Bitcoin Forum

It is understood from posting of gambling sites.. that they can run their sites with their house adage. But is it real? If all the gamblers continuously win,  can they run the site? as they are posting in their sites...

Just go google "House edge" and avoid a long, repeated discussion about it from sig spammers. And a simple answer to your question
House edge is as real as that hand you're typing this post with
No gamblers can't continuously win, Maths!

Gambling sites aren't charity sites, to give other people money. /thread

Yup the house will win the in long run. But I believe many people have underestimated how long is considered long enough for the actual profit to get very close to the EV. Glancing through the stats on https://dicesites.com/, you can see a couple of sites are doing considerably worse than what they "should be" (i.e. with a Profit/EV ratio considerably below 100%). In particular, Peerbet has a loss of 39.9 BTC after operating for over 2 years and have over 121 million bets.

If you won continuously, then a casino would fail to operate. They would lose their money. That's the money that they give to you if you win. The reason there's a house edge is so they make profit, it's +EV for them. So their bankroll gets bigger and bigger so they can accommodate larger bets and a larger room for error.

house edge means that it does not allow people to win all the time, it is a thing that makes profit for casinos and dos not allow people to win in a long run, thats why people say that there is no guaranteed strategy or something like that in gambling games

Here are a few links which answer your questions in detail :

http://vegasclick.com/gambling/houseedge.html

http://www.gamblingsites.com/online-casino/introduction/house-edge/

LOCK THIS THREAD as I reckon,the above links has everything you need.

it is the playing of statistic and probability. there is still chances that the people win or loss but the loss will be greater. and by the greed nature of the players, they will tends to loss more than win. this is where the casino or gamble sites earn the profit.

What i got to know from reading various articles, concerned to this, there are more chances to loss if we play continuously. If we have control on our greediness... there are chances of win.. some times.

Don't be concerned about survival of online casinos, they are doing well. Reason they can have so low House Edge is primary because of their minimalistic concept.
Usually They don't have to play licenses, they don't have to pay for place where people play, for gambling machines (slots, gambling tables) furniture etc.
They only pay for server expenses and maintenance cost of their computers and software which is rather insignificant amount.

Yes, in the long run the house always wins. The higher volume of players and bets made allows casinos with even a small edge of 1% to profit and stay in business.

There is a chance that they could collapse. However, with the house edge, the house will always win in the end so the longer they run, the more bankroll they have, and the less chance they have if collapsing.

The chance's of a casino going bankrupt are actually pretty high. The competition is too big, getting funds is not easy. If it was easy as starting a casino business and sitting back and what it grow because of house edge, everyone and their brother would be running a casino.

House will always have edge but they will always make money of people gambling

Good point. If you use moneypot or something though, you could start a casino safely, and once you get enough bankroll, make it independent. Still lots of risks though.

The most difficult thing to do in all businesses is actually getting the traffic in the first place, this is the reason why a lot of business in here if not all, invest in signature campaigns, because they are very efficient in sending people onto their websites. Without traffic you are a dead man walking in the business world.

Actually mate,you didn't really got the basics of gambling..what do you think people always wins and empty the casinos? lol..People lose in the long run and gambling sites make profit,The fact that ruins people winning is Greediness so if people just keeps playing to become rich overnight they will lose it all coz gamble depend on luck and luck do not favours everytime..Even if some Big player wins a big amount at the casino then also casino can stay and pay because there are various other users who are losing,it's not casino vs player but player vs player and player vs greediness lol,Casino's are just the medium..they will make the profit no matter you win or lose.

In short it's near impossible for gamblers to win constantly. If a casino is solvent & can cover themselves with 1 rare jackpot win then they're fine.

Have you ever seen a poor casino?

House edge - Google it :)

House edge doesnt depend on luck so it will make bankroll constantly go up where are house also win from the loss of the players. As we all know on long run house always win as player always lost on last being greedy.