RE: Testing MagicDice, here are my results so far...
It's been a while since I posted this and I realize that the video and post are missing an important disclaimer. :)
Always keep in mind that with any type of gambling, the house always has an edge. Meaning, the odds are slightly in their favor. If you keep gambling, the chances increase that the house will win.
Not only for that reason but in general... never gamble with money that you need to pay for food, rent, mortgage or any other important bills.
Set for yourself an upper limit how much you are willing to lose, and stick to that limit! With the double on losing strategy, keep in mind that at the time you bet a certain amount, on loss you will have lost almost twice as much. So, if you limit is i.e. $20 worth of Steem, your highest bet should be $10 worth of Steem.
If you lose your maximum... I recommend stopping until you earned back that much or more selling products or providing services. :)
Keep in mind that you can become addicted to gambling! If you can't stop when you reached your limit, it's a sign that you might need help to overcome that addiction!
Now, all that in mind... I wish you the best of luck and the strength of mind to walk away when you need to. :)