Bitcoin gambling - my experiences

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.