We lose on the long run through return percentage - page 4.

dothebeats

legendary

Activity: 3542

Merit: 1352

Quote from: Peanutswar on January 27, 2023, 08:15:57 AM

That's how the gambling casino earn of course if they make 100 per cent of the win rate it's a huge loss to them that's why still they are giving a chance of winning to the players even though its above 90 per cent there's a chance still players lose the game, those lucky people are the one who experiences this high chance of winning the game, that's the reason why they keep continuously playing sometimes it shows up a good multiplier upon playing more games. But of course if you hit a good jackpot and being greedy makes your game ruin.

That's why you always have to make sure that your spendings are in check, otherwise even if you win against the casino, your greediness will lead you to lose it all just because you haven't stopped when you're ahead. The high % of wins on the side of the player, on paper, might seem like a good deal. But in reality it's really in favor of the casino because that less than 1% will always eat out the winnings of gamblers in the long run. You can never really disregard those small percentages because that's what's going to bite you in the end.

Aanuoluwatofunmi

sr. member

Activity: 812

Merit: 436

Quote from: Accardo on January 25, 2023, 04:47:34 PM

I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot. Though one slot could be paying out that amount in the casino, yet my point is that no casino offers 100 percent payout that means if a slot pays out 94 percent for every 100 dollar bill spent on that machine the player losses 6$ to the casino. That is if you play longer times you'll lose, and we can almost never stay atop of the slot machines after long period of plays, unless you win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.

Isn't it?

Inspired by Jean Scott - Frugal Gambler

Talking about return percentage, it's a privilege and not a mist every casino must give, when you receive one and continue to gamble till you loose everything you won over time then it's left to you as your choice, gambling is fun quite alright but we must engage doing things that will always make it fun to us and not turn into sadness, part of which is expected of us to adequately plan our gambling lifestyle right to the best of our own interest, this is one of the ways you can get the best satisfaction in gambling when you're contempted and planned as expected.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

Quote from: Kakmakr on January 27, 2023, 01:58:34 AM

The way I understand this is as follows...

The return to player (RTP) are configured by the third party Slot provider and cannot be easily changed, but some casinos have their own original games with very good RTP. (They can alter the RTP very quickly on their own games, with the push of a few buttons)

Now for us to determine what the configured RTP for a Slot are... is almost impossible, because you need to do over 1 million bets to determine the RTP.... and they might have changed the RTP, while you were doing that. The cost is also very expensive to do that... (say you do 1 000 000 bets of $0.10 each, then you might spend almost $100 000 for that test) Roll Eyes

The casinos have to make profit or they will have to close their doors.... but we need to have some cheap and fast option to verify their RTP. (Total transparency are needed) Tongue

And by spending your 100k and getting to know their RTP you get nothing in return, because what are you going to do with that knowledge? Stop playing? You've already spent so much that they couldn't care less about you leaving.
If RTP was really something that could help you strategize... but there's no strategy in slots. You push a button or pull a lever and hope for the best.
It's true they have to make money or go out of business and the trick is to make just enough so that the players keep thinking they stand a chance Wink

molsewid

hero member

Activity: 2170

Merit: 530

Quote from: goaldigger on January 27, 2023, 08:22:17 AM

Quote from: Peanutswar on January 27, 2023, 08:15:57 AM

That's how the gambling casino earn of course if they make 100 per cent of the win rate it's a huge loss to them that's why still they are giving a chance of winning to the players even though its above 90 per cent there's a chance still players lose the game, those lucky people are the one who experiences this high chance of winning the game, that's the reason why they keep continuously playing sometimes it shows up a good multiplier upon playing more games. But of course if you hit a good jackpot and being greedy makes your game ruin.

If you monitor your activities, you can easily know the percentage of your winnings versus your losses, and as a gambler you can't expect to always win because the casinos is designed for the lucky players and for the benefit of the house of course. The return might be low in gambling because profit is not guaranteed and if you are being too careless with your bets, you might lose more. The casinos have to be more fair though so they can retain the players and attract new players.

Exactly, at first it is too tiring and to boring to monitor your daily bets or transactions but then a proper book keeping I mean if this is the right term, a proper book keeping will give us a lot of help if we want to have a good discipline in gambling. We can avoid too much losses as well, only if we really don't want to lose too much I mean if we encounter a streak or loses then we should rest and gamble in next week, don't act too much to it and don't try to get it back all, it will only lead to more issues.

BITCOIN4X

legendary

Activity: 1974

Merit: 1150

Quote from: Accardo on January 27, 2023, 07:55:23 AM

I think the third party is the casino, and they program some slot machine to pay out as they've written on the slot machine, but we must be careful to determine, which slot pays out our desired RTP. Some gamblers don't stick to one machine, in real casino, hoping to find the best machine, and it's the wrong practice. What matters is that we would lose, and jumping from machine to another to determine how they're programmed won't help anybody. So, instead of testing with $100,000, focusing on enjoying the game with 100k would help us stay longer or gamble responsibly. The most important part is scheduling our money in a way that'll it'll carry us for longer periods, not throwing them all in one sitting.

Slots are games based on luck regardless of whether the owner has arranged the machine in such way or as fair as possible. You just have to be aware of it and play an amount that you can afford to lose. I tend to play slots to some extent when I'm relaxed and only when I'm resting. No need to spend hours, but 30 minutes for the deposit limit amount is entertaining enough.

Instead of slots I guess sports betting is much nicer to look forward to. But it all depends on the interests of each gambler, as long as they are happy then it doesn't matter.

goaldigger

sr. member

Activity: 2422

Merit: 357

Quote from: Peanutswar on January 27, 2023, 08:15:57 AM

That's how the gambling casino earn of course if they make 100 per cent of the win rate it's a huge loss to them that's why still they are giving a chance of winning to the players even though its above 90 per cent there's a chance still players lose the game, those lucky people are the one who experiences this high chance of winning the game, that's the reason why they keep continuously playing sometimes it shows up a good multiplier upon playing more games. But of course if you hit a good jackpot and being greedy makes your game ruin.

If you monitor your activities, you can easily know the percentage of your winnings versus your losses, and as a gambler you can't expect to always win because the casinos is designed for the lucky players and for the benefit of the house of course. The return might be low in gambling because profit is not guaranteed and if you are being too careless with your bets, you might lose more. The casinos have to be more fair though so they can retain the players and attract new players.

Peanutswar

legendary

Activity: 1750

Merit: 1329

Top Crypto Casino

That's how the gambling casino earn of course if they make 100 per cent of the win rate it's a huge loss to them that's why still they are giving a chance of winning to the players even though its above 90 per cent there's a chance still players lose the game, those lucky people are the one who experiences this high chance of winning the game, that's the reason why they keep continuously playing sometimes it shows up a good multiplier upon playing more games. But of course if you hit a good jackpot and being greedy makes your game ruin.

Accardo

hero member

Activity: 1302

Merit: 561

Leading Crypto Sports Betting & Casino Platform

Quote from: Kakmakr on January 27, 2023, 01:58:34 AM

The way I understand this is as follows...

The return to player (RTP) are configured by the third party Slot provider and cannot be easily changed, but some casinos have their own original games with very good RTP. (They can alter the RTP very quickly on their own games, with the push of a few buttons)

Now for us to determine what the configured RTP for a Slot are... is almost impossible, because you need to do over 1 million bets to determine the RTP.... and they might have changed the RTP, while you were doing that. The cost is also very expensive to do that... (say you do 1 000 000 bets of $0.10 each, then you might spend almost $100 000 for that test) Roll Eyes

The casinos have to make profit or they will have to close their doors.... but we need to have some cheap and fast option to verify their RTP. (Total transparency are needed) Tongue

I think the third party is the casino, and they program some slot machine to pay out as they've written on the slot machine, but we must be careful to determine, which slot pays out our desired RTP. Some gamblers don't stick to one machine, in real casino, hoping to find the best machine, and it's the wrong practice. What matters is that we would lose, and jumping from machine to another to determine how they're programmed won't help anybody. So, instead of testing with $100,000, focusing on enjoying the game with 100k would help us stay longer or gamble responsibly. The most important part is scheduling our money in a way that'll it'll carry us for longer periods, not throwing them all in one sitting.

madnessteat

legendary

Activity: 2464

Merit: 2377

Quote from: YOSHIE on January 27, 2023, 05:26:45 AM

Quote from: Accardo on January 25, 2023, 04:47:34 PM

They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.

Money wins gambling bets/hot jackpots, you can't be calm before spending everything you win, I don't speak for other people, I experienced it myself, sleeping uncomfortable, spending doesn't feel, whatever, what you want to do with the money win the jackpot is not calm, before I re-bet.

Winning a jackpot/gambling is like sleeping with a beautiful woman, once you try to get addicted, once you win you want to try again, that's gambling, the percentage of losing without realizing it is 90%, 10% return, if you don't believe me just ask the person who really gambled how much money he spent and how much money he won on the bet, even if it's a jackpot.

For that, try to gamble with the hot money you get, even though losing is naturally hot vs. hot.

Most of us go back to the casino again and again, no matter how much money we have lost or won before. It seems to me that only a crazy person does not understand that casinos will not operate at a loss. Any gambling assumes that in the long run the gambler will lose his money. In order not to lose large sums you need to learn to play for fun and limit your gambling budget. Otherwise you can lose a lot and we all know such examples.

aioc

hero member

Activity: 2926

Merit: 567

Quote from: Accardo on January 25, 2023, 04:47:34 PM

They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.

Because of two things hoping to win the jackpot again and addiction, we are more addictive and motivate to gamble more because we have tasted winning the jackpot,we are not aware of it until we compute that we lose the jackpot that we've won.
It really hurt calculating what we've loss that what we've won, but if we are playing within our means and treat gambling as entertainment that will be our consolation, so don't expect because you've won the jackpot you've beat the house, because house will get it back eventually through time.

YOSHIE

legendary

Activity: 2128

Merit: 1775

Quote from: Accardo on January 25, 2023, 04:47:34 PM

They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.

Money wins gambling bets/hot jackpots, you can't be calm before spending everything you win, I don't speak for other people, I experienced it myself, sleeping uncomfortable, spending doesn't feel, whatever, what you want to do with the money win the jackpot is not calm, before I re-bet.

Winning a jackpot/gambling is like sleeping with a beautiful woman, once you try to get addicted, once you win you want to try again, that's gambling, the percentage of losing without realizing it is 90%, 10% return, if you don't believe me just ask the person who really gambled how much money he spent and how much money he won on the bet, even if it's a jackpot.

For that, try to gamble with the hot money you get, even though losing is naturally hot vs. hot.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: rby on January 26, 2023, 11:02:22 AM

Quote from: ethereumhunter on January 25, 2023, 09:58:14 PM

That's true @OP. The gambling business is about making a lot of money from losing gamblers. And after all, if we win, the percentage of our losses can be greater than the total number of wins we get. But unfortunately, we often don't realize that because we have seen the number of big wins we get. This makes us forget about the total defeat we experienced so that we feel we have recovered from our previous defeat. But we forget that before that, we have experienced even more defeats, even if we count how much money we spent at the gambling table and lost from the first time we played gambling.

In as much as it is business, you don't expect a business owner to lose or continue running on losses, if it is so, then no one will want to own casino. But for the rush to own gambling companies should tell you how much gain that is in it.
If you really want to make big money, own a casino and don't be a gambler. Gambling is for fun and not a steady flow of income.

But to own a casino, you need a lot of money. I don't know how much exactly but we're talking hundreds of thousands of dollars or even more, so not everyone can make that casino. In addition, it is not easy to run a casino because there will be stiff competition among casinos.

And in the meantime, we can only play gambling in their casino without having the opportunity to create a casino. But we will indeed continue to lose money if we continue to play gambling at the casino and for that, we must be able to take advantage of our time to play and rest so we don't lose a lot of money.

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

The way I understand this is as follows...

The return to player (RTP) are configured by the third party Slot provider and cannot be easily changed, but some casinos have their own original games with very good RTP. (They can alter the RTP very quickly on their own games, with the push of a few buttons)

Now for us to determine what the configured RTP for a Slot are... is almost impossible, because you need to do over 1 million bets to determine the RTP.... and they might have changed the RTP, while you were doing that. The cost is also very expensive to do that... (say you do 1 000 000 bets of $0.10 each, then you might spend almost $100 000 for that test) Roll Eyes

The casinos have to make profit or they will have to close their doors.... but we need to have some cheap and fast option to verify their RTP. (Total transparency are needed) Tongue

Plaguedeath

hero member

Activity: 910

Merit: 680

Quote from: len01 on January 26, 2023, 06:57:57 PM

because slot games only have a small chance of winning and the luck that gets there is very rare for getting the jackpot.
actually a Slot game for me is not completely there will be RTP. I mean when I spend $100 in one of the Slot games, sometimes the RTP doesn't work and only 5% returns I get. many times I'm like that but after that usually there will be a return + profit that is around 50%. And even more careless, sometimes gamblers, if they have benefited from Slots or got jackpots from Slots, they will continue to play with increased curiosity and dopamine in the brain.
and actually the way to spend money faster for me is in slot games but the opportunity to get big wins is also in slot games.

It's because you're not keep gamble for really long with your initial bankroll and in the same game, the RTP rate is expected if you gamble for long and not only for 100x wager, it might 1000x wager or more to calculate the right RTP. It's similar like you bet all of your bankroll in one spin, you might lose all of your money or you might get a lot of money, which make you're not care with the RTP rate.

len01

hero member

Activity: 1330

Merit: 585

Leading Crypto Sports Betting & Casino Platform

Quote from: Accardo on January 25, 2023, 04:47:34 PM

I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot. Though one slot could be paying out that amount in the casino, yet my point is that no casino offers 100 percent payout that means if a slot pays out 94 percent for every 100 dollar bill spent on that machine the player losses 6$ to the casino. That is if you play longer times you'll lose, and we can almost never stay atop of the slot machines after long period of plays, unless you win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.

Isn't it?

Inspired by Jean Scott - Frugal Gambler

because slot games only have a small chance of winning and the luck that gets there is very rare for getting the jackpot.
actually a Slot game for me is not completely there will be RTP. I mean when I spend $100 in one of the Slot games, sometimes the RTP doesn't work and only 5% returns I get. many times I'm like that but after that usually there will be a return + profit that is around 50%. And even more careless, sometimes gamblers, if they have benefited from Slots or got jackpots from Slots, they will continue to play with increased curiosity and dopamine in the brain.
and actually the way to spend money faster for me is in slot games but the opportunity to get big wins is also in slot games.

AmoreJaz

legendary

Activity: 3122

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: DoublerHunter on January 26, 2023, 05:52:44 PM

Quote from: Baofeng on January 26, 2023, 05:26:39 PM

It's profit making machine, hehehe, that's why who invented casinos are brilliant because you will not lose business wise.
~snip~

^For the owner of the machine but not making a profit for the gambler.
If that kind of business won't profitable to them, I think they are slowly dying but yet, look at them now, the number has been increasing those who owned slot machines, even the online slot the grown like a mushroom that keeps coming up. So I think they are very profitable businesses, and those who gamble and fight against the house edge will most likely lose in the end, the more you will time you will spend the more chances of losing you have, that is the fact.

that's true, just look at the slots provider and you can't count them all now. but for casino owners, better employ trusted slots providers. for gamblers, they usually check the RTPs. so this feature should always be available from the slots provider.
gambling is a money making business. but if you don't know what you're doing, you can also go bankrupt in this business. just look at some online casinos here that were abandoned already.

alegotardo

legendary

Activity: 2352

Merit: 1121

☢️ alegotardo™️

Quote from: Saint-loup on January 25, 2023, 05:19:12 PM

Jackpots are taken into account by casinos to calculate their house edge from a game of course. And they don't want to have games with negative house edge except for promotions during short periods of time. So even when you win a jackpot on a game you are not likely to make profits if you play it since very long time unfortunately. It only happens when the jackpot is worth millions times your average stake but it's quite unusual, jackpots are worth 10 000x max in general.

It is possible to make money playing at casinos even though most casino games have this house edge as there are some strategies and techniques that players can use to minimize losses and increase the chances of winning money.

For example, playing games like blackjack and poker where skill plays a major role, using effective money management techniques, and avoiding games like roulette and slot machines where luck is the main factor.

In addition, playing at an online casino is already a very good alternative compared to physical casinos, as the odds are usually better.
Sports betting can also be more profitable than casino games, if you like a particular sport, because more information is available about sports teams and their performances, making predictions more accurate.

However, it is important to remember that betting on sports is still a form of betting and there are always risks and uncertainties involved. It is important to be aware of these risks and never bet more than you can afford to lose.

Sandra_hakeem

hero member

Activity: 798

Merit: 1045

Goodnight, ohh Leo!!! 🦅

Hmmmm....
That's actually true though... Everytime a single bet is placed, the percentage goes to the slot ( these tends not to happen in every casino because I never experienced an direct percentage calculus immediately when games are lost, No! Instead, the branch casino make returns to the slot in either weekly basis or monthly -- as the case might be.
I've also witnessed alot of cases where the funds claimed by those bet-freaks are being wagered back and sometimes, they end up leaving with a little or nothing at all....shiiiiii...!!! I feel that's where self-control shoulda been applied but they aren't usually attractive to what anyone says -- mostly when they've been drunk by those illusions on the viewers screen.

Sandra 🧑‍🦰

DoublerHunter

hero member

Activity: 2590

Merit: 644

Quote from: Baofeng on January 26, 2023, 05:26:39 PM

It's profit making machine, hehehe, that's why who invented casinos are brilliant because you will not lose business wise.
~snip~

^For the owner of the machine but not making a profit for the gambler.
If that kind of business won't profitable to them, I think they are slowly dying but yet, look at them now, the number has been increasing those who owned slot machines, even the online slot the grown like a mushroom that keeps coming up. So I think they are very profitable businesses, and those who gamble and fight against the house edge will most likely lose in the end, the more you will time you will spend the more chances of losing you have, that is the fact.

Baofeng

legendary

Activity: 2576

Merit: 1655

It's profit making machine, hehehe, that's why who invented casinos are brilliant because you will not lose business wise.

And that's why we have seen like the mob and all the billionaires are investing some kind of money in casinos because of the profit that they are going to get as the house edge will be the key breaker for any gambler. If they dont know anything about it then, they will keep on playing in the long run and losses everything. And they know how to attract gamblers, giving them perks and everything and we thought that it's a good deal. But games like slot machines which doesn't favor gamblers are the worst, but we are all playing it eventhough the RTP is not on our side.

Topic: We lose on the long run through return percentage - page 4. (Read 1185 times)