The House always wins. - page 11. | Bitcointalksearch.org

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Quote from: sana54210 on September 29, 2016, 03:23:17 AM

Quote from: RealPhotoshoper on September 29, 2016, 02:50:28 AM

Quote from: bitcoinmasterlord on September 29, 2016, 02:29:54 AM

Quote from: danherbias07 on September 28, 2016, 09:42:27 AM

House will always win. I admire the effort done to explain this things and appreciate it. When I gamble and win like 3 rounds I start doubting, thinking I will lose the next 3 sets. So what do I do? I close the damn window and will just go back after 5 tob10 mins. It is just my own tactic and got used to it but still the house wins.

Whatever you do but finally house will win for sure if you play continuesly unless after you win and don't play for a couple of days or few days may be different. But I don't think any gambler will wait for few days comeback for playing. Just gamble with some fixed amount, if you win then lucky otherwise close for the day.

a simply explanation about how can the house always win is because it is the advantage for them.
i mean yeaaa gambling is abusiness sure there must be a profit.
The longer you play, the closer your losses will approach the house edge.

Yes. For a gambling house owner, gambling must be a business and he always wants to make profit from his business. The house edge always will be higher than the possibility of our winning chances, so we need to be extremely lucky in order to beat the house edge. It is not at all possible to happen so simply house edge always wins.

i believe that even without the house edge (meaning with 0 house edge) there is still no chance of winning in long term in a lot of these games like dice. because of the way they are designed.

the house edge is nothing, it only changes the chances of win/lose a little bit and if you have tried any of the sites that had 0 house edge in their start up you can actually try thing in real time action and figure it out.

sana54210

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Quote from: RealPhotoshoper on September 29, 2016, 02:50:28 AM

Quote from: bitcoinmasterlord on September 29, 2016, 02:29:54 AM

Quote from: danherbias07 on September 28, 2016, 09:42:27 AM

House will always win. I admire the effort done to explain this things and appreciate it. When I gamble and win like 3 rounds I start doubting, thinking I will lose the next 3 sets. So what do I do? I close the damn window and will just go back after 5 tob10 mins. It is just my own tactic and got used to it but still the house wins.

Whatever you do but finally house will win for sure if you play continuesly unless after you win and don't play for a couple of days or few days may be different. But I don't think any gambler will wait for few days comeback for playing. Just gamble with some fixed amount, if you win then lucky otherwise close for the day.

a simply explanation about how can the house always win is because it is the advantage for them.
i mean yeaaa gambling is abusiness sure there must be a profit.
The longer you play, the closer your losses will approach the house edge.

Yes. For a gambling house owner, gambling must be a business and he always wants to make profit from his business. The house edge always will be higher than the possibility of our winning chances, so we need to be extremely lucky in order to beat the house edge. It is not at all possible to happen so simply house edge always wins.

RealPhotoshoper

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Quote from: bitcoinmasterlord on September 29, 2016, 02:29:54 AM

Quote from: danherbias07 on September 28, 2016, 09:42:27 AM

House will always win. I admire the effort done to explain this things and appreciate it. When I gamble and win like 3 rounds I start doubting, thinking I will lose the next 3 sets. So what do I do? I close the damn window and will just go back after 5 tob10 mins. It is just my own tactic and got used to it but still the house wins.

Whatever you do but finally house will win for sure if you play continuesly unless after you win and don't play for a couple of days or few days may be different. But I don't think any gambler will wait for few days comeback for playing. Just gamble with some fixed amount, if you win then lucky otherwise close for the day.

a simply explanation about how can the house always win is because it is the advantage for them.
i mean yeaaa gambling is abusiness sure there must be a profit.
The longer you play, the closer your losses will approach the house edge.

noictib

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i know about this stretgy of betting with btc autopilot in the freebitco.in . but sometimes this trick always results in the loss of whole btc . because we can loss our money with small btc . for the sure winning with this trick we need to deposit btc in bulk . so it is not easy for everyone to deposit thus amount if btc .

Golftech

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Quote from: bitcoinmasterlord on September 29, 2016, 02:29:54 AM

Quote from: danherbias07 on September 28, 2016, 09:42:27 AM

House will always win. I admire the effort done to explain this things and appreciate it. When I gamble and win like 3 rounds I start doubting, thinking I will lose the next 3 sets. So what do I do? I close the damn window and will just go back after 5 tob10 mins. It is just my own tactic and got used to it but still the house wins.

Whatever you do but finally house will win for sure if you play continuesly unless after you win and don't play for a couple of days or few days may be different. But I don't think any gambler will wait for few days comeback for playing. Just gamble with some fixed amount, if you win then lucky otherwise close for the day.

thats right buds gambling is so addicting and i think even getting the chance to win gambler will go back and play again until the winnings will be burned again and start to lose together with their money and sad thing is when they loses they will blame the house because it really design for taking care of the business.

bitcoinmasterlord

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Quote from: danherbias07 on September 28, 2016, 09:42:27 AM

House will always win. I admire the effort done to explain this things and appreciate it. When I gamble and win like 3 rounds I start doubting, thinking I will lose the next 3 sets. So what do I do? I close the damn window and will just go back after 5 tob10 mins. It is just my own tactic and got used to it but still the house wins.

Whatever you do but finally house will win for sure if you play continuesly unless after you win and don't play for a couple of days or few days may be different. But I don't think any gambler will wait for few days comeback for playing. Just gamble with some fixed amount, if you win then lucky otherwise close for the day.

vaccin

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It's the same with math odds in poker. In the long run, you'll win if you do the math properly.
House never loses.

NorrisK

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There is a reason that the house always wins and it is a simple one: The house edge. They have a fixed additional chance to win on any bet that you accept when you are playing. You can hypothesize all you want about manipulation, but the simple fact is that they just have a slightly higher chance to win.

In addition, many players follow bad strategy which boosts their profits even more. Small wins followed by big losses is happening all the time and this is how the casinos make their big money.

futurebit640

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The house has control of slot games. If we play with a small amount, the result is a favor to us. Suppose if we play with the high amount the result will be a loss. It is for to house edge. How it's possible I am not understanding. Did anyone watching our bet's or the developers have created the site like this? I am confusing. I had faced this type of situation in Dice game.

MONKEYJUNK

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Quote from: danherbias07 on September 28, 2016, 09:42:27 AM

House will always win. I admire the effort done to explain this things and appreciate it. When I gamble and win like 3 rounds I start doubting, thinking I will lose the next 3 sets. So what do I do? I close the damn window and will just go back after 5 tob10 mins. It is just my own tactic and got used to it but still the house wins.

So there's no point in close the windows and back after 5 minutes lol
A lot of people have superstitions, crazy ones sometimes... but in the end the best superstition to win is the edge Roll Eyes

danherbias07

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House will always win. I admire the effort done to explain this things and appreciate it. When I gamble and win like 3 rounds I start doubting, thinking I will lose the next 3 sets. So what do I do? I close the damn window and will just go back after 5 tob10 mins. It is just my own tactic and got used to it but still the house wins.

2double0

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That is just because the house edge is designed so greatly that nobody can beat it in the long run. It is always observed by me that whenever I doubled, the house edge just killed the opportunity to make any more. So all I did is, created new account every time I doubled, deposited coins in other accounts, started with same capital and stopped with small profits because I stop when I feel I am satisfied with profits.

deadlyunknown

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Quote from: BTCevo on July 13, 2016, 08:34:29 AM

Quote from: Daffadile on July 12, 2016, 11:53:05 PM

You made 0.046 before you lost. If you had just done a 50/50 you would have had a better chance and you would have won 0.056. Because you lost you may as well had done a 50/50 then at least you have half a chance and you save 12 hours .....

AFAIK dice games never be on 50/50 because there is still.house edge which mean you will not have 50% chance on 2x odds, moreover OP play on that freebitco.in, what I do know that their site have higher odds so that means you eill have higher chance to lose rather than winning there

It's because site owners wants to make profit from all users' bets. That's why you can't see a single site that offers no house edge.

futurebit640

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Quote from: Zadicar on September 28, 2016, 07:15:17 AM

Quote from: pooya87 on September 16, 2016, 11:53:08 PM

Quote from: jhenfelipe on September 16, 2016, 07:30:31 PM

Quote from: Nimbulan on September 16, 2016, 06:46:10 PM

Quote from: ethereumhunter on September 14, 2016, 02:06:44 AM

Quote from: crairezx20 on September 11, 2016, 11:25:23 AM

Quote from: ethereumhunter on September 11, 2016, 08:38:22 AM

don't challenge the house because you can not win. the house is make rule, and always win on every games, better you challange other player and maybe you can get win with easy.

Yeah that is the advantage of gambling casino they are putting some house edge.. you will never win even you skilled thats why its always base in your luck.. so if you really want to defeat the house it takes a long time before you can defeat them..

don't take to long time to eat all of your money before you can defeat the house and it would not good for you, as your money will be empty so fast. better to challenge other player, who knows you have the good luck and can win the games.

well it depends on how much risks you will take, if you play with small money and dont risk too much then you will definitely not lose all your money fast, besides that i am pretty sure that house always wins in a really long run no matter what, if you want to beat the house then you should just gamble for a short period of time and get out until you are in profit and never gamble there

Agree with you Nimbulan. This is my point of view. In general (I mean all the players and not a specific person), I do agree that the house always wins in the long run. A specific person can win several times on a site. So let's say that this person is very lucky for a day or several days. Even that person is winning, other people are losing, that's for sure. It's even possible that their losses are greater than that specific person's winnings. So still, the house always wins.

the thing that you should always remember is that people who gamble are usually gambling for a long run. so they all fall under the category of losing and the house can beat everybody because of this simple fact. so even those specific persons who win in a day or several days even, they will continue gambling and end up losing.

This is the reality on gambling industry which people would continue to play every other day even if they lose or even win because they are aiming for profits. If they win on that day for sure they would return and loses back all his winning including his capital which is a normal thing on gambling.

I agree that in long run process the house will beat us easily. And losing chances is very high. So better play with other players or do sports betting. Here house will not do anything. They only have control on odds that's it. Winning will depend on the real game. When I play slot games, i never made any profit. It is always favoured to house edge.

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Quote from: pooya87 on September 16, 2016, 11:53:08 PM

Quote from: jhenfelipe on September 16, 2016, 07:30:31 PM

Quote from: Nimbulan on September 16, 2016, 06:46:10 PM

Quote from: ethereumhunter on September 14, 2016, 02:06:44 AM

Quote from: crairezx20 on September 11, 2016, 11:25:23 AM

Quote from: ethereumhunter on September 11, 2016, 08:38:22 AM

don't challenge the house because you can not win. the house is make rule, and always win on every games, better you challange other player and maybe you can get win with easy.

Yeah that is the advantage of gambling casino they are putting some house edge.. you will never win even you skilled thats why its always base in your luck.. so if you really want to defeat the house it takes a long time before you can defeat them..

don't take to long time to eat all of your money before you can defeat the house and it would not good for you, as your money will be empty so fast. better to challenge other player, who knows you have the good luck and can win the games.

well it depends on how much risks you will take, if you play with small money and dont risk too much then you will definitely not lose all your money fast, besides that i am pretty sure that house always wins in a really long run no matter what, if you want to beat the house then you should just gamble for a short period of time and get out until you are in profit and never gamble there

Agree with you Nimbulan. This is my point of view. In general (I mean all the players and not a specific person), I do agree that the house always wins in the long run. A specific person can win several times on a site. So let's say that this person is very lucky for a day or several days. Even that person is winning, other people are losing, that's for sure. It's even possible that their losses are greater than that specific person's winnings. So still, the house always wins.

the thing that you should always remember is that people who gamble are usually gambling for a long run. so they all fall under the category of losing and the house can beat everybody because of this simple fact. so even those specific persons who win in a day or several days even, they will continue gambling and end up losing.

This is the reality on gambling industry which people would continue to play every other day even if they lose or even win because they are aiming for profits. If they win on that day for sure they would return and loses back all his winning including his capital which is a normal thing on gambling.

roadbits

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Quote from: Caladonian on September 28, 2016, 12:19:02 AM

thats the real thing there mate after the calculation for sure many of us will be enlighten not because theres a much bigger possibilities that we can win playing sports betting house edge is unnoticeable and we keep playing with realizing that just like every casino does house edge still present thank you for sharing mate just to emphasized the house always win because they always have a shared in any game you played.

In Gambling if you calculate winning percentage, the house owners will get 80% and remaining 20% players will get. That is why they will invest a lot of money and create gambling sites. But this will not work for sports betting sites. In slot games, the house has control on our winnings but in sports betting it purely depends on the match.

Caladonian

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thats the real thing there mate after the calculation for sure many of us will be enlighten not because theres a much bigger possibilities that we can win playing sports betting house edge is unnoticeable and we keep playing with realizing that just like every casino does house edge still present thank you for sharing mate just to emphasized the house always win because they always have a shared in any game you played.

hua_hui

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Quote from: The_Dark_Knight on September 16, 2016, 11:53:39 PM

Quote from: Maslate on September 16, 2016, 12:55:59 AM

Quote from: The_Dark_Knight on September 15, 2016, 08:52:22 PM

Quote from: dinda22 on September 14, 2016, 01:19:33 PM

Quote from: Bitcoinsummoner on September 14, 2016, 12:55:04 PM

Quote from: btc-facebook on September 14, 2016, 11:20:30 AM

Depend on where do you play...
If the house always win why many player still playing around the that site ?
They still hope for winning ?

Yeah there is hope but i think they are not looking for a profit they are looking for entertainment thats why they are coming back to gamble again..
Its more loses than winning chance..

why there are still many who play because they still have a chance to earn a profit, although in the end the house always wins. therefore I do not like the games which has a house edge. I prefer to play sports betting. This pure knowledge and a little luck.

While it is true that in sports betting you can make money with the right skills, you are mistaken when you imply that sports betting does not have a house edge, there is a house edge in every bet that you make against the house, the only places where there is not a house edge are the sports exchange like betfair because you are betting against players, but unless they are really dumb they will set the odds in order to give themselves an edge.

Where is the house edge then, I think you are referring to juice which is normally 10% of your bets, but if you like you can always choose your bet and get the best odds of over 2, right?

Since you asked for it, I’m going to show to you how to calculate the house edge for sports betting, this is a long post so bear with me.

First of all let’s find a match to analyze I selected Leganes vs. Barcelona The match will happen tomorrow September 17 and I chose the odds from bet365

These are the Odds:

Barcelona:    1/5
Draw:    11/2
Leganes   14

Second we convert the UK fractional odds to decimal

Barcelona:    (1/5) + 1 = 1.2
Draw      (11/2) + 1 = 6.5
Leganes   14 + 1 = 15

Third convert it to percentage

Barcelona   100/1.2=83.33%
Draw      100/6.5=15.38%
Leganes   100/15=6.66%

Fourth we add the percentages

83.33% + 15.38% + 6.66% = 105.37%

If this was a fair bet this should have added to 100% but it did not

Fifth we subtract 100 from the result that we got in the last step to get the house edge

House Edge= 105.37% - 100%

House Edge =5.37%

Conclusion unless there is a mistake the house like in any other casino game has an edge, that does not mean that with skillful play the edge cannot be overcome, but I hope this post clarifies some misconceptions about sports betting

Nice calculation. It is funny how some people keep thinking there is no house edge for sport betting. Just because it is possible that people can profit from it, does not mean that there is no house edge. Otherwise how does the site make their money from. How are they able to come out with all these free deposit bonus and other promotion?

tabas

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Quote from: jhenfelipe on September 17, 2016, 12:01:23 AM

Quote from: pooya87 on September 16, 2016, 11:53:08 PM

Quote from: jhenfelipe on September 16, 2016, 07:30:31 PM

Quote from: Nimbulan on September 16, 2016, 06:46:10 PM

Quote from: ethereumhunter on September 14, 2016, 02:06:44 AM

Quote from: crairezx20 on September 11, 2016, 11:25:23 AM

Quote from: ethereumhunter on September 11, 2016, 08:38:22 AM

don't challenge the house because you can not win. the house is make rule, and always win on every games, better you challange other player and maybe you can get win with easy.

Yeah that is the advantage of gambling casino they are putting some house edge.. you will never win even you skilled thats why its always base in your luck.. so if you really want to defeat the house it takes a long time before you can defeat them..

don't take to long time to eat all of your money before you can defeat the house and it would not good for you, as your money will be empty so fast. better to challenge other player, who knows you have the good luck and can win the games.

well it depends on how much risks you will take, if you play with small money and dont risk too much then you will definitely not lose all your money fast, besides that i am pretty sure that house always wins in a really long run no matter what, if you want to beat the house then you should just gamble for a short period of time and get out until you are in profit and never gamble there

Agree with you Nimbulan. This is my point of view. In general (I mean all the players and not a specific person), I do agree that the house always wins in the long run. A specific person can win several times on a site. So let's say that this person is very lucky for a day or several days. Even that person is winning, other people are losing, that's for sure. It's even possible that their losses are greater than that specific person's winnings. So still, the house always wins.

the thing that you should always remember is that people who gamble are usually gambling for a long run. so they all fall under the category of losing and the house can beat everybody because of this simple fact. so even those specific persons who win in a day or several days even, they will continue gambling and end up losing.

Yeah, that's the sad truth. A gambler, especially those who are winning won't stop gambling. They might think that luck is on their side and of course due to that greed they end up losing. That's what happens usually on gamblers and I think self control and putting limits to ourselves can help us avoid losing so much money. Remember that Luck come and go, it's not with you always.

Yes it is making them more fierce to keep on gambling because they are thinking to be lucky on that day. But when their luckiness expired for sure they are going to be confident that they have a lot of funds for keep on gambling but as they are going to keep on losing they are not going to notice that they are losing it and the house is winning again.

MONKEYJUNK

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Activity: 434

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Quote from: The_Dark_Knight on September 16, 2016, 11:53:39 PM

Quote from: Maslate on September 16, 2016, 12:55:59 AM

Quote from: The_Dark_Knight on September 15, 2016, 08:52:22 PM

Quote from: dinda22 on September 14, 2016, 01:19:33 PM

Quote from: Bitcoinsummoner on September 14, 2016, 12:55:04 PM

Quote from: btc-facebook on September 14, 2016, 11:20:30 AM

Depend on where do you play...
If the house always win why many player still playing around the that site ?
They still hope for winning ?

Yeah there is hope but i think they are not looking for a profit they are looking for entertainment thats why they are coming back to gamble again..
Its more loses than winning chance..

why there are still many who play because they still have a chance to earn a profit, although in the end the house always wins. therefore I do not like the games which has a house edge. I prefer to play sports betting. This pure knowledge and a little luck.

While it is true that in sports betting you can make money with the right skills, you are mistaken when you imply that sports betting does not have a house edge, there is a house edge in every bet that you make against the house, the only places where there is not a house edge are the sports exchange like betfair because you are betting against players, but unless they are really dumb they will set the odds in order to give themselves an edge.

Where is the house edge then, I think you are referring to juice which is normally 10% of your bets, but if you like you can always choose your bet and get the best odds of over 2, right?

Since you asked for it, I’m going to show to you how to calculate the house edge for sports betting, this is a long post so bear with me.

First of all let’s find a match to analyze I selected Leganes vs. Barcelona The match will happen tomorrow September 17 and I chose the odds from bet365

These are the Odds:

Barcelona:    1/5
Draw:    11/2
Leganes   14

Second we convert the UK fractional odds to decimal

Barcelona:    (1/5) + 1 = 1.2
Draw      (11/2) + 1 = 6.5
Leganes   14 + 1 = 15

Third convert it to percentage

Barcelona   100/1.2=83.33%
Draw      100/6.5=15.38%
Leganes   100/15=6.66%

Fourth we add the percentages

83.33% + 15.38% + 6.66% = 105.37%

If this was a fair bet this should have added to 100% but it did not

Fifth we subtract 100 from the result that we got in the last step to get the house edge

House Edge= 105.37% - 100%

House Edge =5.37%

Conclusion unless there is a mistake the house like in any other casino game has an edge, that does not mean that with skillful play the edge cannot be overcome, but I hope this post clarifies some misconceptions about sports betting

Wow, thanks for the info The_Dark_Knight, I never knew how to calculate the edge of the house on betting sports...
And well, I think most of the players don't know or do not calculate this when they gamble, good reply! thank you!

Topic: The House always wins. - page 11. (Read 8267 times)