The House always wins. - page 12. | Bitcointalksearch.org

jhenfelipe

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Quote from: pooya87 on September 17, 2016, 12:53:08 AM

Quote from: jhenfelipe on September 16, 2016, 08:30:31 PM

Quote from: Nimbulan on September 16, 2016, 07:46:10 PM

Quote from: ethereumhunter on September 14, 2016, 03:06:44 AM

Quote from: crairezx20 on September 11, 2016, 12:25:23 PM

Quote from: ethereumhunter on September 11, 2016, 09:38:22 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.

The_Dark_Knight

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Activity: 840

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Quote from: Maslate on September 16, 2016, 01:55:59 AM

Quote from: The_Dark_Knight on September 15, 2016, 09:52:22 PM

Quote from: dinda22 on September 14, 2016, 02:19:33 PM

Quote from: Bitcoinsummoner on September 14, 2016, 01:55:04 PM

Quote from: btc-facebook on September 14, 2016, 12:20:30 PM

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

pooya87

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Activity: 3472

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Quote from: jhenfelipe on September 16, 2016, 08:30:31 PM

Quote from: Nimbulan on September 16, 2016, 07:46:10 PM

Quote from: ethereumhunter on September 14, 2016, 03:06:44 AM

Quote from: crairezx20 on September 11, 2016, 12:25:23 PM

Quote from: ethereumhunter on September 11, 2016, 09:38:22 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.

jhenfelipe

hero member

Activity: 1372

Merit: 647

Quote from: Nimbulan on September 16, 2016, 07:46:10 PM

Quote from: ethereumhunter on September 14, 2016, 03:06:44 AM

Quote from: crairezx20 on September 11, 2016, 12:25:23 PM

Quote from: ethereumhunter on September 11, 2016, 09:38:22 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.

Viyamore

hero member

Activity: 658

Merit: 500

Quote from: btc-facebook on September 14, 2016, 12:20:30 PM

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 i agree chief ,it all depends on what game and what site did you play on. But somehow its also a True that Gambling house or the owner wins as a big chance about 80% especially on dice games ,slots etc.. which only the computer setting or setup is the who battles your skill and luck. Some sites and other games only 50-50% chances of winning and the house only earn from deposits and withdrawals .

Nimbulan

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Activity: 658

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Quote from: ethereumhunter on September 14, 2016, 03:06:44 AM

Quote from: crairezx20 on September 11, 2016, 12:25:23 PM

Quote from: ethereumhunter on September 11, 2016, 09:38:22 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

machinek20

hero member

Activity: 840

Merit: 501

It is true, no matter what site you are playing, the house is always win, they already created a system that can minimalized their casualties, so dont get too greedy whenever you gamble, you going to end up crying in the corner if you try to win from the house

amacar2

legendary

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Quote from: btc-facebook on September 14, 2016, 12:20:30 PM

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 ?

Even if sites/games are not rigged, chance of house winning will be always high with odds they offer and house edge they have even when you win. Another factor that makes site win is the greed every normal human being have whenever they win or panic to recover loss when they loss.

Altogether i also think House Always Wins slogan is right.

MONKEYJUNK

sr. member

Activity: 434

Merit: 250

Quote from: Maslate on September 16, 2016, 01:55:59 AM

Quote from: The_Dark_Knight on September 15, 2016, 09:52:22 PM

Quote from: dinda22 on September 14, 2016, 02:19:33 PM

Quote from: Bitcoinsummoner on September 14, 2016, 01:55:04 PM

Quote from: btc-facebook on September 14, 2016, 12:20:30 PM

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?

The house always will win, poker are player vs player but the house have a rake(5%-10%)... dice games have ~2% of edge... and in sporting bet you can calculate the edge too... the house will always win... maybe you can bet in more than one house to explore...

Maslate

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Quote from: The_Dark_Knight on September 15, 2016, 09:52:22 PM

Quote from: dinda22 on September 14, 2016, 02:19:33 PM

Quote from: Bitcoinsummoner on September 14, 2016, 01:55:04 PM

Quote from: btc-facebook on September 14, 2016, 12:20:30 PM

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?

The_Dark_Knight

hero member

Activity: 840

Merit: 502

Quote from: dinda22 on September 14, 2016, 02:19:33 PM

Quote from: Bitcoinsummoner on September 14, 2016, 01:55:04 PM

Quote from: btc-facebook on September 14, 2016, 12:20:30 PM

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.

hua_hui

legendary

Activity: 1386

Merit: 1016

Why did so many casino appear, one after another in the real world? It is because they are making huge money and the profit is crazy so a lot of people want to take the profit pie. This goes to show how hard is it for the gambler to win against the house. It is not easy to win but there are some cases whereby the gambler manage to win. But in the long run, they will end up losing it back to casino.

Vhern

sr. member

Activity: 322

Merit: 250

Quote from: dinda22 on September 14, 2016, 02:19:33 PM

Quote from: Bitcoinsummoner on September 14, 2016, 01:55:04 PM

Quote from: btc-facebook on September 14, 2016, 12:20:30 PM

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.

People come back because they have chance to win in short term... You can win a straight of 5x of a 48/52...
And in a long term you will win 4800 and lose 5200... Wink

Poker/Sports requires knowledge... Other gambles are just lucky...

dinda22

legendary

Activity: 1232

Merit: 1000

Quote from: Bitcoinsummoner on September 14, 2016, 01:55:04 PM

Quote from: btc-facebook on September 14, 2016, 12:20:30 PM

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.

rickadone

legendary

Activity: 1176

Merit: 1024

Quote from: upsidedown75 on September 14, 2016, 02:06:14 PM

Quote from: btc-facebook on September 14, 2016, 12:20:30 PM

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 ?

Yes, it is a mystery why gamblers are keep on gambling among many losses. I do see people are going for gambling with a loan money. It means they are expecting something else other than winning from gambling. This shows almost every gambler is going for gambling not just for winning some bitcoins but the purpose of getting them selves entertained.

If this is true, then there will not be any frustrated gambler after his gambling hours. But we do see many gamblers are sharing their big losses with gambling. There will be only very low percentage of gamblers are going for it with the intention of gaining fun. Other people are going with the intention of making money even they have found the house always win.

upsidedown75

legendary

Activity: 1288

Merit: 1036

Quote from: btc-facebook on September 14, 2016, 12:20:30 PM

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 ?

Yes, it is a mystery why gamblers are keep on gambling among many losses. I do see people are going for gambling with a loan money. It means they are expecting something else other than winning from gambling. This shows almost every gambler is going for gambling not just for winning some bitcoins but the purpose of getting them selves entertained.

Bitcoinsummoner

hero member

Activity: 1456

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Maintain Social Distance, Stay safe.

Quote from: btc-facebook on September 14, 2016, 12:20:30 PM

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..

ubitcoin

hero member

Activity: 686

Merit: 500

Quote from: btc-facebook on September 14, 2016, 12:20:30 PM

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 ?

Of course, the hope of winning will push gambler to try again. The hope of winning must be the root cause for gambling addiction, and even after winning a gambler will keep on playing to get more number of winning instead of quitting it. If there is no image like gambling is not giving free money, then there will be some chances that people will not have such meaningless hopes.

btc-facebook

legendary

Activity: 1862

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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 ?

fullypak

legendary

Activity: 1456

Merit: 1005

Quote from: bitcoinmasterlord on September 14, 2016, 06:12:56 AM

Quote from: digaran on September 14, 2016, 01:04:32 AM

Not true not always because if it was always then no one wanted to play and we wouldn't have so many online casinos around forums and on the internet.

I think you understand wrongly if there are many winners then you won't see many gambling houses but they are the winner at the end so you're seeing so many gambling houses on the internet and real ones. People knows that winning chances are very less in gambling but still they gamble because they think it is easy and fast way to earn money.

There are so many online gambling sites are coming because they know that if anyone gamble for a longer time, then they can win money so all casinos will try to come up with many new exciting games so that they can keep players busy and they can make a profit. In very rare cases gambling houses will lose money unless they mismanage things.

Topic: The House always wins. - page 12. (Read 8252 times)