An analogy in gambling. - page 4. | Bitcointalksearch.org

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Quote from: dansus021 on October 10, 2024, 02:46:03 AM

First of all I never bet big beyond a thousand USD but I think whether you have big bet or lower bet that doesn't really mater the only different is amount and if you guess is right then you win the game and you get the money. I saw bunch of people on kick.com that usually bet 1-10K on a single bet and that is a lot of money.

Yes, the amount wagered makes a difference for every gambling player
As you said that seeing a lot of people risking $1k-$10k it's a huge amount, and they're high-end players and indeed they basically have a lot of money.

We as small players who bet only for fun, will not spend that much money just for betting in the casino.

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Quote from: Orpichukwu on October 09, 2024, 05:14:57 PM

Quote from: Blowon on October 08, 2024, 03:45:39 PM

I think it's just poison in our own minds, just propaganda and everything has its own risks, both high and low, we are just looking for luck and if possible also looking for profit, and everyone also has different choices.

It could be poison in the person's mind; it could also be reality in some cases, as big winnings most of the time don't always happen the way we expect them, and when you try to place bets on small odd games that will give small winnings, they always end up positive, but not in all cases, which makes one wonder if the casino does play with our intelligence or if it's just us wondering.

Gambling in reality doesn't need much seriousness or much attention it just a thing of doing when you have free time and also while watching match or games you need not to be that mean with the game because the results are not certain, so what you do is to spare some cash that you can use to gamble, not necessarily mean you must bet with a high odds games but just within the odds you think is not that big to easily lose them when you gambling. That is why it always looks like small odds happens to have easy winning probability than big odds.

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Quote from: mirakal on October 10, 2024, 08:43:46 AM

Quote from: Sandra_hakeem on June 16, 2024, 03:42:49 PM

Do you believe this analogy as to sport betting? that sometimes, casino bets with higher stakes are likely to not cut it? Considering the amount that a certain multiplier could reach?

I've known a certain group of gamblers that would sing their praises to games with lower potential winnings. At some point, I'm stuck in-between the fact that they're either lucky with games of little potential winnings and it happens on almost every winning tickets? Again, if you're also in doubt to their belief, is their winning tickets on the low outcome always a coincidence? Also, if the casinos are always cautious as to not incuring too much to pay, how about tickets with $800k winnings?

I don’t believe we have no chance of hitting it big, but let’s be real: winning isn’t that easy. Most winners are cashing in on smaller prizes rather than going for the jackpot, which takes a serious stroke of luck. So, as a smart gambler, why would I bet on high odds with such low chances of winning? It makes way more sense to go for smaller bets where we have a better shot and can avoid losing our shirts. Even winning $10 from a single game feels better than winning $100 from a single game but still losing $500. We should always lean towards what benefits us, especially since gambling is way more fun when we’re not stressing over our bankroll!

Good point, though there are gamblers who are really doing things wisely just like you described the benefits against the risk, but not all have that same mentality as there are more gamblers who are seeking for the jackpot and most of the time they are those who fall into addiction, as they unable to control their emotions and being aggressive to recover what they've already lost.

You need to be precise and always focus, as dealing with gambling is a game of opportunities and luck, playing your cards well and managing your bankroll will help a lot to enjoy and earn some benefits.

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Quote from: Dr.Bitcoin_Strange on October 10, 2024, 02:31:46 PM

Quote from: Davidvictorson on October 09, 2024, 07:29:19 AM

Quote

The casinos usually offer those big odds when they see that there is a very low tendency for the result to be successful; therefore, the big odd is to tempt the gambler into staking on the high odd because of the huge profit. Those high odds can be tempting but very disappointing, although not all the time.

I think those big odds are how the bookies make their money. I see it as a trap set those those sports bettors who are less experienced or greedy or both.

That is exactly what it is, mate. The casino increases the odd of a game that they know has a very low chance of being successful and it's left for a newbie gambler to fall into such temptation because they want to make huge profit in a game that the casino are even scared of its possibility. I know that in betting, there's no odds that is too assuring, although people may believe that small odds are quite more successful, it can, but it can also disappoint. It's something we should register in our minds.

People or bettor would really be making out those kind of realizations on the time or moment that they would really be able to experience for themselves on losing despite of having those low odds.
We do know that there's no such thing about assurance when it comes to winning up a bet even if you do stick yourself into those favorites most of the time on which odds of losing will really be there.
This is why its really that always best that you should really be that not expecting or anticipating too much so that it wont really be bringing out that kind of disappointment on the time or moment
that it would really be ending up on a lost bet. People mostly been that too positive about certain results or outcomes without even thinking that they are really indeed betting their money to earn
money and this is where desperation do kicks in.

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Quote from: Davidvictorson on October 09, 2024, 07:29:19 AM

Quote

The casinos usually offer those big odds when they see that there is a very low tendency for the result to be successful; therefore, the big odd is to tempt the gambler into staking on the high odd because of the huge profit. Those high odds can be tempting but very disappointing, although not all the time.

I think those big odds are how the bookies make their money. I see it as a trap set those those sports bettors who are less experienced or greedy or both.

That is exactly what it is, mate. The casino increases the odd of a game that they know has a very low chance of being successful and it's left for a newbie gambler to fall into such temptation because they want to make huge profit in a game that the casino are even scared of its possibility. I know that in betting, there's no odds that is too assuring, although people may believe that small odds are quite more successful, it can, but it can also disappoint. It's something we should register in our minds.

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Quote from: Sandra_hakeem on June 16, 2024, 03:42:49 PM

Do you believe this analogy as to sport betting? that sometimes, casino bets with higher stakes are likely to not cut it? Considering the amount that a certain multiplier could reach?

I've known a certain group of gamblers that would sing their praises to games with lower potential winnings. At some point, I'm stuck in-between the fact that they're either lucky with games of little potential winnings and it happens on almost every winning tickets? Again, if you're also in doubt to their belief, is their winning tickets on the low outcome always a coincidence? Also, if the casinos are always cautious as to not incuring too much to pay, how about tickets with $800k winnings?

I don’t believe we have no chance of hitting it big, but let’s be real: winning isn’t that easy. Most winners are cashing in on smaller prizes rather than going for the jackpot, which takes a serious stroke of luck. So, as a smart gambler, why would I bet on high odds with such low chances of winning? It makes way more sense to go for smaller bets where we have a better shot and can avoid losing our shirts. Even winning $10 from a single game feels better than winning $100 from a single game but still losing $500. We should always lean towards what benefits us, especially since gambling is way more fun when we’re not stressing over our bankroll!

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Part of AOBT - English Translator to Indonesia

First of all I never bet big beyond a thousand USD but I think whether you have big bet or lower bet that doesn't really mater the only different is amount and if you guess is right then you win the game and you get the money. I saw bunch of people on kick.com that usually bet 1-10K on a single bet and that is a lot of money.

Well about the odds casino would think about it and the price might the same but usually the odd keep changing.

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Quote from: madnessteat on October 10, 2024, 12:30:25 AM

Quote from: Weawant on October 09, 2024, 05:23:29 PM

Quote from: Sandra_hakeem on June 16, 2024, 03:42:49 PM

Do you believe this analogy as to sport betting? that sometimes, casino bets with higher stakes are likely to not cut it? Considering the amount that a certain multiplier could reach?

I've known a certain group of gamblers that would sing their praises to games with lower potential winnings. At some point, I'm stuck in-between the fact that they're either lucky with games of little potential winnings and it happens on almost every winning tickets? Again, if you're also in doubt to their belief, is their winning tickets on the low outcome always a coincidence? Also, if the casinos are always cautious as to not incuring too much to pay, how about tickets with $800k winnings?

There have been and may not be any game with which you can be too sure about even if it turns out too obvious that the game is goin to have a particular outcome at a certain time, its still very possible the game will turn around as that's what we see commonly with gambling but most persons have refuse to accept this fact and decide to still believe they are too good enough to have games they tag sure by virtue of the odds the game comes with not knowing even the casino isn't very sure too.

Absolutely agree with you. We all from time to time see matches in which the clear favorite loses to the underdog for some unknown reason. So yes, even the most seemingly obvious bet may not play out. That's why I think it's important not to bet all the money on one game, but to spread it over several obvious wins, even if they are small. This approach allows you to minimize losses, although it is also not a strategy that always works.

And this is the right approach, which is good not only in betting or gambling, but is good absolutely everywhere. Of course, it is always very unusual to see how underdogs win.
After all, at the moment when the match has not yet started, we see the odds and we see that before that one team was always stronger than the other. And because of all this, the decision seems obvious. But then it turns out that the favorites are in bad shape, or the underdogs have become stronger. Therefore, we cannot allow the psychological influence of the bet sizes on our opinion.

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Quote from: Weawant on October 09, 2024, 05:23:29 PM

There have been and may not be any game with which you can be too sure about even if it turns out too obvious that the game is goin to have a particular outcome at a certain time, its still very possible the game will turn around as that's what we see commonly with gambling but most persons have refuse to accept this fact and decide to still believe they are too good enough to have games they tag sure by virtue of the odds the game comes with not knowing even the casino isn't very sure too.

Unexpected turnaround in games have been a regular occurrence to me because on a number of time, I have seen and witnessed such incidents, some time it end up favouring me at the end, but most time I will have taken action that make it sure too late for the turn in game to favor my winning side, take for example in the Fulham vs Manchester City game over the last weekend, I bet for straight winning for Manchester City, but along the line when the first goal was scored by Fulham, I thought that was the end of the road for man city and at that time cased out the little amount remaining for me to walk away with and to my greatest supprise a few minutes later man city equalised and I was so disappointed that I have already taken that action to cash out the game at first.

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Quote from: Weawant on October 09, 2024, 05:23:29 PM

Quote from: Sandra_hakeem on June 16, 2024, 03:42:49 PM

Do you believe this analogy as to sport betting? that sometimes, casino bets with higher stakes are likely to not cut it? Considering the amount that a certain multiplier could reach?

I've known a certain group of gamblers that would sing their praises to games with lower potential winnings. At some point, I'm stuck in-between the fact that they're either lucky with games of little potential winnings and it happens on almost every winning tickets? Again, if you're also in doubt to their belief, is their winning tickets on the low outcome always a coincidence? Also, if the casinos are always cautious as to not incuring too much to pay, how about tickets with $800k winnings?

There have been and may not be any game with which you can be too sure about even if it turns out too obvious that the game is goin to have a particular outcome at a certain time, its still very possible the game will turn around as that's what we see commonly with gambling but most persons have refuse to accept this fact and decide to still believe they are too good enough to have games they tag sure by virtue of the odds the game comes with not knowing even the casino isn't very sure too.

Absolutely agree with you. We all from time to time see matches in which the clear favorite loses to the underdog for some unknown reason. So yes, even the most seemingly obvious bet may not play out. That's why I think it's important not to bet all the money on one game, but to spread it over several obvious wins, even if they are small. This approach allows you to minimize losses, although it is also not a strategy that always works.

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Quote from: Fivestar4everMVP on October 09, 2024, 07:14:43 PM

If I understand you correctly, then I did say that the mystery there is very simple. The thing actually Is that, games with smaller odds are easier to win, but then, the profit is not always tangible. That is, for such games, the gambler have a higher chances of winning, but to make a profit that can be considered to be good enough, the gambler have to bet big money on that game.

While on the other hand, games with big odds pay huge amount in profit, but the chances of winning such games is very low, this is the type of games where some lucky gamblers can literally turn $5 into $100,000 or much more, winning such a bet is not completely reliant on the gamblers level of sports knowledge, this has almost everything to do with how lucky the gambler is.

Well, we also have to understand this, it is impossible for the bookie to give the same opportunity while the two teams that will compete have different strengths, of course they will apply a small number of diggers to the team that is more trusted to win, on the contrary they will give a large digger to the team that has a low chance of winning. They also calculate the odds and keep in mind they are also doing business here.
But what is interesting is that when we bet on a team that has a greater chance, it does not guarantee that we can win the bet, many lose big bets because they bet with a large nominal on a team that has a high chance of winning. This is something that we often encounter in bets like this.

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Quote from: Sandra_hakeem on June 16, 2024, 03:42:49 PM

Do you believe this analogy as to sport betting? that sometimes, casino bets with higher stakes are likely to not cut it? Considering the amount that a certain multiplier could reach?

I've known a certain group of gamblers that would sing their praises to games with lower potential winnings. At some point, I'm stuck in-between the fact that they're either lucky with games of little potential winnings and it happens on almost every winning tickets? Again, if you're also in doubt to their belief, is their winning tickets on the low outcome always a coincidence? Also, if the casinos are always cautious as to not incuring too much to pay, how about tickets with $800k winnings?

I am trying to understand your post, which here is a low chance of winning not low odds because both are different, and if the group wins more often at low winning chance then it can be said that it is a coincidence or there could be hidden losses that will make people think that they are great but actually not.
High chance of winning will certainly make bettors win more often but sometimes the profit is not as good as winning at low chance of winning.

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Quote from: Orpichukwu on October 09, 2024, 05:14:57 PM

Quote from: Blowon on October 08, 2024, 03:45:39 PM

I think it's just poison in our own minds, just propaganda and everything has its own risks, both high and low, we are just looking for luck and if possible also looking for profit, and everyone also has different choices.

It could be poison in the person's mind; it could also be reality in some cases, as big winnings most of the time don't always happen the way we expect them, and when you try to place bets on small odd games that will give small winnings, they always end up positive, but not in all cases, which makes one wonder if the casino does play with our intelligence or if it's just us wondering.

If I understand you correctly, then I did say that the mystery there is very simple. The thing actually Is that, games with smaller odds are easier to win, but then, the profit is not always tangible. That is, for such games, the gambler have a higher chances of winning, but to make a profit that can be considered to be good enough, the gambler have to bet big money on that game.

While on the other hand, games with big odds pay huge amount in profit, but the chances of winning such games is very low, this is the type of games where some lucky gamblers can literally turn $5 into $100,000 or much more, winning such a bet is not completely reliant on the gamblers level of sports knowledge, this has almost everything to do with how lucky the gambler is.

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Quote from: Sandra_hakeem on June 16, 2024, 03:42:49 PM

Do you believe this analogy as to sport betting? that sometimes, casino bets with higher stakes are likely to not cut it? Considering the amount that a certain multiplier could reach?

I've known a certain group of gamblers that would sing their praises to games with lower potential winnings. At some point, I'm stuck in-between the fact that they're either lucky with games of little potential winnings and it happens on almost every winning tickets? Again, if you're also in doubt to their belief, is their winning tickets on the low outcome always a coincidence? Also, if the casinos are always cautious as to not incuring too much to pay, how about tickets with $800k winnings?

This is more of a psychological thing than a merely physical one, reason being that it is the same possibilities for a bet with higher stakes to convert and that staked lower. The thing is that most times lower stakes are ignored easily when it fails to convert because the funds involved is very little and wouldn't cause much issues for the person concerned compared to higher stakes which you cannot easily let go and causes more pain when lost since the gambler staked with an amount he cannot afford to loose. The relaxed mind that comes with staking low and knowing that it does not matter much to you if you win or loose makes people think that the low stakes converts easily.

Secondly having fewer games in your stakes increases the chances of the games winning, the more games you have in your coupon, the more the probability of it not winning increases because the odds against such stakes are on the increase, while fewer matches decrease considerably the possibility of the games not playing out. We should not also be ignorant of the fact that nothing is promised in gambling, but there are such things as higher probabilities and lower ones with respect to the number of matches and game selections present in your bets.

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Quote from: Sandra_hakeem on June 16, 2024, 03:42:49 PM

Do you believe this analogy as to sport betting? that sometimes, casino bets with higher stakes are likely to not cut it? Considering the amount that a certain multiplier could reach?

I've known a certain group of gamblers that would sing their praises to games with lower potential winnings. At some point, I'm stuck in-between the fact that they're either lucky with games of little potential winnings and it happens on almost every winning tickets? Again, if you're also in doubt to their belief, is their winning tickets on the low outcome always a coincidence? Also, if the casinos are always cautious as to not incuring too much to pay, how about tickets with $800k winnings?

There have been and may not be any game with which you can be too sure about even if it turns out too obvious that the game is goin to have a particular outcome at a certain time, its still very possible the game will turn around as that's what we see commonly with gambling but most persons have refuse to accept this fact and decide to still believe they are too good enough to have games they tag sure by virtue of the odds the game comes with not knowing even the casino isn't very sure too.

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Quote from: Blowon on October 08, 2024, 03:45:39 PM

I think it's just poison in our own minds, just propaganda and everything has its own risks, both high and low, we are just looking for luck and if possible also looking for profit, and everyone also has different choices.

It could be poison in the person's mind; it could also be reality in some cases, as big winnings most of the time don't always happen the way we expect them, and when you try to place bets on small odd games that will give small winnings, they always end up positive, but not in all cases, which makes one wonder if the casino does play with our intelligence or if it's just us wondering.

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Quote from: Makus on October 09, 2024, 04:42:46 PM

Quote from: hedgeh0g on October 08, 2024, 03:23:14 AM

However, there is an old saying, "if you don't play, you won't win", so I, although not very often, but place bets on sports events and I find it much more interesting than spinning the spins, although there are definitely those players who will object that sports betting is absolutely not interesting. I even developed a new interest, I began to be too selective in betting, I study each match before betting on several of them so that in case of winning, I can multiply the profit, but we must not forget that a draw can ruin everything for us. Therefore, I begin to be overcome by fear if I have the last match left, but I need to learn not to experience these emotions and I am working on it.

Well, initially I used to believe that gambling on small stake would actually guarantee win whereas when you try increasing the stake you eventually loss. That was my initial thought based on few gambling experiences I had.but over the years I have come to a realization that it all depends on luck irrespective of the amount of stake used in placing the bet. This experience is mostly gotten from casino games. One major factor to consider before gambling is that fact that one can get addicted easily and gamble irresponsibly even if you are on the wining side. People over rate the word addicted and forget that by dedicating your time to gamble on a regular basis could be or even lead to addiction meanwhile irresponsible gambling follows after addictive habits have been created.

From my little experience, it is not just about the amount you staked that will guarantee your winning or loss, the real thing that makes use win is luck. When we are lucky, no matter how small or how big we staked the game it won't be a problem, the whole issue is when we stake big and lose. Sometimes when you stake big and lose you feel emotionally depressed because you risked what you couldn't afford to lose but when you stake small money and lose it you won't feel bad because you risked what you can afford to lose.
Casino games are the ones you need a lot of luck to win, just today I tried lucky dragon and I almost lost my deposit, so I have to stop for some hours and try another game, but luckily for me I mange to win and I withdrawed the money ASAP. But when it comes to sport games, your strategy and luck works together, you need good strategy and you also need luck to win

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Quote from: Makus on October 09, 2024, 04:42:46 PM

Well, initially I used to believe that gambling on small stake would actually guarantee win whereas when you try increasing the stake you eventually loss.

For the most part, that's the case though. mind you, there's a very simple rule in gambling; don't always be in expectance of anything to happen spontaneously... It will never be the case.
Someone might say -- they've wagered 6,7,8 conservative times over a single line of Smaller odds and it's paid off... Well again, that only validates the fact that this game is a GAME OF LUCK.

Don't get me wrong, what I define as LUCK is the ability of having an understanding as to how to achieve a win, executing the act and also, the random selection falling in your style and pattern of prediction. Not some unknown force that exist outside the universe, unaccounted for, but some how that guarantees the possiblity of winning a lottery...

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Quote from: Adbitco on October 08, 2024, 11:16:27 AM

Quote from: Russlenat on June 16, 2024, 05:12:03 PM

Big odds with big payout, mathematically, the percentage of winning on our side is lower, so it will hit 50% most of the time. In terms of payouts, that depends on the sportsbook as they set their own limit, but those huge sportsbook could accept a million dollar bet, but as mentioned, they'll balance the action so their funds will not be affected and will just get the juice from the winning bets.

Don't you think most of the sportsbook do have a kind of reserved funds in their balance maybe when there are higher winning rate in the site with same game or same matches, and how do we calculates the total numbers of person's to win in the casino/gambling site per day or week and month. This mostly happens to newly start up site and is either they set limit of the total amount to bet or they set limits on total amount you can be able to withdraw from their site, if they noticed that users are declining they would removed the limits and implements strict kyc that could be more difficult for gamblers to make withdraw in other to maintain the range at which one will withdraw from their site.

Sure before any casino startups they must have enough reserve funds known as capital which is compulsory by the financial authority in their religion. Just like any monetary organization, there is always an amount that the company needs to hold before it can be granted a license to operate. In terms of how they calculate the total number of persons who win in the casino per day, weekly, or monthly. Its is been automated. That is the role of the backend developer, to write codes that keep statistics of everything going on in the site. There is a separate admin panel where only the platform admin has access to what happens in the casino. These allows the platform to control activities, deleted users, accept kyc and other backend permissions that the platform needs to do.

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Quote from: hedgeh0g on October 08, 2024, 03:23:14 AM

However, there is an old saying, "if you don't play, you won't win", so I, although not very often, but place bets on sports events and I find it much more interesting than spinning the spins, although there are definitely those players who will object that sports betting is absolutely not interesting. I even developed a new interest, I began to be too selective in betting, I study each match before betting on several of them so that in case of winning, I can multiply the profit, but we must not forget that a draw can ruin everything for us. Therefore, I begin to be overcome by fear if I have the last match left, but I need to learn not to experience these emotions and I am working on it.

Well, initially I used to believe that gambling on small stake would actually guarantee win whereas when you try increasing the stake you eventually loss. That was my initial thought based on few gambling experiences I had.but over the years I have come to a realization that it all depends on luck irrespective of the amount of stake used in placing the bet. This experience is mostly gotten from casino games. One major factor to consider before gambling is that fact that one can get addicted easily and gamble irresponsibly even if you are on the wining side. People over rate the word addicted and forget that by dedicating your time to gamble on a regular basis could be or even lead to addiction meanwhile irresponsible gambling follows after addictive habits have been created.

Topic: An analogy in gambling. - page 4. (Read 959 times)