Gambling can be profitable in the long run! It is possible! - page 48.

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Quote from: xuan87 on January 06, 2016, 06:24:46 AM

as far as i know it is impossible, your theory maybe work on few people but i dont think its work on everyone

if its work to everyone , we wont see any casino today

Correct, the theory is as true as the number of lucky winners in a casino who hit a jackpot,like one in 10 thousand? Similarly ,gambling can be profitable in the long run but just for few in thousands.

xuan87

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as far as i know it is impossible, your theory maybe work on few people but i dont think its work on everyone

if its work to everyone , we wont see any casino today

Xmaseven

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nice to read this strong and simple analysis.
thank you!!! Grin

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Quote from: foggyb on January 05, 2016, 06:45:47 PM

Quote from: FrostStick on November 14, 2015, 04:50:36 PM

It is possible that your winning streak will continue infinitely but the chances are very, very, very slim.

No it is not possible because there is no such thing as an actual infinity in this universe. There is a limit to every physical attribute to the universe.

But it's enough to win 1 time the jackpot, and you dont need to gamble infinite times to do it.

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Quote from: takingthis4 on January 05, 2016, 01:38:28 PM

gambling can be profitable in a very long run but i doubt that it can be profitable for all your gambling career as gambling websites have house edge what will not you allow to earn vast amounts of money, believe me i have experience with it

It depends of the game if you a poker player you should know it. Because playing poker needs to think much before you make a move.
So it takes a long time to win and make a profit.. but if you play dice game you will be lose in long run they are different..

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Quote from: FrostStick on November 14, 2015, 04:50:36 PM

It is possible that your winning streak will continue infinitely but the chances are very, very, very slim.

No it is not possible because there is no such thing as an actual infinity in this universe. There is a limit to every physical attribute to the universe.

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The op shows this well although winners one day losers the next and I think this is what keeps us coming back for more

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gambling can be profitable in a very long run but i doubt that it can be profitable for all your gambling career as gambling websites have house edge what will not you allow to earn vast amounts of money, believe me i have experience with it

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Quote from: fravia on January 05, 2016, 11:40:45 AM

well it can be profitable in a very long run if you will be lucky enough every time gambling but beating the house edge is impossible and no one has ever did it, if it was possible everyone would beat casinos and it wouldnt make any good profit

Other than luck, in long run one must learn and develop some strategies to make some own way of profit making out one particular gambling. Then it's possible to have gambling profitable in long run. Otherwise long run or short run gambling is always risk for our bankroll.

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well it can be profitable in a very long run if you will be lucky enough every time gambling but beating the house edge is impossible and no one has ever did it, if it was possible everyone would beat casinos and it wouldnt make any good profit

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Quote from: blackmachinegun on January 05, 2016, 10:20:10 AM

Quote from: zecexe on January 05, 2016, 02:08:35 AM

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

by taking a greater risk of course you will get a big profit, you must have the courage to take that chance,
it can beat the house

There is no way this title can be sustained.
Remember more risk means a bigger reward but it means your chance to lose 100% of you bet too.

blackmachinegun

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Quote from: zecexe on January 05, 2016, 02:08:35 AM

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

by taking a greater risk of course you will get a big profit, you must have the courage to take that chance,
it can beat the house

Dennis7777

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Quote from: RealBitcoin on January 05, 2016, 08:17:42 AM

-snip-
With these 2 infos, you can play lottery with positive expectancy!

There is an easier way for you to be able to play lottery with a positive expected value: Learn the existence of Pevpot.com. Its thread is https://bitcointalksearch.org/topic/introducing-pevpotcom-the-bitcoin-lottery-1243970

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Ok this example is just on top of my mind.

Imagine a lottery with 10 numbers, and you have 1 number that get's you the jackpot. So the odds of winning the jackpot is 10%.

Every person can buy as many tickets as he wants and each ticket costs 0.1BTC.

So 20 people bought 20 tickets, and nobody guessed the lucky number so far, and the prize is now 2BTC.

Comes the 21 guy who buys the 21th ticket he risks 0.1BTC to win 2BTC with the probability of 10%. HE HAS A POSITIVE EXPECTANCY!

His expectancy is 0.11, so therefore this can be profitable for him.

The only info is needed is the lottery to announce when and if there is any winner at the moment (so that the winner knows if his prize will be shared with someody), and the total prize amount. With these 2 infos, you can play lottery with positive expectancy!

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Quote from: jt byte on January 05, 2016, 08:04:55 AM

Quote from: zecexe on January 05, 2016, 02:08:35 AM

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

It's possible but in no way it's a sustainable concept to earn/profit on the long term.
At best you lose your winnings and end up break-even.

For most gamblers this is a utopia though.

Or you win the jackpot and break even, and earn a big prize on top of that.

Imagine a lottery, the risk is fixed and the same every time, because the rules of the game are the same.

However the reward is different based on how big the jackpot is, so it's theoretically possible to have a lottery with a positive expectancy.

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Quote from: zecexe on January 05, 2016, 02:08:35 AM

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

It's possible but in no way it's a sustainable concept to earn/profit on the long term.
At best you lose your winnings and end up break-even.

For most gamblers this is a utopia though.

RealBitcoin

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Quote from: zecexe on January 05, 2016, 02:08:35 AM

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

That is what it is about isnt it, taking risk to earn reward.

diodio5

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Quote from: zecexe on January 05, 2016, 02:08:35 AM

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

yes true because gambling is about daring to take risks, if you do not take risks, I'm sure you would not be profitable and losing

zecexe

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In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

RealBitcoin

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Quote from: BTCevo on November 20, 2015, 11:54:43 AM

Quote from: Opnsrc on November 19, 2015, 10:04:40 AM

I would like someone to break down the psychology and logic of the following.

Via gambling,
I can & have turned $1 into $2 over and over again.
But I can not & have not ever been able to turn $100 into $200 using the same methods and logic scaled on a Percentage base.

This conundrum boggles my mind.

(If any common logic is missing from this short comment, assume it was included.)

I can say that with $1 you have no risk to make it to $2, although you lose it that is not much you can easily get it back but with $100 It will be hard because you need more balance to try to recover it and it will be like burden to you to earn that back, all gambling things is just depends on luck whether $1 or $100 the percentage of winning is still the same

yes, that is my point that luck is the only variable, and that means that its possible, not an impossible event.

And the probability is fairly generous, about 49% that you will end up winner in the long term. So if half of the population gambles half will be winner ,and half will be loser. The casino will take only 1% comission for this wealth redistribution.

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