Pages:
Author

Topic: the odds of winning the casino (Read 16018 times)

legendary
Activity: 3514
Merit: 1280
English ⬄ Russian Translation Services
May 09, 2020, 11:05:10 AM
I'm not sure that higher odds (i.e. lower multipliers, or payouts) stand for a more aggressive approach, while lower odds for a more conservative one. As it seems to me, we can't actually draw such a distinction here (aggressive or conservative) when we refer to odds on their own. Personally, I would consider a more aggressive strategy the one which involves a higher percentage of your balance that you stake at each roll. Conversely, if you go small, that should be considered a more conservative strategy

Sorry for misunderstanding, higher odds = higher multipliers and payouts, along with higher bets you have really aggressive play

In dice higher odds, i.e. higher win chances, stand for lower multipliers, i.e. the amount received on a win (payout)

But enough nitpicking as this is not my point altogether. The heart of the matter, or point at stake if you please, is that no matter how high or low your payout, multiplier, or odds might be, over the course of your gambling life it all eventually comes down to the house edge (and whether you can live with it)

So we can't really say that we are betting more aggressively with higher multipliers than with lower ones, at least not if we make thousands and thousands of rolls. By extension, that basically means that it is the percentage of our balance at stake which is what defines the aggressiveness, or lack thereof, of the utilized strategy (aka risk exposure)
legendary
Activity: 3248
Merit: 1179
May 09, 2020, 01:07:41 AM

I'm not sure if this distinction is correct

I'm not sure that higher odds (i.e. lower multipliers, or payouts) stand for a more aggressive approach, while lower odds for a more conservative one. As it seems to me, we can't actually draw such a distinction here (aggressive or conservative) when we refer to odds on their own. Personally, I would consider a more aggressive strategy the one which involves a higher percentage of your balance that you stake at each roll. Conversely, if you go small, that should be considered a more conservative strategy

Sorry for misunderstanding, higher odds = higher multipliers and payouts, along with higher bets you have really aggressive play. I don't even use that word conservative, I took it from "seleme", I thought it will be easier for me to express myself! Sorry because I made a bit of confusion, you gave a nice explanation what is aggressive and what is "conservative" strategy, it's what I wanted to say.
Anyway my point is if you wish to win big you need to play aggressive in some moments! Of course everything depends on the game you choose to play, and only aggressive play will melt down your bankroll, only passive play will not bring some huge win, you need to mix that, and if you catch right moments you will make profit, if not you will lose a lot of money!
full member
Activity: 1148
Merit: 158
★Bitvest.io★ Play Plinko or Invest!
May 08, 2020, 08:49:30 AM
I like the way you calculate to win the casino, it looks promising. But don't be too optimistic beforehand, because the casino owner
must have realized that there must be some people who are trying to break up the casino formula he has. Therefore almost we certainly
likely always fail to defeat the house. Although successful it will certainly not last long.

This is so true, and this is the reason they own the casinos because at the end of the day they have to make profits and not do charity and some of them may be able to at times win it which is really good thing. But sometime things will change and if continue to gamble with big money people may lose it and this could be worst for those who have either got addicted to gambling by now or continue to still gamble inspite of several loses.

Casino is one of the best gambling games that a person will definite play. It is probably the most popular game to all gamblers because of the idea of winning a good shot of profits. Casino games for me isn't a stable game because it always depend on the numbers of players and it's winnings of each player. But some of the casino are actuay aim to earn profits by their players. And they actually have a goal in doing this business. Not just to give entertainment to players.

The odds of winning in casino games is 50-50 chance and always depends on you strategy and idea on how to handle your earnings and losses. You will need to provide a lot of time in playing in casino in order to get a enough profit. You must learn everything in order for you to win.
legendary
Activity: 3514
Merit: 1280
English ⬄ Russian Translation Services
May 08, 2020, 08:04:11 AM
In the end every hand is for itself, or every throw, or every spin, depending on the game you play! And for each bet on anything you choose your odds! You can't separate winning from losing in gambling, both plays important role, watching for long streaks of winning or loosing is important, you need to adjust your bets after long streaks! If you wish to be profitable in the end of the day you need to catch the right moment for aggressive play, when you rise your bets and odds, and win can bring you back what you lost and add some cherry on the top.
In long run casino wins, we can't compete with their bankroll, so once in a while take a break, change a game or casino.
Unfortunately, the chances of beating casinos are near zero, even if you are the luckiest person in the casino, hitting a 1000x bankroll win chance is not possible. Einstein has explained it well: "The only way to beat roulette is to steal money when the croupier isn't looking". Aggressive, progressive, conservative money management rules are forms of controlling your bankroll, it has no effect over winning/losing odds.

I can see you are not a gambler, aggressive or conservative has effect over your win/losing odds, simply it's basic in gambling, if you bet 1 at odd 2 you will win 1, if you play aggressive and you make higher bet on higher odds you will win more, or lose more

I'm not sure if this distinction is correct

I'm not sure that higher odds (i.e. lower multipliers, or payouts) stand for a more aggressive approach, while lower odds for a more conservative one. As it seems to me, we can't actually draw such a distinction here (aggressive or conservative) when we refer to odds on their own. Personally, I would consider a more aggressive strategy the one which involves a higher percentage of your balance that you stake at each roll. Conversely, if you go small, that should be considered a more conservative strategy
legendary
Activity: 3248
Merit: 1179
May 08, 2020, 07:01:14 AM
In the end every hand is for itself, or every throw, or every spin, depending on the game you play! And for each bet on anything you choose your odds! You can't separate winning from losing in gambling, both plays important role, watching for long streaks of winning or loosing is important, you need to adjust your bets after long streaks! If you wish to be profitable in the end of the day you need to catch the right moment for aggressive play, when you rise your bets and odds, and win can bring you back what you lost and add some cherry on the top.
In long run casino wins, we can't compete with their bankroll, so once in a while take a break, change a game or casino.
Unfortunately, the chances of beating casinos are near zero, even if you are the luckiest person in the casino, hitting a 1000x bankroll win chance is not possible. Einstein has explained it well: "The only way to beat roulette is to steal money when the croupier isn't looking". Aggressive, progressive, conservative money management rules are forms of controlling your bankroll, it has no effect over winning/losing odds.

I can see you are not a gambler, aggressive or conservative has effect over your win/losing odds, simply it's basic in gambling, if you bet 1 at odd 2 you will win 1, if you play aggressive and you make higher bet on higher odds you will win more, or lose more. As I said, catching the right moment is essential, and who gambles catch that moment from time to time and make money! If you play conservative with low odds you can win a lot of money, but you can't lose a lot either. Bottom line is what you do and how you do it will have effects on your bankroll, and winning/losing odds.
I said the same, chances of beating casino are low, but from time to time if you are lucky and you catch your moment with your gambling style you will win some nice amount that will cover everything you lost, and maybe put you in some profit. Happened to me to win over 1 btc with 0.05 (more or less starting bankroll).
legendary
Activity: 2772
Merit: 1028
Duelbits.com
May 08, 2020, 06:49:43 AM
In the end every hand is for itself, or every throw, or every spin, depending on the game you play! And for each bet on anything you choose your odds! You can't separate winning from losing in gambling, both plays important role, watching for long streaks of winning or loosing is important, you need to adjust your bets after long streaks! If you wish to be profitable in the end of the day you need to catch the right moment for aggressive play, when you rise your bets and odds, and win can bring you back what you lost and add some cherry on the top.
In long run casino wins, we can't compete with their bankroll, so once in a while take a break, change a game or casino.
Unfortunately, the chances of beating casinos are near zero, even if you are the luckiest person in the casino, hitting a 1000x bankroll win chance is not possible. Einstein has explained it well: "The only way to beat roulette is to steal money when the croupier isn't looking". Aggressive, progressive, conservative money management rules are forms of controlling your bankroll, it has no effect over winning/losing odds.
legendary
Activity: 3248
Merit: 1179
May 08, 2020, 04:52:41 AM
In the end every hand is for itself, or every throw, or every spin, depending on the game you play! And for each bet on anything you choose your odds! You can't separate winning from losing in gambling, both plays important role, watching for long streaks of winning or loosing is important, you need to adjust your bets after long streaks! If you wish to be profitable in the end of the day you need to catch the right moment for aggressive play, when you rise your bets and odds, and win can bring you back what you lost and add some cherry on the top.
In long run casino wins, we can't compete with their bankroll, so once in a while take a break, change a game or casino.
sr. member
Activity: 1512
Merit: 316
May 08, 2020, 03:49:43 AM
I like the way you calculate to win the casino, it looks promising. But don't be too optimistic beforehand, because the casino owner
must have realized that there must be some people who are trying to break up the casino formula he has. Therefore almost we certainly
likely always fail to defeat the house. Although successful it will certainly not last long.

This is so true, and this is the reason they own the casinos because at the end of the day they have to make profits and not do charity and some of them may be able to at times win it which is really good thing. But sometime things will change and if continue to gamble with big money people may lose it and this could be worst for those who have either got addicted to gambling by now or continue to still gamble inspite of several loses.
legendary
Activity: 2898
Merit: 1253
So anyway, I applied as a merit source :)
May 08, 2020, 02:36:03 AM
Any games that would give you big winning has a high house edge, sometimes people got attracted to the winning without realizing their chances of winning.
You might be knowing there are some noobs who think playing on a casino means making money either due to some false perception or someone told them to sign up using their affiliate link and said so and they believe it blindly. So its not uncommon to get people into wasting their money by showing them winnings. Thats also why casinos post about big wins in their social media channels but would not talk about big losses, you can understand it. Fact is that one needs to evaluate the fact that both sides are possible in any game Cheesy

Quote
The odds always defends on the certain kind of game you will play and whatever games it is, there's always a house edge if you are betting against the house.
The chances that the casino can lose are lower than the player but considering that the casino was been winning more frequently the average bet will lead to an accumulation of money thus a single loss in a hundred big wins for the casino is not something to be bothered about. Thats the edge the house has over the players.
legendary
Activity: 2772
Merit: 1028
Duelbits.com
April 30, 2020, 07:59:25 PM
I like the way you calculate to win the casino, it looks promising. But don't be too optimistic beforehand, because the casino owner
must have realized that there must be some people who are trying to break up the casino formula he has. Therefore almost we certainly
likely always fail to defeat the house. Although successful it will certainly not last long.

The casino owner will not care if someone is able to win in his casino as long as the player is not using some form of cheating.The casino owner is assured from the house edge that in the long run the casino will come out as a winning business for him.For example if the casino has an house edge of 3% for every 100 Eur played the casino in the long run will keep 3 Eur which is profitable.

I want also to point out the most dangerous games with the lowest possibility to win are slot machines.I have played daily this month and I can assure you of this.
That is the reason behind slots' popularity, it is a double-edged sword. The high multiplier bet games have different house edge mechanics but the slots have the lowest probability of winning if you compare the Blakcjack or roulette with slot's payout rates minus house edge. One big win alert means the random chain of won Jackpot has been reset for the new target, there are movies about the complicated cheating methods of slot machines too.
legendary
Activity: 3514
Merit: 1280
English ⬄ Russian Translation Services
April 30, 2020, 11:14:02 AM
The casino owner will not care if someone is able to win in his casino as long as the player is not using some form of cheating.The casino owner is assured from the house edge that in the long run the casino will come out as a winning business for him.For example if the casino has an house edge of 3% for every 100 Eur played the casino in the long run will keep 3 Eur which is profitable

The reality of gambling, however, is more complicated than that

It would be as simple as you think it is if the casino's profits were set in stone (like 3 euro per 100 wagered or so). But in real life, it is far from that. Variance which players have to deal with can play really weird tricks on a casino too. Let's not forget that there are deep pockets out there, who can easily stake more than a particular casino can cope with

And if these pockets are lucky, they can ruin the casino in a plenty legitimate way, i.e. without cheating. Many a casino went bust in the past due to poor bankroll management (what I'm talking about here). The takeaway is that this business is not a piece of cake as so many people erroneously assume 
hero member
Activity: 2982
Merit: 610
April 30, 2020, 05:23:12 AM
I like the way you calculate to win the casino, it looks promising. But don't be too optimistic beforehand, because the casino owner
must have realized that there must be some people who are trying to break up the casino formula he has. Therefore almost we certainly
likely always fail to defeat the house. Although successful it will certainly not last long.

The casino owner will not care if someone is able to win in his casino as long as the player is not using some form of cheating.The casino owner is assured from the house edge that in the long run the casino will come out as a winning business for him.For example if the casino has an house edge of 3% for every 100 Eur played the casino in the long run will keep 3 Eur which is profitable.

I want also to point out the most dangerous games with the lowest possibility to win are slot machines.I have played daily this month and I can assure you of this.

Any games that would give you big winning has a high house edge, sometimes people got attracted to the winning without realizing their chances of winning. The odds always defends on the certain kind of game you will play and whatever games it is, there's always a house edge if you are betting against the house.
legendary
Activity: 3136
Merit: 1233
Bitcoin Casino Est. 2013
April 30, 2020, 04:35:23 AM
I like the way you calculate to win the casino, it looks promising. But don't be too optimistic beforehand, because the casino owner
must have realized that there must be some people who are trying to break up the casino formula he has. Therefore almost we certainly
likely always fail to defeat the house. Although successful it will certainly not last long.

The casino owner will not care if someone is able to win in his casino as long as the player is not using some form of cheating.The casino owner is assured from the house edge that in the long run the casino will come out as a winning business for him.For example if the casino has an house edge of 3% for every 100 Eur played the casino in the long run will keep 3 Eur which is profitable.

I want also to point out the most dangerous games with the lowest possibility to win are slot machines.I have played daily this month and I can assure you of this.
full member
Activity: 1190
Merit: 117
April 29, 2020, 06:23:43 PM
I like the way you calculate to win the casino, it looks promising. But don't be too optimistic beforehand, because the casino owner
must have realized that there must be some people who are trying to break up the casino formula he has. Therefore almost we certainly
likely always fail to defeat the house. Although successful it will certainly not last long.
hero member
Activity: 2954
Merit: 672
Message @Hhampuz if you are looking for a CM!
April 29, 2020, 06:23:17 PM
Sports betting is one of the few gambling games in which you can beat the house despite the house edge that is playing against you,
Wrong, sports betting has no house edge, you can pick the odds and increase it so you'll not going to pay for the commission they usually take from the winning bet. If you notice, most standard odds are around 1.85 to 1.90, that's because they take 10% to 15% commission, but if you'll take 200% up, you'll never gonna pay any if you win.
hero member
Activity: 2884
Merit: 794
I am terrible at Fantasy Football!!!
April 29, 2020, 05:58:56 PM
Sportsbetting is more accurate instead of other betting platforms of casino like slot games. Your skills of analysis will be more enhanced compared with other lucky betting bets. The most important aspect to have is knowing your best pick of the game in order to come up with a potential set play to catch the wins.
I would certainly agree with that as sports betting is a game where you can use your skills if you want to be successful in the long run.
There's different type of games but as long as there is a house edge, never expect that you'll win in the long run and most of us would certainly loss as we don't want to stop easily, we like to gamble as long as we can trying to find that strategy to win consistently, but it will never happen with luck based games.
Sports betting is one of the few gambling games in which you can beat the house despite the house edge that is playing against you, but that is only possible if you are an expert on a particular sport and you are able to detect the games which have the best odds and you use money management principles to keep your losses as small as possible so eventually your edge can show up on your results and you begin to earn money, but as you can see it is not easy at all and it is why very few people are successful at sport betting despite all of their efforts.
newbie
Activity: 1
Merit: 0
April 29, 2020, 04:47:36 PM
Your calculations are really nice once in a while. It would definitely come in handy when I decided to try my luck in online casino for the first time Grin Fortunately I've chosen to play in 7bitcasino so the risks were minimal. Btw I wouldn't certainly agree that all depends on the luck. Of course, there're some people that are more lucky than others  but that doesn't mean your skills don't matter at all...
hero member
Activity: 1862
Merit: 830
April 29, 2020, 03:41:53 PM
One have to talk about probability here .
In simpler terms , if you are playing a game in the casino where you are rolling a dice and you have placed your bets on one number .

The odds will be 1/6 .  16.6% .

If you are playing a more complicated game , let's take 2 dices . It will be , 1/6*1/6

1/12 - 8.3% .

The more complex the game is the harder it is to win , with cards you have to use computation and one can easily calculate your odds of winning which are not very good :') .

You need luck man 😂 , either luck or you need an amazing computational mind ( which in most casinos is banned ) .

Maths+ casinos never mix.
sr. member
Activity: 2828
Merit: 357
Eloncoin.org - Mars, here we come!
March 11, 2020, 02:57:20 AM
there are couple of games on your list that i don't even heard,can you please state from which country those games from?

i am Asian and we already have so many Gambling originated in our country .



but yeah i agree that the Odds is very important for each gamblers because this will determine their chances of bringing money Home.
I think the odds of winning the casino is 0.  Have anyone of us heard of a casino that gives their establishment as a reward in their gambling games?  (just playing around the title.  Grin
this stands for not a total gambler because only relying in Luck to win and does not care if he will have or not important thing is they are enjoying the game.
full member
Activity: 742
Merit: 160
March 11, 2020, 02:41:58 AM
it is very important that you take chances of winning and profit into consideration  once you decide to try your luck.
the other major factor that should be taken care of in the process of choosing the ideal casino in which you will play is the limit of the house .
for example when the currency is tossed into the air you know in advance that the chances of winning or losing are completely fixed at 1:2 or 50%-50%.
the same rules have been applied to gambling games .
in the online casino on the assumption that the roulette wheel has a 37_38 slot and that the standard playing standard for the card games package is 52 cards and that the dice has 6 faces .
in the case of US roulette the home limit is 5.6 which means that for every 100-unit  bet;5.6
blackjack is considered one of the best options ,offering the game with a home edge of only 0.80%.
the edge of the house in some other gambling games in the online casino sites:
baccarat1.17%
bikarat 1.63%
game joe poker 2.5%
by taking the numbers and ratios mentioned above ,we recommend focusing on playing craps ,blackjack and then the game of parkras.
if you are interested in playing a profitable game.

players who merge into the account of all options are quickly tired


I already read a thread related to this thread but anyway, it is really important that you know what gambling sites you are going to play, you should choose those gambling sites that you have more chance to win the game, there are a lot of games which you can have more chance to win the game, just like what you have said, but the thing about those gambling sites or real casino with high chance of winning the game have low prize compared to others, well that is the nature of every gambling, the owner of the gambling sites or the casino meant that thing for them to earn more than those winners of the game

For me it is better to chance to play games with low prize because at least you will earn from that, and if you are continuous playing it, then your money will increase more.

Here is the link that is related to that thread:
https://bitcointalksearch.org/topic/know-what-games-have-the-best-odds-5227731
Pages:
Jump to: