Can gambling be profitable in long term ? - page 18.

zoomzoom

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Quote from: South Park on August 17, 2017, 04:59:21 PM

Quote from: gabmen on August 17, 2017, 12:04:08 PM

Quote from: daronch on August 17, 2017, 06:02:20 AM

Most gambling activities are not profitable at all. In fact, they're losing propositions. That's how the house makes money.

There are exceptions though. May want to read up on which types of games are possible to an edge.

Even these games you're talking about that in a way can give you an edge in winming, its still not for long term. Any kind of gambling isnt for long term profits. If you:re looking for long term earnongs, might as well do trading or investing

Getting an edge long term in some games is possible but it is something really hard to achieve, since it is obvious that the house has set their games to favor themselves so only in games like poker where you are playing against other players is where you can find yourself earning some profits but it is not easy.

And sports betting because there are no fixed odds (i.e the house cant predict the exact likelihood of events whereas they could in roulette) it is possible to profit long term through finding incorrectly priced markets, but as the house is directly effected by you winning it's much harder to profit long term than poker, where the house don't really care who wins or loses long term. Sports betting bookmakers will close or limit accounts of successful long term sports betters, so half the job is getting new accounts opened in friends/ relatives names. Also there are some bookmakers who have extremely sharp (accurate) lines, and they don't limit users, but these are so hard to profit on, I'd say less than 0.2% of all sports betters can profit on these, mainly big companies with bots that place bets in milliseconds of a price becoming available.

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since i stop playing gambling because of my lost last week i now realize that playing in the long term may risk our bitcoin into higer one i try to push more and played more and then after losing that bitcoin i all realize whats gambling for when you just risking money for sake of the profit yes i blame my self but not that deep since i considered trading is always there to help my rise again

South Park

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Quote from: gabmen on August 17, 2017, 12:04:08 PM

Quote from: daronch on August 17, 2017, 06:02:20 AM

Most gambling activities are not profitable at all. In fact, they're losing propositions. That's how the house makes money.

There are exceptions though. May want to read up on which types of games are possible to an edge.

Even these games you're talking about that in a way can give you an edge in winming, its still not for long term. Any kind of gambling isnt for long term profits. If you:re looking for long term earnongs, might as well do trading or investing

Getting an edge long term in some games is possible but it is something really hard to achieve, since it is obvious that the house has set their games to favor themselves so only in games like poker where you are playing against other players is where you can find yourself earning some profits but it is not easy.

Cazkys

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Gambling can be a profitable in a long term period if you’re patient enough but $50-$100 everyday is a tad bit impossible. There are gambling games that will earn you serious dough tho. If you have the skills and discipline then you can make a profit off of it. It can be profitable in long term as long as you’re winning more than losing. But I think you’re better off finding a stable job, that is the epitome, I think, of profitable in long term.

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Quote from: daronch on August 17, 2017, 06:02:20 AM

Most gambling activities are not profitable at all. In fact, they're losing propositions. That's how the house makes money.

There are exceptions though. May want to read up on which types of games are possible to an edge.

Even these games you're talking about that in a way can give you an edge in winming, its still not for long term. Any kind of gambling isnt for long term profits. If you:re looking for long term earnongs, might as well do trading or investing

zoomzoom

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Quote from: bhadz on August 17, 2017, 04:06:11 AM

Quote from: dondexter on August 16, 2017, 11:03:19 PM

Yes. With skill, sports betting and poker may be able to bring profit in the long-run. Provided you know what you're doing.

In the long run, it can be and it can't be. Gambling is always unpredictable but if you think that it is a good way to make it profitable in the long term. Do it for yourself, I know in poker I have a friend who is a good poker player but right now he's trying to have some relaxation as it is giving him hard time to recover from his big loss.

The point is it is possible, with games like roulette it is impossible to be profitable long term.

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Most gambling activities are not profitable at all. In fact, they're losing propositions. That's how the house makes money.

There are exceptions though. May want to read up on which types of games are possible to an edge.

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Quote from: DarkIT on August 16, 2017, 11:58:10 AM

Quote from: sheldonnnn on August 16, 2017, 10:51:00 AM

I do not think that gambling can be profitable. This is too risky and unreliable. I do not know a single person who has become rich in gambling. Probably you should have a lot of skills and luck for this.

yeah thats true, gambling can profitable for long term if you have a good skill and also gold luck Grin

because gambling its about skill and luck. without this factor gambling cannot be profitable for long term.

Yeah, gambling is not reliable for long term profit. Otherwise, i have no issue for gambling, but i realize i couldn't earn and make big profit from gambling. The reason gambling is not make in this type where we could earn for a long term but we play gambling in a long way. But if we think that we play gambling behalf of our skills then also i am not agree on it that skills and strategies always work but only one thing work and that is luck.

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Quote from: dondexter on August 16, 2017, 11:03:19 PM

Yes. With skill, sports betting and poker may be able to bring profit in the long-run. Provided you know what you're doing.

In the long run, it can be and it can't be. Gambling is always unpredictable but if you think that it is a good way to make it profitable in the long term. Do it for yourself, I know in poker I have a friend who is a good poker player but right now he's trying to have some relaxation as it is giving him hard time to recover from his big loss.

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Quote from: dondexter on August 16, 2017, 11:03:19 PM

Yes. With skill, sports betting and poker may be able to bring profit in the long-run. Provided you know what you're doing.

That is the key - we should know what we are doing. There is really no guarantee as well that we will always gonna win with games that involve skill but if we are knowledgeable enough and skilled, we are more going to win than lose.

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Quote from: Finestream on August 16, 2017, 10:21:30 PM

Quote from: majdoso on August 16, 2017, 08:37:18 PM

Many people say gambling depends only on luck but i think that experince that you gain when you play too much can be useful. Understanding the game will help you avoid your previous mistakes.

We will actually do on what we believe, if we believe it's based on luck then for sure we will not gonna work to improve our skills.
But for matured people who have been aiming for money like the professional gamblers for sure luck is not a big thing for them because they rely more on their skills to bring them money.

It was everyone dream and goal to realize profitable gambling in the long run .
Unfortunately it is the hardest thing for every single gambler to be achieved.
I can say maybe 2 out of 100 gambler who can really make it happen. Crazy isnt' it?

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Yes. With skill, sports betting and poker may be able to bring profit in the long-run. Provided you know what you're doing.

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No matter what I do, I still am on the losing side.
Even if I sum up all my winnings compared to all the loss it aint even equal. I dont think there is a long term when it comes to this hobby.
It is supposed to be a hobby not a job. Even with a good discipline. There are chances that you emotions will take over.
The human greediness cannot be stopped.

SHAWN-MIDWAYS

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gambling will always be profitable in the short run, never in the long run regardless of how good you say you are!

Quote from: majdoso on August 16, 2017, 08:37:18 PM

Many people say gambling depends only on luck but i think that experince that you gain when you play too much can be useful. Understanding the game will help you avoid your previous mistakes.

To be honest, no matter how perfect we are, mistakes are bound to be made because its just human nature

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Quote from: majdoso on August 16, 2017, 08:37:18 PM

Many people say gambling depends only on luck but i think that experince that you gain when you play too much can be useful. Understanding the game will help you avoid your previous mistakes.

We will actually do on what we believe, if we believe it's based on luck then for sure we will not gonna work to improve our skills.
But for matured people who have been aiming for money like the professional gamblers for sure luck is not a big thing for them because they rely more on their skills to bring them money.

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Quote from: ?? on ??

Quote from: DarkIT on August 16, 2017, 11:58:10 AM

Quote from: sheldonnnn on August 16, 2017, 10:51:00 AM

I do not think that gambling can be profitable. This is too risky and unreliable. I do not know a single person who has become rich in gambling. Probably you should have a lot of skills and luck for this.

yeah thats true, gambling can profitable for long term if you have a good skill and also gold luck Grin

because gambling its about skill and luck. without this factor gambling cannot be profitable for long term.

Yes of course it is, without luck and proper skill the result ultimately will be null or high chance to lose all your seed money. However, continue gamble and generates sufficient revenue hard task ever.

hmm hard task with high risk and also high return to. sometime gambler think that gambler is best way to rich so quickly. but yeah luck is number one! lol Grin

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Many people say gambling depends only on luck but i think that experince that you gain when you play too much can be useful. Understanding the game will help you avoid your previous mistakes.

zoomzoom

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Quote from: subSTRATA on August 16, 2017, 12:39:22 AM

Quote from: zoomzoom on August 15, 2017, 10:52:40 PM

Quote from: crwth on August 15, 2017, 10:49:54 PM

Quote from: zoomzoom on August 15, 2017, 09:49:33 PM

Quote from: raymond541 on August 15, 2017, 05:41:09 PM

gambling never be profitable in long term.Short term you can be profitable if you had good luck but long term 100% chance you will lose all your investment.If you are enough lucky on gambling then this is okay to you but I think 99% people are looser on gambling.play for fun and put how much money you can effort.continuously make 50-100 $ a day just impossible on gambling.

like I've said, define gambling. Poker is technicaly played in a casino, poker is gambling thus "casino" gambling can be long term profitable.

It can be but it requires a lot of patience, that's for sure. If you think about it, if you are requiring yourself to be patient in your games, you can practically always be in the profit side, and play slowly and keep track of your money and plan for the future if you will withdraw or not, something like that.

Yeah.. but my point is some gambling games have no chance of long term profit cos they will always been in the houses favour with fixed and predictable odds like roulette, but with poker you win from other people playing worse than you in the long run.

that's because in poker, you're playing against the other players instead of the house, and the casino just takes a rake of the pot for hosting the game and whatnot. even if the game might be profitable for the player, the casino still makes a profit.

Quote from: zoomzoom on August 15, 2017, 05:25:27 PM

Also, you should define gambling before asking this question.
There is +ev gambling,
and there is -ev gambling.

gambling is gambling, games where you risk your money for a chance to either win or lose. +/- EV are just two scenarios where you can generally expect a win or loss in the long run given a statistically ideal outcome. we dont need to be overly analytical and subdivide gambling into niche outcomes / cases / scenarios.

Quote from: TheBTCAlex on August 15, 2017, 02:20:41 PM

Theoretically it is possible. For a while things may work out for you. But in the end the house edge will win, it always does. There is no way to make profit from gambling in the long run, you may try your luck at it for a short while and then if you get any profits at all, just bag it and don't be greedy, run far away from gambling. This is the only way to profit from gambling. If you don't stop gambling, and it gets addicting to you, you will keep on investing all your saving into it to try and get a good profit but in the end you will lose every single Satoshi to house edge.

not always. +EV only means in a statistically perfect situation, the house will be expected to win by the house edge percentage over the long run. statistics doesnt say so, but it is possible to beat the house in the long run. its just unlikely.

We should subdivide, when the whole thread is asking whether "gambling" can be profitable long term. Some types of gambling can (poker, sports betting) but most can't.

South Park

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Quote from: zoomzoom on August 15, 2017, 03:54:39 PM

This question is asked so frequently. The only type of gambling that can be profitible LONG TERM (without cheating) is poker and sports betting (and markets like politics etc.. basically anything with no fixed odds you can wager on).
Poker because you win others money, and sports betting because it's impossible for bookmaker to always set the line correctly, but they will close and limit winning accounts and literaly less than 1% of all sports betters are successful pros.

There are some other games that can be profitable without cheating if you like to play in live casinos, playing blackjack and counting cards can make you some money but you will be eventually be banned from playing in casinos since they do not like to lose money.

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Quote from: DarkIT on August 16, 2017, 11:58:10 AM

Quote from: sheldonnnn on August 16, 2017, 10:51:00 AM

I do not think that gambling can be profitable. This is too risky and unreliable. I do not know a single person who has become rich in gambling. Probably you should have a lot of skills and luck for this.

yeah thats true, gambling can profitable for long term if you have a good skill and also gold luck Grin

because gambling its about skill and luck. without this factor gambling cannot be profitable for long term.

I dont think that even with some skill we are going to be able to change the outcome of the game. We will need to be lucky. Sometimes we can be much more advantage but to be profitable in the long term it is going to be another story because gambling cant be profitable for us gamblers in the long term

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