Topic: How Many Bets to Know How Good Enough You Are? - page 2. (Read 673 times)

I don't think you will have an answer to the question. You know that gambling is not the kind of betting you will do 100% of the time. However, most people lose in gambling multiple times before starting to win at the beginning. Since they will be new and they may be playing it without applying any strategy, are you going to count this in another way? Also, because I believe while you are looking at how perfect you are, you need to consider this too, which you won’t do; however, gambling is a probability something you are not sure of and you won’t know the outcome of it, so how do you think you will be able to win? Till you wait for the outcome of the games you predict. Although you can do that based on how favorable it is for you or the type of strategy you use when gambling, it is still difficult for you to know this because gambling is luck.


It will be hard for a gambler to win 1–5 tickets without losing a single game. However, before considering winning 1–5 tickets and be claiming experience or a good gambler, you also need to check how many games you lose before you win those 5 tickets that make you an experienced gambler. However, you are right by saying his percentage will drop when he continues losing bets, which is constant; there is no magic for that one to lose.

Well for me, since we are talking about how good we are when it comes to betting I think the higher the percentage of winning makes it acceptable to be called "good enough". 60% is for me quiet good but we all know that it's not that easy to achieve in just a short period of time. Though this depends on what kind of gambling we are in.

I think as a bettor it doesn't need to be too difficult to analyze how good we are as bettors because the winning percentage can go down and up even in sports betting where we are very familiar with the sport, for example in the Champions League in the fifth match how many people predicted that Bayern Munich only drawing with Copenhagen, PSG also drawing against Newcastle or predicting that AC Milan will lose to Dortmund at San Siro, so all the analysis you make to see whether you are a good bettor will never be accurate because there are other factors that we don't know about for example a club that changes strategy and so on, so just enjoy every bet, if you lose, accept the loss, if you succeed in making a profit, then withdraw and enjoy.

This really depends on us to be able to control ourselves in gambling, if we can control our emotions in gambling of course we will be able to stop when we have lost several times, but it is very difficult for us to stop gambling if we cannot control our emotions, after getting many losses while we still have funds to gamble, we will not stop because we will continue to chase wins that we will not get until all the funds we have are used up.

Agree, I do 3 sports but I won't be a hypocrite and say I am good at it. It's difficult to keep up with so many players, fighters, and boxers in the sports industry. I am trying to add table tennis too but there are so many players especially, in the Russian tournaments.

Proper research means watching games and keeping ourselves updated with the sports events which is not easy. Sometimes I do miss some games because there's another game happening on that same day.
60% by OP is a high amount, in my opinion. I'd go 30-40% at low risk and 20-29% at medium risk. Recently, I have been playing casino games with high-risk bets and all I can say is the chances of winning are way below the numbers that I said.
Also, there's no way to identify that you are a good gambler in casino games, it's the house that is good for creating a business that would take our money. 

Only we will know how much betting we can afford, and that is enough for us, and it is true. We can bet 10x and feel that is enough for us to gamble so we can leave the casino straight away. But some gamblers can bet more than 10x, and that makes them feel better until they finally decide to stop gambling. But we have to remember that the longer we gamble, the greater the chance of losing because the emotions will become greater, especially when we lose. We will begin to be unable to accept loss and will instead try to recover from the loss.

I completely agree with the first statement (regarding the importance of such statistics and cherrypiking) and disagree with the second (about consecutive victories). It is impossible to constantly receive winnings at any odds since the dispersion of the result can be large, only the result over the distance matters. Roughly speaking, if there is a profit at a distance of 1000 bets, then this is a confirmed success, but if at a shorter distance we see profits or losses, then it is too early to judge.

It seems to require something unusual to be able to get such a big win, one of which has experience and qualified skills and not only that you also have to be really lucky, although basically such things are always difficult to know but no problem, maybe there will be a time when you are in a position of full luck. It's a good idea to make sure that you've got a good idea of what you're getting yourself into and how you're going to do it.

If you're not sure how to get the most out of the game, then you'll want to make sure that you have a good idea of what you're getting yourself into. And the point is that if you are gambling on skill-based gambling such as sports then obviously over time you will be able to gain experience by learning various things related to the field of sports, and if you already feel enough with the skills and knowledge you have then I think the results of your bets will be a little better, but remember always use a small budget amount even if you already have a pretty good knowledge because after all this is gambling that is not entirely predictable.

 

A 60% win ratio might be deceiving.... let's say 60% of those wins was on bets with low risk and only 40% of those were on high risk bets, then that statistics means nothing. Anyone can cherry pick low risk bets and achieve a high win ratio... but the true professional can take medium and high risk bets and continuously have wins on them.

The ability to spot good bets on medium to high risk bets, come from proper research and lots of experience. You should also be consistent in a large variety of Sports .....not just in one of two of the Sports that you love. 

If you can bet this amount of money and win, then I think you are an experienced and good gambler. It is possible to prove your experience based on your winning bets, if you can win 1-5 then you can claim to be a big gambler. And if not, you're not a very experienced gambler, so you need to keep thinking and time your bets enough to be successful. It's good if you win a few bets, but if you lose later on, your percentage may drop. Moreover, if you are constantly betting and increasing your gambling experience, it will not be very standard if you claim to be a good gambler in terms of winning percentage. So you need to increase your experience in betting first, otherwise you can lose money anytime.

Don't know about you, but I find the question serious, and I think he isn't asking about us but he is more concerned about his performance. Also, he is talking about sports betting here, and not casino games. All of us are equal in casino games although our luck can come randomly, e.g. I am lucky today and can win while you aren't but the next day or so, you are the ones who are lucky and I am the opposite of it. Luck can still play a role even in sports betting, this is why he said someone can get those percent after a certain number of bets. To know our true skill, it is better to place more bets, as the winning percentage can still fluctuate.

A couple of trials after your first time should determine your level of success. The first approach to betting might not be a good determinant when it comes to self-evaluation of your betting skills.

Maybe after betting for 3 to 4 different times, you can self evaluate, but not to forget, the mindset you possess while betting is also an important factor. If you always go betting after a long day, you don't expect the results to be the same as when compared to betting from a point of relaxation and proper skill deployment even though wins are more characterised by luck rather than skills.

Well, you said it yourself, in gambling there are those professionals who participate in tournaments.  We might not call normal gamblers to be professional but I guess we can tagged them as seasoned gamblers.  These are people who are in the gambling industry for so many years, meaning they have rich experience when it comes to gambling.

Winrate can identify the performance of a person. IF the win rate is above 50%, this means the player won more than they lose, and suppose to be in profit if the amount of bet and game odds is fixed.  I highly agree that certainty is lacking in gambling and it won't be called gambling if the result is certain.


True that, the reason why many lottery ticket buyer keep on buying tickets regardless of the very slim chance of winning is because once they hit the jackpot, all their expenses will be recovered plus that huge amount of winnings that can change their lives.

This depends upon several factors but the most common indicator to know that you should stop is when you have reached your budget for the day.

If you are the type of person who allocates a certain budget for gambling, then once you reach that threshold, then that is the sign for you to stop. However, if you do not have a designated budget since you gamble whenever you feel like to, then a good indicator is when you have realized that you have lost/won more than enough.

Again, this is a case-to-case basis scenario and this can depend on multiple factors. But having a designated budget is a good practice for a person to manage their expenses since this gives them their "reality check" when they gamble.

IMHo, there's no actual measurement or metric on how good we are and how many bets we need to determine that. What measurement for me is the tenure of yours being a gambler. That will determine of how good you are IMO because the longer you have been a gambler and how much you've made will determine what you really are.

So, if you've got a lot of achievements for all of the years that you have been gambling then that can be said that you've been a profitable gambler and that's so good of you.

But if you have been a gambler for a very long time and you don't even manage to make some profitable bets then that only says that you're not as good as what you're thinking.

Well, I think that you would need more bets depending of the game. So you wanna play chess, you can probably bet 20 times by playing and you will pretty much know where you are. In poker, 1000 bets is a good playing day, so you will need many many more to see what is your real level, which is also a moving target, since you are supposed to improve with time.

Do these statistics reflect the odds with which the bets were made? If not, then these statistics are useless and can only confuse those who do not know the nuances. If you want to achieve similar statistics, then place bets with odds up to 1.1 and you will easily get this result. The problem is that the deposit will still be in the red.

In order to be sure that you have good enough in gambling, my personal opinion is to have placed over 500 bets with a success rate of at least 60-70%. Although reaching a high number as a percentage is important in this case, I think this ratio should be high with as high a number of bets as possible because when we compare someone with a 90% winning rate with 10 bets and someone with a 70% winning rate with 1,000 bets, there is no doubt that we can say that the second person is more experienced and successful.


Yes, it is actually possible to state that it is sufficient if a person doubles or more than doubles his/her money but as I mentioned above the total number of bets placed is also very important in order to make a general comment and ensure continued good enough.

Additionally, let's say a person places three different bets with odds of 1.10 as in the scenario you mentioned. In this case, if 100 units of money are used for each bet there will be a bet amount of 300 units. If two bets are successful and one is unsuccessful this person will have 220 units of money and will have made a loss instead of making a profit. Moreover, when a success rate is calculated after reviewing the person's bets there will be a loss of 80 units that is approximately 25% of the capital with a correct betting rate of 66.66%.

On the time that you would be chasing up your losses then this is the time that you will be that desperate and this is something that must be avoided. How many bets needed for you to see if you are doing good enough? It would be entirely be that depending on how you would be able to see with those stats or numbers. Whether it would be enough for 10 bets or 20 or 100 bets, it would be according into your own method. Some might be making some test bets but this one will really be costly specially if we do speak about 100 bets before you could tell that you are
doing just fine.

The most important thing when making some sports bet is that you should really know on the team/players that you are betting on. Dont mind much
about winning rate or what as long you are that enjoying and at the same time you are not making use of borrowed funds then you should
be just that fine. 10 games should suffice but if you arent contented then its up to you if you will be continuing.

People keep testing themselves until their luck comes with them some of their stories succeed and they take home a large amount of money and some of them don't due to excessive hope that they will earn more those winnings they've lost their money instead. Actually, this will depend on the player something winning 50% or above is not just enough so they will keep testing and chasing until where they can try to get profit. To play gambling as a pro its a must to have a good amount of money that you won't regret to lose because it's part of the game if you want to get a large amount you must need to risk a large amount too.