Topic: No bet is a waste (Read 4329 times)

No bet is going to be a waste as much as we are being informed about the fact that gambling is for fun and not for making money, then in whatsoever thing that happens while we are gambling, we are going to take it as it is like that, we must not be ready or eager to make money out of what is not sure, because in gambling, there is high probability for losing than winning.

I believe you meant that they would realize that it's almost as good as impossible to beat the casino, and upon this realization, they wouldn't waste their money chasing something they know they can not achieve, or have little chances of..

If the above is what you meant, then you are right, but in the other hand, I've always believe that when it comes to gambling saying the house always wins, it's more on the general aspect and not on individual level.

When it comes to individuals levels, it's kind of possible for a very lucky gamblers to beat the house, but this is if he or she will completely give up and stop gambling after the win, else, he just might end up losing everything he had initially won back to the casino, which then will prove that indeed, the house is always the winner.

What I did say for certain is that, the house have far more chances of winning over the gamblers, like let's say 90 percent to them and 10 percent to the gamblers, this is speaking from individual perspective though.

I suppose you meant the positive ratio? Yes, the house always wins, that's no news. Despite that, I am certain that it is only in casino games they have an unfair advantage, not in sports betting. That is why you should have defined your ratio meaning better. Is it for the house advantage or the general winning result?

The sports bookies have a 50/50 chance with the gambler, so we are taking the same risk. If the gambler is good with his prediction and management, the house can feel the heat too. However, due to greed and lack of preparedness, they mostly give more winning to the house.

If people who want to beat the casino studied some parts of probability theory, they could save a lot of money. 

People are not able to catch this small yet impactful point. They need to limit their gambling habits and do analysis of their previous bets. They also need to understand that gambling is all about luck. So if your luck is not good, then you can’t recover the losses you made through gambling. I also believe that no bet is waste, as from each bet you get to understand the platform and market better. But it’s wiser to learn from others’s mistakes than to do the mistake yourself and then learn from it.

This is a wise talk and it is good we try as much to ask questions before continue gambling. Every gamblers need to have a gambling plans which will aid in knowing whether we are winning or losing. I have taking records of all my gambling deposits, loses and wins to checkmate whether I am winning or losing. It will be a bad attitude for us to be gambling without taking recirdds of all our bets.
In as much as we want to make making profits, it is good we take records too so we can know whether we are winning or losing as gamblers.

In the case of gambling (casino games, like Plinko, dices, blackjack and other similar to those) it is not so there is some house edge, in order for the casino to continue to be profitable in the long run, there is no secret about it. Though, when we talk about betting, specially sport-betting, there are casinos which make a profit from charging a small fee from bettor who decide to enter their market and bet on it, it's not necessarily about the house having a edge.
In that sense, you should not feel discouraged from betting if there are sports you like and if you have some change in your pockets, in the end, winners from bets get their money from those who guessed wrongly and not directly from the trunks of the casino itself.

In any case, the ratio is always on the side of the casino...

You have a good point, bro. Yes, like you said, what makes a lost bet waste the money he or she has lost previously. Yes, it is correct. Most people don't think like that, although the rate at which gamblers lose money by gambling is way much bigger than the winning. If you sometimes calculate the amount of money we have used to stake our lost bets, I assure you that it could be more than a thousand BTC.

Any gambler who wins more than he has lost by gambling has a lucky charm lol ( gambling is gambling. Lucky charms don't work.)

The way of deposit was varied over a period in the gambling,before it was offline gambling.Now it was changed to the online type,the deposit money also changed from the fiat to the crypto currency now.Like wise the participation of the gamblers also increased over 10x from the old times,the winning money also increased based on the deposit money.For this reason,I had come across one news of one guy had won 600k dollars from the lottery.The winning money based on the number of people and deposit to that game.It will vary to every game in the gambling sites and the lottery is all the time maximum money giving jackpot to gamblers.

Minority have that potential while the majority surely lose a lot, that's how gambling works the very reason why we keep seeing lots of new gambling site that being offered, they are trying to attract people to test their site and give them bonus or welcome bonuses to experienced the games, from that view, once a person got attached the potential profits will start, though some may have that good control over their emotions but for most, aggressiveness will start to build up.

Sure thing after that, suffering from heavy engagements with gambling and instead of enjoying, you will keep on chasing your losses and suddenly you will add more.

Well, that's nothing but an advantage created by the casino and for the casino itself, they want you to lose and therefore they will make a profit there, obviously that's what the casino always wants. Therefore before you really jump in there it is better to know most of the risks, they know that lately they have suffered a lot of defeats therefore instead of you continuing to do it and causing more losses it is better for you to rest first Formerly. Gambling is very draining, especially mentally and psychologically it will obviously be very disturbed, especially with the many losses there, so the best option you can take is just to rest and come back again if your situation is better. Yes, I agree with you, they can also reduce the amount of bets, instead of continuing to look for a win, it is better for you to minimize the level of risk, because if luck is on your side then you will be able to get that win. So don't overdo it, I'm sure you care and know what's best for yourself.

Taking a break from gambling is a wise choice for people who are always on a losing streak. Because why force us to continue playing if we already realize that we are always in unlucky circumstances? It would be better if we leave and come back at a later time, who knows we are lucky to be on our side when we return. And indeed I usually feel like that too, when I lose streak and I decide to rest when I come back the situation is better than before.
We also have to have rules for ourselves, don't let us get stuck in a situation where it's difficult for us.

I have simple formula to understand this. The bets that are getting to waste are nothing but the house edge of the casino. I mean you only keep losing until House edge is not in effect and until you do not end up profiting yourself. If you are continually losing the bets and never reach even initial amount of investment then definitely this is going to be complete waste of bet. The only way to keep it up is through playing smaller amounts, gaining profits and stopping the bets right there. Once done a new session shall be started on different time of the day or possibly on another day itself. This is important because these break cycles can help a lot to keep oneself active and winning all the time. More Break Less Waste of Bet.

Unfortunately, making sure that our winning proposition outweighs over losing percentage is not in our hands to decide, but solely in the hands of luck and maybe the casino or game provider, for games that are not provably fair..
This I say in respect to casino games, and also slot games, and every other games that does not require the player to possess some skills or techniques that will help them win, like the lotteries for example.
For those that are mainly into sports betting, they do have an edge most especially if they are very good at predicting the outcome of sports event, but again, lock is still a vital to to help make sure that they are winnings outweighs theirs losses.

And let me also mention that, gambling is not all about making as much money as possible, if this is how you see gambling, then permit me to tell you that not everyone sees gambling that same way, there are some who still Gamble mainly for the purpose of having fun and not just about making money, even though I believe they're just a few people in this category,  they are still worth putting into consideration and discussion, not disregarded or invalidated.

That's why old gamblers always say that before gambling, understand the risk first, that we can lose the money we are risking, because if you only regret the loss and realize the risks, why should you harbor regrets, always be reminded everywhere that you should gamble wisely, let alone gamble with money you don't use? or money you can afford to lose or spend within budget constraints.

Never use money that is usually used for the necessities of life, that's why never gamble to seek wealth, because gambling is only for fun where we have to pay for something fun, not to seek wealth let alone a source of income, gambling must be with a healthy mindset So don't gamble if you are poor or if your status is still in lower middle class society, you should use your money for investment. Don't gamble if you are afraid of the risks.

Being in the space for decades has taught us the modes and operations of the gambling system, as well as given me greater familiarity with the system's transactions. We play, which results in either winning or a loss, but we must ensure that our winning proportion outweighs our losing percentage. When we're familiar with the space, we all know what we're signing up for when we gamble. We bet on games for the purpose to make as much money as possible. Gamblers have targets in the system as a whole, and the vast majority of them have techniques that can result in substantial benefits, while the majority have nothing at all.

I understand what you are saying. however, when someone gets a big win in gambling, they cannot take advantage of that moment/win, which should be when they get a win in gambling, it should be able to improve their standard of living by allocating that money to things that are more beneficial, such as creating a new business . However, what happens to most people who gamble when they get a big win at gambling is that it makes them even crazier at gambling by continuing to double the bets they make. Which in the end the money from the victory is sucked back into gambling, and the winnings they get will only be wasted.

What I hope is that they can think more clearly not to expect big wins in gambling by continuing to wait for luck to come. Keep in mind that gambling is entertainment and not for profit, let alone a job. Because there are still many people who can't afford to hope for luck in gambling by spending time just tinkering with numbers. In fact, there is something more useful and promising, namely working and continuing to improve your abilities and creativity to create a business. There's nothing wrong with gambling, but play gambling when you have free time, don't spend time gambling and leave your obligations and work for gambling. And don't we all want to be wiser gambling players?

There may be very few gamblers to whom the loss does not mean much to them. They are the ones who are usually rich gamblers and losing money does not matter much to them.

However, the majority of the gamblers are middle class and cannot afford to lose and when they lose they will feel regret and sorrow. I haven't seen a gambler in my life who loses money in gambling and his mood and emotions remain the same as it was before gambling. I wish i become one of those to whom losing money would not matter. 

No, the two cannot be balanced, one must have upper edge over the other, we most likely have the possibility of loosing than winning when we gamble, this is very common and most applicable with all gamblers.


Aside from considering the amount being loosed on each bet we made while gambling, there are gamblers who don't mind about the rate of amount being lost on gambling as long as they get their maximum satisfaction while gambling, which means not everyone gambles.