Gambling can be profitable in the long run! It is possible! - page 34.

Superhitech

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Quote from: Alvin Fahriza on February 22, 2016, 07:30:45 PM

Quote from: jacee on February 22, 2016, 07:18:28 PM

I think big bankroll saves you from loosing. I mean if you are betting small amounts then if you have the right strategy and a bigger bankroll to sustain a longer betting time then for some reason I think mirtangle will work at some point and if you are luvky and you bet big you can recover all your loses. I think it's a matter of luck still. Without luck you will be a gonner. Cheesy

Oh well, can i say if bankroll avoid the defeat and made me win, then how many bitcoin, to be called big bankroll?

A big bankroll is generally something that is much bigger than your starting bet, and can sustain if you use martingale, etc.

For example, if you only bet 1 bit at a time, 100 bits is a "big bankroll" as you'd have to bet 100 times to lose your bankroll. However, if you combined this with martingale, you'd probably need a bigger bankroll than 100 bits as the amount you need to bet multiplies fast.

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Quote from: jacee on February 22, 2016, 07:18:28 PM

I think big bankroll saves you from loosing. I mean if you are betting small amounts then if you have the right strategy and a bigger bankroll to sustain a longer betting time then for some reason I think mirtangle will work at some point and if you are luvky and you bet big you can recover all your loses. I think it's a matter of luck still. Without luck you will be a gonner. Cheesy

Oh well, can i say if bankroll avoid the defeat and made me win, then how many bitcoin, to be called big bankroll?

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Quote from: jacee on February 22, 2016, 07:18:28 PM

Quote from: DeDordtenaar on February 22, 2016, 07:11:56 PM

Quote from: 23dzmaz on February 22, 2016, 10:14:38 AM

It''s really possible imo. Especially if you have big bankroll, not greedy and have a good mentality. I mean not rage and doubling or more your bets when you losing your bets.

big amount just give you chance for make more big lost. what is the advantages for big banroll can hel profitable long run ?

I think big bankroll saves you from loosing. I mean if you are betting small amounts then if you have the right strategy and a bigger bankroll to sustain a longer betting time then for some reason I think mirtangle will work at some point and if you are luvky and you bet big you can recover all your loses. I think it's a matter of luck still. Without luck you will be a gonner. Cheesy

You're right.

More money = more bets

more best = bigger sample size = closer to "long run"

As long as you have the edge.

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Quote from: DeDordtenaar on February 22, 2016, 07:11:56 PM

Quote from: 23dzmaz on February 22, 2016, 10:14:38 AM

It''s really possible imo. Especially if you have big bankroll, not greedy and have a good mentality. I mean not rage and doubling or more your bets when you losing your bets.

big amount just give you chance for make more big lost. what is the advantages for big banroll can hel profitable long run ?

I think big bankroll saves you from loosing. I mean if you are betting small amounts then if you have the right strategy and a bigger bankroll to sustain a longer betting time then for some reason I think mirtangle will work at some point and if you are luvky and you bet big you can recover all your loses. I think it's a matter of luck still. Without luck you will be a gonner. Cheesy

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Quote from: 23dzmaz on February 22, 2016, 10:14:38 AM

It''s really possible imo. Especially if you have big bankroll, not greedy and have a good mentality. I mean not rage and doubling or more your bets when you losing your bets.

big amount just give you chance for make more big lost. what is the advantages for big banroll can hel profitable long run ?

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Quote from: RealBitcoin on February 22, 2016, 05:46:56 PM

Actually it's 49 - 51 isnt it?

51-49=2

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Quote from: TwitchySeal on February 22, 2016, 10:07:50 AM

Quote from: RealBitcoin on February 22, 2016, 09:33:30 AM

So after 2500, bets you`d have a 0.00036116184612908900% chance of ending up at least break even.

That means that in a pool of 1 million players we`d have on average 361 players that would end up winners after the 2500 bets!

If the house edge is 1% then we are winning 49.5% and losing 50.5%

(these slot machines are the same as flipping a coin, btw)

Playing 6 hours a day every day for a year for a total of 2500 bets then we would be making less than 1 bet an hour.

This is not a big sample size, and these "coin flip" type bets are very low variance.

But, here are the results: (I did 10,000 instead of 1 million bc it takes a while to do 1million.)

So 10,000 players each made 2500 $100 bets. They won 49.5% and lost 50.5%

The theoretical expectation is that 3,405 players will be ahead after 2500 bets.

Actually it's 49 - 51 isnt it?

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It''s really possible imo. Especially if you have big bankroll, not greedy and have a good mentality. I mean not rage and doubling or more your bets when you losing your bets.

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Quote from: RealBitcoin on February 22, 2016, 09:33:30 AM

So after 2500, bets you`d have a 0.00036116184612908900% chance of ending up at least break even.

That means that in a pool of 1 million players we`d have on average 361 players that would end up winners after the 2500 bets!

If the house edge is 1% then we are winning 49.5% and losing 50.5%

(these slot machines are the same as flipping a coin, btw)

Playing 6 hours a day every day for a year for a total of 2500 bets then we would be making less than 1 bet an hour.

This is not a big sample size, and these "coin flip" type bets are very low variance.

But, here are the results: (I did 10,000 instead of 1 million bc it takes a while to do 1million.)

So 10,000 players each made 2500 $100 bets. They won 49.5% and lost 50.5%

The theoretical expectation is that 3,405 players will be ahead after 2500 bets.

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It is possible, but you need to be very very lucky. You have a higher chance that you lose more money than you win money, so that wont be good.
Most people lose so much money that they are becoming poor.

And that is not good, they realize it too late.

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Quote from: TwitchySeal on February 22, 2016, 03:56:10 AM

I wouldn't be so sure about that.
How much are they actually betting , and how volatile are the slot machines? (The less variance, the more likely none of them will be a winner after playing for ~2,000 hours.

Math tells us about what is likely or unlikely to happen next.

Luck is a way to describe what has already happened.

Ok math fine.

What is the probability of ending up 0 or winner after 2500 bets? Thats how much you would be in 1 say year.

Well if the slot machine has a hose edge of 0.5%, then each bet is 49.5% chance of winning. However you have a 99.5% chance of shuffling the money around and not giving it to the casino. So if there would be no house edge you would have a 100% chance of ending up breakeven in infinity, but in our logic the house edge is what drains away our money

So after 2500, bets you`d have a 0.00036116184612908900% chance of ending up at least break even.

That means that in a pool of 1 million players we`d have on average 361 players that would end up winners after the 2500 bets!

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Quote from: RealBitcoin on February 22, 2016, 03:37:22 AM

Quote from: coinplus on February 22, 2016, 03:07:44 AM

Quote from: lixer on February 22, 2016, 01:30:04 AM

I believe gambling can not be profitable even in long run.
It is not at all possible to develop your skills against the bots. May be profitable if you play against another player. You can beat another gambler but not definitely a gambling bot.

You are never playing against a gambling bot lol, rather you are playing against a site whose bankroll is too big to be won and yours is too small to be kept away from loosing. I see people martingale and laugh at them, because they are having small bankroll yet they think they can win the big bankroll of the site.

Martingale is just plain stupid, you cannot use it anyway because they have betting size limits.

And its also a foolish strategy because your risk always increases.

Even your risk increases with every loosing bet, you will be able to recover all your losses with one winning bet. I have tried Martingale with my manual dice gambling, it is highly profitable for me, but not with my automated dicing.

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Quote from: voztata on February 22, 2016, 08:51:05 AM

Quote from: RealBitcoin on February 22, 2016, 03:37:22 AM

Quote from: coinplus on February 22, 2016, 03:07:44 AM

Quote from: lixer on February 22, 2016, 01:30:04 AM

I believe gambling can not be profitable even in long run.
It is not at all possible to develop your skills against the bots. May be profitable if you play against another player. You can beat another gambler but not definitely a gambling bot.

You are never playing against a gambling bot lol, rather you are playing against a site whose bankroll is too big to be won and yours is too small to be kept away from loosing. I see people martingale and laugh at them, because they are having small bankroll yet they think they can win the big bankroll of the site.

Martingale is just plain stupid, you cannot use it anyway because they have betting size limits.

And its also a foolish strategy because your risk always increases.

You are right, even most sites have limit around 10 BTC and I am not sure anyone would be doing martingale with 10 BTC in a single bet. Yes, though it is highly foolishness that people call martingale as one of the best strategies though it is not.

regardless of your capital or above 100 BTC if using the martingale nonetheless it is not a good strategy. I prefer single bet and it's better if you have a big capital.

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Quote from: RealBitcoin on February 22, 2016, 03:37:22 AM

Quote from: coinplus on February 22, 2016, 03:07:44 AM

Quote from: lixer on February 22, 2016, 01:30:04 AM

I believe gambling can not be profitable even in long run.
It is not at all possible to develop your skills against the bots. May be profitable if you play against another player. You can beat another gambler but not definitely a gambling bot.

You are never playing against a gambling bot lol, rather you are playing against a site whose bankroll is too big to be won and yours is too small to be kept away from loosing. I see people martingale and laugh at them, because they are having small bankroll yet they think they can win the big bankroll of the site.

Martingale is just plain stupid, you cannot use it anyway because they have betting size limits.

And its also a foolish strategy because your risk always increases.

You are right, even most sites have limit around 10 BTC and I am not sure anyone would be doing martingale with 10 BTC in a single bet. Yes, though it is highly foolishness that people call martingale as one of the best strategies though it is not.

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Quote from: jacee on February 22, 2016, 08:33:21 AM

Gambling can only be profitable for those who knows how to play.
There are people who actually take gambling so seriously that they will be more than willing to risk all that they have to take profit from gambling but I hardly see people who successfully did it. They may win some but as far as I can see the percentage of loses are still greater.

You got right mate

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Gambling can only be profitable for those who knows how to play.
There are people who actually take gambling so seriously that they will be more than willing to risk all that they have to take profit from gambling but I hardly see people who successfully did it. They may win some but as far as I can see the percentage of loses are still greater.

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Quote from: coinplus on February 22, 2016, 03:07:44 AM

Quote from: lixer on February 22, 2016, 01:30:04 AM

I believe gambling can not be profitable even in long run.
It is not at all possible to develop your skills against the bots. May be profitable if you play against another player. You can beat another gambler but not definitely a gambling bot.

You are never playing against a gambling bot lol, rather you are playing against a site whose bankroll is too big to be won and yours is too small to be kept away from loosing. I see people martingale and laugh at them, because they are having small bankroll yet they think they can win the big bankroll of the site.

Very right, but I do not agree with the second part. See gambling is all luck based thing and hence if you are lucky and doing martingale you may end up winning good part of site's bankroll. So, nothing as bad in that from my point of view.

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are you guys all the same person talking to yourself?

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Quote from: Hashminers on February 22, 2016, 07:46:31 AM

Quote from: darewaller on February 22, 2016, 05:37:53 AM

Quote from: VegasCasinoBits on February 22, 2016, 02:49:10 AM

for now i have a profit on 0.23 btc by gambling, so yes its possible but its still risky you don't know about you lose the next bet,

Yes and thats where the long term came into play, I am sure if you bet too long then surely will end up on the loosing side. But well, some people never understand and not get happy with short term wins so often than they should not.

You are right, many people think they can win big when they are gambling but this is not true at all.
They will lose all their money at the end and also getting addicted in the most cases because they want to win their money back what is not gonna happen.

That is certainly true. But gambling is also having a positive impact although the negative effects much more than positive impact. It can be minimized negative impact as small as possible, with the way you have to have a strategy and a good thought. If you have it, the defeat is merely a wishful thinking for you and the triumph of the real thing for you.

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Quote from: darewaller on February 22, 2016, 05:37:53 AM

Quote from: VegasCasinoBits on February 22, 2016, 02:49:10 AM

for now i have a profit on 0.23 btc by gambling, so yes its possible but its still risky you don't know about you lose the next bet,

Yes and thats where the long term came into play, I am sure if you bet too long then surely will end up on the loosing side. But well, some people never understand and not get happy with short term wins so often than they should not.

You are right, many people think they can win big when they are gambling but this is not true at all.
They will lose all their money at the end and also getting addicted in the most cases because they want to win their money back what is not gonna happen.

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