Using Coin Flips for Decisions? | Bitcointalksearch.org

albert0bsd

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Quote from: boyptc on November 26, 2024, 05:24:34 PM

And in sports betting, when you are not comfortable of what you're about to bet but you want to, you just flip the coin and follow the rest of your luck wherever it will lead you.

LOL hoping that don't lead to much losses

Quote from: Oasisman on November 26, 2024, 05:02:11 PM

Ya'll might not believe this, but coin flipping is actually a street gambling game here in PH. It is an illegal form of gambling and government are still continuing to pursuit this kind of activity. These gamblers usually use 3 coins to flip. I'm not sure about the mechanics, but I think the more you get heads, the more you win money. So, that 50/50 chances for this game may not be applicable.

Oh You unlocked a memory of my childhood, when i was a kid in some party in my house, some uncle did some kind of gambling game with three coins, It was actually funny because him was literally giving us some money, because the game wasn't biased or fixed.

Quote from: Ultegra134 on November 26, 2024, 04:36:11 PM

This 1% is enough to change the total outcome; it might seem insignificant, but 51/49 chances will have a completely different outcome. With that being said, I'm not surprised that there are still people who are completely unaware of it, including myself. I had no clue what the house edge was before I started gambling and being involved in this forum.

yes that can make difference in the very long run, I think that is difficult found a game where the house play over that small edge

boyptc

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I think that's one of the most common way for someone to answer a question when even themselves do not have an idea of what the answer would be.

That is the reason why this is a known strategy in gambling that you can just heads or tails and you'll get to have an answer after that flip.

And in sports betting, when you are not comfortable of what you're about to bet but you want to, you just flip the coin and follow the rest of your luck wherever it will lead you.

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Quote from: albert0bsd on November 26, 2024, 01:46:28 PM

But it got me thinking: Are there any users here who actually incorporate coin tosses into their gambling strategies?
I’d love to hear if anyone uses this simple tool for some Gambling decisions

Well actually I don't think I have tossed or flip a coin to make decisions in gambling before.. for me I see it as a waste of time when I can just bet without flipping a coin . Although me saying this, doesn't mean that others Cant do what pleases them. Just that sometimes these form of strategy is a kind of delay tactics to avoid addiction and losing more often.

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Quote from: albert0bsd on November 26, 2024, 01:46:28 PM

I was browsing through some topics here on the Gambling discussion board, looking for something interesting when I came across a locked thread with a comment that caught my attention:

Quote

Gambling as we know is a fifty by fifty chances of losing or wining

But it got me thinking: Are there any users here who actually incorporate coin tosses into their gambling strategies?
I’d love to hear if anyone uses this simple tool for some Gambling decisions

Ya'll might not believe this, but coin flipping is actually a street gambling game here in PH. It is an illegal form of gambling and government are still continuing to pursuit this kind of activity. These gamblers usually use 3 coins to flip. I'm not sure about the mechanics, but I think the more you get heads, the more you win money. So, that 50/50 chances for this game may not be applicable.
Anyway, I have never tried flipping a coin to make any decisions, even use it for gambling strategies.

HelliumZ

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When it is difficult to make a proper plan about a decision, initiatives are taken to implement the proper decision of the plan by simply tossing a coin. A team's fate is determined by tossing a coin at the start of a football or cricket game. In fortune telling by tossing a coin, it is believed that the one who has the best luck has the coin favored. Sometimes even if the coin is not in favor, if luck is good, you can win the bet or the game.

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Quote from: albert0bsd on November 26, 2024, 01:46:28 PM

~

Ok, that's just nitpicking. Pretty sure he just meant it in general lol. And no, I'm already gambling, why tf would I add another layer to it that provides absolutely no benefit to me or my bet. And would just needlessly take up time! It's not instant after all if you do it irl, and even doing it digitally would still make pauses to the session.

Sometimes though when I do bets on two teams that are of pretty close levels (according to me), I go to their Subreddits and check out the fans. Whoever syncs better with me (or just in general kinder-ish), that's who I bet for Tongue

.

jossiel

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Quote from: albert0bsd on November 26, 2024, 01:46:28 PM

But it got me thinking: Are there any users here who actually incorporate coin tosses into their gambling strategies?

I have done that many times and it's one of the decision makers whether I'd proceed and continue to gamble even if I am at losses or not.

Something such that when I can't decide for myself and that's why flipping a coin is the one who decides if I shall continue despite knowing that I might lose more.

Ultegra134

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In theory, a coin flip is supposedly 50/50 chances; there are only two outcomes, heads or tails. Although this is true, it's a common misconception that doesn't take into account the house edge. This 1% is enough to change the total outcome; it might seem insignificant, but 51/49 chances will have a completely different outcome. With that being said, I'm not surprised that there are still people who are completely unaware of it, including myself. I had no clue what the house edge was before I started gambling and being involved in this forum.

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Quote from: albert0bsd on November 26, 2024, 01:46:28 PM

But it got me thinking: Are there any users here who actually incorporate coin tosses into their gambling strategies?
I’d love to hear if anyone uses this simple tool for some Gambling decisions

Just like the earlier replies, I also don't use coin flip in order to do any gambling decisions. I found it a bit cumbersome since if I do that, I have to stop every now and then to do my bet. And since I am fond of playing slots, that would really delay the gameplay and at the same time will be too much task for me if I have to pause each spin and do coinflip to decide how much I have to bet. I just make it simple, set the bet amount, and do the auto spin.

Miles2006

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I’m not surprised if anyone here make use of coin toss before playing a game, it’s just a believe that works for them although not always but still gamblers get attached to just one method so coin toss can be considered also. Personally coin toss is the least method I could ever imagine basically I can depend on coin flip just because I want to but any result I get I’m not 100% sure it will work correctly compared to normally gambling strategy besides gambling is risky so a 50/50 situation still depends on luck.

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Quote from: Aanuoluwatofunmi on November 26, 2024, 04:03:51 PM

Quote from: albert0bsd on November 26, 2024, 01:46:28 PM

But it got me thinking: Are there any users here who actually incorporate coin tosses into their gambling strategies?
I’d love to hear if anyone uses this simple tool for some Gambling decisions

Gamblers uses this, though its not been common as before, they engage this method when they are left with two available options when it comes to decision making concerning playing a game, they believe that when they toss a coin and the side that comes in for them will symbolize if they are going to be lucky in playing it or not, so whenever they are left with two choices to make, they make the settlement by tossing a coin to determine which to go for, some of them believes that its what brings them the expected luck in the game they are playing

When the decision comes to a rock and the gambler have nothing left statistically to do about the direction and decision to make concerning the games, they will definitely tend to use anything that will help them make a better decision even though if the outcome of that decision may not favour them, but at that point all that they need is just to make that last call and take the bet, the rest will be left for luck to get them through if they win, gambling game's sometimes need such help's most especially when one need to pick anything close to a number of directions.

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Quote from: albert0bsd on November 26, 2024, 01:46:28 PM

I was browsing through some topics here on the Gambling discussion board, looking for something interesting when I came across a locked thread with a comment that caught my attention:

Quote

Gambling as we know is a fifty by fifty chances of losing or wining

Such comment make laugh, because as anyone with a bit of gambling experience knows that’s far from the truth. Even in a supposedly simple scenario like a coin toss, the probabilities aren’t truly 50/50

What brought me here today, though, is something related: I’ve developed a habit of using a coin toss to make small, harmless decisions in my daily life, like the ice cream flavor to get or what to have for dinner. I let the coin handle minor decisions: chicken or steak, book or movie, green shirt or blue. Flipping a coin saves me from decision fatigue and adds a bit of spontaneity to my routine.

But it got me thinking: Are there any users here who actually incorporate coin tosses into their gambling strategies?
I’d love to hear if anyone uses this simple tool for some Gambling decisions

It sounds like a harmless way to inject a bit of excitement into your life, but most people can figure out how to add variety without relying on something else to make a choice for them. There are a bunch of different gambling options which resemble coin flips - like choosing red or black on a roulette wheel, picking a sports bet close to 2x odds or even the most obvious flip games that became quite big under crypto. Relying on coin tosses as part of any gambling strategy is doomed to fail, because you're taking rational decision making out of the process and adding an extra layer that you don't control - fine if you want a bit of fun, but you're unlikely to win long term with these sort of "plans".

Aanuoluwatofunmi

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Quote from: albert0bsd on November 26, 2024, 01:46:28 PM

But it got me thinking: Are there any users here who actually incorporate coin tosses into their gambling strategies?
I’d love to hear if anyone uses this simple tool for some Gambling decisions

Gamblers uses this, though its not been common as before, they engage this method when they are left with two available options when it comes to decision making concerning playing a game, they believe that when they toss a coin and the side that comes in for them will symbolize if they are going to be lucky in playing it or not, so whenever they are left with two choices to make, they make the settlement by tossing a coin to determine which to go for, some of them believes that its what brings them the expected luck in the game they are playing

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Quote from: Davidvictorson on November 26, 2024, 01:59:41 PM

Quote from: albert0bsd on November 26, 2024, 01:46:28 PM

But it got me thinking: Are there any users here who actually incorporate coin tosses into their gambling strategies?
I’d love to hear if anyone uses this simple tool for some Gambling decisions

No coin tosses for me when I am gambling. I try to keep everything as simple as possible. I already I my favourite game is slot. I know beforehand that I am going to play slot game. I deposit the money if there is no one there already, I pick the slot game and play. That is it. Even when choosing the type of slot game, I go with my feeling unless I have something already in mind. However, I know it is very possible that gamblers employ coinflips for some gambling decisions. it would even surprise you to know that there are even more crazier things gamblers depend on to make some gambling decisions. There are other apps that people could similar to the coin flips for making decisions. There is no judging them on this as long as they are fine with it.

Same here, when it comes on making decisions with my gambling activity then there's no time for me to make up some coin tosses. Somehow it do only happens on the moment when we are on some arguement with my friends or cousins or relatives on which it do needs up some coin toss on trying to make up some decisions on which this is the only way on which i do treat this to be relevant, but in doing gambling - nah! i do prefer
on making decisions basing on my own knowledge and experience specially when dealing up with sports betting but for fast pace games like casinos then this is something that you wont really be applying
because there's no time for you to make some coin tosses. lol

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I don't flip a coin but I use a short italian "doggerel" Roll Eyes

[ambarabà cicci cocco... ...]

Just kidding Roll Eyes

Maybe with some silly decision completely useless. Mostly because I have explain my approach "scientific" to gambling.
Using a random factor or anything similar isn't my strategy and my philosophy.
Of course like in a bonus game, If I had to choose between two cards this is a funny way for a decision but anything related to gambling must evaluated stepwise.

TravelMug

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In trading yeah, (but not generally crypto trading), but let's say you buy something and then both parties might want to go to a coin flip to decide, so it's either your way or the seller won. I honestly did it once when I sold an item, we can't decide for the price and so as I seller I opted for the coin flip and I won the deal.

Maybe in low stakes gambling you can apply this one, but if it involves huge amount, then I will say no, it's not the way. Just make up your decision, so even if you lose, then at least it's only you to blame instead of putting everything on the line wherein there is no 50/50 chance in gambling.

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Wikipedia calls it

Quote

Flipism, sometimes spelled " flippism ", is a personal philosophy under which decisions are made by flipping a coin.

en.wikipedia.org/wiki/Flipism

This coin flipping is a big deal. And it has several use cases not only in gambling. You can find it in trading where traders are trying to make decisions on which signals to follow by just flipping a coin. There are problems with the coin flipping strategies in gambling for those who engage in it. One of the cons of this is there is no means to manage risks if one's decision is based on a simple flipping of the coin.

Another con is that coin flipping could be engaged in by amateur gamblers but when you have some years of experience but still flip a coin to make a betting decision, it shows a lack of experience or grasping of the fundamentals.

Jating

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Quote from: Moreno233 on November 26, 2024, 02:14:42 PM

Using this method is a clear acceptance that gambling is purely on luck which is not what I believe as someone that is more of sports betting. I still believe that a careful analysis of the matches will increase your chances of winning and exploring the different options such as double chance, players to score, number of corners, cards and others simply make winning easier and less dependent on luck but on skills. I have not tried this pattern and I do not intend to use it unless I started committing most of my resources to casino games that I know are more of luck base.

For some, it is, this could be applicable though to some card games like baccarat when you bet on Player/Banker? But still though, I mean you are in the table and then you will tell the dealer to wait because you are going to flip a coin?

In any case, there are still gamblers here who might used this method while playing online, or maybe you are in the tail end of your gambling and just want to get over. Or maybe just enjoying and having some fun with your friends and just decided to used this old method of making a 50:50 decision.

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No, doesn't make sense to use coin flip for your decision, yeah games could be 50/50, but at least used your wild educated guess to make your bets and not just some random coin flip.

You are already gambling, and obviously, you are putting a lot of risk so why not put another one on top of it?

And it's not 50/50 for most games, there is still what we call house edge.

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Quote from: Moreno233 on November 26, 2024, 02:14:42 PM

Using this method is a clear acceptance that gambling is purely on luck which is not what I believe as someone more of sports betting. I still believe that a careful analysis of the matches will increase your chances of winning and exploring the different options such as double chance, players to score, number of corners, cards and others simply make winning easier and less dependent on luck but on skills. I have not tried this pattern, and I do not intend to use it unless I startommitting most of my resources to casino games that I know are more of luck-based

That is what it is, gambling is all about luck and that is the reason the quote the ops shared is very correct where the user mentioned that gambling has a 50/50 chances, and for sure we may likely incorporate some things into our decision-making process and in this situation the ops mentioned toss mechanism to help in his decision making which to me is somehow a common practice but just that we have a different format to applying this decision-making technique.

Having in mind that whatever decision we make using this technique is somewhat based on assumptions and luck so for sure the outcome should be pre-accepted before the very start of the game., but also note that such a mechanism can not be applied to all games

bias

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I can honestly say that I have done it more than once or twice. Not because I believe the odds are 50-50 or that it's based on luck so she will decide, but more so that I stop thinking about what the most likely outcome is so I can bet on it. However, most of the time, I've done what I would have done without flipping the coin. Grin

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Quote from: Moreno233 on November 26, 2024, 02:14:42 PM

Using this method is a clear acceptance that gambling is purely on luck which is not what I believe as someone that is more of sports betting. I still believe that a careful analysis of the matches will increase your chances of winning and exploring the different options such as double chance, players to score, number of corners, cards and others simply make winning easier and less dependent on luck but on skills. I have not tried this pattern and I do not intend to use it unless I started committing most of my resources to casino games that I know are more of luck base.

For slot machines players this can be incorporated they can have a single coin like a 50 cent one and toss it and based on what it comes they decide if to go for a higher bet or a lower bet. That of course is stupid and pure superstition which makes no sense at all but gamblers are some different species, we can never know what happens to us when we gamble. For example I barely recognize myself when I am losing from what I keep talking and I am being honest here I say "oh God why you are destroying me like this" which I assume many other people, gamblers in the same situation use, in normal behavior though I never talk to God like this so gambling can definitely change what we say, what we think as we are not reacting calmly but in the middle of the rage and we can barely control ourselves during such time.

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Quote from: albert0bsd on November 26, 2024, 01:46:28 PM

What brought me here today, though, is something related: I’ve developed a habit of using a coin toss to make small, harmless decisions in my daily life, like the ice cream flavor to get or what to have for dinner. I let the coin handle minor decisions: chicken or steak, book or movie, green shirt or blue. Flipping a coin saves me from decision fatigue and adds a bit of spontaneity to my routine.

I don't think I can do this; I don't want to be The Riddler in Batman movies where every decision he makes is decided via coinflip. I want all my decisions to come from sound logic.

Quote

But it got me thinking: Are there any users here who actually incorporate coin tosses into their gambling strategies?
I’d love to hear if anyone uses this simple tool for some Gambling decisions

I used to play Coinflips in online casinos, and I can attest its not a 50/50 case. The house always had an edge I win in the early stages, but as the game drags on, the house takes over because it has an edge, and its a fact.

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Using this method is a clear acceptance that gambling is purely on luck which is not what I believe as someone that is more of sports betting. I still believe that a careful analysis of the matches will increase your chances of winning and exploring the different options such as double chance, players to score, number of corners, cards and others simply make winning easier and less dependent on luck but on skills. I have not tried this pattern and I do not intend to use it unless I started committing most of my resources to casino games that I know are more of luck base.

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Coin Flip is Sacred according to Jesse. https://www.youtube.com/shorts/J03-QPEZtoo
Whatever is to be decided through Coin Flip, must be done.

I'm sure its not the best way to use in order to decide something but if its just for two parties who constantly have to argue about which of them has to do the stuff, I guess it's fair to let the gods decide who.

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There are not so many games where someone can actually use a coin toss to decide action. It will have to be a game of one or the other, which would mean there are different odds affecting the outcomes of a coin toss. A coin toss is best used for decision that are fairly even.

I have not used such strategies, although I've sometimes thrown caution to the wind while deciding on a game and made a pick with no careful thought, or any thought at all.

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Quote from: albert0bsd on November 26, 2024, 01:46:28 PM

I was browsing through some topics here on the Gambling discussion board, looking for something interesting when I came across a locked thread with a comment that caught my attention:

Quote

Gambling as we know is a fifty by fifty chances of losing or wining

Such comment make laugh, because as anyone with a bit of gambling experience knows that’s far from the truth. Even in a supposedly simple scenario like a coin toss, the probabilities aren’t truly 50/50

Shortly I am thoughtful enough to understand that statement "50/50 which details that we either Wins or Losses in gambling.
It literally flames that we should expect any of it while gambling and entails that there is no assured techniques of players to predict a 100% sure game either in winning or loosing.

At your own terms OP, I understand you too clearly which I will tend to admit that the chances of loosing is usually higher than chances of winning which may not be up to that 50/50 but still, I myself can not give an accurate % of this if not to agree that "we either Wins or looses" on gambling.

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Quote from: albert0bsd on November 26, 2024, 01:46:28 PM

But it got me thinking: Are there any users here who actually incorporate coin tosses into their gambling strategies?
I’d love to hear if anyone uses this simple tool for some Gambling decisions

No coin tosses for me when I am gambling. I try to keep everything as simple as possible. I already I my favourite game is slot. I know beforehand that I am going to play slot game. I deposit the money if there is no one there already, I pick the slot game and play. That is it. Even when choosing the type of slot game, I go with my feeling unless I have something already in mind. However, I know it is very possible that gamblers employ coinflips for some gambling decisions. it would even surprise you to know that there are even more crazier things gamblers depend on to make some gambling decisions. There are other apps that people could similar to the coin flips for making decisions. There is no judging them on this as long as they are fine with it.

albert0bsd

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I was browsing through some topics here on the Gambling discussion board, looking for something interesting when I came across a locked thread with a comment that caught my attention:

Quote

Gambling as we know is a fifty by fifty chances of losing or wining

Such comment make laugh, because as anyone with a bit of gambling experience knows that’s far from the truth. Even in a supposedly simple scenario like a coin toss, the probabilities aren’t truly 50/50

What brought me here today, though, is something related: I’ve developed a habit of using a coin toss to make small, harmless decisions in my daily life, like the ice cream flavor to get or what to have for dinner. I let the coin handle minor decisions: chicken or steak, book or movie, green shirt or blue. Flipping a coin saves me from decision fatigue and adds a bit of spontaneity to my routine.

But it got me thinking: Are there any users here who actually incorporate coin tosses into their gambling strategies?
I’d love to hear if anyone uses this simple tool for some Gambling decisions

Topic: Using Coin Flips for Decisions? (Read 169 times)