Can gambling be profitable in long term ? - page 162.

ranochigo

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Quote from: kostya.ash on November 01, 2015, 08:08:43 PM

Quote from: Bitinity on November 01, 2015, 10:24:16 AM

Quote from: Compa on October 31, 2015, 03:50:25 AM

Is my friend can play dice and sport betting
He can earn about 0.1-1 btc/week
but i dont know can survive be profitable in long term.

I doubt about this, I dont think he can earn 0.1-1btc/week constantly. I believe he have lost some money too in a week. Because you say your friend is also playing dice which is purely luck-based game. So it is impossible to have lunch luck every week.

so if we just play gambling on sports bet its can be profitable long term, because sport betting is not just on luck right ?

It is on both. Keep in mind that the payout of sports gambling is much lower for those who have a higher odds of winning and at times, they lose and it would take several bets to recover your loss. In the long run, you would lose out. Hence, the existence of sites for people to sports bet.

Erza

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Quote from: Karpeles on November 01, 2015, 11:47:28 AM

Quote from: everaja on October 31, 2015, 09:19:36 AM

Generally the gambling is not profitable in long Term , but if you can cash-out the Initial and wisely play the game with fraction of profits then you can win and will not be in loss.

But sooner or later you will lose everything and you will have to make another withdraw or never gamble again.

So you deposit and end up in loss after some losses, because in general people don't stop when they lose

Its true because every person will changing their luck by playing it again and again. It is like wheel sometimes you are down and sometimes you are up so if you stop when you are lose that means you stop your chance for being back on top that is why they keep on playing until they recover their loss

kostya.ash

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Quote from: Bitinity on November 01, 2015, 10:24:16 AM

Quote from: Compa on October 31, 2015, 03:50:25 AM

Is my friend can play dice and sport betting
He can earn about 0.1-1 btc/week
but i dont know can survive be profitable in long term.

I doubt about this, I dont think he can earn 0.1-1btc/week constantly. I believe he have lost some money too in a week. Because you say your friend is also playing dice which is purely luck-based game. So it is impossible to have lunch luck every week.

so if we just play gambling on sports bet its can be profitable long term, because sport betting is not just on luck right ?

Omikifuse

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Quote from: eli113 on November 01, 2015, 05:10:38 PM

i personaly gamble a lot but i was never thought gambling as investment

for me is more like buying some wicked kind of fun ,alternative to going at a movie theatre etc

but if you want to see how you can gamble for long term success i can give you a bit of help

you must bet only when the odds to win are almost imposible like 1 chance out of 10,000 up to 1 chance out of multi-millions
those kind of bets you may find usually in national loteries and such ,thats not bad about how fair the game can be

then you need to decide a very very small bet you can put every day or week until you win just once !
if you are really lucky then odds are in your favor ,otherwise you will pay really cheap just to confirm your bad luck

have a nice day and good luck of course !

problem is the time taken by your small and daily bets.

if I go to buy a loterry ticket, I spend at least 30 min. Or 26 hours during a whole week.

You can do many things in 26 hours. There are courses that will last 26 hours and may give you returns

eli113

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void

i personaly gamble a lot but i was never thought gambling as investment

for me is more like buying some wicked kind of fun ,alternative to going at a movie theatre etc

but if you want to see how you can gamble for long term success i can give you a bit of help

you must bet only when the odds to win are almost imposible like 1 chance out of 10,000 up to 1 chance out of multi-millions
those kind of bets you may find usually in national loteries and such ,thats not bad about how fair the game can be

then you need to decide a very very small bet you can put every day or week until you win just once !
if you are really lucky then odds are in your favor ,otherwise you will pay really cheap just to confirm your bad luck

have a nice day and good luck of course !

Superhitech

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Quote from: iv4n on November 01, 2015, 03:56:56 PM

We all think about it sometime – somehow finding a trick to get rich quickly. It’s not easy but it is possible. It is possible to win money gambling, but it has to be a full time job. Learning card counting is difficult. Betting on sports can be done if you take a financial approach and do it full time. In poker, you're going up against other player`s. Every game have different approach. If u don`t try, u will never know.

Not all games have a specific approach though, for example dice is just based on luck, there is not really a strategy for it.

iv4n

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We all think about it sometime – somehow finding a trick to get rich quickly. It’s not easy but it is possible. It is possible to win money gambling, but it has to be a full time job. Learning card counting is difficult. Betting on sports can be done if you take a financial approach and do it full time. In poker, you're going up against other player`s. Every game have different approach. If u don`t try, u will never know.

Karpeles

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Quote from: everaja on October 31, 2015, 09:19:36 AM

Generally the gambling is not profitable in long Term , but if you can cash-out the Initial and wisely play the game with fraction of profits then you can win and will not be in loss.

But sooner or later you will lose everything and you will have to make another withdraw or never gamble again.

So you deposit and end up in loss after some losses, because in general people don't stop when they lose

Erza

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Quote from: everaja on October 31, 2015, 09:19:36 AM

Generally the gambling is not profitable in long Term , but if you can cash-out the Initial and wisely play the game with fraction of profits then you can win and will not be in loss.

Nope every person will suffer this loss thing no matter what. But the point is how to recover it that is hardest thing. Although pro player still can suffer a lot sometimes but they can manage to recover it

Bitinity

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Quote from: Compa on October 31, 2015, 03:50:25 AM

Is my friend can play dice and sport betting
He can earn about 0.1-1 btc/week
but i dont know can survive be profitable in long term.

I doubt about this, I dont think he can earn 0.1-1btc/week constantly. I believe he have lost some money too in a week. Because you say your friend is also playing dice which is purely luck-based game. So it is impossible to have lunch luck every week.

ronaldo40

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Quote from: BitCentral on November 01, 2015, 04:24:40 AM

Quote from: ronaldo40 on November 01, 2015, 04:10:30 AM

Quote from: Compa on October 31, 2015, 03:50:25 AM

Is my friend can play dice and sport betting
He can earn about 0.1-1 btc/week
but i dont know can survive be profitable in long term.

it was excellent, it means your friend has a good skill or expertise. but in gambling all depends on luck even though you have selected the safest, so for the long term anything can happen, even though your friend is very good at making a profit each week

I ever play gambling with bank roll management system.
Only bet around 1%-2% from my bankroll.
Firstly, i feel very slow to earn from that technique, i just got very small profit from it.

And when i really sure in some sport match.
.. i lose all 50% of my bankroll just for small odds. That's great

I too have experienced the same thing as you and it happened when I was playing dice, so I use a safe technique to play at 95% like to try a small bet and I always make a profit, but when I raise my bet bigger and finally I lost. whereas in my opinion should have been quite safe, because red numbers have come out.

ranochigo

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Quote from: Winalunt on November 01, 2015, 03:03:36 AM

Quote from: iram66680 on November 01, 2015, 02:19:03 AM

Quote from: CasioK on October 29, 2015, 11:09:18 PM

Quote from: BitMaxz on October 28, 2015, 03:05:55 PM

Quote from: 1990BEARS on October 26, 2015, 07:26:12 PM

No you can not win and beat house edge with strategy
It's all luck

Do you think its all luck? For me this is base for a system of the game. You have 10% chances to win 90% for lose. so i f your capital has a 10% profit or much better just control your self not be greedy.. some gamblers if he wins and have a lot of profit he/she still playing because he want to double the profit.

I'm not able to accept that there are only 10% to win. I believe that we have equal chance for both winning or loosing. It must be a 50-50 chances in almost all type of gambling. That's the reason people are still believing that gambling are profitable in long run.

If there are 10% chance, the payout is significantly higher too. It works both ways, higher payout=lower chance, lower payout= higher chance. That applies in dice games and roulette. Even if it's 50-50, gambling will not be profitable due to varience.

Keeping Luck aside ,It's not because of variance but because of the common 1% house edge ,sometimes the short term variance can give you hundreds of coins in profit .

And make you lose money too. Even in the perfect situation with 0% house edge, there is still a possibility of you hitting 20+ lose streak due to varience. Varience can not only allow you to gain money but also lose it.

BitCentral

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Quote from: ronaldo40 on November 01, 2015, 04:10:30 AM

Quote from: Compa on October 31, 2015, 03:50:25 AM

Is my friend can play dice and sport betting
He can earn about 0.1-1 btc/week
but i dont know can survive be profitable in long term.

it was excellent, it means your friend has a good skill or expertise. but in gambling all depends on luck even though you have selected the safest, so for the long term anything can happen, even though your friend is very good at making a profit each week

I ever play gambling with bank roll management system.
Only bet around 1%-2% from my bankroll.
Firstly, i feel very slow to earn from that technique, i just got very small profit from it.

And when i really sure in some sport match.
.. i lose all 50% of my bankroll just for small odds. That's great

BTCevo

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Quote from: Compa on October 31, 2015, 03:50:25 AM

Is my friend can play dice and sport betting
He can earn about 0.1-1 btc/week
but i dont know can survive be profitable in long term.

Yes it is possible true but can your friend maintain it for a longer time? I dont think so because you will suffer much loss before you know it so when you are on top please stop it for a while for relaxing your mind before you continue to play it again

ronaldo40

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Quote from: Compa on October 31, 2015, 03:50:25 AM

Is my friend can play dice and sport betting
He can earn about 0.1-1 btc/week
but i dont know can survive be profitable in long term.

it was excellent, it means your friend has a good skill or expertise. but in gambling all depends on luck even though you have selected the safest, so for the long term anything can happen, even though your friend is very good at making a profit each week

gampher

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Quote from: jpouza on November 01, 2015, 03:28:31 AM

Quote from: ranochigo on November 01, 2015, 12:23:49 AM

Quote from: everaja on October 31, 2015, 09:19:36 AM

Generally the gambling is not profitable in long Term , but if you can cash-out the Initial and wisely play the game with fraction of profits then you can win and will not be in loss.

I believe the main problem is still if you can win in the first few bets when you are trying to make profit. Many has lost in that process and they would still be in a loss. After you lose your profit, you would still be trying to deposit your coins and try to play with new profits generated from the initial bankroll again. After sometime, you would lose everything.

Gambling is not made for profit, mining is... with the right knowledge.

No, mining is also not made for profit ,it is one way to get the currency and use it.
but people do win and recover their loses sometimes.

jpouza

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Quote from: ranochigo on November 01, 2015, 12:23:49 AM

Quote from: everaja on October 31, 2015, 09:19:36 AM

Generally the gambling is not profitable in long Term , but if you can cash-out the Initial and wisely play the game with fraction of profits then you can win and will not be in loss.

I believe the main problem is still if you can win in the first few bets when you are trying to make profit. Many has lost in that process and they would still be in a loss. After you lose your profit, you would still be trying to deposit your coins and try to play with new profits generated from the initial bankroll again. After sometime, you would lose everything.

Gambling is not made for profit, mining is... with the right knowledge.

KIMMY91

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Quote from: Xenoph0bia on October 31, 2015, 10:06:45 AM

Quote from: everaja on October 31, 2015, 09:19:36 AM

Generally the gambling is not profitable in long Term , but if you can cash-out the Initial and wisely play the game with fraction of profits then you can win and will not be in loss.

Yes, agreed with you. If you are withdrawing the whatever profit you have made on a regular basis then you can avoid the loss in long term. Either you will be in profits or will be neutral if you follow this strategy, many people are already successfully following this strategy.

So do i. i agree for above statement. Just try your luck,spend some money and if starting betting is not good,stop. But,if its look good,just proceed and win some money then.

Winalunt

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Quote from: iram66680 on November 01, 2015, 02:19:03 AM

Quote from: CasioK on October 29, 2015, 11:09:18 PM

Quote from: BitMaxz on October 28, 2015, 03:05:55 PM

Quote from: 1990BEARS on October 26, 2015, 07:26:12 PM

No you can not win and beat house edge with strategy
It's all luck

Do you think its all luck? For me this is base for a system of the game. You have 10% chances to win 90% for lose. so i f your capital has a 10% profit or much better just control your self not be greedy.. some gamblers if he wins and have a lot of profit he/she still playing because he want to double the profit.

I'm not able to accept that there are only 10% to win. I believe that we have equal chance for both winning or loosing. It must be a 50-50 chances in almost all type of gambling. That's the reason people are still believing that gambling are profitable in long run.

If there are 10% chance, the payout is significantly higher too. It works both ways, higher payout=lower chance, lower payout= higher chance. That applies in dice games and roulette. Even if it's 50-50, gambling will not be profitable due to varience.

Keeping Luck aside ,It's not because of variance but because of the common 1% house edge ,sometimes the short term variance can give you hundreds of coins in profit .

iram66680

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Activity: 630

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Quote from: CasioK on October 29, 2015, 11:09:18 PM

Quote from: BitMaxz on October 28, 2015, 03:05:55 PM

Quote from: 1990BEARS on October 26, 2015, 07:26:12 PM

No you can not win and beat house edge with strategy
It's all luck

Do you think its all luck? For me this is base for a system of the game. You have 10% chances to win 90% for lose. so i f your capital has a 10% profit or much better just control your self not be greedy.. some gamblers if he wins and have a lot of profit he/she still playing because he want to double the profit.

I'm not able to accept that there are only 10% to win. I believe that we have equal chance for both winning or loosing. It must be a 50-50 chances in almost all type of gambling. That's the reason people are still believing that gambling are profitable in long run.

If there are 10% chance, the payout is significantly higher too. It works both ways, higher payout=lower chance, lower payout= higher chance. That applies in dice games and roulette. Even if it's 50-50, gambling will not be profitable due to varience.

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