Gambling can be profitable in the long run! It is possible! - page 37.

pooya87

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Quote from: tommorisonwebdesign on February 18, 2016, 05:06:17 PM

Everyone in this thread saying gambling makes them money are only fooling themselves. Are you guys accounting for the losses versus the wins? I'm sure if you add everything up you've lost more than won. You may as well do binary options, at leas you have some prediction.

i agree. gambling is not a way of making money at all.

it is possible to make money through gambling though, since it is a game of chance it would be like winning a lottery and getting rich. but it is based on luck so you cant count on it.

besides those professional gamblers who are making money through gambling are seasoned players of games they can control like Poker and they play it face to face and not online

uname

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i think everythink that have big risk. not suitable to be used as a job or income for the long term

futurebit640

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Quote from: tommorisonwebdesign on February 18, 2016, 05:06:17 PM

Everyone in this thread saying gambling makes them money are only fooling themselves. Are you guys accounting for the losses versus the wins? I'm sure if you add everything up you've lost more than won. You may as well do binary options, at leas you have some prediction.

Gambling is not meant for long term profits because if any one play for long term as you said they will lose more than winning but it is meant for some fun and entertainment purpose so it good to gambling only some times than gambling regularly.

Alvin Fahriza

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Quote from: TwitchySeal on February 18, 2016, 06:13:29 PM

Quote from: tommorisonwebdesign on February 18, 2016, 05:06:17 PM

Everyone in this thread saying gambling makes them money are only fooling themselves. Are you guys accounting for the losses versus the wins? I'm sure if you add everything up you've lost more than won. You may as well do binary options, at leas you have some prediction.

Binary options...also gambling.

yeah binary is gambling dude. you can not predict the price with a very short time

TwitchySeal

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Quote from: tommorisonwebdesign on February 18, 2016, 05:06:17 PM

Everyone in this thread saying gambling makes them money are only fooling themselves. Are you guys accounting for the losses versus the wins? I'm sure if you add everything up you've lost more than won. You may as well do binary options, at leas you have some prediction.

Binary options...also gambling.

tommorisonwebdesign

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Everyone in this thread saying gambling makes them money are only fooling themselves. Are you guys accounting for the losses versus the wins? I'm sure if you add everything up you've lost more than won. You may as well do binary options, at leas you have some prediction.

rizkyhiw

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Quote from: Bitcoinbro on February 18, 2016, 04:49:59 PM

Its true that it can be profitable on a long term but what you do not have to forgot is that its always a risk that your are taking.
Plus it also depends how you bet on certain games, because everyone plays a bit different.

gambling is about taking risk, they will not gamble if dont want to risk something so everyone would not forget about that.
as long as you have unlimited bankroll, gambling will make you profit in very very long time.
if you have a small bankroll well don't expect having profit in long term.

Bitcoinbro

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Its true that it can be profitable on a long term but what you do not have to forgot is that its always a risk that your are taking.
Plus it also depends how you bet on certain games, because everyone plays a bit different.

TwitchySeal

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Quote from: darkangel11 on February 18, 2016, 02:26:30 PM

Quote from: TwitchySeal on February 18, 2016, 12:05:03 PM

Quote from: RealBitcoin on February 18, 2016, 11:55:05 AM

Quote from: TwitchySeal on February 18, 2016, 08:10:27 AM

(I could easily be a billion or so off somewhere)

Nobody gambles a billion dollar. Or have a billion simulations.

Most of us wont even have 5000 in total, so the sample size is too big.

Nobody reaches long run. Which is why we have to use math.

The bigger and bigger the sample size gets, the closer and closer the result will be to our theoretical value. Bigger sample size = More accurate.

THey do. Long run is the time not the money. You can bet $1 a day for a year and call it a long run.

So whats the minimum long run then?

Can they bet $1 a day for 6 months and call it a long run?

a week?

2 days?

darkangel11

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Quote from: TwitchySeal on February 18, 2016, 12:05:03 PM

Quote from: RealBitcoin on February 18, 2016, 11:55:05 AM

Quote from: TwitchySeal on February 18, 2016, 08:10:27 AM

(I could easily be a billion or so off somewhere)

Nobody gambles a billion dollar. Or have a billion simulations.

Most of us wont even have 5000 in total, so the sample size is too big.

Nobody reaches long run. Which is why we have to use math.

The bigger and bigger the sample size gets, the closer and closer the result will be to our theoretical value. Bigger sample size = More accurate.

THey do. Long run is the time not the money. You can bet $1 a day for a year and call it a long run.

KakaoCZ

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Oh. its looks pretty cool but i think its very risky... But good luck to you guys

TwitchySeal

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Quote from: RealBitcoin on February 18, 2016, 11:55:05 AM

Quote from: TwitchySeal on February 18, 2016, 08:10:27 AM

(I could easily be a billion or so off somewhere)

Nobody gambles a billion dollar. Or have a billion simulations.

Most of us wont even have 5000 in total, so the sample size is too big.

Nobody reaches long run. Which is why we have to use math.

The bigger and bigger the sample size gets, the closer and closer the result will be to our theoretical value. Bigger sample size = More accurate.

el kaka22

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If we take less risk, then the chances of getting wiped out all over money in gambling is very less. Because getting out of gambling is most common among gamblers that must be avoided for sticking with gambling to make some profit at least in long run.

RealBitcoin

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Quote from: TwitchySeal on February 18, 2016, 08:10:27 AM

(I could easily be a billion or so off somewhere)

Nobody gambles a billion dollar. Or have a billion simulations.

Most of us wont even have 5000 in total, so the sample size is too big.

Bitcoinbro

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Gambling can be profitable, but it has a many downsides if you gamble long term.
The first downside is that you will get addicted to gambling for sure, the second is that you will mostly lose everything because you need real luck..

Nahl

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Quote from: lolnabtc on February 14, 2016, 04:05:03 AM

It is possible, but you need a very good skill and mainly 'LUCK' Cheesy

i had main problem during did a gamble and that's is about my luck because everytime i was thought i'm luck but unfortunately this luck in fact almost be stay away from me

TwitchySeal

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Quote from: maku on February 18, 2016, 09:24:03 AM

Quote from: Altynbekova on February 18, 2016, 09:16:01 AM

Its of course possible to have profit on a long term, but most likely the people will not make profit at all by it.
At gambling you always need luck and the most people do not have this luck so you will lose money.

You are contradicting your own words. It is as you said - gambling=some random occurrences, you don't have influence over, therefore outcome can't be predicted or controlled.
You can be lucky for a short period of time and profit, you can probably be almost even for a longer periods. But in the end you only can diminish the losses while gambling everyday.

You just contradicted your own words after explaining how he contradicted his!

Quote

therefore outcome can't be predicted

Then you predict one can only lose

Quote

n the end you only can diminish the losses

Gambling does not exclusively apply to making bets with negative expectation.

If a gambler is able to manage his money properly and find enough bets where the edge is in his favor, at the end of his life he will be profitable. Even though he may have had a couple losing years...

maku

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Quote from: Altynbekova on February 18, 2016, 09:16:01 AM

Its of course possible to have profit on a long term, but most likely the people will not make profit at all by it.
At gambling you always need luck and the most people do not have this luck so you will lose money.

You are contradicting your own words. It is as you said - gambling=some random occurrences, you don't have influence over, therefore outcome can't be predicted or controlled.
You can be lucky for a short period of time and profit, you can probably be almost even for a longer periods. But in the end you only can diminish the losses while gambling everyday.

Altynbekova

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Its of course possible to have profit on a long term, but most likely the people will not make profit at all by it.
At gambling you always need luck and the most people do not have this luck so you will lose money.

TwitchySeal

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OPs Example was for one day

But his Topic said "long run"

The long run will never be reached, but 1,000,000 days is closer than 1:

If this 1,000,000 day simulation were run 1,000,000 times, the chance of either player group winning one single time is less than is less than 900,000,000,000:1

So you would have to run ( 1 million simulations 1 million times ) ~900,000,000,000 times for a 50% chance of either group finishing a 1 million day simulation winning 1 or more pennies.

(I could easily be a billion or so off somewhere)

Topic: Gambling can be profitable in the long run! It is possible! - page 37. (Read 37356 times)