

>>22854057
>>22853929
it's a meme strategy that doesn't actually work. op got lucky.

[Anonymous No.22854256]

>>22854221
it does work you've just got to do it for a limited time and plan your bank roll and bet size properly

[Anonymous No.22854261]

>>22853907
I tried it once and got rekt out of 3 eth lol. It works well just until it doesnt.

[Anonymous No.22854274]

>>22854256
this is why statistics should be mandatory in high schools.

[Anonymous No.22854305]

>>22854261
elagnitram is the reverse martingale system. if you WIN you double your bet. its the patrician strategy overall but you need balls of steel to pull it off

[Anonymous No.22854319]

>>22854261
what platform were you using?

[Anonymous No.22854435]

>>22854305
do me a favor, learn to program, then write a python script that simulates a coinflip gambling game. we'll say the house edge is 1%, so if you lose a flip, you're down a unit, if you win, you're up .99 units. now have it simulate 1000 games using martingale and report the results to you. manipulate the code to tell you how often it was able to double your money without busting, it will be the same as if you just bet the same amount of units each time. casinos are "provably fair" because they don't have to cheat. the numbers will always normalize in their favor as long as they have the edge.

[Anonymous No.22854470]

>>22854435
ok, now I use your simulator that you created and i get 6 losses in a row, now i immediately carry out the same strategy for real on earnbet, i already used my bad luck runs on your simulator so the real one will give me the profit.

[Anonymous No.22854607]

>>22854435
>do me a favour, learn to program

[Anonymous No.22854686]

is earnbet on the eth blockchain, or is it offchain?

i play on trx wink.

does 10k of eth/dai in LP really earn you about 1% a week/~50% APY(at current uni prices)

[Anonymous No.22854688]

>>22854305
Gonna look it up, thanks
>>22854319
Dice2win

[Anonymous No.22854724]

Playing in casino's is always just for fun. They make sure they always win long term. So best you can do is try out your luck short term. EarnBet is a nice decentralized crypto casino that's probably fair. I mean centralized casinos don't have to scam, but there are enough that still do just because nobody can verify that. Earnbet just need to add more games.

[Anonymous No.22854741]

>>22854686
It's 100% on chain. The WAX chain.

[Anonymous No.22854749]

>>22854305
Lmao m8
>This is the elagnitraM, or Reverse Martingale. It is misleading because it implies that you spin the wheel first, then place your bets, but you don't! With this method, if you win a spin, you double your bet. If you lose, however, you return to your original amount. This suggests that you go on "streaks", whereby you maximise profit in a winning streak, and minimise losses where you go on a run of losing bets. As you will see when you run the program, it is the worst method ever invented. Don't ever use this method in a real casino.
The programs is looped and performs any amount of spins in each loop for you to choose. You can change starting funds, bet size, and also which graphs are displayed.

Cite As
Gary Greet (2020). Reverse Martingale Roulette Simulator (https://www.mathworks.com/matlabcentral/fileexchange/47542-reverse-martingale-roulette-simulator)), MATLAB Central File Exchange. Retrieved September 27, 2020.

[Anonymous No.22854774]

>>22854686
it really depends what time you started Liquidity providing because impermanent loss on the pair can really take all the profit away.

[Anonymous No.22854846]

>>22854274
>>22854256
Based stats posters

[Anonymous No.22855106]

>>22854749
minimum bet is 0.00005 ETH so you would have to get 20 losses in a row to fail at the system. astronomically low chances of losing

[Anonymous No.22855299]

What do you think about this plan? Sell my 800 UNI, take the ETH and double it, buy back UNI

[Anonymous No.22855386]

>>22855299
I would say go for it, but what do I know I'm just a random guy on the internet.

[Anonymous No.22855427]

>>22854179
>>22853907
>>22854686
>>22854741
excelent astroturf

[Anonymous No.22855633]

>excellent astroturf

[Anonymous No.22855746]

>>22855427
Does seem like a low effort shill, true.


Regardless, got 2m tokens staked, making over $1k a month in dividends. Feels good man.

[Anonymous No.22855937]

>>22854221
It does work. I made £60k from it 2 years ago.

[Anonymous No.22856096]

>>22855106

I tried this with Roobet which is also provably fair and eventually got over 20 losses in a row after letting it run automated for about 12 hours on martingale which liquidated me. There was one point though where I had almost tripled my money something like 8 hours in but I only used $30 and the withdraw mechanics were a bit strict unless it was under $2000 if I remember correctly. They also took fees I believe to withdraw. Using a large amount is too risky. Idk if you can get away with it without greed somehow. If you get lucky enough to triple your money and actually take profits and get your initial out but overall you will eventually lose

[Anonymous No.22856106]

Do burgers really not understand simple statistics?

>>22855937
Amazing, why don't big investors just use casinos if it's that easy money?

[Anonymous No.22856115]

>>22855746

Jesus how much does 2Million tokens cost? I looked into the tokenomics awhile back on Earnbet. Getting commission from other people gambling is the real move.

[Anonymous No.22856180]

>>22856115
2000000 BET is worth $100k but its better roi than being a landlord.

[Anonymous No.22856216]

>>22856106
Because casinos have the edge you retard

[Anonymous No.22856230]

>>22856216
Spoken like a true beta male. if you win its free money.

[Anonymous No.22856244]

>>22856216
peak brainet

[Anonymous No.22856537]

might try this

[Anonymous No.22856851]

>>22854470
LOL

[Anonymous No.22857069]

>>22856115
As of writing $100k, fluctuates a lot due to low volume so not too concerned about the price (especially because of the staking model). My buy in average is ~$0.02/each, so only 40k, got lucky as fuck.

[Anonymous No.22857104]

>what is 'expected value'?

[Anonymous No.22857169]

>>22854846
>business tier statistics
im fucking losing it lmao

[Anonymous No.22857187]

>>22854846
>Based stats posters
>posts Joel Best book
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHAHAHAHA

[Anonymous No.22857300]

>>22853929
Yes, unbeatable with unlimited funds and no max bet cap.
But you're got to take into account
1. House edge
2. Max bet size

You will crash and burn doing martingale, do it from one cent and after 12 losses in a row, you're risking what, $300 for $0.01 win.

[Anonymous No.22857342]

>>22857300
Indeed. In addition, martingale is literally the most faggy system out there.
You are basically saying I want win really small most sessions, with the change to lose everything. Literally why even gamble if that's the result? Mostly people want the exact opposite- small losses with the chance at a big win.

[Anonymous No.22857368]

>>22854470
Holy based

[Anonymous No.22857489]

I'm not well versed in general statistics. I'm assuming that if I made multiple accounts all using the same Martingale system my odds wouldn't change at all? Each account would be subject to the stats independently? What's interesting though is that if I understand correctly casino's don't let people do it right? What would happen if every single person in a casino were ALL doing Martingale and stopped after 10% profit or something. The casino could suffer catastrophic losses in the short term at least I'd imagine. It seems like the house could lose in some instances overall if thousands of people were doing it

[Anonymous No.22857511]

>>22857069
That is an incredible return for 40K then. That is a lot to drop on token not well known. What percentage of your networth was that? The dividend goes up as more people gamble basically its been awhile since I checked the tokenomics

[Anonymous No.22857548]

>>22857489
see >>22857104

the more people doing it, the more likely it is the expected outcome occurs on average. The expected outcome being the casino wins, of course.

[Anonymous No.22857585]

>>22857489

Actual Casino Manager here, short term IF everyone pulled out at 10% profit it would be a loss but we sit comfy knowing the numbers are on our side. Once people win, unless they have iron will, they will always come back to gamble again.

Never EVER gamble in a casino to make money, only do it for fun.

[Anonymous No.22857714]

>>22857511
Iirc it was 10% of my nw at the time.
I've been in close contact with the devs and imo they're on top of their game (although sometimes their decisions seem strange, but always has worked out great) , so with the volume they were seeing it was a no brainer to buy a big bag.

[Anonymous No.22857818]

>>22857714

I was trying to figure out how much money has been bet in the network on average but can't find any stats on it. Online gambling is like a 60 billion dollar industry I think I read awhile back I can't remember if that was world wide or just specific countries. Either way tons of money that could still enter their network. The token has been fluctuating a lot recently. I'd buy 1,000,000 and stake for 5 years if I I could get it for less than $15,000

[Anonymous No.22857882]

>>22857818
Hard to say exacts without analysing the whole chain data, dappradar keeps track of wax volume only, so not a good indicator.
Maybe that's something they could make a stats page for.

I'd double down if it went to $0.015

[Anonymous No.22857905]

>>22854057
It's essentially "double or nothing" strategy, if your bankroll is sufficiently large and your starting bet is sufficiently small , you can make the likelihood of loosing absurdly small, in a strange sense there really is no limit on how small your failure chance can be.

[Anonymous No.22858380]

I throw like 100 bucks on bustabit frequently. Made a decent amount of money doing so but, I dont reccomend it.

[Anonymous No.22859195]

>>22858380
Just know that bustabit is not provably fair. Their games do not run on the blockchain. Who know's what they do on their centralized servers where the game runs.

[Anonymous No.22859360]

>>22853907
nobody ever gambles with crypto. that's why SAFEX is a solid move methinks