Author

Topic: Everyone looses in the long run - page 126. (Read 96775 times)

legendary
Activity: 2436
Merit: 1561
October 25, 2015, 05:08:07 PM
No, not everyone loses in the long run.

There are, have been and continue to be many, many poker players out there who, in fact, win in the long run - from professional players  to semi-pro and even amateur. There are many, many poker players who profit long term in different degrees from micro-stakes all the way up to the nose-bleeds.

True, there are countless long term losers, but to say everyone loses in the long run is just incorrect.

You are referring to poker, which is often considered a game of skill rather than gambling. But agree with you, not everyone loses in the long term.

Ps @OP, in case no one pointed it out - it's spelled "loses" not "looses".
hero member
Activity: 560
Merit: 500
October 25, 2015, 03:46:53 PM
Get back what and with a new strategy called lucky?Look im not pessimist but what is gone is gone to recover it need lucky and well sometimes it stands far away from us .
legendary
Activity: 1638
Merit: 1046
October 25, 2015, 03:15:03 PM
JUst lost up 1.7 btc going in long run in betcoin.ag dice....damn  Cry
lol What strategy betting do you do dice game is nice if you have a very wise decision to bet... you can win it back....
legendary
Activity: 1512
Merit: 1000
October 25, 2015, 03:00:12 PM
No, not everyone loses in the long run.

There are, have been and continue to be many, many poker players out there who, in fact, win in the long run - from professional players  to semi-pro and even amateur. There are many, many poker players who profit long term in different degrees from micro-stakes all the way up to the nose-bleeds.

True, there are countless long term losers, but to say everyone loses in the long run is just incorrect.
legendary
Activity: 2436
Merit: 1561
October 25, 2015, 12:13:19 PM
Everyone loses in the long run...

If you have 1,000,000 BTC and bet on a dice site using 1 satoshi doing the martingale strat, It can be pretty profitable xD

Having 1m of bitcoin is irrelevant, as there is no dice site that would accept bet that high (insufficient bankroll).
Also, betting martingale with 1 sat base would likely give you less profit than electricity costs. Counting at 1 sat per second (very optimistic), that's entire 25 cents per 24 hours.

If you have a large bankroll and dice with a small start, you'll be most likely to make profit. Even though it might not be much, the percentage of zeroing out with that big a bankroll is statistically zero.

Again, having BTC1 million means nothing, max bet allowed on the site is what counts.

hero member
Activity: 560
Merit: 500
October 25, 2015, 12:10:28 PM
Not everyone the fact is that the dice and casinos were made to make profit not to give you all ,soo if in a day 200 btc in around 2 btc stands at the website and the rest is shared with the lucky members.
hero member
Activity: 847
Merit: 500
October 25, 2015, 11:47:57 AM
Everyone loses in the long run...

If you have 1,000,000 BTC and bet on a dice site using 1 satoshi doing the martingale strat, It can be pretty profitable xD

Having 1m of bitcoin is irrelevant, as there is no dice site that would accept bet that high (insufficient bankroll).
Also, betting martingale with 1 sat base would likely give you less profit than electricity costs. Counting at 1 sat per second (very optimistic), that's entire 25 cents per 24 hours.

If you have a large bankroll and dice with a small start, you'll be most likely to make profit. Even though it might not be much, the percentage of zeroing out with that big a bankroll is statistically zero.
legendary
Activity: 2436
Merit: 1561
October 25, 2015, 11:42:19 AM
Everyone loses in the long run...

If you have 1,000,000 BTC and bet on a dice site using 1 satoshi doing the martingale strat, It can be pretty profitable xD

Having 1m of bitcoin is irrelevant, as there is no dice site that would accept bet that high (insufficient bankroll).
Also, betting martingale with 1 sat base would likely give you less profit than electricity costs. Counting at 1 sat per second (very optimistic), that's entire 25 cents per 24 hours.
hero member
Activity: 1148
Merit: 528
October 25, 2015, 11:36:43 AM
JUst lost up 1.7 btc going in long run in betcoin.ag dice....damn  Cry

Why dont you manually bet when you have 1.7 btc? At least you can earn some when you are on manually rather than leaving it with bot and let it run all day long

hmmm..... didnt knew that .....will bet manually from next time.....thanks for the advice Smiley
legendary
Activity: 1078
Merit: 1000
October 25, 2015, 04:27:37 AM
JUst lost up 1.7 btc going in long run in betcoin.ag dice....damn  Cry

Why dont you manually bet when you have 1.7 btc? At least you can earn some when you are on manually rather than leaving it with bot and let it run all day long
member
Activity: 136
Merit: 10
October 25, 2015, 03:14:21 AM
Everyone loses in the long run...

If you have 1,000,000 BTC and bet on a dice site using 1 satoshi doing the martingale strat, It can be pretty profitable xD
hero member
Activity: 1148
Merit: 528
October 25, 2015, 03:03:53 AM
JUst lost up 1.7 btc going in long run in betcoin.ag dice....damn  Cry
legendary
Activity: 1134
Merit: 1000
October 25, 2015, 02:54:15 AM
If you are betting against the spread at a reduced margin venue the prices might be -105/-105 (1.95/1.95).  This means if you were to bet $1 sometimes you would win $0.95 and sometimes you would lose $1.  You would need to win 51.3% of the time to break even in the long run.

Good calculations. Even more. Fantastic calculations. Could you show me the literature for this kind of calculations in order that me learn more? In which kind of books I can find more about these kind of things? Are very interesting and even more precise than the calculations of the position of an new star. Even I don't understand anything from those.

Ah.. One moment. You bet 1 us dollar and sometime would win 0.95 us dollar and some time would lose 1 us dollar. Then "you would need to win 51.3% (not 47.53464% nor 56.975645345% but exactly 51.3%) to break even in the long run.

In other words. You will play to lose more that the amount you can win: in other words, simply to lose. Then, in order that you break even (in other words and for the ignorant people like me - to have your lost money) "you would need to win 51.3% of the time". Here I'm am speechless. I learned before how to lose firstly (difficult but important and necessary), then the need to break even (so to have again my money back) but then I stopped to understand. How to earn "51.3 of the time"? How can be earned the time?

Please mr.robot can you explain better how to win 51.3% of the time to have back my money? And if I win 51.4% or even 51.5675432% of time it will be something wrong? Only to have some cent as earnings for the time have in casino. Or it is impossible? In that place only can have loss and maximum have your money. No win never. This is not the casino I know....
sr. member
Activity: 420
Merit: 250
October 25, 2015, 02:33:02 AM
For me it depends on your luck. If you lose in long run it will never change it because it depends in your luck.
yes it depends on luck but the percentage is quite negligible when it comes to longer sessions ,as the presence house edge is going to kill it because you cant have luck in the long runs.
newbie
Activity: 27
Merit: 0
October 24, 2015, 06:59:33 PM
If you are betting against the spread at a reduced margin venue the prices might be -105/-105 (1.95/1.95).  This means if you were to bet $1 sometimes you would win $0.95 and sometimes you would lose $1.  You would need to win 51.3% of the time to break even in the long run.
klf
legendary
Activity: 1344
Merit: 1000
October 24, 2015, 06:57:11 PM
It really depends on the type of poker game you are playing, who you are playing against and your skill level. I have heard even professional poker players like Chris Money Maker typically have anything or nothing, and always run the opportunity of going bankrupt.

That is very true, in gambling no one or any professional player can't win for long time or in the long run because even though some games need skills to win but when one play any game to win they also need some kind of luck to support them so this luck will not come every day or every time one play a game. So it is quite clear no one can win any game every day so do not gamble every day to save your self.
legendary
Activity: 2716
Merit: 1116
October 24, 2015, 06:13:28 PM
Some professional players do not need to take a lot % from their bankroll to earn big money.

You need to see how professional truly play. I recommend you to take a look at the pro WSOP player. They are playing huge and only play at GTD or tournament and rarely ring games. The buy in for GTD is usually 4 digits in USD and that is a lot for average person , the game end after hours and most are really great and sometimes the unexpected happens like when someone think that he wins with full house but suddenly beaten by four of a kind

There are in fact professional gamblers, guys who are expert in mathematical principles  Grin
hero member
Activity: 966
Merit: 501
October 24, 2015, 10:00:24 AM
For me it depends on your luck. If you lose in long run it will never change it because it depends in your luck.

Yes agreed with you that it totally depends on your luck, if you have lucky enough then you can win even in short time but if you are not lucky then there are many chances to loose the whatever money you have in the log run.
legendary
Activity: 1988
Merit: 1317
Get your game girl
October 24, 2015, 08:52:37 AM
It really depends on the type of poker game you are playing, who you are playing against and your skill level. I have heard even professional poker players like Chris Money Maker typically have anything or nothing, and always run the opportunity of going bankrupt.

Agree with you we should be aware of whom we're playing it .But online games doesn't need that kind of understanding as you cant really be sure of whats happening in the backend with the cards .You know all these algorithms are highly advanced and they can program it the way they want.I've always been unsure of playing poker online with random strangers .All these technical stuff is just too insecure .You can play casino or dice or whatever they seem truly based on luck.
legendary
Activity: 1134
Merit: 1000
October 24, 2015, 07:21:51 AM
I read some people were saying professional gamblers never loose as they are sponsored by others.If we put very small percentage of professional gamblers away and talk about usual and normal gamblers then my answer is clear that everyone looses in the long run .

First of all there are not any kind of profession in "doing" gambling. So no one can be professional in something that is not a profession. But even if there is something that can be called "profession" in gambling (which can be the place of staying all the day within a casino or gambling online - again all the day - for those who have  nothing - or don't know what - other to do and have tons of money to spend) there can be never "professionalism" in this kind of "profession". Gambling cannot be learned and it is impossible to learn something from or about it even if everyone stay with during all its life applying it.

Then what does it mean "never loose as they are sponsored by others". My brain understand this sentence in this way. They ("the professionals") gamble always and lose but don't lose their money but the money of the others (sponsors). If so where is the "professionalism" here? In losing the money of the others? Or simply in the loss of money ongoing?

But for sure the author of the post mean another thing with this sentence. Maybe he wanted to tell that they earn because are sponsored by the others. This is another thought without sense. It is the sponsorship that condition the earnings? This seems strange for me. What have in common the give of money with the gamble of those? Why the first act must affect the second one?

Maybe because someone thing that having to much and gambling to much money it is sure the win in it. This is a pure fantasy. Have nothing true in this. It is only the luck who decide. You can win the jackpot with 1 us dollar and loss even your home within a day. Have nothing to do the amount of money gambled with the probability to win. Especially in long term as can be deducted from the quoted post.

The probability to win is always (especially in medium and long term) for the owners of the casino or the online gamble site. Nothing can change this elementary but basic and unchanged rule. Everyone which gamble will have always loss. Being him a "professional" gambler or a novice one.
Jump to: