where the losed money goes? | Bitcointalksearch.org

len01

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

all i know is the money that was lost was just like round.
I mean the money that is lost or a gambler who loses at gambling, the money will go into the gambling bankroll and will be given to other gamblers who win at that gambling.

actually you can answer questions like this yourself. because the turnover of the lost money can already be estimated.
house only accepts 1% of the amount wagered by the gambler.

mu_enrico

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Quote from: Don Pedro Dinero on March 07, 2023, 11:06:51 PM

Regarding slots, it was my understanding that it is the most profitable thing for casinos, but your reading here is the opposite. I know you are an expert on the subject and you have your thread on it. Are you sure that those percentages refer to the revenue that the casino gets? If so, I imagine that slots can still be more profitable for the casino than other games because they have lower costs, for example they don't need a dealer, and they can be played faster (although they return less in prizes, the higher the betting speed, the more people can lose by compound interest).

Yes, it basically needs electricity and space to operate, unlike table games which casinos must hire a lot of people.
As you can see, the biggest revenue comes from slots due to its faster game -> 4x more wager than table games -> higher revenue even though the casino's win% is significantly smaller.

In the end, slots is still considered most profitable because of its high wager/turnover plus lower cost, not because of its house edge/casino's win%.

Plaguedeath

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I think everyone already know when the gambler lose his money, the casino take it all.

But what people doesn't understand is, they're think the casino is rigged and manipulated the outcome, they think the casino will have 100% to win, but the fact there's a chance the gambler can beat the casino if he bet using high amount money and hit the highest multipliers.

There's few casinos were bankrupt because they can't pay the huge winnings from the lucky gambler.

Issa56

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Since we all know that losers are always more than winners, if the gambling sites takes money from the losers and pay the winner's, then the money left will be for the gambling owner. Gambling is just a business, how do you expect the gambling owners to be making money? They will have to maintain their website, pay their staffs and pay for marketing and other things. How will they be generating money for all those things, gambling owners always make use of the money lost by there customers to take care of necessary things and the owner will also take his profit.

bettercrypto

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Quote from: Pierre 2 on March 08, 2023, 12:41:43 AM

Casinos are profit seeking business, they are not charity or public service. Obviously they need to generate income through their operations so their business can go on. Pretty sure some percentage (depends on their scheme) goes directly towards income under accounting. So government cuts some taxes before for sure (completely depending on region). Some percentage goes to pockets of people that work for them and owner(s). Just like regular businesses.

Indeed, that's all there is to the regulation of the government that they implement in gambling businesses and its owners can do nothing but follow the policy that the government of a country has.

That's why most casinos make a lot of money from gamblers who gamble on their gambling platforms and this is the reality that is happening in this gambling world.

_act_

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Quote from: trendcoin on March 07, 2023, 11:14:34 PM

They make huge profits, but the risk they take in doing this business is also huge. I would not want to be the owner of such a business because of the current risks. I think they make a lot of money and that's why we should criticize them. For example, we may request more bonuses from them. However, at the end of the day, we have to admit that they are doing a really risky business. They take the biggest risk. We just take our chances and have fun with just a few dollars.

The risk of gambling is huge but not the risk of the business, once a gambling site start a new and people start to gamble, the more customers they have the money income they make, which means that gambling site is a very good and lucrative business.

Instead of requesting for more bonuses, you can join another gambling sites that have more and better bonuses. But many gambling sites do not take their VIP customers not serious, they give them VIP offers.

Kakmakr

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The casino sign a contract with third party game providers to configure a fixed house edge for their games, so no matter what happens, they are guaranteed to get that income from those games. Some of the Slot providers give the casinos a choice on several RTP (Return to Player) configurations, so the casino can pick a low or higher RTP. (Example : Hacksaw Games)

Then a lot of these online casinos have their own in-house games, where they configure the RTP on the games. The majority of the money gambled, will go back to the players... and the casino take their cut, but they have to use that income to pay for salaries and to pay for marketing and promotions ..etc..etc.

It is a business.. after all, so it has to make money to pay for it's expenses. Wink

worle1bm

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They are also making profits out of your loss apart from house edge as when you loose the amount goes to the casino who will use the amounts to pay off for your wins as players also win and cash out their withdrawals.Suppose in fiat based physical casino you place a bet and loose the amount it will go to casino bankroll so same is the case with these crypto casinos also.

Pierre 2

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Casinos are profit seeking business, they are not charity or public service. Obviously they need to generate income through their operations so their business can go on. Pretty sure some percentage (depends on their scheme) goes directly towards income under accounting. So government cuts some taxes before for sure (completely depending on region). Some percentage goes to pockets of people that work for them and owner(s). Just like regular businesses.

trendcoin

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

They make huge profits, but the risk they take in doing this business is also huge. I would not want to be the owner of such a business because of the current risks. I think they make a lot of money and that's why we should criticize them. For example, we may request more bonuses from them. However, at the end of the day, we have to admit that they are doing a really risky business. They take the biggest risk. We just take our chances and have fun with just a few dollars.

Don Pedro Dinero

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Quote from: mu_enrico on March 07, 2023, 11:49:57 AM

As you can see the revenue is 23.9% for table games and 9.4% for slots games. Where's the rest of the money? Distributed for players' win.
So the house always wins and you'd be better playing slots :p

Keep in mind the revenue isn't a profit since the casino needs to pay bills.

I was going to say this last sentence to the OP.

Regarding slots, it was my understanding that it is the most profitable thing for casinos, but your reading here is the opposite. I know you are an expert on the subject and you have your thread on it. Are you sure that those percentages refer to the revenue that the casino gets? If so, I imagine that slots can still be more profitable for the casino than other games because they have lower costs, for example they don't need a dealer, and they can be played faster (although they return less in prizes, the higher the betting speed, the more people can lose by compound interest).

alegotardo

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

It really depends on the type of game.

In sports games, for example, a good part of the money lost by unlucky users goes to the (generally minority of players who were luckier or more skillful in their bets. Obviously the casino also takes a good part of the money, both of bettors who lost as well as those who won.

But, in slot games, for example, the lost money stays 100% with the casino.
Obviously they need to pay some commissions to the platform owner, but the biggest profit is still for the casino.

Casinos are highly profitable, they just need to have a good initial investment and work with dignity (you don't need to steal to be profitable).

Most bettors know that they will usually lose, but the fun you get even losing is addictive!!!

Fatunad

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Quote from: BenCodie on March 07, 2023, 06:44:07 PM

It goes to the house. Where else does it go? If you're wondering where it goes after that...in best cases, it goes toward further development and marketing of the casino. In worst cases, it goes into prostitutes and cocaine for the operator Roll Eyes

They're casino owners after all. In the middle, it goes toward a living or fortune being accumulated by the unfortunate greed that prevails over people who play their game.

The money is always better off going somewhere other than the casino to begin with.

Common sense,right?

They are building a business and not something else which it would be understandable that they are making money out of those gamblers losses which it isnt shocking.Somewhat big wins would really be patched up
and would really be deducted out of those revenues which we know that it isnt really that appealing for most gambling owners which is understandable. This is why it is really that normal that
they would be setting out max bet limits for them to avoid on getting bankrupt and its really just a standard thing should be done by any business owner which is related to this.

AmoreJaz

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Quote from: BenCodie on March 07, 2023, 06:44:07 PM

It goes to the house. Where else does it go? If you're wondering where it goes after that...in best cases, it goes toward further development and marketing of the casino. In worst cases, it goes into prostitutes and cocaine for the operator Roll Eyes

They're casino owners after all. In the middle, it goes toward a living or fortune being accumulated by the unfortunate greed that prevails over people who play their game.

The money is always better off going somewhere other than the casino to begin with.

funds for day to day operations, their staffs, security, payment for winnings, marketing/promotional funds, license and others. and the excess definitely goes to the pockets of the owners or stakeholders.
this is why this business is a lucrative one if they know how to manage such business. if not, they can easily go bankrupt with one huge winnings from the player.
though we don't know their other dealings, but certainly, if they don't know how to allocate their bankroll, they can easily go down. this is gambling business, not all owners can be successful on this venture.

BenCodie

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It goes to the house. Where else does it go? If you're wondering where it goes after that...in best cases, it goes toward further development and marketing of the casino. In worst cases, it goes into prostitutes and cocaine for the operator Roll Eyes

They're casino owners after all. In the middle, it goes toward a living or fortune being accumulated by the unfortunate greed that prevails over people who play their game.

The money is always better off going somewhere other than the casino to begin with.

nimogsm

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Well if you think about it, the answer is not so complicated.From the profit that the casino receives need to accrue salaries to employees / developers and everyone who works for this casino. Some games are licensed and casino need to pay the copyright holder of the game.And another important factor is the accumulation of funds for the liquidity of the casino.

n0ne

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Quote from: Yatsan on March 07, 2023, 05:56:45 PM

Ofcourse the house will get an amount from it either you lose or you win, that is how they are earning aside from withdrawal and deposit on their platform. With regards to some of your losses going to other's pocket, that is also a fact but to be more precised, it is being distributed to many players who simply won. Annd this is just how gambling works both in online gambling sites and land based casinos, there are just changes or differences with the actual process but the idea itself is there.

On my end, I have no problem with such. A gambling site is getting profit from players simply because it serves as players' payment from using the platform, more of like service fee. The profit will then be used to maintain the website and to accommodate more players and the rest will be for the owner and staff. Try to put yourself on their position, ofcourse you won't do things for free.

It is simple as taking the losers money and sharing to the winners. Gambling site will be always profitable, amidst the loss/win of the users the platform will have specific percentage. This is how the platforms will be designed. From this edge the platform needs to meet all its expenses. Even in such earning access there were more number of gambling platforms that have gone bankrupt. Nowadays everything is transparent, in the past scenario is different and we don't know what happens in the background. Wr just need to trust and move on.

kamvreto

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Quote from: Yogee on March 07, 2023, 09:49:43 AM

Isn't it supposed to be added to the casino's bankroll? If you're asking for a more specific recipient other than the winning players then maybe to the owners when they decide to withdraw money to their own pockets. You could also add the Government to the list since they will have to pay taxes too hehe. How about the employees or the hired contractors they have to pay to keep the platform running smoothly?

It should be in the Kaisno Bankroll, but I'm not sure it will be 100% in the Bankroll, some online casinos pull into their own wallets and also use it to pay the taxes that have to be done so that the government continues to provide free access and pay fees for server rentals , domain, some employees as well as some other needs. If still wondering where their money is going then call the gambling owner and ask for a full list of where the money is going Lol but that's not going to happen.

Yatsan

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Ofcourse the house will get an amount from it either you lose or you win, that is how they are earning aside from withdrawal and deposit on their platform. With regards to some of your losses going to other's pocket, that is also a fact but to be more precised, it is being distributed to many players who simply won. Annd this is just how gambling works both in online gambling sites and land based casinos, there are just changes or differences with the actual process but the idea itself is there.

On my end, I have no problem with such. A gambling site is getting profit from players simply because it serves as players' payment from using the platform, more of like service fee. The profit will then be used to maintain the website and to accommodate more players and the rest will be for the owner and staff. Try to put yourself on their position, ofcourse you won't do things for free.

Fatunad

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Quote from: Cantsay on March 07, 2023, 03:24:18 PM

Quote from: cafter on March 07, 2023, 09:30:37 AM

i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

That is gambling and life for you. The more some are losing the more some are winning life's not always fair to those who truly needs to be treated fairly. And if you fell gambling is not always in your favour you can call it a quit it's never to late to leave gambling.

As for the money I'm sure it will go to the casino's bankroll and from it they'll pay whoever wins, I haven't really sat down to analyze or study how it goes but I do believe that the casino should be the one receiving the loser's wager. If I'm not correct I'll appreciate the correct answer.

The ones who do make money is the casino owner which is really that understandable and this is why gambling business is really that profitable specially if gamblers do really love on staying up on a certain platform
or even on a physical place.Yes,they might be able to win up big but those would be easily be patched up considering that people would continue to play because they are chasing up on hitting up jackpots and this is where desperation would kicks in and making it as an advantage into those casino owners.This is why when you do get involved with gambling then you should really know on when to stop and the most
important thing of all is that you do really know on how to handle up your finances.

Cantsay

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Quote from: cafter on March 07, 2023, 09:30:37 AM

i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

That is gambling and life for you. The more some are losing the more some are winning life's not always fair to those who truly needs to be treated fairly. And if you fell gambling is not always in your favour you can call it a quit it's never to late to leave gambling.

As for the money I'm sure it will go to the casino's bankroll and from it they'll pay whoever wins, I haven't really sat down to analyze or study how it goes but I do believe that the casino should be the one receiving the loser's wager. If I'm not correct I'll appreciate the correct answer.

Fortify

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Where else would it go, except to the gambling company? They're not a charity funneling it to orphanages and animal shelters. When you place a bet, of any kind, at these casinos or bookmakers, you are challenging them that either your a) intelligence in predicting the outcome of an event is better than theirs. b) suggesting they have made a mispricing error on some odds or c) prepared to blindly gamble knowing the odds that apply in which case are statistically against you. There are no long term winning players at a casinos, except the infinitely rare ones that get unbelievably lucky and are probably not regular gamblers, who make a big payout and walk away. Extreme wins are probably less than 10 a year and you have better odds playing the lottery. People are naturally greedy and want shortcuts to riches, these gambling companies just satisfy that trait.

madnessteat

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The fact that casinos are very profitable business has long been known, but I do not think we can find somewhere accounting records of one of the casinos and understand how much and where the money is spent.

The most important thing that a person who was going to play gambling understood that playing in a casino, almost every gambler in the long run will lose their money (of course, if not crapshoot and leave the casino until all is not lost). The casino is an entertainment that requires money.

Casdinyard

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That has been the case since time immemorial, that's why casinos are a great business model if you wanna scam people out of their money but would also want to be absolved of the crime thereof by legalizing your business. Casinos heavily profit from the losses of people, be it live or online casino. And due to the fact that there are only few winners every time, this means that almost all of the losses incurred by all the players in their business automatically goes to their pockets. This is literally the reason why there's a saying "the house always wins". If the house loses money from a massive win, they can easily recuperate these losses without even trying because someone somewhere out there's hapless enough to tank the biggest loss of his life as well.

South Park

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

The money lost by gamblers go to a lot of places, part of that money is used to pay winning gamblers, taxes and licenses, bills, employees, marketing, increase their bankroll, bonuses and other stuff, only after all of that money is paid the casino owners earn any money, so while casinos are a very profitable business the competition and the costs are high, and many succumb to all that pressure and fail to make it big.

stomachgrowls

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Exactly!

And this is why gambling business is really that profitable which aside from House edge on where they do make that money, they are also making money out of those lost bets and its true that when it comes on counting
on how many players are winning which is really very less which means that accumulation of those funds would really be that big which means that casino owners are the ones who do really benefit out.
Somehow, when a certain player do really make out some huge wins or hit up jackpots then this is where the site or company would really be that preparing on paying it up
without questions asked since its been a hit up and this is one of the risks.

uneng

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First of all, it's lost money, not losed. And this money is going to the hands of the casinos' owners who may add this to the platform's wallets, to pay employees' wages, to pay for marketing, games' providers or internal development. It's up to casinos' owners to decide what to do with the profit they make from gamblers. What we know is that they are going to use this money for the own good of the business and of the people behind it.

acroman08

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Quote from: cafter on March 07, 2023, 09:30:37 AM

i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

that is the whole point of a casino business, to get profit from people losing in gambling. casinos will do everything in their power to profit from gamblers, they even created promotions and bonuses to specifically attract gamblers again who have already lost a lot of money on their gambling site.

btc_angela

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

It's obvious that it will go the casinos at the end of the day, maybe there were few gamblers that are going to win big, but there are thousands that are going to lose even more.

So yes, it's a billion dollar because, whether it's offline and online, and fortunately for us we already knew this one.

But we keep on gambling because we are looking for that one big hit.

Davidvictorson

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Lost money from losers goes to the winner. Lost money from losers goes to the investors and shareholders. Lost money from losers goes into paying taxes and renewal of gambling linences.Lost money from losers goes into buying more slot games from providers. Lost money goes from losers goes into paying people to write casino related articles in the online casinos. There's just so much that the lost money is used to achieve.

tabas

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Mate, the casinos are businesses and they make profit from everyone who gambles at their platform. You're right that they have a percentage and that's the house edge. Why you're more concerned about the gambler's losing money as they've chosen to gamble at any platform they wish freely? It doesn't make sense to think about it as there are only two results in gambling, winning and losing, even if there will be more gamblers to win. In the end, there will be more players that will lose and it shall cover the expense of those winning bets.

gunhell16

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

You almost answered your question dude hehe. Maybe what I can add is that apart from the majority of gamblers who always lose, it never happens in a casino that most gamblers win here.

So it's true what others say that winning in gambling always depends on luck and that's not what they call a technique, it's just a speculation that's all we have to be realistic. And with every bet we make, we will not lose the profit percentage of a casino for each of their players.

CryptoHeadlineNews

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where

You just answered the question yourself, because if not in the casino's pocket where else do you think the money will go? Because one thing you just need to understand is that casino business is a very lucrative industry, of which if it wasn't you never would have seen any still in existence till date, because casinos are designed in such a way that they make most of the profits despite all odds. And it's typically logical that when a user bet and loss, its a profit to the casino, through which such casino uses it to repay any gambler who play and wins.

So in conclusion, whichever money you lost, its a profit to the casino

Eternad

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The losed money goes to the provider bank roll and they are using it to pay other players that winning. The slots have an RTP which means it return to the player the certain part of the profit it can get on all the lose money. Many players is losing but some player is winning big. The casino works like this and in case everyone is on bad luck, this money will goes to casino and game provider itself.

But it still depends on the contract between operator and the casino because some casino that they are paying wins by themselves and operator just cut a commission on a profit. Either way it will goes on their bankroll.

mu_enrico

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You need to read a casino financial statement to understand the profitability and stuff.
Example Q4 2022 MGM Vegas:

Edit: source for anyone interested in this stuff.

Here you can see several terms:
- Table games drop = wager on table games
- Table games win = casino (not player) wins
- Slots handle = wager on slots games
- Slots win = casino (not player) wins

As you can see the revenue is 23.9% for table games and 9.4% for slots games. Where's the rest of the money? Distributed for players' win.
So the house always wins and you'd be better playing slots :p

Keep in mind the revenue isn't a profit since the casino needs to pay bills.

Rruchi man

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Quote from: alastantiger on March 07, 2023, 11:34:37 AM

In every game there must be a winner and a looser. Someone has to loose for someone else to win. Thousands of people play gambling, the money some people loose in gambling goes to those that win in gambling and and some percentages of it also goes to the gamble site for its maintenance and running of the site. Whenever you gamble and loose, just know that someone somewhere has won. Reverse is the case anytime you win.

One man's loss is another man's gain, that is the simple summary of this.

When you win a huge amount with a small amount that you gambled with, you usually do not stop to wonder where all the money comes from, and at that moment know that you are not the only winner because the casino will have to pay the other winners with the money that some people have lost, In cases where there are more winners than losers, the casino may pay from their own pocket as part of the business to keep it running. In cases where there are more losers than winners, In addition to the commissions they get whether you win or loose, they make more money.

alastantiger

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

In every game there must be a winner and a looser. Someone has to loose for someone else to win. Thousands of people play gambling, the money some people loose in gambling goes to those that win in gambling and and some percentages of it also goes to the gamble site for its maintenance and running of the site. Whenever you gamble and loose, just know that someone somewhere has won. Reverse is the case anytime you win.

rhomelmabini

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

If it's playing against the house it will goes to the casino but against another player it will go to them then although the house always has commission for every hands played. They will always be in profit unless some external anomaly occurs to them 'cause that's the thing that makes them file for bankruptcy. We could say, people who losses their money pays to those who wins, but the house will have a piece on it.

Zlantann

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Another question is who pays when gamblers win big. The same people that bears the burden when someone win big, is also the people that collects the funds when people loose. The gambling company have so much bills to pay before making profit. They pay their staff, tax, legal fee and other financial obligations, so they need people to lose so that they can make more money. They also have to buy new machines and upgrade thier security systems, maintain thier buildings or offices if they are offline or have physical offices. All these require money, but it is generally believed that casino owners and promoters makes huge profits.

mvdheuvel1983

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

I have thought of this question whenever I lose some amount of money to gambling. Funny right? But then the best thoughts that come to mind is that, casinos need money to run keep their business going, they need to pay staff or site managers, they need to maintain their machines, or equipment or carry out regular website maintenance.
What also comes to mind is that they would also use some of these monies to run adverts, promos, and campaigns. And not forgetting the most important, lost monies are used to pay winners.

348Judah

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Quote from: cafter on March 07, 2023, 09:30:37 AM

where all money goes, in casino's pocket or where ,

Have you ever thought about where the money you received comes from whenever you gambles, the same answer you get when it comes where the money goes when you bursted everything up in a casino gambling, there's nothing too hard about knowing how each casinos make a run of their gambling site, they you gambles through them and they help you olace the bet, if you win they give you the money and if you loose your stake is gone, where it goes is non of your business as much as you don't care about where it comes from when you win.

arwin100

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Jack of all trades 💯

Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Money still goes to the owner or either to the casino as other people said, this is normal happening when you bust your account and not surprising at all. Many lose because of their own decision to take more risk trying to earn more money even if they are accumulating profits already. Also casino's is business so don't get surprised about this situation since this is normal, but if you can't afford to lost or get busted much better not to gamble especially if the amount you have is your hard earn money since you might complicate your situation if you lose all of it.

YOSHIE

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Quote from: cafter on March 07, 2023, 09:30:37 AM

the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,

As far as I know, if you have registered on an online gambling site and made a deposit and made a gambling bet there, you are already classified and included in the quote below.

Quote

Any money in your account would be classed as part of the company. You would lose any money in your account.

Means: the gambling company has access to your account, as well as the balance you have, yes they will take your funds, if this happens it a 'Blocking' from the online casino.

Different from other cases, for example: the customer/user chooses not to visit the casino again, in other words, the user deletes or deactivates his own account, in such cases the balance remains/frozen, the casino does not take it, if at any time the user accesses the account the balance is still there.

Conclusion: your question regarding the funds in the user's account, depending on the case faced by the user himself, Blocking & deactivating different options.

ralle14

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That is just the reality with casinos and even then those winning players that we see posted by casinos could be losing players as well because these big wins aren't enough proof to say they're in profit.

Also, I agree with swogerino the house edge you mentioned is now higher as most casinos have been offering games with higher house edge but it doesn't bother the players so they're probably making a lot more than what we expect. In the end, most gamblers lose even high rollers that's why we see gamblers usually say they play for fun and mainly go for the enjoyment of the game.

Oshosondy

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Gamble responsibly

Quote from: cafter on March 07, 2023, 09:30:37 AM

and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,

It is as simple as if you win, gambling site will take the money from those that lost, and if you lose, the gambling site will take the money that you lost and use it to pay those that won. But the truth is that most gamblers lose than win, because of that, gambling site pocket the remaining and grow bigger and have enough to pay if anyone win big later in the future.

mindrust

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
...

It goes to coke & blow. Sometimes lambos and weed too. Since you don't know how to have fun with your money, you donated yours to the casino owner and he is going to spend it like a king.

Quote from: cafter on March 07, 2023, 09:30:37 AM

...
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Of course they make huge profits. That's why they are in this business. You didn't think they do this for charity right?

If you are not OK with this fact, you can always choose not to play.

If you think they are making a killing and that's not fair, then you can create your own casino and do the same thing.

Mauser

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Not everybody in gambling is losing, there are also gamblers who make decent profit. And the profit they receive is the money someone else loses. Sure the casino is earning their share, but they are also the one that have to pay taxes, keep the site running and hire support staff. If the casino would give back all the profits to the customer than they would go bankrupt. It takes people to lose money for winners to pay out their winnings. Lottery is the best example, 99% of the people are losing so that a lucky few get rich.

Yogee

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Isn't it supposed to be added to the casino's bankroll? If you're asking for a more specific recipient other than the winning players then maybe to the owners when they decide to withdraw money to their own pockets. You could also add the Government to the list since they will have to pay taxes too hehe. How about the employees or the hired contractors they have to pay to keep the platform running smoothly?

swogerino

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Of course this is the case,the casinos make big profit thanks to what is called the house edge which is a percentage the casino house gets no matter if people win or lose money,this is from 3 to 5% most of the cases.We all know this,the problem is that the people playing,all of us who play at the casino are trying to be one of those very few persons who hit it big.I personally have hit a couple of times wins of over x3000 my bet in slot machines so sometimes in my gambling "career" I have hit it big although most of the times I like most of the people have lost money.

So keep playing only with money you can afford to lose and enjoy the rewards if you happen to hit it big.

cafter

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my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Topic: where the losed money goes? (Read 385 times)