How much can you earn with gambling? - page 153.

darkangel11

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Don't let others control your BTC -> self custody

Quote from: n2004al on October 07, 2015, 09:57:20 AM

Quote from: win win win on October 06, 2015, 04:35:10 AM

You should only gamble when you are hot and have the discipline to stop once you become cold

Normally must do the opposite. You must gamble when you are cold (so you can control every minute yourself and will stop in the right moment). If you will gamble when you are hot, you for sure will lose everything because being how mean not think. When don't think it is sure that you will lose because the mind doesn't have nothing to do with your desire to win and to use all the chances (read money) your "think" you have.

But my suggestion is to not gamble at all because the gambling make everyone hot when this everyone begin the gamble.

If you don't gamble you don't win. Some people just like to or want to be "hot".

n2004al

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Quote from: win win win on October 06, 2015, 04:35:10 AM

You should only gamble when you are hot and have the discipline to stop once you become cold

Normally must do the opposite. You must gamble when you are cold (so you can control every minute yourself and will stop in the right moment). If you will gamble when you are hot, you for sure will lose everything because being how mean not think. When don't think it is sure that you will lose because the mind doesn't have nothing to do with your desire to win and to use all the chances (read money) your "think" you have.

But my suggestion is to not gamble at all because the gambling make everyone hot when this everyone begin the gamble.

safari88

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Quote from: panjul07 on October 06, 2015, 11:05:45 PM

Quote from: safari88 on October 06, 2015, 08:34:12 PM

Quote from: Mickeyb on October 06, 2015, 04:26:29 PM

If you know what you are doing and if you are lucky you can learn a lot. This I talk about Poker and sports betting.

If you don't know what you see doing than you will probably lose everything. Also if you play dice. Dice sites will make you lose everything as well.

yes I prefer to play poker with a waiting patient then you can win, compared to dice set by the system and who know it is not fair

There is a provably fair mechanism in almost all dice site, so you can verify all your bets. And talk about fairness, there is also probability to see unfair game on poker. I have experienced in my local poker site, and so surprises to know that the admin of the site was playing against real player and he always win whatever cards on his hand.

well I have not thought about poker cheating like that, but this time I was good enough to always play tournaments and play poker on the site quite a lot of players. but yes cheating was very reasonable and depending on where you play poker

maxhor

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Quote from: dinda22 on October 07, 2015, 08:11:13 AM

Quote from: Decoded on October 06, 2015, 11:07:55 PM

Quote from: dinda22 on October 06, 2015, 10:16:27 PM

Quote from: Decoded on October 06, 2015, 04:30:36 AM

i managed to win 2btc+ in gambling from .1btc bankroll, i sell almost 1.5btc and lost the rest again so all in all im still in profit from gambling so im not yet stopping xD

an overwhelming victory with a capital of 0.1 becomes 2btc, may you have a good sklil. what types of gambling you play?

i usually play sportsbetting on most of the time and ofcourse luckyb.it i got almost 3-4weeks straight winning there, everyday on profit

hmm nice you have good skills in selecting the team. same with me like to play sports betting and luckybit, but in luckyb.it I prefer to wait lotto Grin

Chat lotto is really have fun and worth to wait for it in chat at luckybit to win something risk free, sometimes favorite teams not work in many games.

dinda22

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Quote from: Decoded on October 06, 2015, 11:07:55 PM

Quote from: dinda22 on October 06, 2015, 10:16:27 PM

Quote from: Decoded on October 06, 2015, 04:30:36 AM

i managed to win 2btc+ in gambling from .1btc bankroll, i sell almost 1.5btc and lost the rest again so all in all im still in profit from gambling so im not yet stopping xD

an overwhelming victory with a capital of 0.1 becomes 2btc, may you have a good sklil. what types of gambling you play?

i usually play sportsbetting on most of the time and ofcourse luckyb.it i got almost 3-4weeks straight winning there, everyday on profit

hmm nice you have good skills in selecting the team. same with me like to play sports betting and luckybit, but in luckyb.it I prefer to wait lotto Grin

Mickeyb

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Move On !!!!!!

Quote from: panjul07 on October 06, 2015, 11:05:45 PM

Quote from: safari88 on October 06, 2015, 08:34:12 PM

Quote from: Mickeyb on October 06, 2015, 04:26:29 PM

If you know what you are doing and if you are lucky you can learn a lot. This I talk about Poker and sports betting.

If you don't know what you see doing than you will probably lose everything. Also if you play dice. Dice sites will make you lose everything as well.

yes I prefer to play poker with a waiting patient then you can win, compared to dice set by the system and who know it is not fair

There is a provably fair mechanism in almost all dice site, so you can verify all your bets. And talk about fairness, there is also probability to see unfair game on poker. I have experienced in my local poker site, and so surprises to know that the admin of the site was playing against real player and he always win whatever cards on his hand.

Yes, there are provable dice sites but dice homes are based only on luck, while in poker and sports betting there is at least some skill and knowledge involved.

It has been said and proven in numerous threads that dice games will make you lose money always in a long run, even the provable ones.

Dennis7777

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Quote from: adaseb on October 06, 2015, 11:21:34 PM

Quote from: Dennis7777 on October 06, 2015, 04:56:36 PM

Quote from: fox19891989 on October 06, 2015, 04:42:20 PM

Quote from: Dennis7777 on October 06, 2015, 04:32:47 PM

-snip-
Also, there is something called Kelly formula https://en.wikipedia.org/wiki/Kelly_formula, which tells you how much you should risk in each bet when the bets are favourable (+EV) to you. But when the bets are unfavourable (-EV) to you, it tells you not to make the bet.

Your link about kelly formula is awesome, maybe we can learn good strategy from it, if we wanna be +EV, mastering math is a necessary thing. But I think every bet is independent, how to choose when to bet big, when to bet small?

Yes every bet is independent and so Kelly formula does not tell you to change your bet size based on your previous rolls, unlike in progressive strategies like martingale. Your bet size (as % of your total bankroll) should stay the same as long as the win chance and multiplier are unchanged.

This stragegy is better because if there is a large losing streak, you won't get taken out like in martingale however since there is still a house edge you can lose.

Hmm it seems you have misunderstood it. If you follow the Kelly formula, you would never ever bet in those dice, roulette, BJ or any games with a positive house edge, as all those bets give you a negative EV. Instead you would only be on the other side of the bet, either be the site owner or be a bankroll investor.

mr.relax

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I only know some guys who claim they are gambling and earning.
In fact they loose all. Money, house, family...

adaseb

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Quote from: Dennis7777 on October 06, 2015, 04:56:36 PM

Quote from: fox19891989 on October 06, 2015, 04:42:20 PM

Quote from: Dennis7777 on October 06, 2015, 04:32:47 PM

Quote from: bitart on October 06, 2015, 04:22:32 PM

Is there a kind of risk management strategy that works in connection with gambling? E.g. if you speculate in the real market on the price of a stock you can define entry points and stoploss points. Even you can decide to risk only predefined % of your capital in one transaction.
Is there a kind of similar thing in gambling or is it needed anyway?

Not sure what you are looking for exactly, but you can control your bet size freely in each of your bets. If you want to risk only 5% of your money in the next bet, you can directly choose that amount as your bet size.
Also, there is something called Kelly formula https://en.wikipedia.org/wiki/Kelly_formula, which tells you how much you should risk in each bet when the bets are favourable (+EV) to you. But when the bets are unfavourable (-EV) to you, it tells you not to make the bet.

Your link about kelly formula is awesome, maybe we can learn good strategy from it, if we wanna be +EV, mastering math is a necessary thing. But I think every bet is independent, how to choose when to bet big, when to bet small?

Yes every bet is independent and so Kelly formula does not tell you to change your bet size based on your previous rolls, unlike in progressive strategies like martingale. Your bet size (as % of your total bankroll) should stay the same as long as the win chance and multiplier are unchanged.

This stragegy is better because if there is a large losing streak, you won't get taken out like in martingale however since there is still a house edge you can lose.

Decoded

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give me your cryptos

Quote from: dinda22 on October 06, 2015, 10:16:27 PM

Quote from: Decoded on October 06, 2015, 04:30:36 AM

i managed to win 2btc+ in gambling from .1btc bankroll, i sell almost 1.5btc and lost the rest again so all in all im still in profit from gambling so im not yet stopping xD

an overwhelming victory with a capital of 0.1 becomes 2btc, may you have a good sklil. what types of gambling you play?

i usually play sportsbetting on most of the time and ofcourse luckyb.it i got almost 3-4weeks straight winning there, everyday on profit

panjul07

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Quote from: safari88 on October 06, 2015, 08:34:12 PM

Quote from: Mickeyb on October 06, 2015, 04:26:29 PM

If you know what you are doing and if you are lucky you can learn a lot. This I talk about Poker and sports betting.

If you don't know what you see doing than you will probably lose everything. Also if you play dice. Dice sites will make you lose everything as well.

yes I prefer to play poker with a waiting patient then you can win, compared to dice set by the system and who know it is not fair

There is a provably fair mechanism in almost all dice site, so you can verify all your bets. And talk about fairness, there is also probability to see unfair game on poker. I have experienced in my local poker site, and so surprises to know that the admin of the site was playing against real player and he always win whatever cards on his hand.

dinda22

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Activity: 1232

Merit: 1000

Quote from: Decoded on October 06, 2015, 04:30:36 AM

i managed to win 2btc+ in gambling from .1btc bankroll, i sell almost 1.5btc and lost the rest again so all in all im still in profit from gambling so im not yet stopping xD

an overwhelming victory with a capital of 0.1 becomes 2btc, may you have a good sklil. what types of gambling you play?

futurebit640

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Quote from: Mickeyb on October 06, 2015, 04:26:29 PM

If you know what you are doing and if you are lucky you can learn a lot. This I talk about Poker and sports betting.

If you don't know what you see doing than you will probably lose everything. Also if you play dice. Dice sites will make you lose everything as well.

I usually bet only on sports and made so for less than one bitcoin. Since I know more about the cricket I bet mostly on these games and made some profits from those games. But I'm not a regular betting person only some times in free time and if I think some teams will surely win then only I bet otherwise no to gambling.

safari88

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Quote from: Mickeyb on October 06, 2015, 04:26:29 PM

If you know what you are doing and if you are lucky you can learn a lot. This I talk about Poker and sports betting.

If you don't know what you see doing than you will probably lose everything. Also if you play dice. Dice sites will make you lose everything as well.

yes I prefer to play poker with a waiting patient then you can win, compared to dice set by the system and who know it is not fair

Dennis7777

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Activity: 640

Merit: 500

Quote from: fox19891989 on October 06, 2015, 04:42:20 PM

Quote from: Dennis7777 on October 06, 2015, 04:32:47 PM

Quote from: bitart on October 06, 2015, 04:22:32 PM

Is there a kind of risk management strategy that works in connection with gambling? E.g. if you speculate in the real market on the price of a stock you can define entry points and stoploss points. Even you can decide to risk only predefined % of your capital in one transaction.
Is there a kind of similar thing in gambling or is it needed anyway?

Not sure what you are looking for exactly, but you can control your bet size freely in each of your bets. If you want to risk only 5% of your money in the next bet, you can directly choose that amount as your bet size.
Also, there is something called Kelly formula https://en.wikipedia.org/wiki/Kelly_formula, which tells you how much you should risk in each bet when the bets are favourable (+EV) to you. But when the bets are unfavourable (-EV) to you, it tells you not to make the bet.

Your link about kelly formula is awesome, maybe we can learn good strategy from it, if we wanna be +EV, mastering math is a necessary thing. But I think every bet is independent, how to choose when to bet big, when to bet small?

Yes every bet is independent and so Kelly formula does not tell you to change your bet size based on your previous rolls, unlike in progressive strategies like martingale. Your bet size (as % of your total bankroll) should stay the same as long as the win chance and multiplier are unchanged.

fox19891989

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Quote from: Dennis7777 on October 06, 2015, 04:32:47 PM

Quote from: bitart on October 06, 2015, 04:22:32 PM

Is there a kind of risk management strategy that works in connection with gambling? E.g. if you speculate in the real market on the price of a stock you can define entry points and stoploss points. Even you can decide to risk only predefined % of your capital in one transaction.
Is there a kind of similar thing in gambling or is it needed anyway?

Not sure what you are looking for exactly, but you can control your bet size freely in each of your bets. If you want to risk only 5% of your money in the next bet, you can directly choose that amount as your bet size.
Also, there is something called Kelly formula https://en.wikipedia.org/wiki/Kelly_formula, which tells you how much you should risk in each bet when the bets are favourable (+EV) to you. But when the bets are unfavourable (-EV) to you, it tells you not to make the bet.

Your link about kelly formula is awesome, maybe we can learn good strategy from it, if we wanna be +EV, mastering math is a necessary thing. But I think every bet is independent, how to choose when to bet big, when to bet small?

Dennis7777

hero member

Activity: 640

Merit: 500

Quote from: bitart on October 06, 2015, 04:22:32 PM

Is there a kind of risk management strategy that works in connection with gambling? E.g. if you speculate in the real market on the price of a stock you can define entry points and stoploss points. Even you can decide to risk only predefined % of your capital in one transaction.
Is there a kind of similar thing in gambling or is it needed anyway?

Not sure what you are looking for exactly, but you can control your bet size freely in each of your bets. If you want to risk only 5% of your money in the next bet, you can directly choose that amount as your bet size.
Also, there is something called Kelly formula https://en.wikipedia.org/wiki/Kelly_formula, which tells you how much you should risk in each bet when the bets are favourable (+EV) to you. But when the bets are unfavourable (-EV) to you, it tells you not to make the bet.

Mickeyb

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Activity: 798

Merit: 1000

Move On !!!!!!

If you know what you are doing and if you are lucky you can learn a lot. This I talk about Poker and sports betting.

If you don't know what you see doing than you will probably lose everything. Also if you play dice. Dice sites will make you lose everything as well.

bitart

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Merit: 629

Vires in Numeris

Is there a kind of risk management strategy that works in connection with gambling? E.g. if you speculate in the real market on the price of a stock you can define entry points and stoploss points. Even you can decide to risk only predefined % of your capital in one transaction.
Is there a kind of similar thing in gambling or is it needed anyway?

vendetahome

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you can earn massive amounts of money im pretty sure about this fact as people sometimes win a lot of money playing poker or games like that

Topic: How much can you earn with gambling? - page 153. (Read 144991 times)