Bitcoin gambling - my experiences

in #bitcoin8 years ago

This is going to be an ultra-short post.

When I first discovered bitcoin , I immediately wondered how to get more of it :) I have invested about $5000 into bitcoin mining service called genesis mining - more about that in my later post. For now all you need to know is that STAY AWAY from that.

Then, being a gambler, I immediately began playing online bitcoin casinos. I tried dozens ! Long story short: 90% of them are a scam and will NOT pay you if you win big money.

The only casino that EVER paid me ( 55 bitcoins I won on roulette ) was bitcasino.io . I am not affiliated with them in anyway - I am just saying - they DO pay and I trust them.

BUT - here is the experience that I have learned : The games at bitcasino.io are not fair - they are somewhat random , HOWEVER the difficulty raises with your BET amount. For example, if you play video slots for 20 cents a spin, you will see many winnings - let's say 1 out of 5 spins you will win. If you play the same game for $10 a spin, the difficulty increases to something more like 1 out of 20 spins.

This means that if you sit down and throw $100 at this and loose it all, your immediate reaction to this ( being a gambler ) is to throw another $200 and play at double coin value to win your lost $100 back faster. THIS DOES NOT WORK . I 've lost 100 bitcoins being stupid like this !

Moral of the story: If you must play, set a daily limit and never go over ! These casino remember your IP, they adjust difficulty based on how much you have won already . What i have learned is that they only remember you for about 24 hours. So if you win - stay away for 1 to 2 days before going back.

Hope this helps . Do NOT gamble , but if you must - play small coins - your chances of winning will increase.

Also - if you decide to join the bitcasino, you may use my referral link : https://bitcasino.io?ref=cphtrack . But really - I don't know ANYONE who would ever get rich playing casino. Everyone always looses except the damn casino owners.

Next post - I will write my experience about Genesis-Mining.

Sort:  

Dude, how rich are you?

Ha :) I make a normal living. But I have never borrowed any money from anyone, no credit cards, no bank loans... Makes your life easier.

What, losing 100 BTC is no joke, & not for normal living stuff!
You must be a tycoon's son/daughter!

Hehe :) no, I built my business from zero. I run adult websites. No Pappa or momma help.

Congratulations @voodoo! You have received a personal award!

Happy Birthday - 1 Year on Steemit Happy Birthday - 1 Year on Steemit
Click on the badge to view your own Board of Honor on SteemitBoard.

For more information about this award, click here

By upvoting this notification, you can help all Steemit users. Learn how here!