Topic: My Journey: Can I Win Gambling? - page 4. (Read 5348 times)

Ok, will do! I'll try to add some notes with each session report.

Thanks for your input. I understand the negative EV thing, but I really do think that discipline and controlling your emotions can help you come out ahead in the long run.

As for bitcoin dice sites letting new players win at first, I think it does happen with the majority of them, but it's more complicated then just making a new account, winning a little bit, and then leaving, and repeating later. It depends on a bunch of things, such as how the site is doing profit-wise. I'm sure there are also a lot of things going on in the backend of these dice sites that we don't know about.

I think you should record the entire happening while you were playing on there just for a record just incase it might be usefull someday for some people. It will serve as your journal as well.

I'm pretty sure your statements are contradictory - if you have a negative EV you are going to see a loss in the long term if you play enough (and by enough it can be anywhere from 1 to infinite bets). I don't see how discipline/emotions will actually help you when it comes to dice gambling - if you're doing something like poker then discipline and not falling prey to tilt will definitely help you earn more.


I would tend to disagree - it doesn't make sense as casino's would then be filled by people continually creating new accounts to abuse this. If it's what you believe I'm not going to argue but from a logical perspective it doesn't make sense - much easier to run promotions and announce these.

You should definitely check out some great tipsters out there giving some free tips, follow them and profit.
Check the Gambling section of the forum itself and you will find many good tipsters that you might want to try out.

Hey, thanks for your interest in following my journey!  Here is the wallet address with my 0.4 BTC bankroll:

https://blockchain.info/address/1Q247kQux52qBLBX4tVXFbX344RyevhmhB

You can track all the transactions on there.

I'll start working on a Google doc now.  That's a really good idea.

I totally understand that some people can't keep their emotions in check after they get a long losing streak, but as I've said a couple times now, the main point of this journey is for me to be able to handle losing streaks, and ultimately come out on top because of keeping my emotions in order.

I won't go into detail on this yet, unless you want me to, but in the past 3 sessions since I started this journey, I have been down at points, sometimes down to as little as 0.003 BTC from a 0.01 BTC deposit, but since I was able to keep my emotions in check, and not let my mood swing, I was able to bounce back and come out ahead.

Are you keeping track of your starting point.  I haven't read the whole thread.  I know you said a .4 bankroll which is plenty to work with.  You should start a google doc or something to track your day-to-day earnings/losses. 

Well one of the reason for that is because that you havent hit a long red streak that will ruin your day and make your mood swing. We will see in the future on how you deal with this if you have meet the red long streak of losing, some people just cant keep their emotions after they get a losing streak 

The main point of this journey is for me to be disciplined, and not deposit more, even if I am losing.  If you can control your emotions, and stay disciplined, you can win.  The main reason I'm winning is because I am controlling my emotions, it's not the other way around.

Thanks!

Some people just worried that you might keep on going while you are ahead. For now you maybe able to control your emotions because you are winning and you know when to stop but what if you lose and you are trying to get what you lost back, you then will end up depositting more and lose more 

I think I've explained this a bunch of times already. But that's ok, I'll explain it again:

I am 100% aware that playing, leaving, and coming back the next day doesn't change odds, or anything like that. I understand probabilities, I really do. However, with the right discipline and control over your emotions, I think I can come out ahead of the casinos in the long term. Also, I am pretty sure that online casinos, especially bitcoin casinos, let new players win at first, to a certain extent. And that's just icing on the cake for me.

Thanks for wishing me luck, I really appreciate it.

How is quitting while you're ahead to play the same thing the next day any different than just playing all your hands the same session?

I think your understanding of probabilities is flawed. Best of luck though.

I think it can last. I have to disagree with you there, but other than that, thanks for the support!

Another day another profit, it is a lucky start and you seem to be doing what you thought you would which is surprising me to say the least. Surly it can't last however much I would like to see it continue for you. Keep it up and be lucky

Alright, so I just finished up a session at safedice.com. I finished with 0.0038175 BTC profit after fees. I would have gone for less profit, just to be safer, but I was down from my initial deposit of 0.01 BTC to 0.008 BTC, and I did a winning martingale (which is when you double your bet on a win instead of on a loss) and I ended up finishing at a little over 0.014 BTC. After blockchain fees, I made a good profit.

That's it for today!

Hey, thanks for your input! I think you make a lot of good, valid points. I agree that lots of people gamble for entertainment, and that probably provides a large chunk of profit for the casinos.

I plan on being patient, and not getting greedy. That's how I'll come out ahead in the long run. Thanks again!

I've been gambling off and on for about 15 years.  The house edge some others mention here is very important to be aware of.  Certain games are better than others and certain sites are better than others depending on the game.  You just have to shop around and play around at different sites to appreciate the differences.  

Don't take threads like this one or others where people may say "site 'X' is a cheater site."  If it's provably fair, then test it out and you should be able to prove valid bets.  Usually folks that claim a site is cheating is unaware of house edge calculations and bet/lost more than they ever should have.

Winning gambling can mean many different things.  In the long run and if you are patient, sure you can win.  But some people play simply for the game and for entertainment so "win" or "lose" is a matter of perspective.  

I'm probably even-Steven as far as my personal winnings go and I've played a fairly educated approach and of course I do try to win.  But regardless of my meager gain or even-Steven status, it has been a ton-o-fun and the free booze and entertainment at live casinos has been really cool.  

Whatever your path may be, educational discussions and other online educations are a great primer for the real thing.  Online can be just as social but I highly encourage some real life gambling and entertainment too.

I did, I made 0.00195 BTC.  On days 1 and 2 I made 0.00195 BTC, and I think I posted on the first or second page of the thread my day 1 profit.

Thanks!

i see that you didnt make any profit from the day 1 did you? if not why?