Does experience matter in gambling? - page 21.

Oilacris

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Quote from: richkellj on October 24, 2017, 09:05:21 AM

Quote from: Whosdaddy on October 22, 2017, 10:40:35 AM

Quote from: romero121 on October 20, 2017, 10:12:58 PM

Experience helps us make a better money management plan and limit ourselves with the spending. Another thing the continued involvement will help us make better analysis about the events and and make closer predictions. Altogether experience plays 50% while the rest happens on the luck one holds.

I will agree on this. In trading and investments there are skills and experience that matters mostly. You have to make decisions and you will be sticking to them throughout your way. So either you win or you learn. And this learning will help you to take better decisions. But when you talk about gambling, believe me there is only luck. Luck is dominant over experience.

It is crystal clear that gambling is same that is fully dependent on luck and without a good luck, you cannot win even a single penny in gambling. As far as experience and skills are concerned, their role is zero in gambling. Your gambling experience can never help you in winning the game or quitting it on the right time whereas everything is opposite in trading. Trading is not evil or immoral at all like gambling.

0 role on gambling? I dont think so. Come to think off on playing sports betting and some card games. Those games do require good skills and experience for you to take the edge among other players.
This is why i do believe this thing do really matter on gambling but yet applicable on some games which do require it but for dice and slot games then this things isnt really need at all.

Asmonist

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Quote from: GoodOne on October 20, 2017, 08:18:56 PM

Anyone thought why roulette tables set top limits for bets?

Martingale is very popular but you have to manage "Drawdown Limit" that could be enough to cover all your losing steps. These losing steps can/will cost huge amounts

Yes. Experience will matter because gambling can be strategized. An experienced gambler already know or experience the different situations. It can be his or her advantage to formulate strategies to win that certain game. Just like in life, an experienced individual in a certain skill or task is called as an expert. If you have expertise you gain more knowledge into something.

richkellj

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Quote from: Whosdaddy on October 22, 2017, 10:40:35 AM

Quote from: romero121 on October 20, 2017, 10:12:58 PM

Experience helps us make a better money management plan and limit ourselves with the spending. Another thing the continued involvement will help us make better analysis about the events and and make closer predictions. Altogether experience plays 50% while the rest happens on the luck one holds.

I will agree on this. In trading and investments there are skills and experience that matters mostly. You have to make decisions and you will be sticking to them throughout your way. So either you win or you learn. And this learning will help you to take better decisions. But when you talk about gambling, believe me there is only luck. Luck is dominant over experience.

It is crystal clear that gambling is same that is fully dependent on luck and without a good luck, you cannot win even a single penny in gambling. As far as experience and skills are concerned, their role is zero in gambling. Your gambling experience can never help you in winning the game or quitting it on the right time whereas everything is opposite in trading. Trading is not evil or immoral at all like gambling.

8Habits

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Quote from: Whosdaddy on October 22, 2017, 10:40:35 AM

Quote from: romero121 on October 20, 2017, 10:12:58 PM

Experience helps us make a better money management plan and limit ourselves with the spending. Another thing the continued involvement will help us make better analysis about the events and and make closer predictions. Altogether experience plays 50% while the rest happens on the luck one holds.

I will agree on this. In trading and investments there are skills and experience that matters mostly. You have to make decisions and you will be sticking to them throughout your way. So either you win or you learn. And this learning will help you to take better decisions. But when you talk about gambling, believe me there is only luck. Luck is dominant over experience.

I agree with you mate that we really need to have a plan or price target beforehand executing the trade. So that all you have to do is check your stats and let the auto sell do its wonder and for sure, if you have many more trades, you will get excited in the process.

Whosdaddy

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Quote from: romero121 on October 20, 2017, 10:12:58 PM

Experience helps us make a better money management plan and limit ourselves with the spending. Another thing the continued involvement will help us make better analysis about the events and and make closer predictions. Altogether experience plays 50% while the rest happens on the luck one holds.

I will agree on this. In trading and investments there are skills and experience that matters mostly. You have to make decisions and you will be sticking to them throughout your way. So either you win or you learn. And this learning will help you to take better decisions. But when you talk about gambling, believe me there is only luck. Luck is dominant over experience.

marlboroza

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Quote from: kodes88 on October 21, 2017, 05:37:19 PM

Quote from: marlboroza on October 21, 2017, 05:27:10 AM

Quote from: romero121 on October 20, 2017, 10:12:58 PM

Experience helps us make a better money management plan and limit ourselves with the spending.

No it doesn't.
Your common sense will tell you to limit your money, do you need experience for all your money decisions? Do you need experience when you go to store to buy food and do that experience tells you not to spend all your monthly salary to buy everything you see and like?
When you go to restaurant, do you need experience to or someone to tell you - don't eat lobster because it is too damn expensive?
Please.

Quote from: romero121 on October 20, 2017, 10:12:58 PM

Altogether experience plays 50% while the rest happens on the luck one holds.

From where did you get ~~random~~ this number?

He talks about money management on gambling, not money management to buy food, not money management to go to restaurants, not money management to buy lobsters, it's money management on gambling and that's obviously very much needed, and experience can help us in money management. About when to spend money, when to keep money, experience is very important.

Are you sure about this?
Do you really need experience to gamble only what you can afford to lose?
Money management can be applied to texas holdem which is 88% skill game, when we are talking about casino games which are based on luck good bankroll management doesn't mean shit.

SamsungBitcoin

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Quote from: snedyolo on October 22, 2017, 04:22:38 AM

Quote from: xuan87 on October 04, 2016, 07:13:36 AM

as I know experience is important in some gambling games such as poker, but how about the other games like dice game or roulette, do you gain any advantage from your experience, can you used your experience to win the game? or maybe because of your experience you know whether to bet low or high in dice game

So Does Experience matter to you?

Well I think it does. I mean having experience, you’ll know what to do or where to bet. You will have the idea when to stop. So, for me there are cases where experience matter in gambling.

I think there is an advantage than no experience person, but the winning rate will be the same it always based on luck of people because we.all know that mostly of first timer in gambling are getting huge win at their first day that is why gambling easily lure people to be addicted because it has possibility to make them rich easily.

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Quote from: xuan87 on October 04, 2016, 07:13:36 AM

as I know experience is important in some gambling games such as poker, but how about the other games like dice game or roulette, do you gain any advantage from your experience, can you used your experience to win the game? or maybe because of your experience you know whether to bet low or high in dice game

So Does Experience matter to you?

Well I think it does. I mean having experience, you’ll know what to do or where to bet. You will have the idea when to stop. So, for me there are cases where experience matter in gambling.

Asmonist

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Quote from: xuan87 on October 04, 2016, 07:13:36 AM

as I know experience is important in some gambling games such as poker, but how about the other games like dice game or roulette, do you gain any advantage from your experience, can you used your experience to win the game? or maybe because of your experience you know whether to bet low or high in dice game

So Does Experience matter to you?

Yes. Experience really matter. Experienced people of certain area or particularly in gambling will give them advantage. They already know the phasing and other uncertainties. They have encountered the hardships and they were no longer commit it because they already the outcome. Experience is the best practice.

jatin729

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In gambling Experience matter and there is also luck involved. Behind the online gambling(Bitcoin games, lottery rolling games) always computers are working. So if you experienced in particular thing than you have strategical knowledge about gambling game.
So we can say that without experience you can't make good strategy.

Gotottack

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My answer would be yes and no.

Yes because experience teaches you what is good from what is bad. It is ideal to have experience in every aspect to sharpen your gambling skills. It is something that cannot be bought nor taken away from you.

No because you can do anything even without experience for it is through learning things first-hand that you know what it is in actuality. You have to be a risk-taker and take chances both at winning and losing.

In Bitcoin gambling, being brave - with or without experience - is key.

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Quote from: tyKiwanuka on October 21, 2017, 04:27:10 PM

If you play Roulette, BlackJack, Slots etc. you can be the most experienced and most skilled gambler ever to walk this planet, in the end you will lose. There is no way around it, you simply can't beat these games longterm, it's not possible. Everyone denying that is just delusional.

Yes, that is correct because you don't your opponent skills and that's why you can't win every time play these skill-based games. We should consider gambling as just for entertainment purpose and spend some fixed amount to try our luck and enjoy our free time but don't think that in skill-based games you can make money in the long run.

kodes88

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Quote from: marlboroza on October 21, 2017, 05:27:10 AM

Quote from: romero121 on October 20, 2017, 10:12:58 PM

Experience helps us make a better money management plan and limit ourselves with the spending.

No it doesn't.
Your common sense will tell you to limit your money, do you need experience for all your money decisions? Do you need experience when you go to store to buy food and do that experience tells you not to spend all your monthly salary to buy everything you see and like?
When you go to restaurant, do you need experience to or someone to tell you - don't eat lobster because it is too damn expensive?
Please.

Quote from: romero121 on October 20, 2017, 10:12:58 PM

Altogether experience plays 50% while the rest happens on the luck one holds.

From where did you get ~~random~~ this number?

He talks about money management on gambling, not money management to buy food, not money management to go to restaurants, not money management to buy lobsters, it's money management on gambling and that's obviously very much needed, and experience can help us in money management. About when to spend money, when to keep money, experience is very important.

tyKiwanuka

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#birdgang

If you play Roulette, BlackJack, Slots etc. you can be the most experienced and most skilled gambler ever to walk this planet, in the end you will lose. There is no way around it, you simply can't beat these games longterm, it's not possible. Everyone denying that is just delusional.

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Quote from: CasinoKiller on October 20, 2017, 08:25:44 PM

No, it doesn't! As it is just pure luck, no skill

I disagree with you cause you did not win without an experience, pure luck is not always there. The experience help to decide what will do in the middle of the game. The experience may control the loses and winnings, this is because you have lot of knowledge and you know what will do while you play. Even you win lot of money by pure luck you need also an experience to control your money to avoid losing.

logicgate

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Quote from: romero121 on October 20, 2017, 10:12:58 PM

Experience helps us make a better money management plan and limit ourselves with the spending. Another thing the continued involvement will help us make better analysis about the events and and make closer predictions. Altogether experience plays 50% while the rest happens on the luck one holds.

Indeed! If you are experienced enough in gambling, you will probably understand how much to invest and how to limit the loss. The experienced gamblers have one advantage that they often figure out the correct time of leaving the game, they know well that greed only leads to bankruptcy. The percentage you mentioned is correct or even if we increase the portion of luck that would be again acceptable.

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Quote from: mirakal on October 21, 2017, 06:14:46 AM

Quote from: azguard on October 21, 2017, 05:06:25 AM

Yes experience is the key here in gambling, for this I say from personal experience, and that is sport gambling.
Off course that they are some matches that you dont want to play, but with some experience you will know when is that moment.

Well, experience for me will only help me make the right decision but still I don't really win all the time or even most of the time.
I think your intelligence is still very important as in sports betting you need to analyze well in order to come up with the right prediction, we are handicapping sports in order to win but sometimes we don't based on the facts because we are bias sometimes as we bet on favorites most of the time.

Like you said the experience don't useful for win a game but it will be helpful of how much we can bet and can control the situation by not exciting too much.The unexperienced gambler will bet again and again if he win or lose the experienced will be contended with their win.The experience in casino will help in casino but other betting games only based on luck.

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Quote from: xuan87 on October 04, 2016, 07:13:36 AM

as I know experience is important in some gambling games such as poker, but how about the other games like dice game or roulette, do you gain any advantage from your experience, can you used your experience to win the game? or maybe because of your experience you know whether to bet low or high in dice game

So Does Experience matter to you?

Games with fixed probability ( roulette, dice and others ) are unaffected by a players skill. Actually a players input has "NO" impact on the outcome. On the other hand sports betting is a different situation. The odds set by the bookmaker are based on a number of inputs and those inputs can be interpreted in many ways, also with the amount of markets that bookmakers need to offer these days the chance of the bookie making a mistake is much greater. So with sports betting a punters experience can give him an edge if he is patient.

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Quote from: azguard on October 21, 2017, 05:06:25 AM

Yes experience is the key here in gambling, for this I say from personal experience, and that is sport gambling.
Off course that they are some matches that you dont want to play, but with some experience you will know when is that moment.

Well, experience for me will only help me make the right decision but still I don't really win all the time or even most of the time.
I think your intelligence is still very important as in sports betting you need to analyze well in order to come up with the right prediction, we are handicapping sports in order to win but sometimes we don't based on the facts because we are bias sometimes as we bet on favorites most of the time.

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Quote from: romero121 on October 20, 2017, 10:12:58 PM

Experience helps us make a better money management plan and limit ourselves with the spending.

No it doesn't.
Your common sense will tell you to limit your money, do you need experience for all your money decisions? Do you need experience when you go to store to buy food and do that experience tells you not to spend all your monthly salary to buy everything you see and like?
When you go to restaurant, do you need experience to or someone to tell you - don't eat lobster because it is too damn expensive?
Please.

Quote from: romero121 on October 20, 2017, 10:12:58 PM

Altogether experience plays 50% while the rest happens on the luck one holds.

From where did you get ~~random~~ this number?

Topic: Does experience matter in gambling? - page 21. (Read 39792 times)