How Often Do Gamblers Really Win? | Bitcointalksearch.org

futurebit640

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Quote from: shintosai on November 09, 2016, 10:11:41 AM

Quote from: 2double0 on November 09, 2016, 10:03:58 AM

Quote from: Jemzx00 on November 09, 2016, 09:44:10 AM

Quote from: traderethereum on November 09, 2016, 07:55:56 AM

i think its difficult to say how often gamblers win because we can not predict when we are win or not and its depend on our luck on the games itself even for pro gamblers, they can not give the right answer because they only playing gambling and win the games so i think i am not sure about this.

Yeah, Agreed that it's difficult to predict how often gamblers win since gambling is a luck based game. But for me, it's still depend on what kind of gambling game you are playing since there are other game that can be based on strategy too but still it needs luck. So yeah there would be no right answer to this. But remember that not all people care if they win or not since some of them just gamble for fun.

There are ways to determine this by classifying your bets and times if you are not lazy.
Seriously, you can do that by taking your profits and losses on one side and dates on the other, and see that which week made you how much profit/loss and you can see and decide that where and how you win or lose.

same way when you are inside the trade you need to make some accounting things to verify and know which type of games you have a good edge and also to make much better assessment of some particular games that you really have good edge knowing this will make you easily to count if you gain profits or not.

The professional gamblers can maintain this balance sheet but we are just play gambling to have fun, so I think many people will not get time to maintain this detail. But according to me except few gamblers I can easily say that lot of gamblers are losing side including me it's just my opinion.

JasonXG

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The amount of wins is equal to 50% - house edge. But this is the total wins not the total wins per person. See big winners win back the loses of the previous how ever many gamblers there were Eben though the stats are 50%- house edge. The money the house pays these people who win is the 50- house edge and the money they dont habe to pay to any winners is = the house edge. This is over long periods of time.

So of today a casino had 100k deposits and a house edge of 1 % then they make 1% of the 100k the rest is used to pay back winners.

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Quote from: 2double0 on November 09, 2016, 10:03:58 AM

Quote from: Jemzx00 on November 09, 2016, 09:44:10 AM

Quote from: traderethereum on November 09, 2016, 07:55:56 AM

i think its difficult to say how often gamblers win because we can not predict when we are win or not and its depend on our luck on the games itself even for pro gamblers, they can not give the right answer because they only playing gambling and win the games so i think i am not sure about this.

Yeah, Agreed that it's difficult to predict how often gamblers win since gambling is a luck based game. But for me, it's still depend on what kind of gambling game you are playing since there are other game that can be based on strategy too but still it needs luck. So yeah there would be no right answer to this. But remember that not all people care if they win or not since some of them just gamble for fun.

There are ways to determine this by classifying your bets and times if you are not lazy.
Seriously, you can do that by taking your profits and losses on one side and dates on the other, and see that which week made you how much profit/loss and you can see and decide that where and how you win or lose.

same way when you are inside the trade you need to make some accounting things to verify and know which type of games you have a good edge and also to make much better assessment of some particular games that you really have good edge knowing this will make you easily to count if you gain profits or not.

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Quote from: Jemzx00 on November 09, 2016, 09:44:10 AM

Quote from: traderethereum on November 09, 2016, 07:55:56 AM

i think its difficult to say how often gamblers win because we can not predict when we are win or not and its depend on our luck on the games itself even for pro gamblers, they can not give the right answer because they only playing gambling and win the games so i think i am not sure about this.

Yeah, Agreed that it's difficult to predict how often gamblers win since gambling is a luck based game. But for me, it's still depend on what kind of gambling game you are playing since there are other game that can be based on strategy too but still it needs luck. So yeah there would be no right answer to this. But remember that not all people care if they win or not since some of them just gamble for fun.

There are ways to determine this by classifying your bets and times if you are not lazy.
Seriously, you can do that by taking your profits and losses on one side and dates on the other, and see that which week made you how much profit/loss and you can see and decide that where and how you win or lose.

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Quote from: traderethereum on November 09, 2016, 07:55:56 AM

i think its difficult to say how often gamblers win because we can not predict when we are win or not and its depend on our luck on the games itself even for pro gamblers, they can not give the right answer because they only playing gambling and win the games so i think i am not sure about this.

Yeah, Agreed that it's difficult to predict how often gamblers win since gambling is a luck based game. But for me, it's still depend on what kind of gambling game you are playing since there are other game that can be based on strategy too but still it needs luck. So yeah there would be no right answer to this. But remember that not all people care if they win or not since some of them just gamble for fun.

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Maybe It can be possible that there's one or maybe more that two gamblers that can make gambling for a living but i don't have any idea on how often do gamblers win maybe they are having a day or week intervals before going back to gambling after the instances of winning .

stomachgrowls

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Quote from: xuan87 on November 09, 2016, 07:09:18 AM

The answer to the question is seldom, most of the time the gambler will lose, either it was lose due to the bad luck or didn't know when to stop, I can see more people become bankrupt rather than become rich in gambling, i think the casino had ways to earn profit from us, so that's why don't hope too high in gambling, and gamble with responsible

Indeed and just as expected on gambling, we cant really guarantee profits on it and in the long run most gamblers would surely experience loss of money and thats the reality on gambling thats why we shouldnt be shocked if we loss easily on it. Winners are only few compare to lossers.

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Quote from: camelson on September 06, 2016, 12:08:31 PM

How Often Do Gamblers Really Win?
New Data Provide Some Answers on the Real Odds for Gambling This really a nice article you people should read it.

The casino billboards lining America's roadways tantalize with the lure of riches. "Easy Street. It's Only a Play Away," screams one in Arizona. "$7.1 Million Every Day. We're a Payout Machine," reads another.

But how often do gamblers really win? What are the chances that a gambler will win on a single day or over a longer period? Don't bother to ask the casinos. Although they gather vast quantities of data about their customers for marketing purposes, including win and loss tallies for many regulars, casinos keep such information a closely-guarded secret.

Now, thanks to an unprecedented trove of public data detailing the behavior of thousands of Internet gamblers over a two-year period, The Wall Street Journal can provide some answers.

On any given day, the chances of emerging a winner aren't too bad—the gamblers won money on 30% of the days they wagered. But continuing to gamble is a bad bet. Just 11% of players ended up in the black over the full period, and most of those pocketed less than $150. The skew was even more pronounced when it came to heavy gamblers. Of the top 10% of bettors—those placing the largest number of total wagers over the two years—about 95% ended up losing money, some dropping tens of thousands of dollars. Big losers of more than $5,000 among these heavy gamblers outnumbered big winners by a staggering 128 to 1. More: http://www.wsj.com/articles/SB10001424052702304626104579123383535635644

What this data is showing it is known to all gamblers but then also they are trying their luck but they just forget about playing for short time and when they go for long time they lose in the end.

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i think its difficult to say how often gamblers win because we can not predict when we are win or not and its depend on our luck on the games itself even for pro gamblers, they can not give the right answer because they only playing gambling and win the games so i think i am not sure about this.

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Quote from: Golftech on November 09, 2016, 07:30:26 AM

Quote from: xuan87 on November 09, 2016, 07:09:18 AM

The answer to the question is seldom, most of the time the gambler will lose, either it was lose due to the bad luck or didn't know when to stop, I can see more people become bankrupt rather than become rich in gambling, i think the casino had ways to earn profit from us, so that's why don't hope too high in gambling, and gamble with responsible

well its design to have an advantage agaisnt us but like what you've said if we are responsible and we know when to stop we can make a good position and we will possibly earn from gambling but since that greediness really eaten us we should know how to control that and begin to become a responsible gambler make some assessment if that wont work just stop and don't gamble anymore.

There's no room for greedy people in gambling if your aim is to make money, you will achieve the opposite as mot likely you will just be donating your hard earned money in bitcoin and what you will experience is just a temporary win. No method in gambling and pure emotions will make you lose.

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Quote from: xuan87 on November 09, 2016, 07:09:18 AM

The answer to the question is seldom, most of the time the gambler will lose, either it was lose due to the bad luck or didn't know when to stop, I can see more people become bankrupt rather than become rich in gambling, i think the casino had ways to earn profit from us, so that's why don't hope too high in gambling, and gamble with responsible

well its design to have an advantage agaisnt us but like what you've said if we are responsible and we know when to stop we can make a good position and we will possibly earn from gambling but since that greediness really eaten us we should know how to control that and begin to become a responsible gambler make some assessment if that wont work just stop and don't gamble anymore.

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The answer to the question is seldom, most of the time the gambler will lose, either it was lose due to the bad luck or didn't know when to stop, I can see more people become bankrupt rather than become rich in gambling, i think the casino had ways to earn profit from us, so that's why don't hope too high in gambling, and gamble with responsible

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these are mostly things that we have already known, at least those of us that have been gambling for a hile know this pretty well.

Quote from: camelson on September 06, 2016, 12:08:31 PM

How Often Do Gamblers Really Win?
New Data Provide Some Answers on the Real Odds for Gambling This really a nice article you people should read it.

But how often do gamblers really win? What are the chances that a gambler will win on a single day or over a longer period? Don't bother to ask the casinos.

i agree that it was a good article.
but i don't need an article nor i need to ask a casino to know how much gamblers win, i already have a feeling about that.

Quote

On any given day, the chances of emerging a winner aren't too bad

well, that doesn't sound to be completely right because chances of winning or losing are always the same. you just don't feel the losses at first because there is still money in your pocket.

Quote

But continuing to gamble is a bad bet.

that is another good point. no matter you win or lose you should stop before the big loss appears.

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Quote from: wuvdoll on November 09, 2016, 04:09:26 AM

Quote from: puremage111 on November 08, 2016, 11:10:48 PM

in a chinese quotes

10 people who bet, 9 loses, only 1 win

Well i guess its true, even most casino, betting edge is only 1%, because of human's nature, we tend to lose more than we win, else casino will not make profit

True. Because I am unable to remember when the last time I completed a day with gambling with profits. I remember I have made some profits in gambling but never finished a day and withdrawn profits. Maybe the reasons are failure of emotion control and being greedy, just to multiply my profits I was never successful to finish my gambling with profits.

That is because we do not have a proper game plan, and if we have we failed to follow it because we want to have a bigger win even having only a little amount of money. Don't worry man, I belong with the group, I am also a big loser in gambling and I think I will not ever win.

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Quote from: puremage111 on November 08, 2016, 11:10:48 PM

in a chinese quotes

10 people who bet, 9 loses, only 1 win

Well i guess its true, even most casino, betting edge is only 1%, because of human's nature, we tend to lose more than we win, else casino will not make profit

True. Because I am unable to remember when the last time I completed a day with gambling with profits. I remember I have made some profits in gambling but never finished a day and withdrawn profits. Maybe the reasons are failure of emotion control and being greedy, just to multiply my profits I was never successful to finish my gambling with profits.

hawkins

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in fact it was all different in each person. Well, there are people who always win because it has its own way of doing gambling, and there are many who always lose even in large numbers. very difficult to predict such things as gambling players prefer to enjoy every game they play from the count calculates a matter of win

puremage111

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in a chinese quotes

10 people who bet, 9 loses, only 1 win

Well i guess its true, even most casino, betting edge is only 1%, because of human's nature, we tend to lose more than we win, else casino will not make profit

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Quote from: klf on November 08, 2016, 10:47:10 PM

Quote from: bithasher on November 08, 2016, 11:08:02 AM

I will say still large number of gamblers are winning often but if we compare this number with those who loose more then there will be difference. What I have seen in physical casinos many people wins in short term but they don't have full stop at their greed or limit of making money and they end at loosing.

You say at the end they lose back to the house for whatever reason than I don't call them winners but they also in the list of losers. If you withdraw your money when you win then consider it as a winner. As per me gambling should be played only for fun and entertainment and shouldn't be used or counted how many times we lost and wins.

It's just a temporary win but that is good for us as we do celebrate whenever we win. It is the happiest day of our lives when we win and though we lose in the long run but what is important is we can experience some win in our life also. If you want profit you invest in gambling sites and that is the only option.

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Quote from: bithasher on November 08, 2016, 11:08:02 AM

I will say still large number of gamblers are winning often but if we compare this number with those who loose more then there will be difference. What I have seen in physical casinos many people wins in short term but they don't have full stop at their greed or limit of making money and they end at loosing.

You say at the end they lose back to the house for whatever reason than I don't call them winners but they also in the list of losers. If you withdraw your money when you win then consider it as a winner. As per me gambling should be played only for fun and entertainment and shouldn't be used or counted how many times we lost and wins.

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Quote from: tabas on November 08, 2016, 08:34:12 PM

Quote from: bbc.reporter on November 08, 2016, 07:55:53 PM

You have to question yourself why you are gambling. If you are gambling to win then you are either scamming yourself or would have to acquire the correct skills and then gamble in more skill based games like poker, black jack or sportsbetting. Most casino games make people lose because the house has the edge. You are already a loser before you even sat on the table.

I think the word scamming yourself is not appropriate when a person is gambling. It's either he just doing it because he just can't help himself to stop and thinks that it can be a good source of income. Because even there might be losing still there have a chance of winning but not that too often. But you are right with it on those casino games, considered as loser already upon sitting.

You will only think you are scamming yourself when in the first place you have already accepted that you lose in the game. Real gamblers does not act like that, they are more optimistic that they will win despite of the house advantage of a certain site.

Topic: How Often Do Gamblers Really Win? (Read 2698 times)