Gambling can be profitable in the long run! It is possible! - page 51.

RealBitcoin

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Quote from: mamahdedeh on November 17, 2015, 04:30:11 AM

I think gambling will not provide full-time jobs. The only job leisure.

Who said here anything about full time jobs?

I was only saying that you can be profitable if you are lucky. It all depends on luck.

You can win big once, or you win small for longer, but the same goes for losing too.

This is what differentiates losers from winners:

MR.Seller

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Quote from: UnknownUsername on November 16, 2015, 08:01:49 PM

Gambling in the long run is possible if you have unlimited money because someday you're going to face a losing streak..
besides the house edge will gonna chew on your profits slowly.

C'mon even if you had 1k btc you can just lose those in minutes.

Sir, I think their some cases that you don't know ? I won 0.003 satoshi right now and I only use the free faucet which is amount of 200 satoshi only. It depends on how you play. I can say we can win gambling and its possible to profitable in long run. If your to hot to play gambling so better luck next time. But we can say patience is a virtue if you have that to the gambling then its gonna be change. try to play without losing your own money.

mamahdedeh

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www.cd3d.app

I think gambling will not provide full-time jobs. The only job leisure.

rychallenge

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it can be seen in many ways, your OP is only based on theories, not fact.

poplolnman

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Quote from: Wendigo on November 16, 2015, 05:55:18 PM

Saw this on NitrogenSports today. You gotta believe in the heart of the cards Cool

https://nitrogensports.eu/betslip/c21127fVmppd0NNVFMxUXpLNWptL2hyS3BJUT09/r/325705/

Okay almost 1200 odds with 14 match and won 11 btc wow!wow! What a lucky guys? Wow he did it all in tennis matches.
But If he didn't stop gamble i beleive his 11 btc will turn to -11 btc. Why? Always hard against long run. unless he know when to stop or only bet on small amount.

Erza

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Quote from: UnknownUsername on November 16, 2015, 08:01:49 PM

Gambling in the long run is possible if you have unlimited money because someday you're going to face a losing streak..
besides the house edge will gonna chew on your profits slowly.

C'mon even if you had 1k btc you can just lose those in minutes.

There is no unlimited money in this world. Everyone will not have this kind of money and this thing has many time being discussed and it seems like you dont really understand what it means. So it means you will lose all of it if you dont know how to stop your bet

UnknownUsername

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Gambling in the long run is possible if you have unlimited money because someday you're going to face a losing streak..
besides the house edge will gonna chew on your profits slowly.

C'mon even if you had 1k btc you can just lose those in minutes.

MRKLYE

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Designer - Developer

The only way gambling is profitable in the long run is to set up your own casino and house edge the degenerates.
Gambling itself is a huge money sink.. and likely a good 33% of all BTC is gambled I'd bet.. Its sort of crazy.

BTC: For Drugs, Gambling and shady prostitution things!

RealBitcoin

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Quote from: XinXan on November 16, 2015, 06:05:55 PM

Flat betting would be just as hard as using any system, it actually seems that flat betting it's way harder because you only win the same amount of money in each of your bets, you would have better chances using a risky method because when you get lucky you win a lot, of course you have to be extremely lucky.

Actually from a risk standpoint, flat betting is the most efficient strategy.

Sure you can use martingale or all-in if you want the big buck , but in terms of survival rate, flat betting is the only option.

XinXan

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Quote from: RealBitcoin on November 15, 2015, 02:36:25 PM

Quote from: XinXan on November 15, 2015, 12:56:13 PM

How do you know how much more probable your scenario is? Your calculations are not exactly right, first of all what are the gamblers using, martingale? What happens when they lose all their money? Do you know how hard it is just to recover that money? Your scenario it's not that probable and I have never seen anyone profiting from roulette or dice without cheating. As I said, give us 1 real example of someone doing it and I will believe you.

I dont know, but it can be calculated with a simple Z test if you know the parameters. I dont have time to do it.

With martingale its virtually impossilble since martingale doesnt add any expectancy bonus to you, it only adds exponential risk.

I mostly described my scenario with flat betting only. No systems, no strategies. Just betting on 1 scenario with constant bet size.

Example? Why? Thats like saying I dont believe in gravity because I havent jumped out from the 4th floor yet. We know my scenario is possible, you dont need real world examples to prove it.

Plus I dont have records of every single bet that has ever taken place to prove it to you.

Flat betting would be just as hard as using any system, it actually seems that flat betting it's way harder because you only win the same amount of money in each of your bets, you would have better chances using a risky method because when you get lucky you win a lot, of course you have to be extremely lucky.

Wendigo

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Saw this on NitrogenSports today. You gotta believe in the heart of the cards Cool

https://nitrogensports.eu/betslip/c21127fVmppd0NNVFMxUXpLNWptL2hyS3BJUT09/r/325705/

ANdr0id

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When it comes to gambling you are always taking a risk, so there is a high chance of failure.
And yes profit is different from being profitable. A business is profitable. Being in profit is if you took the risk to put your money on the line so to get more than what you put up.

bakingbad

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i really doubt this idea is possible in real life

Phildo

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Quote from: RealBitcoin on November 16, 2015, 01:26:52 PM

Quote from: Phildo on November 16, 2015, 12:59:22 PM

Everyone on this site needs a dictionary.

It is POSSIBLE to win gambling on -ev bets (blackjack, roulette, dice) whatever.

That does not mean it is PROFITABLE LONG TERM. Words have meaning.

If you get a powerball ticket on your 18th birthday for free and win 100 million dollar jackpot and never spend a cent gambling for the rest of your life you will have made money on -ev bets. That doesn't mean powerball is profitable long term.

Self control has nothing to do with it, if a bet is -ev, it isn't profitable long term, if it's +ev it is.

Ok but it's still possible.

I added a picture illustration so that it is easier to visualize what I`m talking about.

Possible to make a profit and profitable do not mean the same thing.

iv4n

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We are all talking same things over and over again. Yes gambling can be profitable in long run or gambling can ruin u in long run. You are talking about percentage of this and that, but I believe reality is something else.
In reality if u want to earn u need to invest! So gambling in long run is more possible with 1 million $ then with 1 thousand $, and its more easier for sure.
I gamble with bitcoins almost every day (it becoming "long run") and I will tell u for a year how it was on my example. I also wish luck to everyone! I like when someone take money from casinos.

RealBitcoin

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Quote from: Phildo on November 16, 2015, 12:59:22 PM

Everyone on this site needs a dictionary.

It is POSSIBLE to win gambling on -ev bets (blackjack, roulette, dice) whatever.

That does not mean it is PROFITABLE LONG TERM. Words have meaning.

If you get a powerball ticket on your 18th birthday for free and win 100 million dollar jackpot and never spend a cent gambling for the rest of your life you will have made money on -ev bets. That doesn't mean powerball is profitable long term.

Self control has nothing to do with it, if a bet is -ev, it isn't profitable long term, if it's +ev it is.

Ok but it's still possible.

I added a picture illustration so that it is easier to visualize what I`m talking about.

Phildo

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Quote from: Erza on November 15, 2015, 10:48:27 PM

Quote from: Monnt on November 15, 2015, 07:33:57 PM

"Gambling can be profitable in the long run! It is possible!"

"Gambling is not profitable 90% of the time! It is possible!"

Yes, of course it is profitable. But most of the time it is NOT.

It is depends on how are you played on each gambling site. Play slowly and dont be greedy that is how people can manage to profitable in long run but until you achieve that goal you must stop it no matter what or you will be on losing again. That is why you need self control there

Everyone on this site needs a dictionary.

It is POSSIBLE to win gambling on -ev bets (blackjack, roulette, dice) whatever.

That does not mean it is PROFITABLE LONG TERM. Words have meaning.

If you get a powerball ticket on your 18th birthday for free and win 100 million dollar jackpot and never spend a cent gambling for the rest of your life you will have made money on -ev bets. That doesn't mean powerball is profitable long term.

Self control has nothing to do with it, if a bet is -ev, it isn't profitable long term, if it's +ev it is.

afriezalie

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Yeah it is still possible to earn profit from gambling in long term. But it has small change, so we must be careful with gambling, especially for new comers. To earn profit from gambling, you need not only luck but also strategy. There's no luck for third time, so you need personal strategy to earn much money from gambling. Also we have to see bet value, only bet you can afford to lose.

Supercrypt

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Quote from: davinchi on November 16, 2015, 11:55:07 AM

Quote from: michinzx on November 16, 2015, 01:21:17 AM

Quote from: Erza on November 15, 2015, 10:48:27 PM

Quote from: Monnt on November 15, 2015, 07:33:57 PM

"Gambling can be profitable in the long run! It is possible!"

"Gambling is not profitable 90% of the time! It is possible!"

Yes, of course it is profitable. But most of the time it is NOT.

It is depends on how are you played on each gambling site. Play slowly and dont be greedy that is how people can manage to profitable in long run but until you achieve that goal you must stop it no matter what or you will be on losing again. That is why you need self control there

self control is knowing when to pull out when youre ahead, if youre gambling. with games of chance, anything is possible, really, its just that with the way people play, never satisfied with winning whatever they have up till that point, people usually end up losing more than what they walked in with.

You are 100% right. More the gambling, more the losses. It's the one of the thumb rule which is even applicable for trading also.
In my personal experience itself I have experienced that. Many times even after I have earned more than enough money I continued to gambling and ended up in loss.

This is simply called as greediness. The greediness is the one of the biggest enemy for our profit or even for our investments. Many people find themselves not addicted to gambling but they are addicted to greedy, any way both are very much dangerous for our earning in gambling.

davinchi

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Quote from: michinzx on November 16, 2015, 01:21:17 AM

Quote from: Erza on November 15, 2015, 10:48:27 PM

Quote from: Monnt on November 15, 2015, 07:33:57 PM

"Gambling can be profitable in the long run! It is possible!"

"Gambling is not profitable 90% of the time! It is possible!"

Yes, of course it is profitable. But most of the time it is NOT.

It is depends on how are you played on each gambling site. Play slowly and dont be greedy that is how people can manage to profitable in long run but until you achieve that goal you must stop it no matter what or you will be on losing again. That is why you need self control there

self control is knowing when to pull out when youre ahead, if youre gambling. with games of chance, anything is possible, really, its just that with the way people play, never satisfied with winning whatever they have up till that point, people usually end up losing more than what they walked in with.

You are 100% right. More the gambling, more the losses. It's the one of the thumb rule which is even applicable for trading also.
In my personal experience itself I have experienced that. Many times even after I have earned more than enough money I continued to gambling and ended up in loss.

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