Does anyone here really utilize these online crypto casinos to place bets in bitcoin and have you had much luck with it? What have you found to give you the best odds in winning? Is there any skill involved in any of their games or is it all purely chance?
It probably depends on the game. For instance, when there's a high house edge, especially in games like roulette, it's pretty much considered a luck-based game. That means you don't need skills to win; you just have to be lucky.
Now, if you're thinking about expecting consistent wins, well, I'd say that's a bit delusional and unrealistic. Just because you experience a win doesn't mean you'll win the next time. Most of the time, the house edge ends up being the winner, and we're not on that side.
The "skill" in playing casino games is to make yourself lose less than what you would have actually lost if you continued playing. I mainly play Craps, which could be played by using "strategies", but because of the house edge, all Craps players are long term losers regardless of the strategy used. If you are in any profit after playing your whole deposit, then consider it lucky day.
IE if you deposit $100.00 and play Craps for $1.00 per throw for 100 throws, after going through your $100.00 and you have at least $1.00 profit, you withdraw no matter how you feel and do it again the next day.
I guess games can vary a lot from one another. When you mention a "house edge," it becomes really tough to come out ahead in the long run. Even in games with a house edge of less than 1%, winning consistently can feel almost impossible. Sure, there are those moments of luck when we stop and enjoy our winnings, but more often than not, we find ourselves back at it the next day, and sadly, the outcome tends not to be the same all the time so we lose.
It's precisely why, in my opinion, "the skill" in casino games is in trying to "lose less than what you probably would have lost", and preserve capital to have enough to play for the next day. If you're going to lose because of house edge, try to lose slower and lose less. You could get a lucky streak and win back all of your losses, or probably come out a winner.
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Now, when it comes to skills, poker and sports betting are a different story. I do believe it's possible to win in these areas. What do you think?
There are research papers that say a person has a higher probability to get out in profit from playing casino games than from trading.
