Betting Reboot
So after 6 months of betting and giveaways (daily bets of between £15 and £25) the bank inevitably was reduced to just £2.44.
Lessons Learned
Making money from multiple bets and lotteries is very hard indeed, the odds are very much against you, especially lotteries which are heavily stacked against you. The lure of these bets is the bigger payouts. These bets are not done by professional bettors and do come under the mug punt category.
My view is that you can do these bets but it must be done with a percentage of your bank that you are effectively writing off. They make great bets to do for match bettors to prevent the chance of being gubbed (account restriction or closure). The Lucky 15's do have the advantage of not draining the bank quite as fast due to the likelihood you do get some returns.
Bank Reload
So with the above in mind we will be reloading the bank with £2,000, however there will be some changes to the bets and payouts as follows.
There are lots of new projects and contests that need SBD donations, so instead of giving away SBD to voters this will now be used for funding those efforts, this in my view is better for the platform since it develops other accounts and gives other opportunities to win prizes.
We will be introducing other bets into the process from time to time that will be used to increase the bank, these bets will not result in giveaways, all profits from these will be ploughed back into the bank to prolong the process as long as we can.
We will try to take advantage of as many offers as possible to boost the bank, there are lots of other bookies that we are not involved with which do have offers from time to time, we will be taking those offers up when they arise.
The goal remains the same, to giveaway as much Steem as possible in giveaways through betting actions.
The fullcoverbets indeed do slow down the draining of the bank but if you do hit a bad streak like you did, it will slowly bleed to death!
At least one lucky 15 is needed to keep the head above the water!
Regardless of the giveaways or not! I will keep upvoting these posts!
Cheers,
Peter
Thanks for the support, much appreciated!
Your welcome! That was the least I could do! But the SBDs I did send you were meant to be a donation! Not a swap :)
Cheers,
Peter
Thanks what you are doing for Steemit Stimp1024! It really makes this a better place and does make a difference. It's difficult to be profitable at betting, let alone be profibale while giving part of the earnings away.
Good Luck !
Thanks for the kind words that really means a lot!
Good morning @stimp1024, it is unfortunate that they have had this chain of losses. But keep going, you will soon take the winning route again, horses are like that, sometimes there are bad spells; but you will not have a good run.
A question? Have not you thought about supporting users who have small contests? so they can also help you maintain your bank.
I like the new direction you are taking here.
IMHO, lotteries are so much stacked against you that they in practice equal to throwing money away.
Offers & Specials can be a great way to boost the bank. Just carefully read the small print 😃
That is good advice, always read the small print. I will carry on with the lotteries but may have to scale those back, realistically like you say there is no chance of winning.
@stimp1024 you really are a great help to all of us who are in Steemit, because they follow you and tie the bets you make; You always give us a little of your earnings. Do not worry that you will always get ahead with your bets. I will follow you. Greetings.
Thank you so VERY much for the Steem! Thank you so VERY much for the update and all that you do for the GREAT Steemit Community! You are GREATLY appreciated! I like the changes. And your #4 goal of giving as much Steem as possible away is so VERY kind! Our luck will change for the better my Friend! All the VERY best! Your Friend @extraterrestrial :)
Well done @stimp1024 and thank you. Your giveaways are great, I always look out for them when I log in to Steemit. Thanks again