Some Common Types of Betting Strategies in Bitcoin

A - E strategy in betting

A. Martingale

A common bitcoin gambling strategy is the Martingale betting system. It’s also the betting progression that seems to result in the most incidents of losing entire bankrolls. The concept is simple enough – you choose a bet that will return your bet doubled if you win, and you start to bet. If you win, you go back to your original wager. If you lose, you double your bet, so that when you eventually win you’ll have made your original wager in profit.

B. Paroli

Another common betting progression is the Paroli or Parolli system, which rather than decreasing the wager on a win like the Martingale method, increases the wager after a win. This method may be used by some Bitcoin dice players on sites such as Primedice. It involves doubling your wager after a win, and resetting it back to your original wager after a loss, and after 3 consecutive wins, going back to your original wager. The Paroli method can work well for gamblers who prefer low risk, and consistent small wins.

C. Labouchère

The Labouchère system is another popular betting system, and probably one of the more interesting ones. It’s a bit more complex than martingale and Fibonacci. Labouchere is also commonly called the cancelation system or split martingale.

The user of such a strategy decides before playing how much money they want to win, and writes down a list of positive numbers that sum to the predetermined amount. With each bet, the player stakes an amount equal to the sum of the first and last numbers on the list. If only one number remains, that number is the amount of the stake. If bet is successful, the two amounts are removed from the list. If the bet is unsuccessful, the amount lost is appended to the end of the list. This process continues until either the list is completely crossed out, at which point the desired amount of money has been won, or until the player runs out of money to wager.

D. d’Alembert

D’Alembert is negative progression betting system, similar to martingale and Labouchere. This means that when a bet is lost, the next bet will be increased, and when a bet is won, the next bet will be decreased.

The system, also called montant et demontant, is often called a pyramid system. It is based on a mathematical equilibrium theory devised by a French mathematician of the same name. Like the martingale, this system is mainly applied to the even-money outside bets, and is favored by players who want to keep the amount of their bets and losses to a minimum. The betting progression is very simple: After each loss, you add one unit to the next bet, and after each win, one unit is deducted from the next bet.

E. Fibonacci

The Fibonacci betting system is another negative progression betting system. It is simple and easy to follow. In its most basic form, you follow the Fibonacci sequence on a losing streak, and reset to betting 1 on a win. The Fibonacci sequence is Xn+1 = (Xn + Xn-1) where Xn:-1 =0 and Xn:0 =1. Thus first few items of the sequence is: 1,1,2,3,5,8,13,21,34,55,89…