Between the gambler and the casino who lose more - page 5.

Accardo

hero member

Activity: 1274

Merit: 561

Leading Crypto Sports Betting & Casino Platform

Quote from: klidex on August 25, 2024, 11:21:02 PM

but I also can't deny that there are also casinos that go bankrupt because they don't have enough funds to pay the winnings of people who dare to take the risk of betting big with a big chance of winning but things like this rarely happen as far as I know gambling houses always benefit from their business.

There are many roads to bankruptcy but I'd say it's a lack of competent management for a casino to file for bankruptcy. The market is large enough to accommodate a long-lasting business era for any established casino. I hear more of offline casino settings suffering bankruptcy. The expense of running a casino isn't a play. Only real management keeps casinos running for decades without a financial meltdown.

However, the success of a casino simply means the financial downfall of many gamblers. The question is, should gamblers win more and watch casinos go bankrupt? We'd lose our source of fun at the gaming level if that happens. In a nutshell, the money lost in gambling is for the game to go on.

klidex

hero member

Activity: 1498

Merit: 504

I think gamblers are the ones who are at greater risk of losing because their losses will be wins for others and will continue to be so, the more players playing in casinos will be more profitable for casino owners because they don't need to prepare a lot of money for someone's win. The percentage of wins and losses is more losses and casino owners still get a lot of profit from users who play gambling, but I also can't deny that there are also casinos that go bankrupt because they don't have enough funds to pay the winnings of people who dare to take the risk of betting big with a big chance of winning but things like this rarely happen as far as I know gambling houses always benefit from their business.

ralle14

legendary

Activity: 3346

Merit: 1914

Shuffle.com

Between those two, it's always us gamblers who'll have to lose more because we mostly rely on luck, and it's never enough to put casinos in danger when they can get those losses back in no time.

I also agree with the others, casinos nowadays even in the early phase have become strict with the limits (bonuses, max win, max bet, withdrawals), and most of them probably adapted from the previous mistakes of other casinos.

If it was several years back when casino bankroll was still the trend maybe i'd change my pick to casinos, as I remember the bankroll investors were getting hit from one casino to another.

Pandu Geddon

hero member

Activity: 826

Merit: 583

Quote from: Odusko on August 25, 2024, 05:18:28 PM

Offcourse we are aware of the some features that could put the casino at advantage such as the house Edge, but even for that some gambler's are lucky win big despite the house edge that put the casino t advantage, so between the two who risk more.

greater risk of loss to the gambler. I don't know the way but in casino games, we know the chances of winning the gambler I think are not big enough in certain games. but some possibilities of gamblers winning big at the beginning when they try a new casino are also possible. but the situation also depends on how many gamblers play at the casino. if the casino does not have enough money that they use to pay the maximum winnings obtained, it is clear that it will only make the casino bankrupt even though it has just started. or at least have financial problems. but for new casinos that are more prepared with all the arrangements, including getting more gamblers at the beginning of their work. it can help them survive longer.

Franctoshi

hero member

Activity: 966

Merit: 588

Quote from: Odusko on August 25, 2024, 05:18:28 PM

I don't know if this have been discussed before, but this question was born out of the discussions that we hard today on one of the threads in the forum about, the risk of casino's losing money as a start up, what it means is that, most cryptocurrency casino that are New start up have been faced with the challenges of gambler's winning big amount even on the first day of their lunch, so for that we have to make out time to discuss this topics as for who lose more between the casino operator or the gamblers and how can you compare the risk of casino Dev and against the gambler himself?

Offcourse we are aware of the some features that could put the casino at advantage such as the house Edge, but even for that some gambler's are lucky win big despite the house edge that put the casino t advantage, so between the two who risk more.

The only time I would think that the Casino platform would face a challenge, and possibly running out of cash to settle its customers payments would be a situation whereby the Casino platform experiences a big cash out on their lunch day, because then they haven't gained a lot of customers who are patronizing them as at the moment, so mostly likely the funds they will be paying out to their customers on the event of customers who won bets will be out of their pockets.

Darker45

legendary

Activity: 2576

Merit: 1860

If we talk about the rule rather than the exemption, then it isn't even a question. The casino always wins. The more gamblers who want to try their luck the better. While there may be instances in which individual gamblers are making money, generally speaking, it is always the casino that's earning big money from their players. Otherwise-- if casinos lose more-- then there shouldn't have been any casino left running today. On the contrary, casinos are multiplying both land-based and online. It's good business.

Overall, you cannot expect luck to overcome house edge.

LDL

hero member

Activity: 742

Merit: 671

Only those who participate can say which of the two platforms, gambling and casino, has more losses, but I bet on gambling Sportsbetting, so I have both the possibility of loss and profit. If I can say from my point of view, I must say that gambling is where I lose the most. But I don't have much losing experience in casinos because I don't favor casinos. However, be it gambling or casino, there will always be a possibility of loss because the gambling or casino authorities arrange their sites in such a way that there will be combinations of profit and loss.

Wexnident

hero member

Activity: 2702

Merit: 672

I don't request loans~

Quote from: Odusko on August 25, 2024, 05:18:28 PM

~

That's why capital is such an important thing. Idk about other types of businesses but a casino is NOT an immediate profit type of business. It relies on users staying and playing on the long run, profiting off of house edge for every bet. Yes, you can stay an example where a player suddenly won a big amount the day a casino opened, but it's easily counter-able by just having enough capital to support the business and from that, the casino just continues to grow its funds more and more.

If we were to compare just the raw amount, naturally casino loses more than your average user. At the same time though their losses are offset by the amount they earn, so if you also take that into account the naturally the players lose more.

nakamura12

hero member

Activity: 2268

Merit: 669

Bitcoin Casino Est. 2013

Most casinos doesn't lose more compared to gamblers. As others have explained, casinos losing money is rare that's why many casinos earn more instead of lose more than the gamblers lose. Because of that, casinos even run their advertisements for years to attract more and more gamblers then the more they attract then the more they earn. Casinos have reserves to pay if someone is very lucky to win huge amount of money and if it did not reach then they'll pay the user little by little or due to the maximum withdrawal limit.

Adbitco

hero member

Activity: 1428

Merit: 653

Leading Crypto Sports Betting & Casino Platform

Quote from: _act_ on August 25, 2024, 06:32:20 PM

Quote from: Adbitco on August 25, 2024, 06:02:18 PM

If i could recall correctly this topic or something similar to this has been discussed over here before but that notwithstanding, usually casino owner do have reserved fund to operate the platform for the first 2 to 6 months of their launched before they could start raising money from the casino.

Advertisement is very important. The casino will spend money on advertisement for that period of time also. So that more people can know about their site and gamble with them. But as people are joining already, the casino will start to make money. With better advertisement, the casino would have been making money before 6 months. Aside advertisement, paying workers, server maintenance and the likes, there is no money to pay gamblers because the gamblers that will lose will be more than the gamblers that would win. They will use the money they receive from gamblers to pay other gamblers right from the beginning, except in very almost impossible cases.

Yes that was I said most of them do have reserved fund to pay for those expenses, and of course every casino or gambling site do need advertisement to make their casino be visible to forum or to entire media, with advertisement it attracts more gamblers and more money keeps flowing in their system but when they sees that there aren't making enough profits as expected they don't mind ceasing their promotions that is why we see some project run their adverts for only one week or two weeks over here in the forum.

AliMan

hero member

Activity: 1974

Merit: 502

Vave.com - Crypto Casino

Gambler loses more compared with the casino house, because they spend more effort and time to beat the system. Often times the system cannot be undertaken since it's monitored closely by admins of the house. This kind of business always took opportunity to bring profit at their end, and users always ended up a loser. Even if you win, but eventually in the long run you're still be losing what you have.

_act_

legendary

Activity: 1064

Merit: 1298

Lightning network is good with small amount of BTC

Quote from: Adbitco on August 25, 2024, 06:02:18 PM

If i could recall correctly this topic or something similar to this has been discussed over here before but that notwithstanding, usually casino owner do have reserved fund to operate the platform for the first 2 to 6 months of their launched before they could start raising money from the casino.

Advertisement is very important. The casino will spend money on advertisement for that period of time also. So that more people can know about their site and gamble with them. But as people are joining already, the casino will start to make money. With better advertisement, the casino would have been making money before 6 months. Aside advertisement, paying workers, server maintenance and the likes, there is no money to pay gamblers because the gamblers that will lose will be more than the gamblers that would win. They will use the money they receive from gamblers to pay other gamblers right from the beginning, except in very almost impossible cases.

Dewi Aries

legendary

Activity: 2716

Merit: 1092

Leading Crypto Sports Betting & Casino Platform

Honestly, I never knew about what algorithm is applied in the game system provided by the casino, but what is certain is that I think that from the beginning the casino must have thought about this problem, in the sense of thinking about the possibility of gamblers who managed to get a very big win, especially when the casino was just opened, meaning I am sure that from the beginning the casino had arranged everything in such a way that they remained superior, such as limiting the amount of big wins that were worthy of gamblers in each game provided.

But yes, I also do not say that the casino will avoid the possibility of bankruptcy, it is always possible, but what is certain is that I think it is not caused by the victory achieved by the gamblers, but because they usually mismanage their finances. What I know about casinos is that they give victory to 10 people, for example, but on the other hand they also take advantage of 100 gamblers who lose, this is the reason why some lose and some win at the same time, and this is also the reason why casinos always excel and survive.

EluguHcman

sr. member

Activity: 504

Merit: 254

For sure the gamblers looses more due to the chances of winning is always low while loosing are higher. You can always follow the news or probably visit the physical gambling shops and see how much game slips which has been lost floods over the premises per days.
That literally a contention to say there gamblers looses more than the bookmakers or casinos.

While considering the Luckiness of winning, anything can happen which probably a winning can shut down a casino that has not been financially equipped to pay gamblers despite how huge the winning amount would be that is why casino too need to be financially equipped in case the game turns around to redeem gamblers rewards of winning.

Obviously inability of the casinos to put these fact in place earlier on wre most cases while some casinos shuts down are a course of not being able to pay gamblers when they have win possible huge amount that the casinos never expected to happen.

Die_empty

hero member

Activity: 686

Merit: 987

Give all before death

Quote from: Odusko on August 25, 2024, 05:18:28 PM

Offcourse we are aware of the some features that could put the casino at advantage such as the house Edge, but even for that some gambler's are lucky win big despite the house edge that put the casino t advantage, so between the two who risk more.

A well-managed casino should be able to have maximum win limits that ensure that there will never an unexpected big wins that will make them go bankrupt.

Having a daily withdrawal limit could be another means of protecting the casino from going down. The casino will be able to raise funds through losses by gamblers to gradually pay big winners based on the daily withdrawal limit.

I have also read about some insurance policies for casino operators. Some casinos can also protect themselves against bankruptcy by taking insurance policies that could cover big wins.

Just like any other business, a casino that has a good financial plan and a good management system will always have an edge over gamblers. Casinos can be able to organize their business to ensure that they don't experience losses, but gamblers don't have such a privilege. So I would have to conclude that gamblers lose more.

TelolettOm

hero member

Activity: 2086

Merit: 553

Leading Crypto Sports Betting & Casino Platform

Just imagine, maybe there is 1 person who wins a jackpot with a very large nominal. However, on the other hand, there are hundreds of thousands or maybe millions of other people who lose at that time, so the nominal is compared to what the casino must issue for JP. much greater accumulation of losses from all gamblers.

I quoted this from a site:

Quote

Casinos and bookmakers are businesses designed to make money from gamblers, and they are good at doing it. They know that gamblers are more likely to gamble more in the future if they believe they almost won

Source: Why Gamblers Rarely Win

Casinos definitely get more benefits:
- They are the experts in designing all the possibilities that exist
- They have the system
- They are the ones who manage it
- Even though there are cheaters in the casino, they have their counters, and they still have bigger chances for other gamblers
- They have their strategies so that gamblers don't want to stop and continue gambling there

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

Of course it's the casino which profits more and that is why they are active and operating on this industry for several years already. On long term they always have the advantage. Even if a gambler wins a nice jackpot and bring a considerable loss for the house, it's just a matter of time until the casino recovers from the prejudice through making profit from another gamblers' bets.

For people who were familiar with bankroll investment in previous years, they know what I'm talking about. Sometimes we had our investments in loss for few days or weeks, but after some time the loss suddenly turned into profit, once a whale lost huge money to the casino. That is why to have a large bankroll is important for the betting shop, so they can absorb the losses on short run without going bankrupted and scamming their customers.

Hatchy

sr. member

Activity: 336

Merit: 365

The Alliance Of Bitcointalk Translators - ENG>PID

Quote from: Odusko on August 25, 2024, 05:18:28 PM

Offcourse we are aware of the some features that could put the casino at advantage such as the house Edge, but even for that some gambler's are lucky win big despite the house edge that put the casino t advantage, so between the two who risk more.

The casino literally has the upper hand when it comes to winning. No matter how much profits the gamblers makes from a casino, the total losses made from playing each day on casino is bigger in ratio compare to the wins. The players are the in responsible for their losses though but the algorithm is designed to let the hux have an upper edge in winning.so we can say that the one who loesse more is actually the gamblers.

Adbitco

hero member

Activity: 1428

Merit: 653

Leading Crypto Sports Betting & Casino Platform

Quote from: Odusko on August 25, 2024, 05:18:28 PM

I don't know if this have been discussed before, but this question was born out of the discussions that we hard today on one of the threads in the forum about, the risk of casino's losing money as a start up, what it means is that, most cryptocurrency casino that are New start up have been faced with the challenges of gambler's winning big amount even on the first day of their lunch, so for that we have to make out time to discuss this topics as for who lose more between the casino operator or the gamblers and how can you compare the risk of casino Dev and against the gambler himself?

Offcourse we are aware of the some features that could put the casino at advantage such as the house Edge, but even for that some gambler's are lucky win big despite the house edge that put the casino t advantage, so between the two who risk more.

If i could recall correctly this topic or something similar to this has been discussed over here before but that notwithstanding, usually casino owner do have reserved fund to operate the platform for the first 2 to 6 months of their launched before they could start raising money from the casino. This their personal funds which serves as a reserved funds is to pay out winning and dev also staff who are working under them, this is a reason why most casinos do not allow heavy withdrawal even though you had passed kyc with all their requirement you would have to withdraw about $100k for about 3 weeks to 1 months interval to enable also payout to other people, since the restriction wouldn't allow you to make huge withdraw so the little funds they had in reserved would served round for that period of time while more people keep losing. You should also take note that winning are very hard unlike lost that is so easily and the casino wouldn't take much time to make profits from their customers.

passwordnow

hero member

Activity: 3136

Merit: 591

Leading Crypto Sports Betting & Casino Platform

Quote from: Odusko on August 25, 2024, 05:18:28 PM

who lose more between the casino operator or the gamblers and how can you compare the risk of casino Dev and against the gambler himself?

Offcourse we are aware of the some features that could put the casino at advantage such as the house Edge, but even for that some gambler's are lucky win big despite the house edge that put the casino t advantage, so between the two who risk more.

You already answered your question that it is the gamblers that losses more money than of the casino. Regardless of the casino as a startup, they're bound to make money as long as their plans go well and they're able to gain significant number of users into their platform. The house edge is a real thing for these casinos because they make a lot of money from it from the volume of the users that they're having. So even it's just 1% house edge but they've got thousands and more of users, that's still a lot of buck to make for them everyday.

I think that even with gamblers winning huge jackpots, they're anticipating that to happen and they have enough funds to cover that and for them to recover. Unless that startup casino didn't planned that and they're able to miss out that scenario and it happened on them when they're unprepared but I doubt that because most of them have enough money for these jackpots and it's one way for them to also gain more players when someone hits a jackpot playing on them.

Topic: Between the gambler and the casino who lose more - page 5. (Read 899 times)