Topic: Can gambling be profitable in long term ? - page 5. (Read 112258 times)

One must be extremely lucky in every circumstances to make gambling profitable for the long term but i believe that no one is really that lucky to be able to make profits out of bitcoin at every turn.

It all takes luck and chances. Nothing is sure but one thing can also be sure, if winning is not, losing is sure to happen. Maybe in one day you can earn the amount you mentiond but chances are not everyday we win in gambling.

Gambling is not like trading because in long term investment you can make more money through trading. Through gambling there is no specific goal for long term investment but may be you will attain some experience but either way loosing chances are very high.

Gambling has always come into two faces its either to win and to lose, how many times we win is only a few of how many times we've lose, so i think in a long run gambling is not profitable in terms of financial, but surely fun and leisure is the only things that we have always win in gambling.

All I can testify to is what I have seen and heard from people that over a long period of time have been getting success playing Dice. And if you there's a 49,5% chance to win, that does not mean the game is 100% luck, or?

I'm not really a Dice player myself so I'm also learning with this, but I think that maybe we are both right to some extent..

We are talking about texas hold'm, right? I didn't say that is main reason:
At least 4 reasons and in [5] [6] [7] you will find more reasons. Also one more reason - lots of players are emotional, that is not good for poker and it can decrease players chance to win because pissed player is making terrible moves.

As for dice, it is game with negative expected value and you can't apply bankroll management because in long run everyone lose. It won't make any difference to gamble with whole bankroll in one session or to divide money to hundred small bankrolls. Strategies won't help you in long run, however you can be lucky to win something in short run. Math isn't on your side: 49.5% chance to win and 50.5% chance to lose, which means it is better to place few bigger bets rather than 100000 small bets, because if you place few bets you might hit few times in row and actually win, while in case of putting 100,000 smaller bets you will win 49500 times and you will lose 50500 times, and overall you will lost 1000 bets. If you apply any kind of strategy, more rolls you make higher chance is that very long bad streak will occur and eventually it will. Whatever you do, no matter how pissed/happy/cold-headed you are you can't change outcome of the game, you can choose under or over and that's it, no matter what you do outcome will remain the same, so with all this said you can't really compare dice(100% luck) with poker(12% luck, i've read statistics..somewhere), they are not even similar.

all in is a great way to double our profits and not spend a long time. and indeed in the end if we sit too long at a gambling site. eventually we will lose it all. and maybe it's the same as all in risk

You can play the odds and look at a total run of 1000, 10,000 or 100,000 rolls. It is not completely luck based, same thing could be said about poker as well if so where the best players only play the % over a total number of hands. You can't really believe that the main reason for poker players being good is that they can read what their opponents have..?

And not just bankroll management, it is skill to read people and make the right decision at the right time, skill to trick your opponent. There are lots of strategies, books, videos and tips about poker, what to play and when to play, if you know how to play it you will make profit.
I'll pick number 0-100 and you have to guess is that number under or over 50.
How is that not completely luck based game? Any strategy can work on short, but for long run strategy will eventually stop working and you will lose. People who made profit were lucky, nothing else.

Not sure why Poker is "to some extent" +ev according to you.. IMO if you know what you are doing Poker is your best bet at increasing your bank roll if you just stick with it over a long period of time and if you manage your bankroll well. Not sure I can agree that Dice is just completely luck based as there are certain strategies/systems that you can apply to your playing. There are a lot of people playing high stakes Dice which manage to take out a profit and in the long term show the rest of us how it works. Don't think I've ever seen a dice site where the house has a 100% edge (bet it wouldn't stay open for very long.. )

Yes, greedy is the main problem in gambling that most gamblers will face. And unfortunately, greedy is very hard to control. It will take a long time for us to control it.

Yes holding in gambling is not possible at all because the gamblers invest their winning amount again and again so the bitcoin is not stable the hands of gamblers and it remains same in all time if he loss the total bitcoin will fall into gambling so the bitcoin will not stay on gamblers pocket for long years.

But it's still possible to make good profits as long you're not greedy. The probabililty never wrong, but we can handle to stop lossing or make limit win, cause the big problem of gambling is greedy and cannot stop to gamble, not because probability..

Even how many years it will take i don't think that gambling will be profitable even in the future, I can say that gambling is about luck and skills is just an additional. There are kinds of gambling that skills are not needed like in the lottery..What's the best thing you should do is don't ever risk your money in gambling much better you invest it in bicoin you can get profit from it so sure.

I don't see anything here in gambling for holding long term benefit. Maybe you will get experience by gambling but most of the times you may loose, gambling is always not profitable even first day of your gambling.

Gambling for me is not profitable in long term profit because everytime going to gambling you just hope for your winnings.But you only have 2 way destine in gambling a winner or a loser. So we don't have the assurance to get profit in gambling. Because it's not for a long term income. Gambling is just a game to have some fun and do it for relaxation. It's not a permanent position or a job.

I agree with you that sports betting and to some larger extent poker offers us the luxury to make inputs and expect our inputs in the game to yield profits unlike the fully luck based games like dice which gives all the chance to the house.

If you choose to do it long term and you do not have the necessary skills to succeed, it's like you are making a suicide
as eventually when you get too frustrated you will lose a lot of money which will for sure made you regret in the end.
Your suggestion is right, we should only take gambling lightly and instead of focusing on the profit, just relax and play for fun to minimize the risk.

this thread and the replies are so dumb..
gambling can be longterm profitable or +ev.. but only sports betting and poker, and some casino games like blackjack if you card count..
everything else has negative expectation
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