GAMBLING: Skill-based vs. Chance-based - page 15.

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Quote from: boyptc on September 10, 2021, 01:01:30 PM

Quote from: zanezane on September 10, 2021, 11:14:00 AM

I think everyone in this thread would agree that it depends on which game because there are some that's skill based like horse race, probability based like dice, and a bit of both like poker or blackjack.

A better example is sports betting.

There's those luck based that you've mentioned such as dice and as well as roulette too. Poker is a combination of luck and skill? I think it's still mainly all about skills.

Yes, poker relies more on skill and especially in bluffing at the right time and a bit of luck depending on how long you play.
And lotteries are more chances and the only way to increase your chances of winning in lottery or bingo games is to buy more tickets.

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Quote from: zanezane on September 10, 2021, 11:14:00 AM

I think everyone in this thread would agree that it depends on which game because there are some that's skill based like horse race, probability based like dice, and a bit of both like poker or blackjack.

A better example is sports betting.

There's those luck based that you've mentioned such as dice and as well as roulette too. Poker is a combination of luck and skill? I think it's still mainly all about skills.

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Skill based gambling is recommended when there is a strong intention to win, it is usually the choice of many who do not have enough money to want to gamble for the fun of it. Chance based gambling on the other hand is mostly the choice of those who don't want to stress, but just want to have some fun, they are usually not so concerned that they might looose their capital because most times winning alone by must is not the intent.

If you become a compulsive skill based gambler, you may be able to control it or quit maybe after plenty looses and the discovery that your gambling skill is not sharp enough, but if you become a compulsive gambler based on chance, happenings and other situations may not easily discourage you from wanting to go gamble considering that you do it mostly sometimes for fun.

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Quote from: Davidvictorson on September 10, 2021, 09:20:54 AM

I do believe that gambling is based on both skill and chance. If you play a particular game all the time, soon you'd notice a pattern whenever you win or lose. If bettor has a small knowledge of statistics and probability he or she will under its application in every game. On the other there's a small role that luck/chance plays. Someone said that that the difference between skill and chance is long term versus short term thinking.

as the OP wrote that gambling games are divided: there are which games prioritize skill over luck, but there are also which games prioritize luck only
in slot and dice games all it takes is luck because you just surrender to the image or number that appears

The point is you have to adjust what type of game you like so that it doesn't make it difficult or make you lose

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I think everyone in this thread would agree that it depends on which game because there are some that's skill based like horse race, probability based like dice, and a bit of both like poker or blackjack.

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Quote from: Davidvictorson on September 10, 2021, 09:20:54 AM

I do believe that gambling is based on both skill and chance. If you play a particular game all the time, soon you'd notice a pattern whenever you win or lose. If bettor has a small knowledge of statistics and probability he or she will under its application in every game. On the other there's a small role that luck/chance plays. Someone said that that the difference between skill and chance is long term versus short term thinking.

It's still important that we're knowledgeable about the game although we could win through it by chance. We could win in gambling mostly by luck but having enough skills on how to win is also an advantage. Having an effective strategy and techniques will surely be a big help.

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I do believe that gambling is based on both skill and chance. If you play a particular game all the time, soon you'd notice a pattern whenever you win or lose. If bettor has a small knowledge of statistics and probability he or she will under its application in every game. On the other there's a small role that luck/chance plays. Someone said that that the difference between skill and chance is long term versus short term thinking.

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Quote from: Russlenat on May 23, 2020, 07:35:33 AM

If it's hard for us to win in dice consistently with only 1% house edge or even less, the more it's hard to win in roulette

Not sure about roulette but with dice it is possible

Whether it is actually worth your time and effort is another question, though. If you are looking only for money, as in big money, it's probably not worth it (there are better ways to earn a shekel or two). However, if you are mostly looking for fun or have some academic interest in the matter, you can work your way toward earning consistent profits in dice. This is not a rocket science, just a little bit of understanding how random events reveal themselves in practice

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Quote from: Alucard1 on May 14, 2020, 05:16:47 AM

As we are now under community quarantine because of this pandemic virus, we tend to play online games to lessen the boredom we feel at our home, so I wanna know your preference on choosing what gamble to play.

There are two types of gambling for me, the skill-based and the chance-based.
1. Skill-based - these are gambling that requires our skills and techniques for us to win, such as playing poker, betting on races, and playing blackjack but the odds of winning are still different for people and it is always in favor of the owner of the gambling.
2. Chance-based - these are gambling that you will only wait for the result, you don't need to do something or to think so deep for you to win because all of you have an equal chance of winning such as roulette, lottery, and other gaming machine.

For me, I will choose the skill-based gambling because I am not hoping for the luck of life, I want to make action to make my life great. It still better to to think logically and analytically at any time.

But if you are only a beginner, I think the chance-baded gsmbling would be duitable for you, but do not stick only on that, you should improve yourself, acquire skills and knowledge through experience so you will be able to play skill baesed gambling soon.

Skill based gambling are very helpful to gamblers that does want to earn money through gambling but of course there are any other gamblers that have good skills to so winning money is no that easy.

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Quote from: Russlenat on May 23, 2020, 07:35:33 AM

Quote from: kotajikikox on May 23, 2020, 03:57:00 AM

I believe in Roulette there are also some skilled gamblers that winning using their talent though it is only few people.

But of course if we have both and added luck?then we are unbeatable lol.

No, there is no way we can win in roulette using our skills because this game itself is called a chance-based games.

If it's hard for us to win in dice consistently with only 1% house edge or even less, the more it's hard to win in roulette.

according to this article. https://www.casinonewsdaily.com/roulette-guide/understanding-roulette-house-edge/

the house edge of roulette is "2.70%"

Hell yeah and I don't know why theirs people believe that its a skill based game since we are just waiting for the roll to hit the jackpot there's no any strategy or methods will work with this, even if you use any strategy that they now for sure they will find it difficult to win.

Maybe accidentally won for what he think strategy that's why he post that statement here.

Anyways good article I will read that later on.

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Quote from: kotajikikox on May 23, 2020, 03:57:00 AM

I believe in Roulette there are also some skilled gamblers that winning using their talent though it is only few people.

But of course if we have both and added luck?then we are unbeatable lol.

No, there is no way we can win in roulette using our skills because this game itself is called a chance-based games.

If it's hard for us to win in dice consistently with only 1% house edge or even less, the more it's hard to win in roulette.

according to this article. https://www.casinonewsdaily.com/roulette-guide/understanding-roulette-house-edge/

the house edge of roulette is "2.70%"

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Quote from: Alucard1 on May 14, 2020, 05:16:47 AM

As we are now under community quarantine because of this pandemic virus, we tend to play online games to lessen the boredom we feel at our home, so I wanna know your preference on choosing what gamble to play.

There are two types of gambling for me, the skill-based and the chance-based.
1. Skill-based - these are gambling that requires our skills and techniques for us to win, such as playing poker, betting on races, and playing blackjack but the odds of winning are still different for people and it is always in favor of the owner of the gambling.

added is sportsbetting because this is skill and knowledge bases game also.

Quote

2. Chance-based - these are gambling that you will only wait for the result, you don't need to do something or to think so deep for you to win because all of you have an equal chance of winning such as roulette, lottery, and other gaming machine.

I believe in Roulette there are also some skilled gamblers that winning using their talent though it is only few people.

But of course if we have both and added luck?then we are unbeatable lol.

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Quote from: figmentofmyass on May 22, 2020, 04:11:05 PM

compare that to chess. who wants to play chess against a grandmaster for money? not me!

You are not the only pebble on the beach

As I suspect, there will be enough people willing to play with a distinguished grandmaster like Bobby Fisher and pay for just the opportunity of it. It is like taking a selfie with a celebrity (think Lady GaGa or young Madonna here). Well, you may not like them at all (and I can definitely relate to you) but you can't speak for other people as there's no accounting for tastes, right? In other words, there can be other factors at play

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Quote from: johhnyUA on May 22, 2020, 06:19:28 PM

In poker it's harder to do. because some things (like cards on the table) is independent from you and your skill.

Then why there are people who are consistently good with poker?

You are not in control with the cards but you can use your skills in poker, that's why there's what we called "bluff" in poker, if you are good with hiding your emotion or showing your fake emotion, you might likely gonna win more and be a successful poker player, and that means you use your skills.

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Chance based games are more friendly to people who are not a lot of acquainted to gambling.
It is a way to make profit without really understanding the game but it is also a chance to lose more money on that.
Skilled based games need a lot of time to understand and learn the game before starting playing.

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Quote from: figmentofmyass on May 22, 2020, 04:11:05 PM

that's also the beauty of poker and why it's so popular.

think of it this way---terrible poker players are still willing to put their chips in the pot with bad odds. they do that because there is an element of chance, and because they win sometimes even as total donks. this is why the pros can make a living playing against amateurs and tourists.

compare that to chess. who wants to play chess against a grandmaster for money? not me! Tongue

What came to my mind. In game where everything more depend on skill, result of every single match is determined on how good you're in this game and even luck doesn't depend on your probability to win. For example, this is being seen in Preference, where not so important which cards do you have, but more affects how do you play. You can finish your game with the best result, even with worst cards. In poker it's harder to do. because some things (like cards on the table) is independent from you and your skill.

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Quote from: LogitechMouse on May 21, 2020, 05:45:52 AM

Quote from: deisik on May 20, 2020, 04:47:55 AM

Quote from: LogitechMouse on May 20, 2020, 04:21:48 AM

If I'm still gambling, I'd rather choose chance based gambling since I don't have any time to acquire many skills that will help me win more in gambling. I'm not that avid fan of gambling and I don't want to spend too much time on it because of my work too

Actually, this matter has been looked into before

Many psychologists have been studying how much time you need to become an expert in any field of human activity. The conclusion? You have to spend at least 10,000 hours to reach a master level at anything, which translates to 4 hours a day every day for 10 years on end

And I would also add that in certain domains it is a lifelong journey, whether you like or not (and you'd better do). Put differently, it should be your true calling since otherwise you can't possibly spend so much time and effort on something which you don't like deep down inside. You would start procrastinating straight away

This is why I don't like to acquire many skills too that are related to gambling because I know already that it will be a waste for me especially if I can't win on it

It will likely be a double waste because the time spend this way could have been spent with greater purpose on something else, more rewarding in terms of personal development and growth

Quote from: LogitechMouse on May 21, 2020, 05:45:52 AM

4 hours a day for 10 years is reasonable I think but for some gamblers, the time frame will be shorter as they are spending more time gambling so lets say that they are spending 7-8 hours on it then it will be lessen to 5 years instead of 10 years

You must actually learn something new during this time span

If you are just mindlessly repeating a certain routine, it is not learning (like "he doesn't have 20 years of experience, but one year repeated 20 times"). True learning requires true effort, and it is doubtful you will be able to exert such an effort for 7-8 hours nonstop. We have only so much mental energy, and it gets spent quickly. In fact, learning as such, i.e. applying efficient and effective approaches to the process of acquiring new knowledge (which translates to expertise and mastery of the subject in the long run), is an art in and of itself

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Quote from: johhnyUA on May 20, 2020, 06:19:47 PM

Quote from: figmentofmyass on May 20, 2020, 04:24:11 PM

i'm pretty sure suited connectors (like T9s or 76s) are the best possible hand vs AA. but i don't wanna overstate their chances though. there is still only a ~22.5% chance to win with 76s vs AA preflop, compared with an 18% chance to win with KK. it's not a huge difference.

Yes, but again, regarding main thesis, this is really makes any ass to explode when such things happen. And you can't counter it with your skill. Difference between poker (and any card game, except maybe Preference and Bridge) and chess is that in chess any game is depending on skill. Noob would never win against grossmeister, but in poker, with of course a negligible probability, noob can win even on long hand. If he is lucky enough.

that's also the beauty of poker and why it's so popular.

think of it this way---terrible poker players are still willing to put their chips in the pot with bad odds. they do that because there is an element of chance, and because they win sometimes even as total donks. this is why the pros can make a living playing against amateurs and tourists.

compare that to chess. who wants to play chess against a grandmaster for money? not me! Tongue

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Quote from: LogitechMouse on May 20, 2020, 04:21:48 AM

Even the skill based gambling requires luck to so both of them requires luck in the end. Skills just add your chances of winning but it will be useless if you aren't lucky in the day.

If I'm still gambling, I'd rather choose chance based gambling since I don't have any time to acquire many skills that will help me win more in gambling. I'm not that avid fan of gambling and I don't want to spend too much time on it because of my work too.

Either way, different gamblers have different perspective with regards to these 2 things.

I agree that during skill games also luck is needed but this is not always the case.I always love to take as an example Texas holdem poker as it can be seen from many different point of views.Even in an unlucky day if you be patient enough it is a sure thing luck will come to you in the form of good card hands after you have been patient enough.My point is in this scenario luck is not always needed,it will come naturally after showing a great deal of patience.

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Quote from: Alucard1 on May 14, 2020, 05:16:47 AM

For me, I will choose the skill-based gambling because I am not hoping for the luck of life, I want to make action to make my life great. It still better to to think logically and analytically at any time.

But if you are only a beginner, I think the chance-baded gsmbling would be duitable for you, but do not stick only on that, you should improve yourself, acquire skills and knowledge through experience so you will be able to play skill baesed gambling soon.

In my own point of view, even you are just playing a skill-based gambling, there is no way you are winning in gambling without having luck by your side. I know skill-based gambling is all about skills and talent, but not all the time you are winning from those because if you are really unlucky you only have a few chance to win.

Topic: GAMBLING: Skill-based vs. Chance-based - page 15. (Read 2402 times)