Bitcoin Forum

Economy => Gambling discussion => Topic started by: PrediMarket on September 27, 2016, 11:01:39 AM



Title: How to gamble the right way
Post by: PrediMarket on September 27, 2016, 11:01:39 AM
Hi guys,

After seeing a lots of threads where people asked about the best gambling strategy, I thought I could share a bit of my knowledge on these questions in order to hopefully bring some insights to those who are not aware of it yet.

Please bear in my mind that the comments I will make are not my personal point of view on the topic of gambling, which is simply a form of financial investment, but only a recap of what is generally admitted among researchers in economics and by extension in the financial industry.

Also note that I will only talk about betting on real events like sport games (typically sports betting or trading on prediction markets).

Are there some martingale techniques that allow a gambler or an investor to make money at a single bookie?

As you probably know, there is none, simply because the bookmaker sets the rules for its bets in order to favor its own profit over its players' profit. This is generally achieved by setting a margin (overround).

All right, so that means there's no way I can make a profit in gambling?

Well, not really. You can actually make a profit out of gambling but you have to rely on other things than a simple technical procedure like a martingale.

Basically, there are two key aspects to take into account:
  • Information (e.g. teams' relative strengths)
  • Bankroll management (i.e. What percentage of your betting budget is it reasonable to bet)

I'll come back with details on these two aspects later on.

I said there is no martingale that guarantees you a profit at a single bookie but there is actually one that can do it if you bet at several bookies.
Most of you probably know it: it's called sure betting or simply arbitrage in financial terms.

The idea behind sure betting is the same as the one behind arbitrage. When you want to make an arbitrage on a financial market, you need to find two markets where the price of the same stock or whatever financial product is different. In such a case, you buy the stock on the cheaper market and you sell it on the more expensive one, thus ensuring a sure profit (the price difference).

Sure betting works similarly: you need to find at least two different bookies that will give odds high enough to ensure a sure profit. To be more specific, suppose you want to bet on a two-way game opposing A vs B. If odds_A denotes the (decimal) odds in favor of A and odds_B denotes the (decimal) odds in favor of B, then you need to find those odds such that: 1/odds_A + 1/odds_B < 1.

For example, if odds_A = 2 and odds_B = 2.1 then 1/2 + 1/2.1 = 0.976... < 1. Then, to make a sure bet, you just wage w*1/odds_A on A and w*1/odds_B on B where w is any number you want (the higher w, the higher your sure profit). When the game is decided:
  • if A wins: you get odds_A*(w*1/odds_A) - w*1/odds_A - w*1/odds_B = w*(1 - 1/odds_A - 1/odds_B) > 0
  • if B wins: you get odds_B*(w*1/odds_B) - w*1/odds_A - w*1/odds_B = w*(1 - 1/odds_A - 1/odds_B) > 0

In fact, when you bet money on the victory of A, it's like you "buy A" and when you bet money on the victory of B, it's like you "sell A" since it is the opposite of supporting the victory of A. Thus, you buy and sell the same product on two different bookies but at a different price, hence the profit.

Information

Information is just a general way of saying that you need to know the teams, players and games you are betting on.
While everybody knows that, it is often a good idea to push the concept a bit further and analyze the odds to see whether there is a betting opportunity (also referred to as value betting by gamblers).
When you see the set of odds offered by a bookie on a market (assuming that it did not receive any bets yet), it actually tells you what the bookie thinks about what is likely to happen in the game. Taking the same example as before with A and B, odds_A and odds_B can be break down into this:
  • odds_A = 1/(overround * p_A)
  • odds_B = 1/(overround * p_B)

where p_A and p_B are the respective implicit probabilities of A winning and B winning and overround is the margin of the bookie (>1) and can be calculated by:
overround = 1/odds_A + 1/odds_B. Putting, those formulas together, you have an easy way of calculating the implicit probabilities of the game, according to the bookmaker:
  • p_A = (1/odds_A) / (1/odds_A + 1/odds_B)
  • p_B = (1/odds_B) / (1/odds_A + 1/odds_B)

For example, if odds_A = 1.35 and odds_B = 3.05, then p_A = (1/1.35)/(1/1.35 + 1/3.05) = 69.3% and p_B = (1/3.05)/(1/1.35 + 1/3.05) = 30.7%.

Hence, if you have the same opinion, in other words the same probabilities, as the bookie for this game, the average net profit you would get out of this game by betting on A would be:
p_A * odds_A*w + p_B * 0 - w = w*(1/overround - 1) < 0 (and similarly for a bet on B)

which shows that in these conditions, it's not rationally a good idea to bet. Of course, you could still bet if you are "sure" that A or B is going to win but that's not a rational argument but I am leaving it aside for the sake of the discussion.

However, you can hold a different view on what's going to happen in the game, i.e. have a different opinion. Bookies are not error-proof as several university studies showed it over the years. Thus, if you think A has a chance of winning of q_A and B has a chance of winning of q_B, then your average net profit betting on A would be:
q_A * odds_A*w + q_B * 0 - w = w*(q_A/(p_A*overround) - 1) (and similarly for a bet on B)

In such a case, if q_A is high enough, i.e. you think A has much more chance of winning than what the bookie actually suggests, then you could achieve a profit (in average).
To be more specific, this will be the case if q_A/(p_A*overround) - 1 > 0 i.e q_A > p_A*overround = 1/odds_A. Of course, the more the overround is low (low margin), the more likely you are to find such opportunities at a bookie.

Bankroll management

Bankroll management is a much more complicated topic. The most well-known method of managing your betting amounts is the Kelly criterion.
It basically tells you how much you should bet on a particular outcome given the probabilities of the game and your betting budget as well. It aims at getting you the maximal possible increase of your bankroll over the time.
Another pro for using a bankroll management technique is that it forces you to avoid betting unreasonable amounts that could bankrupt you. Because if you are in that case, it is much more difficult to recover from your losses as you are dead broke and you do need money to bet.

I could elaborate more on the technical aspects of the Kelly criterion but I don't know if you guys are interested or not.

So, on top of my head, these are the most important facts to know when betting in order to avoid major fails.
If you have any questions or possibly don't agree (:)), let me know!


Title: Re: How to gamble the right way
Post by: Bardman on September 27, 2016, 11:55:42 AM
It seems very hard to find two different bitcoin websites that will give you high enough odds to make that work. I didn't really understand the second part and your formulas are really not clean, you could have made it much simpler.


Title: Re: How to gamble the right way
Post by: philiveyjr on September 27, 2016, 11:58:23 AM


Basically, there are two key aspects to take into account:
  • Information (e.g. teams' relative strengths)
  • Bankroll management (i.e. What percentage of your betting budget is it reasonable to bet)


Even if you know of the teams relative strength it still doesn't mean you will end up profitable. There is just a chance you might. Obviously bookies won't be offering such bets if it was possible.
3rd thing can be relying on different odds on different bookies and then making bets.


Title: Re: How to gamble the right way
Post by: PrediMarket on September 27, 2016, 12:33:59 PM
It seems very hard to find two different bitcoin websites that will give you high enough odds to make that work. I didn't really understand the second part and your formulas are really not clean, you could have made it much simpler.

For fiat money websites, you do have comparison tools which show you sure bet opportunities like http://www.bmbets.com/sure-bets/ (http://www.bmbets.com/sure-bets/) (not my site fyi).
For bitcoin betting sites, there might be similar tools but none that I am aware of.

In order to find such opportunities, your best chance is to hover websites which have low overround (i.e. margin) like https://predimarket.net (this is my site fyi) and make a little spreadsheet with predefined formulas computing the overround.

And what is the second part you refer to?


Title: Re: How to gamble the right way
Post by: PrediMarket on September 27, 2016, 12:36:01 PM


Basically, there are two key aspects to take into account:
  • Information (e.g. teams' relative strengths)
  • Bankroll management (i.e. What percentage of your betting budget is it reasonable to bet)


Even if you know of the teams relative strength it still doesn't mean you will end up profitable. There is just a chance you might. Obviously bookies won't be offering such bets if it was possible.
3rd thing can be relying on different odds on different bookies and then making bets.

That's what I explained below. You cannot be surely profitable at a single bookie, but it may be achievable at several bookies (for the same market).


Title: Re: How to gamble the right way
Post by: Herbert2020 on September 27, 2016, 12:37:57 PM
you are making things too complicated in my opinion.
the only important things to accept and always remember in gambling is
- managing your money: know how much you are willing to invest and how much of it you are willing to lose.
- try to use a good strategy and know the pros and cons of the strategy that you are using. so even using martingale method can be good if you use it right.
- and in the end you should always remember this is gambling and there is no right or wrong and there is certainly no guarantee to always win.


Title: Re: How to gamble the right way
Post by: Katanabits on September 27, 2016, 12:41:14 PM


Basically, there are two key aspects to take into account:
  • Information (e.g. teams' relative strengths)
  • Bankroll management (i.e. What percentage of your betting budget is it reasonable to bet)


Even if you know of the teams relative strength it still doesn't mean you will end up profitable. There is just a chance you might. Obviously bookies won't be offering such bets if it was possible.
3rd thing can be relying on different odds on different bookies and then making bets.
Yeah right also its not 100% sure its all depends in our luck but it can give idea for those who gamblers out there that they didn't know if what they want to bet.


Title: Re: How to gamble the right way
Post by: PrediMarket on September 27, 2016, 01:00:11 PM
you are making things too complicated in my opinion.
the only important things to accept and always remember in gambling is
- managing your money: know how much you are willing to invest and how much of it you are willing to lose.
- try to use a good strategy and know the pros and cons of the strategy that you are using. so even using martingale method can be good if you use it right.
- and in the end you should always remember this is gambling and there is no right or wrong and there is certainly no guarantee to always win.

Basically, I am just describing what you need to know and take care of if you are really serious about making money with gambling.
Of course, if it is a simple hobby, then you probably don't have to bother with any of these technical aspects and simply bet on what you fancy.

About the martingale, well it all depends what martingale you are talking about (there are many) and also what you mean exactly by martingale (the official definition is "a class of betting strategies" implicitly involving a single gambling house a.k.a. bookmaker).
But if there was one that would guarantee you a profit, it would be known, not only by gamblers but also by financial investors because both gambling and trading are essentially the same kind of activity.


Title: Re: How to gamble the right way
Post by: ronaldo40 on September 27, 2016, 01:26:27 PM


Basically, there are two key aspects to take into account:
  • Information (e.g. teams' relative strengths)
  • Bankroll management (i.e. What percentage of your betting budget is it reasonable to bet)


Even if you know of the teams relative strength it still doesn't mean you will end up profitable. There is just a chance you might. Obviously bookies won't be offering such bets if it was possible.
3rd thing can be relying on different odds on different bookies and then making bets.
Yeah right also its not 100% sure its all depends in our luck but it can give idea for those who gamblers out there that they didn't know if what they want to bet.
I don't think about luck. most importantly I usually do good research about the team prior to the bet if I do at sports betting. the problem of luck that is the last thing. because we all know gambling has always had luck. bankroll is very important, I always put my money under 50% for bet, due in part to back up. Sports gambling also is arguably easier to predict than other types of gambling that are 90% depend on luck.


Title: Re: How to gamble the right way
Post by: ultrloa on September 27, 2016, 01:39:47 PM


Basically, there are two key aspects to take into account:
  • Information (e.g. teams' relative strengths)
  • Bankroll management (i.e. What percentage of your betting budget is it reasonable to bet)


Even if you know of the teams relative strength it still doesn't mean you will end up profitable. There is just a chance you might. Obviously bookies won't be offering such bets if it was possible.
3rd thing can be relying on different odds on different bookies and then making bets.
Yeah right also its not 100% sure its all depends in our luck but it can give idea for those who gamblers out there that they didn't know if what they want to bet.
I don't think about luck. most importantly I usually do good research about the team prior to the bet if I do at sports betting. the problem of luck that is the last thing. because we all know gambling has always had luck. bankroll is very important, I always put my money under 50% for bet, due in part to back up. Sports gambling also is arguably easier to predict than other types of gambling that are 90% depend on luck.

Well if we are talking about sportsbetting well the luck is just a bunos on that platform since it is the biggest advantage for bettors if they know the league or the rooster where they are placing their bet for and deep analytical statistic research would really help for that so we can assured that our chances to win is big, and if they mean casino games well i think it needs strat since it is our pointer that we are on the right track and playing good on that games.


Title: Re: How to gamble the right way
Post by: dunfida on September 27, 2016, 02:16:18 PM


Basically, there are two key aspects to take into account:
  • Information (e.g. teams' relative strengths)
  • Bankroll management (i.e. What percentage of your betting budget is it reasonable to bet)


Even if you know of the teams relative strength it still doesn't mean you will end up profitable. There is just a chance you might. Obviously bookies won't be offering such bets if it was possible.
3rd thing can be relying on different odds on different bookies and then making bets.
Yeah right also its not 100% sure its all depends in our luck but it can give idea for those who gamblers out there that they didn't know if what they want to bet.
I don't think about luck. most importantly I usually do good research about the team prior to the bet if I do at sports betting. the problem of luck that is the last thing. because we all know gambling has always had luck. bankroll is very important, I always put my money under 50% for bet, due in part to back up. Sports gambling also is arguably easier to predict than other types of gambling that are 90% depend on luck.

Well if we are talking about sportsbetting well the luck is just a bunos on that platform since it is the biggest advantage for bettors if they know the league or the rooster where they are placing their bet for and deep analytical statistic research would really help for that so we can assured that our chances to win is big, and if they mean casino games well i think it needs strat since it is our pointer that we are on the right track and playing good on that games.

Agree , having some observations and  research regarding with your team or player   would  somehow make  an edge   with your bettings since you could somehow assured that  you may have higher  chance on winning  but  we  must not  forget  that  if luck isnt  on our side  those  strategies and  research would be nothing and  we would  surely lose.


Title: Re: How to gamble the right way
Post by: Daffadile on September 27, 2016, 02:36:18 PM
I think if you not lazy and do the right research that you can make profits. I think most people don't do the research they need to and thus they are the ones that keep the bookies paid. You need money management as well because you dont want to bet everything in just one bet.


Title: Re: How to gamble the right way
Post by: talkbitcoin on September 27, 2016, 02:36:45 PM


Basically, there are two key aspects to take into account:
  • Information (e.g. teams' relative strengths)
  • Bankroll management (i.e. What percentage of your betting budget is it reasonable to bet)


Even if you know of the teams relative strength it still doesn't mean you will end up profitable. There is just a chance you might. Obviously bookies won't be offering such bets if it was possible.
3rd thing can be relying on different odds on different bookies and then making bets.
Yeah right also its not 100% sure its all depends in our luck but it can give idea for those who gamblers out there that they didn't know if what they want to bet.
I don't think about luck. most importantly I usually do good research about the team prior to the bet if I do at sports betting. the problem of luck that is the last thing. because we all know gambling has always had luck. bankroll is very important, I always put my money under 50% for bet, due in part to back up. Sports gambling also is arguably easier to predict than other types of gambling that are 90% depend on luck.

i also think this way about gambling.
there are a lot of different games to gamble in. but around here whenever we say gambling the first thing everybody thinks about is dice games and how it is 100% luck.

but in fact there are sports betting and many other card games like poker that require a great deal of skills and it is never more than 10% luck with these game.


Title: Re: How to gamble the right way
Post by: jtipt on September 27, 2016, 02:55:20 PM
I think if you not lazy and do the right research that you can make profits. I think most people don't do the research they need to and thus they are the ones that keep the bookies paid. You need money management as well because you dont want to bet everything in just one bet.
Yeah you are right most people just gamble casually on the team they "think" will win or some just out right bet on the higgest odd and hope to get lucky. Thats not the right way to gamble in this way you will definitely lose more than you gain. If you do even little research it can really help you decide where to bet and how much to bet.


Title: Re: How to gamble the right way
Post by: Bardman on September 27, 2016, 03:00:03 PM
It seems very hard to find two different bitcoin websites that will give you high enough odds to make that work. I didn't really understand the second part and your formulas are really not clean, you could have made it much simpler.

For fiat money websites, you do have comparison tools which show you sure bet opportunities like http://www.bmbets.com/sure-bets/ (http://www.bmbets.com/sure-bets/) (not my site fyi).
For bitcoin betting sites, there might be similar tools but none that I am aware of.

In order to find such opportunities, your best chance is to hover websites which have low overround (i.e. margin) like https://predimarket.net (this is my site fyi) and make a little spreadsheet with predefined formulas computing the overround.

And what is the second part you refer to?


The part with the bookie and their odds. So you are basically calculating the profit based on what the bookie expectations or odds are but how can you take advantage of that?


Title: Re: How to gamble the right way
Post by: raphma on September 27, 2016, 03:24:01 PM
so, you're talking only about betting on sports right? because that wasn't clear and i feel like many people were coming here expecting to see a dice betting bot.


Title: Re: How to gamble the right way
Post by: Red-Apple on September 27, 2016, 03:37:05 PM
so, you're talking only about betting on sports right? because that wasn't clear and i feel like many people were coming here expecting to see a dice betting bot.

yeah it is. and since it is a long wall of text i doubt that anybody is going to read it completely especially since the majority of users around here are betting in dice games.

and to be honest he lost me right in the 4th paragraph when said sports betting and "trading" since they have nothing in common :)


Title: Re: How to gamble the right way
Post by: PrediMarket on September 27, 2016, 04:07:26 PM
It seems very hard to find two different bitcoin websites that will give you high enough odds to make that work. I didn't really understand the second part and your formulas are really not clean, you could have made it much simpler.

For fiat money websites, you do have comparison tools which show you sure bet opportunities like http://www.bmbets.com/sure-bets/ (http://www.bmbets.com/sure-bets/) (not my site fyi).
For bitcoin betting sites, there might be similar tools but none that I am aware of.

In order to find such opportunities, your best chance is to hover websites which have low overround (i.e. margin) like https://predimarket.net (this is my site fyi) and make a little spreadsheet with predefined formulas computing the overround.

And what is the second part you refer to?


The part with the bookie and their odds. So you are basically calculating the profit based on what the bookie expectations or odds are but how can you take advantage of that?

I assume you are talking about "value betting" not "sure betting".

A value bet is a betting opportunity where you think one outcome (e.g. the victory of whatever team or player) is more likely to occur than the odds of the bookmaker actually suggest. If you check the calculations in the original post, I am showing how to compute the "opinion" of the bookmaker towards the game. Using the formula I gave, you can calculate the probability of victory of team A according to the bookmaker and see what he actually thinks is going to happen in the end.
I also gave a formula to compute the margin that the bookie takes, to give you a better idea of how "greedy" he is.
The opinion (i.e. probabilities) and margin are simple metrics that can help you decide if the bet is worth something or not.

As per how to take advantage of that, you need to first "decide" what your own probabilities are and then compare them to the odds of the bookmaker (see OP).

An example of that:

A plays against B and you can bet on either A or B.
Assume that you compute the "opinion" of the bookmaker and find that he thinks that A has 60% chance to win and B has 40% chance to win.
You also compute the margin and find 5% (that makes an overround of 1.05).
(All of this combined means the odds for A and B are respectively 1.587 and 2.380)

Now you need to "decide" what is your opinion of the game A vs B, in terms of probabilities: is it 65% for A and 35% for B, or maybe 70% | 30% or even 60% | 30% like the bookmaker. These values are yours to decide, they are up to your knowledge and expertise of the game.

If you think A has 65% chance of winning, then you compare this value to the inverse of the odds for A i.e. 1/1.587 which is equal to 0.630 roughly: you can see that it is smaller than 65% (=0.65). In these conditions, betting on A is an opportunity from your point of view and you should bet on A.
On the contrary, if you think A has no more than 60% chance of winning, then you should not bet on A (at this bookie at least) given that 0.60 < 0.630.

Of course, there's a thin line between assessing the chances of winning at 60% or 65% but this is what can give you an edge. And more realistically, you should only bet when you notice a significant difference between your probability and the bookmaker's, just to give you room for estimation errors.




Title: Re: How to gamble the right way
Post by: NorrisK on September 27, 2016, 04:09:25 PM
so, you're talking only about betting on sports right? because that wasn't clear and i feel like many people were coming here expecting to see a dice betting bot.

yeah it is. and since it is a long wall of text i doubt that anybody is going to read it completely especially since the majority of users around here are betting in dice games.

and to be honest he lost me right in the 4th paragraph when said sports betting and "trading" since they have nothing in common :)

The trading he is mentioning is basically selling or buying into the fact that a certain event is going to happen. This is gambling, as the event outcome is unknown.

It is like buying into a bet saying Trump will win the elections. To me that is still betting.


Title: Re: How to gamble the right way
Post by: PrediMarket on September 27, 2016, 04:16:29 PM
so, you're talking only about betting on sports right? because that wasn't clear and i feel like many people were coming here expecting to see a dice betting bot.

Yes, I mentioned it in the beginning:

"Also note that I will only talk about betting on real events like sport games (typically sports betting or trading on prediction markets)."

And pro tip: (normally) there should be no way to make a profitable dice betting bot since dice is a just a game of chance which is rigged in favor of the gambling house. The chance in a computer is simulated by random number generators (which are not actually random if they purely rely on software) and unless you know the pattern of the random number generator, you cannot take a statistical advantage over the program, unless of course it has been coded by a donkey and there's an obvious flaw that you can exploit.


Title: Re: How to gamble the right way
Post by: PrediMarket on September 27, 2016, 04:23:36 PM
so, you're talking only about betting on sports right? because that wasn't clear and i feel like many people were coming here expecting to see a dice betting bot.

yeah it is. and since it is a long wall of text i doubt that anybody is going to read it completely especially since the majority of users around here are betting in dice games.

and to be honest he lost me right in the 4th paragraph when said sports betting and "trading" since they have nothing in common :)

The trading he is mentioning is basically selling or buying into the fact that a certain event is going to happen. This is gambling, as the event outcome is unknown.

It is like buying into a bet saying Trump will win the elections. To me that is still betting.

Trading is a very general term to designate the activity on financial markets: it can mean buying/selling commodities, hedging against some risks...

When you trade, you make a contract with another party and you could design for example a hedging contract that will pay you 100,000$ if Trump is elected (because it may be bad for your immigration-related business) and 0$ if Clinton wins. Of course, that contract has a price which you pay upfront.

And if you compare it to sports betting, well it is exactly the same thing.  :P


Title: Re: How to gamble the right way
Post by: iqlimasyadiqa on September 27, 2016, 10:00:55 PM
there is no right way to play gambling. gambling is staked money that you have. so the luck factor that was the deciding factor.
I have so much to play gambling, but it is very difficult to win the game if it's without luck.


Title: Re: How to gamble the right way
Post by: fullypak on September 28, 2016, 01:30:56 AM
there is no right way to play gambling. gambling is staked money that you have. so the luck factor that was the deciding factor.
I have so much to play gambling, but it is very difficult to win the game if it's without luck.

But there is a right way to play because as you already understood that you could win money from the gambling, then you should gambling only sometimes when you think the need for some fun or entertainment with the fixed little amount to avoid significant losses. In this way, you save a lot of money over the time, and this can be called one right to reduce your loses.


Title: Re: How to gamble the right way
Post by: J Gambler on September 28, 2016, 01:36:51 AM
I think if you not lazy and do the right research that you can make profits. I think most people don't do the research they need to and thus they are the ones that keep the bookies paid. You need money management as well because you dont want to bet everything in just one bet.
Yeah you are right most people just gamble casually on the team they "think" will win or some just out right bet on the higgest odd and hope to get lucky. Thats not the right way to gamble in this way you will definitely lose more than you gain. If you do even little research it can really help you decide where to bet and how much to bet.
It seem that not people are always lazy when it comes of playing gambling they really think that they can do what ever they want  on gambling most of all loosing money for them is does'nt matter at all as long as they are earning money from gambling they don't think about the risk


Title: Re: How to gamble the right way
Post by: ardentvolcanoes on September 28, 2016, 02:46:03 AM
there is no right way to play gambling. gambling is staked money that you have. so the luck factor that was the deciding factor.
I have so much to play gambling, but it is very difficult to win the game if it's without luck.

But there is a right way to play because as you already understood that you could win money from the gambling, then you should gambling only sometimes when you think the need for some fun or entertainment with the fixed little amount to avoid significant losses. In this way, you save a lot of money over the time, and this can be called one right to reduce your loses.

there is no right way to play but you can play gambling wisely , putting a lower bets , avoid greediness and do not expect too much from gambling and that's it . you could earn money from gambling but how sure are you that you can make it daily . as far as i know gambling isn't a right place to make a profit .


Title: Re: How to gamble the right way
Post by: traderethereum on September 28, 2016, 04:03:49 AM
there is no right way to play gambling. gambling is staked money that you have. so the luck factor that was the deciding factor.
I have so much to play gambling, but it is very difficult to win the game if it's without luck.

But there is a right way to play because as you already understood that you could win money from the gambling, then you should gambling only sometimes when you think the need for some fun or entertainment with the fixed little amount to avoid significant losses. In this way, you save a lot of money over the time, and this can be called one right to reduce your loses.

there is no right way to play but you can play gambling wisely , putting a lower bets , avoid greediness and do not expect too much from gambling and that's it . you could earn money from gambling but how sure are you that you can make it daily . as far as i know gambling isn't a right place to make a profit .

without that suggestion, we only have to get loss our money very quickly and we will regret it. so i hope we can make a bet that we are ready to get loss so when we really loss, its not make us to sad.


Title: Re: How to gamble the right way
Post by: pooya87 on September 28, 2016, 04:35:44 AM
the right way to gamble is either not gamble at all and stay away from all gambling related places if you love your money or instead you can choose to only gamble with free money these gambling sites give you like the faucet or promotional giveaways they have.


Title: Re: How to gamble the right way
Post by: Erza on September 28, 2016, 05:04:40 AM
there is no right way to play gambling. gambling is staked money that you have. so the luck factor that was the deciding factor.
I have so much to play gambling, but it is very difficult to win the game if it's without luck.

Yeah I agree on you, there is no such thing in gamble because you cant always win it but you said you have a lot of money to play it so I guess it wont be a problem if you dont have luck or not. Because the higher capital you have that means luck will surely come to you. Mostly people bet without knowing their capital and their basebet. With a good control of this I think everyone will have a good profit then


Title: Re: How to gamble the right way
Post by: coynedterm on September 28, 2016, 05:15:29 AM
lol , it is a very complicated programing like calaculation and i don't think there can be a better way to gamble with these type of stretgy or calaculation . best way is that keep away himself from lossable gambling .


Title: Re: How to gamble the right way
Post by: Fraxinus on September 28, 2016, 06:13:14 AM
Go all in on red on the dice site :D
That's the right way


Title: Re: How to gamble the right way
Post by: audaciousbeing on September 28, 2016, 06:22:16 AM
I try to understand how you pass across your ideas but I just didnt understand it but one thing I know and I hold dear is that the right way to gambling is to keep to the basic rule of gambling among which are gamble what you can afford to lose, if this is not kept too then I say there is no amount of strategy that will work out since its gambling and its a game of chance...


Title: Re: How to gamble the right way
Post by: klf on September 28, 2016, 07:03:32 AM
lol , it is a very complicated programing like calaculation and i don't think there can be a better way to gamble with these type of stretgy or calaculation . best way is that keep away himself from lossable gambling .

If you can't afford to lose money then it is very good to avoid gambling. But If people want to gamble just for a fun then they should fix some money for each session to gamble then you can fix the loss per day and will not lose much. This may not be the right way but you can enjoy the existing games with fixed small amount.


Title: Re: How to gamble the right way
Post by: Golftech on September 28, 2016, 07:15:06 AM
lol , it is a very complicated programing like calaculation and i don't think there can be a better way to gamble with these type of stretgy or calaculation . best way is that keep away himself from lossable gambling .

If you can't afford to lose money then it is very good to avoid gambling. But If people want to gamble just for a fun then they should fix some money for each session to gamble then you can fix the loss per day and will not lose much. This may not be the right way but you can enjoy the existing games with fixed small amount.
if just for fun its better to place the amount that you can afford to lose and just to satisfied your luxury, when if you are aiming for profits just to set your actual amount of goal and if lucks permits you quit right away.


Title: Re: How to gamble the right way
Post by: Sandroxa on September 28, 2016, 07:31:11 AM
I dont think there is such a way as gambling right because gambling is gambling you will never know waht will happen unless you know the card counting or something else.


Title: Re: How to gamble the right way
Post by: olubams on September 28, 2016, 07:50:06 AM
I try to understand how you pass across your ideas but I just didnt understand it but one thing I know and I hold dear is that the right way to gambling is to keep to the basic rule of gambling among which are gamble what you can afford to lose, if this is not kept too then I say there is no amount of strategy that will work out since its gambling and its a game of chance...

I agree with this in all totality as I share the same view with this, the right way to gambling in as much I want to learn this right way as I am also in gambling, mostly sports gambling though, imagine making a bet of a win on Real Madrid against Dorthsmund with nice odds the game was on and right from the beginning and Madrid was winning as at the 85th minute but unfortunately for me Dorthmund equalizes and the game ended with a draw at the last minute. Can anybody tell me the right way to have done that or I didnt bet right? Gambling is a game of chance and no right way to it. You just reduce the chances of losing...


Title: Re: How to gamble the right way
Post by: DomesticTrader on September 28, 2016, 08:13:39 AM
I dont think theree is such a way as smart gambling maybe the right way to gamble is to not to gamble and that is the thing i want to tell you dont gamble with bitcoins there meant for other things.


Title: Re: How to gamble the right way
Post by: puremage111 on September 28, 2016, 08:23:11 AM
i didn't actually read on all the arbitrage calculation as thats too long but i agree with, if you able to compare different betting brokers, and control your bank management, there's chance that you will profit more than losses because im the guy, who doesn't control my bankroll well :)


Title: Re: How to gamble the right way
Post by: vasrasus on September 28, 2016, 08:25:38 AM
I dont think theree is such a way as smart gambling maybe the right way to gamble is to not to gamble and that is the thing i want to tell you dont gamble with bitcoins there meant for other things.


Are you serious? Of course in every activity that people made, there is always a smart way, Gambling with self control and limitation on amount of funds to be risk is the smart way of gambling. I agree that it is a right way too if you avoid gambling and take risk.


Title: Re: How to gamble the right way
Post by: iv4n on September 28, 2016, 09:14:06 AM
In gambling there is no middle, you can win or lose. You balance can be negative or positive, I doubt that anyone is one zero with gambling. There is no right way, or some special formula for winning in gambling. You need to try your luck, that it`s only thing that is important.
People deposit 10, 20 dollars in casino, and expect to earn fortune there, well it`s not working like that. You wish to gamble in right way, deposit 10 000 dollars, and play 1-2 dollar hands. When you think its your time, rise to 50-100. You lost, think twice before you rise again, maybe its better to return on 1-2  and then feel again when to rise on 200-300 dollars. You need to have cool head if you wish to gamble in the right way, to know when to pull, when to back up.


Title: Re: How to gamble the right way
Post by: talkbitcoin on September 28, 2016, 11:00:55 AM
I dont think theree is such a way as smart gambling maybe the right way to gamble is to not to gamble and that is the thing i want to tell you dont gamble with bitcoins there meant for other things.


Are you serious? Of course in every activity that people made, there is always a smart way, Gambling with self control and limitation on amount of funds to be risk is the smart way of gambling. I agree that it is a right way too if you avoid gambling and take risk.

there is no smart way of gambling that leads to 100% win rate and if he means this case then i agree with him. but at the same time the only thing that we can do is to make a better plan or strategy for our gambling games to be a little bit more successful and have more fun but it is never possible to have 100% win rate.


Title: Re: How to gamble the right way
Post by: xuan87 on September 28, 2016, 11:05:58 AM
lol , it is a very complicated programing like calaculation and i don't think there can be a better way to gamble with these type of stretgy or calaculation . best way is that keep away himself from lossable gambling .
well it is true its very complicated, but if you are serious about gambling, then you need to understand the probability and the calculation, the tips that OP provide actually its very useful, but its a bit complicated for starter, and as for myself i only play or fun, i dont really want to bother with the complicated calculation, i just want to enjoy the activity


Title: Re: How to gamble the right way
Post by: newcripto on September 28, 2016, 11:06:58 AM
When you convince yourself that there is some right way,smart way or safer way to gamble this is first wrong step in my opinion. I have been in gambling for over 10 years and can say on based of my experience gambling is taking risk straight where you can win or loose in any type of gambling. Sports betting is not safer or smart way either as you may loose on any strong team.


Title: Re: How to gamble the right way
Post by: Rostadom on September 28, 2016, 11:14:00 AM
There's no written agreement or any standards about gambling in the "right" way. Thinking that you're gambling in the right way just because you're doing "safe" betting, low multipliers, low bet amount, is just all an illusion. An illusion that you're doing it the right way, a way for you to convince yourself that you're somewhat different from other gamblers. At the end of the day, you'll still be losing money from gambling.


Title: Re: How to gamble the right way
Post by: Bardman on September 28, 2016, 11:41:27 AM
It seems very hard to find two different bitcoin websites that will give you high enough odds to make that work. I didn't really understand the second part and your formulas are really not clean, you could have made it much simpler.

For fiat money websites, you do have comparison tools which show you sure bet opportunities like http://www.bmbets.com/sure-bets/ (http://www.bmbets.com/sure-bets/) (not my site fyi).
For bitcoin betting sites, there might be similar tools but none that I am aware of.

In order to find such opportunities, your best chance is to hover websites which have low overround (i.e. margin) like https://predimarket.net (this is my site fyi) and make a little spreadsheet with predefined formulas computing the overround.

And what is the second part you refer to?


The part with the bookie and their odds. So you are basically calculating the profit based on what the bookie expectations or odds are but how can you take advantage of that?

I assume you are talking about "value betting" not "sure betting".

A value bet is a betting opportunity where you think one outcome (e.g. the victory of whatever team or player) is more likely to occur than the odds of the bookmaker actually suggest. If you check the calculations in the original post, I am showing how to compute the "opinion" of the bookmaker towards the game. Using the formula I gave, you can calculate the probability of victory of team A according to the bookmaker and see what he actually thinks is going to happen in the end.
I also gave a formula to compute the margin that the bookie takes, to give you a better idea of how "greedy" he is.
The opinion (i.e. probabilities) and margin are simple metrics that can help you decide if the bet is worth something or not.

As per how to take advantage of that, you need to first "decide" what your own probabilities are and then compare them to the odds of the bookmaker (see OP).

An example of that:

A plays against B and you can bet on either A or B.
Assume that you compute the "opinion" of the bookmaker and find that he thinks that A has 60% chance to win and B has 40% chance to win.
You also compute the margin and find 5% (that makes an overround of 1.05).
(All of this combined means the odds for A and B are respectively 1.587 and 2.380)

Now you need to "decide" what is your opinion of the game A vs B, in terms of probabilities: is it 65% for A and 35% for B, or maybe 70% | 30% or even 60% | 30% like the bookmaker. These values are yours to decide, they are up to your knowledge and expertise of the game.

If you think A has 65% chance of winning, then you compare this value to the inverse of the odds for A i.e. 1/1.587 which is equal to 0.630 roughly: you can see that it is smaller than 65% (=0.65). In these conditions, betting on A is an opportunity from your point of view and you should bet on A.
On the contrary, if you think A has no more than 60% chance of winning, then you should not bet on A (at this bookie at least) given that 0.60 < 0.630.

Of course, there's a thin line between assessing the chances of winning at 60% or 65% but this is what can give you an edge. And more realistically, you should only bet when you notice a significant difference between your probability and the bookmaker's, just to give you room for estimation errors.




Ok but in that case couldn't you profit just from copying the bookies predictions? Always betting on the team he thinks has better odds, obviously the profit won't be much but as you said they are pretty accurate, not 100% so you might as well just copy them no? After all when you bet on a team you always bet on it because you think its gonna win no matter what the bookie says, have you tried your "strategy" long term?


Title: Re: How to gamble the right way
Post by: J Gambler on September 28, 2016, 11:46:58 AM
the right way to gamble is either not gamble at all and stay away from all gambling related places if you love your money or instead you can choose to only gamble with free money these gambling sites give you like the faucet or promotional giveaways they have.
You're buddy the right way to not lose money or bitcoin from gambling is stay away from all gambling site where you could lose your money in a second and you could not turn it back for me it is better not to gambling and instead of gambling do trading so that you can know more about cryptop


Title: Re: How to gamble the right way
Post by: raphma on September 28, 2016, 12:50:51 PM
the right way to gamble is either not gamble at all and stay away from all gambling related places if you love your money or instead you can choose to only gamble with free money these gambling sites give you like the faucet or promotional giveaways they have.
You're buddy the right way to not lose money or bitcoin from gambling is stay away from all gambling site where you could lose your money in a second and you could not turn it back for me it is better not to gambling and instead of gambling do trading so that you can know more about cryptop

it's not like that... you just cant see gambling as an investment. but still fun to play as long as you do it with little amounts. trading is a investment and most of the time is boring, so gambling can break the monotony.
again, different things and gambling will never be a investment... you will lose more than you win.


Title: Re: How to gamble the right way
Post by: 20kevin20 on September 28, 2016, 12:55:02 PM
The right way? Well, the only 'right' way existing is the control. Manage your money, keep your savings safe somewhere and only play with affordable amounts. You can play with more than you can afford too, but then don't ask again what you can do and stop whining about losing. I've gambled with more than I afforded to just once, I regret it and I never did it again ever since. Take care!


Title: Re: How to gamble the right way
Post by: shanem on September 28, 2016, 01:01:58 PM
The right way? Well, the only 'right' way existing is the control. Manage your money, keep your savings safe somewhere and only play with affordable amounts. You can play with more than you can afford too, but then don't ask again what you can do and stop whining about losing. I've gambled with more than I afforded to just once, I regret it and I never did it again ever since. Take care!

The only 'right' way is money management and your self control when gambling. Other than that, there is no 'right' way. You need to depend on your luck during your game. This is all I can say about what you can do to try to prevent your loss of capital.


Title: Re: How to gamble the right way
Post by: doomistake on September 28, 2016, 01:11:15 PM
There's no such thing like that in gambling. Because in the first place gambling is not right for us to do to earn a living and to get a profit from it, if the word itself "gambling" is not right from the very start, how come that there is a right way in gambling? I think this is ridiculous just for my opinion. You can never do gambling in the right because everything in gambling is illegal and against from the God's word. And if what you're saying is the right way in gambling for you to win is also the same thing like what I've said earlier, there's no such thing like that in gambling because you're only winning because the house have already planned it for you to be more addicted to it because you're thinking that you're good at it and you will never get lose.


Title: Re: How to gamble the right way
Post by: deadlyunknown on September 28, 2016, 01:16:58 PM
Self control is one way to balance your activity in gambling. If you focus mainly on profit, then sports betting or poket is the best method for you.


Title: Re: How to gamble the right way
Post by: Denker on September 28, 2016, 01:17:26 PM
That does not exist.
Some prefer to take lots of risk, others not. Some may use or prefer high odds and one single bet, and again others prefer to take lower odds and diverce with several bets.
Some care about money and how much they may loose, others don't give a damn.
There's no guide in the world of gambling to tell or teach you what is right and what is wrong.
Find your own way, and when it is successful, then stick to it and don't listen to what others would change if they were you.


Title: Re: How to gamble the right way
Post by: sana54210 on September 28, 2016, 01:19:19 PM
The right way? Well, the only 'right' way existing is the control. Manage your money, keep your savings safe somewhere and only play with affordable amounts. You can play with more than you can afford too, but then don't ask again what you can do and stop whining about losing. I've gambled with more than I afforded to just once, I regret it and I never did it again ever since. Take care!

The only 'right' way is money management and your self control when gambling. Other than that, there is no 'right' way. You need to depend on your luck during your game. This is all I can say about what you can do to try to prevent your loss of capital.
Money management might get you stop gambling at right time but will not guarantee for the right way of gambling.

Self control is the thing it is not at all possible for any gamblers regardless of their experience as gambling will be playing against your smartness to lose your self control.

Luck may be the perfect factor for the right way of gambling. But no one will be able to control his lack, so that right way of gambling might be an impossible way.


Title: Re: How to gamble the right way
Post by: futurebit640 on September 28, 2016, 01:36:41 PM
Sports betting is the safe betting in gambling. Here choose your fav game and check the players and team previous performance. Place your bet on low odds like @1.10 or @1.20. if you are looking for small profit then place small amount. if you have big bankroll they place high amount. these odds are almost 90% winning odds. SO try this once and share your experience.


Title: Re: How to gamble the right way
Post by: Superbitzz on September 28, 2016, 04:45:36 PM
if you really want to gambling in right way you need to play gambling in a limit with some strategy, if you will limit your gambling it mean that you will minimize your huge risk of loosing money, and that is also the only way of safe gambling.


Title: Re: How to gamble the right way
Post by: harizen on September 28, 2016, 04:52:33 PM
Sports betting is the safe betting in gambling. Here choose your fav game and check the players and team previous performance. Place your bet on low odds like @1.10 or @1.20. if you are looking for small profit then place small amount. if you have big bankroll they place high amount. these odds are almost 90% winning odds. SO try this once and share your experience.

Odds like 1.10 or 1.20 is not worth it. It's like playing in the faucet. Better improve it to 1.8 above so that we are not wasting opportunities.

No worries about the loss since by using the classic martingale people can get back the loss*. If in a case, people really suffers, let' say 10 consecutive lost, then better stop gambling as it's really unusual for a sports bettor to get lost in that number of streaks. What a bad luck they have.


Title: Re: How to gamble the right way
Post by: PrediMarket on September 28, 2016, 04:55:18 PM
When you convince yourself that there is some right way,smart way or safer way to gamble this is first wrong step in my opinion. I have been in gambling for over 10 years and can say on based of my experience gambling is taking risk straight where you can win or loose in any type of gambling. Sports betting is not safer or smart way either as you may loose on any strong team.

Two centuries ago, people would never fly in machines made of metal for their whole life and would have told you that it is impossible to do so.

There are techniques that can help you play better at sportsbetting. It gets mathematical quite quickly but if you stick to the basic principles (like the ones I exposed), it is not that difficult and could make a difference in your winnings: you might not be able to be profitable, but you will surely lose less money.


Title: Re: How to gamble the right way
Post by: crairezx20 on September 28, 2016, 04:56:58 PM
if you really want to gambling in right way you need to play gambling in a limit with some strategy, if you will limit your gambling it mean that you will minimize your huge risk of loosing money, and that is also the only way of safe gambling.
Yeah you have the point just limit and dont be greedy if you are not satisfied what you had you will lose a lot.. so be wise if you made already a profit better to withdraw it and secure you profit..
Try sports betting is more chance to win there unlike other dice game or slots..


Title: Re: How to gamble the right way
Post by: PrediMarket on September 28, 2016, 05:36:47 PM
It seems very hard to find two different bitcoin websites that will give you high enough odds to make that work. I didn't really understand the second part and your formulas are really not clean, you could have made it much simpler.

For fiat money websites, you do have comparison tools which show you sure bet opportunities like http://www.bmbets.com/sure-bets/ (http://www.bmbets.com/sure-bets/) (not my site fyi).
For bitcoin betting sites, there might be similar tools but none that I am aware of.

In order to find such opportunities, your best chance is to hover websites which have low overround (i.e. margin) like https://predimarket.net (this is my site fyi) and make a little spreadsheet with predefined formulas computing the overround.

And what is the second part you refer to?


The part with the bookie and their odds. So you are basically calculating the profit based on what the bookie expectations or odds are but how can you take advantage of that?

I assume you are talking about "value betting" not "sure betting".

A value bet is a betting opportunity where you think one outcome (e.g. the victory of whatever team or player) is more likely to occur than the odds of the bookmaker actually suggest. If you check the calculations in the original post, I am showing how to compute the "opinion" of the bookmaker towards the game. Using the formula I gave, you can calculate the probability of victory of team A according to the bookmaker and see what he actually thinks is going to happen in the end.
I also gave a formula to compute the margin that the bookie takes, to give you a better idea of how "greedy" he is.
The opinion (i.e. probabilities) and margin are simple metrics that can help you decide if the bet is worth something or not.

As per how to take advantage of that, you need to first "decide" what your own probabilities are and then compare them to the odds of the bookmaker (see OP).

An example of that:

A plays against B and you can bet on either A or B.
Assume that you compute the "opinion" of the bookmaker and find that he thinks that A has 60% chance to win and B has 40% chance to win.
You also compute the margin and find 5% (that makes an overround of 1.05).
(All of this combined means the odds for A and B are respectively 1.587 and 2.380)

Now you need to "decide" what is your opinion of the game A vs B, in terms of probabilities: is it 65% for A and 35% for B, or maybe 70% | 30% or even 60% | 30% like the bookmaker. These values are yours to decide, they are up to your knowledge and expertise of the game.

If you think A has 65% chance of winning, then you compare this value to the inverse of the odds for A i.e. 1/1.587 which is equal to 0.630 roughly: you can see that it is smaller than 65% (=0.65). In these conditions, betting on A is an opportunity from your point of view and you should bet on A.
On the contrary, if you think A has no more than 60% chance of winning, then you should not bet on A (at this bookie at least) given that 0.60 < 0.630.

Of course, there's a thin line between assessing the chances of winning at 60% or 65% but this is what can give you an edge. And more realistically, you should only bet when you notice a significant difference between your probability and the bookmaker's, just to give you room for estimation errors.




Ok but in that case couldn't you profit just from copying the bookies predictions? Always betting on the team he thinks has better odds, obviously the profit won't be much but as you said they are pretty accurate, not 100% so you might as well just copy them no? After all when you bet on a team you always bet on it because you think its gonna win no matter what the bookie says, have you tried your "strategy" long term?

If you share exactly the same opinion as the bookmaker, then making the bet with this bookmaker is always a bad idea.

Take my last example: if you think A has also 60% chance of winning, then you compare 60% (=0.6) to 1/1.587 (i.e one divided by the odds of A) which is equal to 0.630 roughly.
Given that 0.6 is smaller than 0.630, then betting on this game is a bad idea (at this bookie at least).

It is actually important to consider the differences between your opinion and the one of the bookmaker. Because then, you can apply this rule (if you choose to go for value betting) and in the long run (after a significant number of bets), that kind of betting discipline will be fruitful.

About your question regarding myself using those strategies, the answer is no and here's why.

Firstly, I wanted to make my own sportsbook (PrediMarket (http://predimarket.net)) because I have been developing a whole range of pricing techniques for bookmakers that I wanted to put into practice.

Then, sportsbetting being a very competitive field, I thought I could also turn myself as well into a gambler, to increase my revenue but I would only do that if I could automate a betting strategy because it is the accumulation of bets that can yield a relatively sure profit.

However, for the two basic strategies I described, there are significant obstacles that I cannot overcome for now:
  • sure betting strategy: you need at least 2 bitcoin bookies which provide an API but currently, there's only one that I know of (BETBTC)
  • value betting strategy: I would need to create an algorithm to produce probabilities for each game, based on historical data. While I have already done that for simple cases (like intra-league games), it gets more complicated when you are dealing with games involving from different leagues like UEFA Champion's League which might have never played against each other.

Although, it is difficult to automate such strategies, you can still apply them at a human level and they will prove useful.
If I tell you I hold a PhD in Applied Mathematics in Economy, would that convince you a bit more? :)


Title: Re: How to gamble the right way
Post by: PrediMarket on September 28, 2016, 05:38:16 PM
For those who only talk about luck, check this out:

https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler (https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler)

Unless it's a fake, there might be more than luck in gambling...

EDIT: quoted from the article:

I developed a programme myself that works completely off of mathematics. My bets have nothing to do with luck. I never leave anything up to a gut feeling, it's all about my calculations.


Title: Re: How to gamble the right way
Post by: raaajlucky on September 28, 2016, 05:46:55 PM
For those who only talk about luck, check this out:

https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler (https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler)

Unless it's a fake, there might be more than luck in gambling...

Nice article, But it is true? According to his way the gambling is not based on luck, It's fully based on mathematics calculations. I don't know how maths will work in gambling. I think he will play only skill base games. So he is saying that he develop a program for betting, and he will make every week 10k euros. Is this possible in gambling?


Title: Re: How to gamble the right way
Post by: PrediMarket on September 28, 2016, 05:59:47 PM
For those who only talk about luck, check this out:

https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler (https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler)

Unless it's a fake, there might be more than luck in gambling...

Nice article, But it is true? According to his way the gambling is not based on luck, It's fully based on mathematics calculations. I don't know how maths will work in gambling. I think he will play only skill base games. So he is saying that he develop a program for betting, and he will make every week 10k euros. Is this possible in gambling?

He's only talking about sports betting. For the rest of gambling, you can only resort to luck.


Title: Re: How to gamble the right way
Post by: rickadone on September 28, 2016, 06:13:32 PM
For those who only talk about luck, check this out:

https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler (https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler)

Unless it's a fake, there might be more than luck in gambling...

Nice article, But it is true? According to his way the gambling is not based on luck, It's fully based on mathematics calculations. I don't know how maths will work in gambling. I think he will play only skill base games. So he is saying that he develop a program for betting, and he will make every week 10k euros. Is this possible in gambling?
The possibility of using mathematics calculation for our gambling is only with sports betting. In some countries are horse riding is legalized with the reason of it is skill based similar to commodity trading where we could apply some mathematical calculations. Might be the right way of gambling would be sports betting, at least for myself.


Title: Re: How to gamble the right way
Post by: lorylore on September 28, 2016, 06:35:40 PM
For those who only talk about luck, check this out:

https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler (https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler)

Unless it's a fake, there might be more than luck in gambling...

Nice article, But it is true? According to his way the gambling is not based on luck, It's fully based on mathematics calculations. I don't know how maths will work in gambling. I think he will play only skill base games. So he is saying that he develop a program for betting, and he will make every week 10k euros. Is this possible in gambling?

He's only talking about sports betting. For the rest of gambling, you can only resort to luck.

Sport betting is a type of activities whereby you can increase your chance of winning by having a proper research. So if you have done sufficient research, you can have an advantage and this can help you to profit even in the long run. Another possible activity is poker.


Title: Re: How to gamble the right way
Post by: PrediMarket on September 28, 2016, 06:50:28 PM
For those who only talk about luck, check this out:

https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler (https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler)

Unless it's a fake, there might be more than luck in gambling...

Nice article, But it is true? According to his way the gambling is not based on luck, It's fully based on mathematics calculations. I don't know how maths will work in gambling. I think he will play only skill base games. So he is saying that he develop a program for betting, and he will make every week 10k euros. Is this possible in gambling?

He's only talking about sports betting. For the rest of gambling, you can only resort to luck.

Sport betting is a type of activities whereby you can increase your chance of winning by having a proper research. So if you have done sufficient research, you can have an advantage and this can help you to profit even in the long run. Another possible activity is poker.

Yes, you are right. When I said the rest of gambling, I had casino games in mind, not card games where you might indeed profit from your skill. But that's not an area that I know much of.


Title: Re: How to gamble the right way
Post by: fullypak on September 29, 2016, 01:55:13 AM
For those who only talk about luck, check this out:

https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler (https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler)

Unless it's a fake, there might be more than luck in gambling...

Nice article, But it is true? According to his way the gambling is not based on luck, It's fully based on mathematics calculations. I don't know how maths will work in gambling. I think he will play only skill base games. So he is saying that he develop a program for betting, and he will make every week 10k euros. Is this possible in gambling?

He's only talking about sports betting. For the rest of gambling, you can only resort to luck.

Sport betting is a type of activities whereby you can increase your chance of winning by having a proper research. So if you have done sufficient research, you can have an advantage and this can help you to profit even in the long run. Another possible activity is poker.

But you can't always win with only skills because sometimes other factors like nature and sometimes match fixes can make you fail to predict always accurate. So you can't always in the long run but surely winning chances are more compared to other casino games.


Title: Re: How to gamble the right way
Post by: Caladonian on September 29, 2016, 02:03:50 AM
For those who only talk about luck, check this out:

https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler (https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler)

Unless it's a fake, there might be more than luck in gambling...

Nice article, But it is true? According to his way the gambling is not based on luck, It's fully based on mathematics calculations. I don't know how maths will work in gambling. I think he will play only skill base games. So he is saying that he develop a program for betting, and he will make every week 10k euros. Is this possible in gambling?

He's only talking about sports betting. For the rest of gambling, you can only resort to luck.

Sport betting is a type of activities whereby you can increase your chance of winning by having a proper research. So if you have done sufficient research, you can have an advantage and this can help you to profit even in the long run. Another possible activity is poker.

But you can't always win with only skills because sometimes other factors like nature and sometimes match fixes can make you fail to predict always accurate. So you can't always in the long run but surely winning chances are more compared to other casino games.
matched fixing is all over the sports house now so it is really hard to predict which team will win or which team are inside tolerating match fixing thats the reason why more gamblers even those who have got skills predicting games has also losing their bets because of this problem.


Title: Re: How to gamble the right way
Post by: rio3233 on September 29, 2016, 02:15:11 AM
It's easy to gamble the right way. Don't go all in on your bets if you are not ready to lose it all, have a self control and don't easily get rage when you lose your bet, because i already experienced it and it make me busted.


Title: Re: How to gamble the right way
Post by: tabas on September 29, 2016, 03:51:37 AM
It's easy to gamble the right way. Don't go all in on your bets if you are not ready to lose it all, have a self control and don't easily get rage when you lose your bet, because i already experienced it and it make me busted.

Well that is really not going to be an effective way if you are going to do YOLOing because if you are going to do that. It is just like you are going to risk all of your money with one just bet. But if you are really a risk taker then you are going to do this but for me the right way to gamble is just you are going to gamble with low amount.


Title: Re: How to gamble the right way
Post by: RoommateAgreement on September 29, 2016, 04:00:13 AM
It's easy to gamble the right way. Don't go all in on your bets if you are not ready to lose it all, have a self control and don't easily get rage when you lose your bet, because i already experienced it and it make me busted.

Well that is really not going to be an effective way if you are going to do YOLOing because if you are going to do that. It is just like you are going to risk all of your money with one just bet. But if you are really a risk taker then you are going to do this but for me the right way to gamble is just you are going to gamble with low amount.

but YOLOing is a fun thing to do sometimes.

whether it is in a game or it is in a gambling with money when you YOLO you have a tremendeous amount of fun because of the big risk that you are taking and indeed you only live once, so you have to have as much fun you can have.


Title: Re: How to gamble the right way
Post by: TraderETH on September 29, 2016, 04:10:11 AM
I just manage money and risk, never play gambling with i can accept lost it, and i take control my mind for stay on the rules of gambling and always control feel greedy. It is just my way.


Title: Re: How to gamble the right way
Post by: roadbits on September 29, 2016, 04:15:05 AM
It's easy to gamble the right way. Don't go all in on your bets if you are not ready to lose it all, have a self control and don't easily get rage when you lose your bet, because i already experienced it and it make me busted.
All In is very bad in any format of gambling. This is a very risky method, Like head and tail game. If you win, it's a huge profit for you, if you lose your bet then in single bet empty pocket. So play with a small amount and only place your bet on low odds. This is the safe method in gambling. I am following this plan, and I am making money in sports betting.


Title: Re: How to gamble the right way
Post by: lienfaye on September 29, 2016, 05:06:27 AM
I just manage money and risk, never play gambling with i can accept lost it, and i take control my mind for stay on the rules of gambling and always control feel greedy. It is just my way.
thats right, the first thing is we should have the right attitude when playing and dont be greedy, i always use the free btc given by the site to start with so in that way i enjoy playing without using my own money. sometimes i only use my extra btc so it wont hurt much if i lose.


Title: Re: How to gamble the right way
Post by: Golftech on September 29, 2016, 05:54:00 AM
I just manage money and risk, never play gambling with i can accept lost it, and i take control my mind for stay on the rules of gambling and always control feel greedy. It is just my way.
thats right, the first thing is we should have the right attitude when playing and dont be greedy, i always use the free btc given by the site to start with so in that way i enjoy playing without using my own money. sometimes i only use my extra btc so it wont hurt much if i lose.
oh well its really easy to say that but i know if you are already in the situation feeling that you are so lucky or you are thinking to well that you are going to win big you will not able to practice this im just being honest i have this feeling before and i wasted a lot so i decided to stop and move away instead of wrecking myself keep losing my hard earn  money.


Title: Re: How to gamble the right way
Post by: bitcoinmasterlord on September 29, 2016, 07:14:29 AM
For those who only talk about luck, check this out:

https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler (https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler)

Unless it's a fake, there might be more than luck in gambling...

Nice article, But it is true? According to his way the gambling is not based on luck, It's fully based on mathematics calculations. I don't know how maths will work in gambling. I think he will play only skill base games. So he is saying that he develop a program for betting, and he will make every week 10k euros. Is this possible in gambling?

He's only talking about sports betting. For the rest of gambling, you can only resort to luck.

Sport betting is a type of activities whereby you can increase your chance of winning by having a proper research. So if you have done sufficient research, you can have an advantage and this can help you to profit even in the long run. Another possible activity is poker.

But you can't always win with only skills because sometimes other factors like nature and sometimes match fixes can make you fail to predict always accurate. So you can't always in the long run but surely winning chances are more compared to other casino games.
matched fixing is all over the sports house now so it is really hard to predict which team will win or which team are inside tolerating match fixing thats the reason why more gamblers even those who have got skills predicting games has also losing their bets because of this problem.

Yes, these match fixing is spreading to each and every game so nowadays it is very hard to predict the sports results. Even very strong teams are losing against weak teams, and it can't be believed, and the only reason may be match fixed. So it is always good to bet only small amounts to reduce our losses.


Title: Re: How to gamble the right way
Post by: ethereumhunter on September 29, 2016, 07:23:42 AM
For those who only talk about luck, check this out:

https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler (https://sports.vice.com/en_uk/article/the-life-of-a-professional-gambler)

Unless it's a fake, there might be more than luck in gambling...

Nice article, But it is true? According to his way the gambling is not based on luck, It's fully based on mathematics calculations. I don't know how maths will work in gambling. I think he will play only skill base games. So he is saying that he develop a program for betting, and he will make every week 10k euros. Is this possible in gambling?

He's only talking about sports betting. For the rest of gambling, you can only resort to luck.

Sport betting is a type of activities whereby you can increase your chance of winning by having a proper research. So if you have done sufficient research, you can have an advantage and this can help you to profit even in the long run. Another possible activity is poker.

without any research, we don't have a chance to win sportsbetting because in sportsbetting, its all about the update of the each of team and if we can find the info then we only have small chance to win. and before we play gambling, decide how much money we want to spend in gambling and don't ever try to put another money in our pocket when we are loss all of our money, because it will make get quickly empty money.


Title: Re: How to gamble the right way
Post by: sana54210 on September 29, 2016, 08:32:59 AM
without any research, we don't have a chance to win sportsbetting because in sportsbetting, its all about the update of the each of team and if we can find the info then we only have small chance to win. and before we play gambling, decide how much money we want to spend in gambling and don't ever try to put another money in our pocket when we are loss all of our money, because it will make get quickly empty money.
But we cannot consider sports betting is always the right way of gambling. Because sports betting is also has its own risk levels like match fixing and different playing conditions.

A well performing team/person may not play up to their/his perfection on a particular day due to different conditions. So, the right way of gambling is always doubtful, it may work one day and may not in some of the days.


Title: Re: How to gamble the right way
Post by: RealPhotoshoper on September 29, 2016, 08:42:04 AM
It's easy to gamble the right way. Don't go all in on your bets if you are not ready to lose it all, have a self control and don't easily get rage when you lose your bet, because i already experienced it and it make me busted.
never easy to control your emotion in gambling .
you need more than to be patient to hold your winning in gambling , you always want to double it more.
the only right thing to do is stick to the goal you want in the first time you decide to gamble means you need to have a limit.


Title: Re: How to gamble the right way
Post by: Catmony on September 29, 2016, 10:59:37 AM
Leaving after you loss what you can afford to loss and will not effect your life or savings is best way to not get addicted towards gambling and also after you win some significant amout like a big win, than better to immediately stop playing and cashed out those winnings.


Title: Re: How to gamble the right way
Post by: BitsandBites on September 29, 2016, 12:42:59 PM
There is no real way to gamble and I also think there is no right way because gambling stays risky, you need luck to win some gambling games, its not for a reason called gambling right.


Title: Re: How to gamble the right way
Post by: Capradina on September 29, 2016, 12:46:20 PM
There is no real way to gamble and I also think there is no right way because gambling stays risky, you need luck to win some gambling games, its not for a reason called gambling right.

Very true, it does not have a gambling strategy. And also nothing can beat the game systems provided by the site owners, we can only positive minded and can't beat the system. all those who are too greedy will certainly end in failure (except other than gambling)


Title: Re: How to gamble the right way
Post by: Docnaster on September 29, 2016, 03:18:39 PM
Is this strategy really profitable ? People are always inventing strategy, and they can't continously win the game even you say that you are in balance odds, If you really can control your bankroll and you can manage all the way then you can make profit i guess so. But imo strategy sometimes are not good.


Title: Re: How to gamble the right way
Post by: chixka000 on September 29, 2016, 03:39:22 PM
You were talking in a very technical way. Lets get things in a much easier ways for me it is all about moderation if you play moderately then you are doing it the right way


Title: Re: How to gamble the right way
Post by: buxlover on September 29, 2016, 04:01:54 PM
Is this strategy really profitable ? People are always inventing strategy, and they can't continously win the game even you say that you are in balance odds, If you really can control your bankroll and you can manage all the way then you can make profit i guess so. But imo strategy sometimes are not good.

May be some brilliant strategy would be profitable initially, but in the long run not a single strategy would be profitable in gambling. gambling website invest and earn lot of money so they will find a counter measure even if there is a possible leak in their system

Best strategy always would gamble with money which you can afford to loose. who knows on a lucky day you might get all the lost money in return, see that's what i call greedy and no one (including me) able to control that efficiently, which leads to believing in new strategy to win through gambling.


Title: Re: How to gamble the right way
Post by: gilangIDR on September 29, 2016, 04:04:53 PM
there is no special way of playing gambling. we just follow the flow and try to hope that we succeed. playing gambling is risking life and most of our money.


Title: Re: How to gamble the right way
Post by: Pamadar on September 29, 2016, 04:19:38 PM
You were talking in a very technical way. Lets get things in a much easier ways for me it is all about moderation if you play moderately then you are doing it the right way
yes thats right if you can say stop in time that you needed to stop and just doing it in a enjoyable ways i guess thats the right way indeed
but if you cant do that and you always wanted to keep it coming i guess you are not doing it right it can turned into addiction.


Title: Re: How to gamble the right way
Post by: dantanas on September 29, 2016, 04:35:37 PM
Just dont bet what you cannot afford to lose. Simplest tip.


Title: Re: How to gamble the right way
Post by: Stedsm on September 29, 2016, 04:54:42 PM
There's no right way actually, but smart way. You can definitely win/lose at times constantly, but will never stop. This is where you need self-control, and if you are able to get a control over yourself, then you will gamble smart.


Title: Re: How to gamble the right way
Post by: harizen on September 29, 2016, 05:06:08 PM
There's no right way actually, but smart way. You can definitely win/lose at times constantly, but will never stop. This is where you need self-control, and if you are able to get a control over yourself, then you will gamble smart.

This can be ruined up if people already experienced to win a decent amount. They can keep on coming back even they already established a horrible win/loss record.

If people are having a hard time to stop gambling, then take their gambling into the next level rather than playing on an instant result gambling game. They can consider Sports betting and other strategy based games.

And if they really want to put their gambling experience into an extreme one, learn to try trading method. It's worth to try even with risk involved. Just build trading experience and it will take people in the process of earnings in the long run.


Title: Re: How to gamble the right way
Post by: wxa7115 on September 29, 2016, 05:19:25 PM
There's no right way actually, but smart way. You can definitely win/lose at times constantly, but will never stop. This is where you need self-control, and if you are able to get a control over yourself, then you will gamble smart.

This can be ruined up if people already experienced to win a decent amount. They can keep on coming back even they already established a horrible win/loss record.

If people are having a hard time to stop gambling, then take their gambling into the next level rather than playing on an instant result gambling game. They can consider Sports betting and other strategy based games.

And if they really want to put their gambling experience into an extreme one, learn to try trading method. It's worth to try even with risk involved. Just build trading experience and it will take people in the process of earnings in the long run.
To invest and to trade are good advices but if you invest or trade with the mentality of a gambler you will obtain the very same results that you do when you gamble, which is not good.


Title: Re: How to gamble the right way
Post by: Patatas on September 29, 2016, 05:21:23 PM
This can be ruined up if people already experienced to win a decent amount. They can keep on coming back even they already established a horrible win/loss record.
That is but should be left to the players personality traits?

If people are having a hard time to stop gambling, then take their gambling into the next level rather than playing on an instant result gambling game. They can consider Sports betting and other strategy based games.
There is no such thing as "strategy based games" while "gambling".Dissolves the entire point of gambling.

And if they really want to put their gambling experience into an extreme one, learn to try trading method. It's worth to try even with risk involved. Just build trading experience and it will take people in the process of earnings in the long run.
Worst advice ever.Just because you couldn't swim in a 6 ft pool you're trying again in 5.8 ?Experience doesn't come in a week,jackpot might just. ::)


Title: Re: How to gamble the right way
Post by: electronicfactura on September 29, 2016, 07:21:47 PM
In gambling right way is just keep control your emotions and be sure world isn't going to end in same day. Always think at second chance and play in small sessions and often make short breaks from gambling. If you keep winning or loosing don't change the routine of taking breaks to take fresh breath. Never attempt to win all the money in one day this will bust your all balance.


Title: Re: How to gamble the right way
Post by: bithasher on September 29, 2016, 08:24:00 PM
When you think too much you actually go off the track and mess yourself up with logic and possibilities. There is no universal and authentic way to gamble as right way just play naturally by realizing that loosing is first result. Don't go with mind of winning your feet will be on ground.


Title: Re: How to gamble the right way
Post by: rickadone on September 29, 2016, 08:48:14 PM
In gambling right way is just keep control your emotions and be sure world isn't going to end in same day. Always think at second chance and play in small sessions and often make short breaks from gambling. If you keep winning or loosing don't change the routine of taking breaks to take fresh breath. Never attempt to win all the money in one day this will bust your all balance.
Emotion control is really harder than usually we are imagining. But the right way of gambling definitely dependent on how much we are successful with our emotion control. Once we are losing our control over emotions while gambling, we go aggressive with our bets and losing very quickly. Losing emotion control must be the root cause problem for not doing gambling in right way.


Title: Re: How to gamble the right way
Post by: potatopower on September 29, 2016, 11:31:35 PM
Is this strategy really profitable ? People are always inventing strategy, and they can't continously win the game even you say that you are in balance odds, If you really can control your bankroll and you can manage all the way then you can make profit i guess so. But imo strategy sometimes are not good.
gambling and investing is definitely not profitable, with those things you would lose all the time


Title: Re: How to gamble the right way
Post by: titibach on September 29, 2016, 11:38:08 PM
Basically, there are two key aspects to take into account:
Information (e.g. teams' relative strengths)
Bankroll management (i.e. What percentage of your betting budget is it reasonable to bet)

I believe in bankroll management because no matter what your knowledge is and what you know about a team or player but you will always loose in the end, more with sports betting since has higher edge.
But with BM you can survive longer.


Title: Re: How to gamble the right way
Post by: Caladonian on September 30, 2016, 01:12:38 AM
Basically, there are two key aspects to take into account:
Information (e.g. teams' relative strengths)
Bankroll management (i.e. What percentage of your betting budget is it reasonable to bet)

I believe in bankroll management because no matter what your knowledge is and what you know about a team or player but you will always loose in the end, more with sports betting since has higher edge.
But with BM you can survive longer.
thats right because money management is needed when you are in this business you needed to control yourself as always just like most pro's they now when to stop when things really not going good to their game or vice versa.


Title: Re: How to gamble the right way
Post by: maku on September 30, 2016, 02:51:45 AM
You were talking in a very technical way. Lets get things in a much easier ways for me it is all about moderation if you play moderately then you are doing it the right way
Then you will moderately gonna lose your bankroll bit by bit.

Face it guys. Gambling and games like Roulette, Dice, Slots, Baccarat, Craps, Keno and more are unbeatable by any mathematical system.
It is no use to talk about martingale, mixing strategies, programming bots or scripts. In the end, you need to understand - play if for fun and be ready to accept your loss.


Title: Re: How to gamble the right way
Post by: TraderETH on September 30, 2016, 03:09:14 AM
I just manage money and risk, never play gambling with i can accept lost it, and i take control my mind for stay on the rules of gambling and always control feel greedy. It is just my way.
thats right, the first thing is we should have the right attitude when playing and dont be greedy, i always use the free btc given by the site to start with so in that way i enjoy playing without using my own money. sometimes i only use my extra btc so it wont hurt much if i lose.
It is good way too using free bitcoins for betting, it will not become problem if we are lost in gambling game, although need much time for collection bitcoin from giveaway or faucets.


Title: Re: How to gamble the right way
Post by: wxa7115 on October 01, 2016, 10:19:27 PM
I just manage money and risk, never play gambling with i can accept lost it, and i take control my mind for stay on the rules of gambling and always control feel greedy. It is just my way.
thats right, the first thing is we should have the right attitude when playing and dont be greedy, i always use the free btc given by the site to start with so in that way i enjoy playing without using my own money. sometimes i only use my extra btc so it wont hurt much if i lose.
It is good way too using free bitcoins for betting, it will not become problem if we are lost in gambling game, although need much time for collection bitcoin from giveaway or faucets.
But the amount of time used to get these “free bitcoins” is too much wouldn’t be better to just get a job and if you already do then maybe do some overtime.


Title: Re: How to gamble the right way
Post by: Galer on October 02, 2016, 02:07:38 AM
you are making things too complicated in my opinion.
the only important things to accept and always remember in gambling is
- managing your money: know how much you are willing to invest and how much of it you are willing to lose.
- try to use a good strategy and know the pros and cons of the strategy that you are using. so even using martingale method can be good if you use it right.
- and in the end you should always remember this is gambling and there is no right or wrong and there is certainly no guarantee to always win.
Im see this comment and I agree the first strategy that can you do is managing your money  and control yourself to dont make more loses.


Title: Re: How to gamble the right way
Post by: raaajlucky on October 02, 2016, 06:36:49 AM
you are making things too complicated in my opinion.
the only important things to accept and always remember in gambling is
- managing your money: know how much you are willing to invest and how much of it you are willing to lose.
- try to use a good strategy and know the pros and cons of the strategy that you are using. so even using martingale method can be good if you use it right.
- and in the end you should always remember this is gambling and there is no right or wrong and there is certainly no guarantee to always win.
Im see this comment and I agree the first strategy that can you do is managing your money  and control yourself to dont make more loses.
The points are acceptable. It's correct. We have to handle our money management in gambling. Otherwise, we will lose all money at the end of the day. And we have to control our emotions, and only we will control our greedy in gambling. If you play with without greediness, this is the right way to gamble.


Title: Re: How to gamble the right way
Post by: BitMaxz on October 02, 2016, 06:45:53 AM
you are making things too complicated in my opinion.
the only important things to accept and always remember in gambling is
- managing your money: know how much you are willing to invest and how much of it you are willing to lose.
- try to use a good strategy and know the pros and cons of the strategy that you are using. so even using martingale method can be good if you use it right.
- and in the end you should always remember this is gambling and there is no right or wrong and there is certainly no guarantee to always win.
Im see this comment and I agree the first strategy that can you do is managing your money  and control yourself to dont make more loses.
The points are acceptable. It's correct. We have to handle our money management in gambling. Otherwise, we will lose all money at the end of the day. And we have to control our emotions, and only we will control our greedy in gambling. If you play with without greediness, this is the right way to gamble.
Only greediness can bring to us to lose more if we can control it we can not lose more we know gambling is just made to give entertainment for people not for giving profits.. make sure control your self and think that you are just halving fun..


Title: Re: How to gamble the right way
Post by: ardentvolcanoes on October 03, 2016, 02:28:11 PM
there is no right way to play gambling. gambling is staked money that you have. so the luck factor that was the deciding factor.
I have so much to play gambling, but it is very difficult to win the game if it's without luck.

But there is a right way to play because as you already understood that you could win money from the gambling, then you should gambling only sometimes when you think the need for some fun or entertainment with the fixed little amount to avoid significant losses. In this way, you save a lot of money over the time, and this can be called one right to reduce your loses.

there is no right way to play but you can play gambling wisely , putting a lower bets , avoid greediness and do not expect too much from gambling and that's it . you could earn money from gambling but how sure are you that you can make it daily . as far as i know gambling isn't a right place to make a profit .

without that suggestion, we only have to get loss our money very quickly and we will regret it. so i hope we can make a bet that we are ready to get loss so when we really loss, its not make us to sad.

We will always getting that way if we are always expecting for something in return if we make a bet . There will be always a loss involved in gambling and that's the only thing we should expect to lessen the disappointment or frustration .


Title: Re: How to gamble the right way
Post by: sempak on October 03, 2016, 02:32:26 PM
there is no way that very precise in playing gambling. we are just trying to find a place to play safe and comfortable.
because finding gambling websites are quite difficult. so much had already not reliable.


Title: Re: How to gamble the right way
Post by: sana54210 on October 03, 2016, 07:46:52 PM
there is no way that very precise in playing gambling. we are just trying to find a place to play safe and comfortable.
because finding gambling websites are quite difficult. so much had already not reliable.
Even there are a lot of very trusted gambling sites, finding a safer way of gambling is highly impossible as gambling does not have such a characteristics within it. The right way of gambling may give you safety, comfortble and also multiplying your bankroll, but in reality these are all not possible so gambling in a right way is not realistic.


Title: Re: How to gamble the right way
Post by: wxa7115 on October 03, 2016, 09:25:27 PM
there is no way that very precise in playing gambling. we are just trying to find a place to play safe and comfortable.
because finding gambling websites are quite difficult. so much had already not reliable.
Even there are a lot of very trusted gambling sites, finding a safer way of gambling is highly impossible as gambling does not have such a characteristics within it. The right way of gambling may give you safety, comfortble and also multiplying your bankroll, but in reality these are all not possible so gambling in a right way is not realistic.
By definition to gamble is to being able to take risks, you don’t have to take wild risk but at least you must be comfortable with a certain level of risk, if you are not, then stop gambling is that simple.


Title: Re: How to gamble the right way
Post by: satdas on October 03, 2016, 09:34:43 PM
i think it is not such a difficult job, to me if you play gambling in a limit then surely you are playing gambling in a right way and through this way you will never lose your all investment in a single day and will get even more chances to recover your lost any time.


Title: Re: How to gamble the right way
Post by: fullypak on October 04, 2016, 01:35:48 AM
i think it is not such a difficult job, to me if you play gambling in a limit then surely you are playing gambling in a right way and through this way you will never lose your all investment in a single day and will get even more chances to recover your lost any time.

But when you have an intention of recovering your losses or making a profit from gambling then I don't think you can always follow your set of rules because some time you may be tempted to play more to recover your losses and end up losing more money. So don't gamble with the intention of making money from gambling.


Title: Re: How to gamble the right way
Post by: Golftech on October 04, 2016, 02:04:44 AM
i think it is not such a difficult job, to me if you play gambling in a limit then surely you are playing gambling in a right way and through this way you will never lose your all investment in a single day and will get even more chances to recover your lost any time.

But when you have an intention of recovering your losses or making a profit from gambling then I don't think you can always follow your set of rules because some time you may be tempted to play more to recover your losses and end up losing more money. So don't gamble with the intention of making money from gambling.
winning is just an extra joy if we will treat gambling just for fun, having an intention to profits from gambling will change the way you play because of fear of losing so the way we place our bet are different if we play for fun and if we play to profits.


Title: Re: How to gamble the right way
Post by: stadus on October 04, 2016, 03:02:48 AM
i think it is not such a difficult job, to me if you play gambling in a limit then surely you are playing gambling in a right way and through this way you will never lose your all investment in a single day and will get even more chances to recover your lost any time.

But when you have an intention of recovering your losses or making a profit from gambling then I don't think you can always follow your set of rules because some time you may be tempted to play more to recover your losses and end up losing more money. So don't gamble with the intention of making money from gambling.
winning is just an extra joy if we will treat gambling just for fun, having an intention to profits from gambling will change the way you play because of fear of losing so the way we place our bet are different if we play for fun and if we play to profits.
Definitely that's should be in the mind of every gambler, money should not be the aim to gamble in order to enjoy it in the long run, there are other ways to earn money but please do not do it in gambling as you will surely lose.

If you will treat gambling for fun only, you will surely last in the game and you will enjoy it despite of your minimal loses.


Title: Re: How to gamble the right way
Post by: Caladonian on October 04, 2016, 05:29:43 AM
i think it is not such a difficult job, to me if you play gambling in a limit then surely you are playing gambling in a right way and through this way you will never lose your all investment in a single day and will get even more chances to recover your lost any time.
[/quote
if you are playing like a pro you know when to stop and play again especially if you are betting in sports game you will able to research more and try to make some rebound on your loses.


Title: Re: How to gamble the right way
Post by: crytoboost on October 04, 2016, 07:10:51 AM
i think it is not such a difficult job, to me if you play gambling in a limit then surely you are playing gambling in a right way and through this way you will never lose your all investment in a single day and will get even more chances to recover your lost any time.

Gambling in every way can ruin our life even if we are playing with a limit, but when we go to chase our loses than it turn into worse and let us on losing again and again, because there is no chance to get survive against any losing streak.


Title: Re: How to gamble the right way
Post by: jhenfelipe on October 04, 2016, 08:36:09 AM
But when you have an intention of recovering your losses or making a profit from gambling then I don't think you can always follow your set of rules because some time you may be tempted to play more to recover your losses and end up losing more money. So don't gamble with the intention of making money from gambling.
I agree with the bold statement. I think greediness starts with that mindset. If you play just for profit, you will be eager to win and play repeatedly. The worst scenario is a person being addicted because of that. On win, play more and hope for more winnings. On lose, play more to get back the losses. It becomes a routine. But still, we do have a different perspective of what is the right thing to do. So I think, the person who is playing is the only one who is responsible for his actions, no one can limit him but himself.


Title: Re: How to gamble the right way
Post by: cluit on October 04, 2016, 10:04:36 AM
i think it is not such a difficult job, to me if you play gambling in a limit then surely you are playing gambling in a right way and through this way you will never lose your all investment in a single day and will get even more chances to recover your lost any time.

Gambling in every way can ruin our life even if we are playing with a limit, but when we go to chase our loses than it turn into worse and let us on losing again and again, because there is no chance to get survive against any losing streak.
Yes, if you pre-set the number of attempts you are going to do for the day, gambling will play smart to get your bankroll to go zero within your number of attempts. May be the right way of gambling must be staying away from gambling. Within gambling there is no right way.


Title: Re: How to gamble the right way
Post by: wxa7115 on October 04, 2016, 03:22:49 PM
i think it is not such a difficult job, to me if you play gambling in a limit then surely you are playing gambling in a right way and through this way you will never lose your all investment in a single day and will get even more chances to recover your lost any time.
The problem is that for a significant amount of people the only limit they know is the table limit, unless you are referring to a limit specified in a game like Limit Texas Holdem.


Title: Re: How to gamble the right way
Post by: hua_hui on October 04, 2016, 10:06:00 PM
i think it is not such a difficult job, to me if you play gambling in a limit then surely you are playing gambling in a right way and through this way you will never lose your all investment in a single day and will get even more chances to recover your lost any time.
The problem is that for a significant amount of people the only limit they know is the table limit, unless you are referring to a limit specified in a game like Limit Texas Holdem.

Well, they dont even have limit in their gambling. They may hit the limit but they will carry on gambling for more hands and even if they run out of money, they will find ways to borrow and gamble for debt.


Title: Re: How to gamble the right way
Post by: trickshot22 on October 04, 2016, 11:08:13 PM
there is no right way to play gambling. gambling is staked money that you have. so the luck factor that was the deciding factor.
I have so much to play gambling, but it is very difficult to win the game if it's without luck.

But there is a right way to play because as you already understood that you could win money from the gambling, then you should gambling only sometimes when you think the need for some fun or entertainment with the fixed little amount to avoid significant losses. In this way, you save a lot of money over the time, and this can be called one right to reduce your loses.

there is no right way to play but you can play gambling wisely , putting a lower bets , avoid greediness and do not expect too much from gambling and that's it . you could earn money from gambling but how sure are you that you can make it daily . as far as i know gambling isn't a right place to make a profit .

without that suggestion, we only have to get loss our money very quickly and we will regret it. so i hope we can make a bet that we are ready to get loss so when we really loss, its not make us to sad.

We will always getting that way if we are always expecting for something in return if we make a bet . There will be always a loss involved in gambling and that's the only thing we should expect to lessen the disappointment or frustration .
you are right, to be honest in my opinion people always expect to win something but they nearly always lose


Title: Re: How to gamble the right way
Post by: ethereumhunter on October 04, 2016, 11:29:13 PM
there is no right way to play gambling. gambling is staked money that you have. so the luck factor that was the deciding factor.
I have so much to play gambling, but it is very difficult to win the game if it's without luck.

But there is a right way to play because as you already understood that you could win money from the gambling, then you should gambling only sometimes when you think the need for some fun or entertainment with the fixed little amount to avoid significant losses. In this way, you save a lot of money over the time, and this can be called one right to reduce your loses.

there is no right way to play but you can play gambling wisely , putting a lower bets , avoid greediness and do not expect too much from gambling and that's it . you could earn money from gambling but how sure are you that you can make it daily . as far as i know gambling isn't a right place to make a profit .

without that suggestion, we only have to get loss our money very quickly and we will regret it. so i hope we can make a bet that we are ready to get loss so when we really loss, its not make us to sad.

We will always getting that way if we are always expecting for something in return if we make a bet . There will be always a loss involved in gambling and that's the only thing we should expect to lessen the disappointment or frustration .
you are right, to be honest in my opinion people always expect to win something but they nearly always lose

and after win in more than 2 times, people become too greedy and this can make them to get loss all of their money. but for people which not too greedy, they will be quit as soon as they can and don't want to get loss for quickly.


Title: Re: How to gamble the right way
Post by: raaajlucky on October 06, 2016, 04:02:03 AM
I think there is no 100% right method in Gambling. But while playing you have to control your feelings is the first safe procedure in gambling. If you control your emotions, then you will get to know how to play and where to stop. If you know this then you can easily do betting. I am following this method, so I am not greedy, and I am not addicted and also I am not losing too much money in gambling.


Title: Re: How to gamble the right way
Post by: aranachristianjay on October 29, 2016, 12:32:43 PM
It's easy to gamble the right way. Don't go all in on your bets if you are not ready to lose it all, have a self control and don't easily get rage when you lose your bet, because i already experienced it and it make me busted.
Well that is really not going to be an effective way if you are going to do YOLOing because if you are going to do that. It is just like you are going to risk all of your money with one just bet. But if you are really a risk taker then you are going to do this but for me the right way to gamble is just you are going to gamble with low amount.


Title: Re: How to gamble the right way
Post by: roadbits on October 29, 2016, 02:30:51 PM
It's easy to gamble the right way. Don't go all in on your bets if you are not ready to lose it all, have a self control and don't easily get rage when you lose your bet, because i already experienced it and it make me busted.
Well that is really not going to be an effective way if you are going to do YOLOing because if you are going to do that. It is just like you are going to risk all of your money with one just bet. But if you are really a risk taker then you are going to do this but for me the right way to gamble is just you are going to gamble with low amount.
All in is always dangerous thing don't do this. You will lose your all money in a single bet. But according to me the right way to gamble means playing with little amount is not a safe method. You should choose the right odds, yes if your odds is low then your winning chance is high. If your odds is high, your winning chance is low. So choose low odds and place high amount, try this you may make some profit in this method.


Title: Re: How to gamble the right way
Post by: rik3 on October 29, 2016, 02:48:24 PM
Hi guys,

After seeing a lots of threads where people asked about the best gambling strategy, I thought I could share a bit of my knowledge on these questions in order to hopefully bring some insights to those who are not aware of it yet.

Please bear in my mind that the comments I will make are not my personal point of view on the topic of gambling, which is simply a form of financial investment, but only a recap of what is generally admitted among researchers in economics and by extension in the financial industry.

Also note that I will only talk about betting on real events like sport games (typically sports betting or trading on prediction markets).

Are there some martingale techniques that allow a gambler or an investor to make money at a single bookie?

As you probably know, there is none, simply because the bookmaker sets the rules for its bets in order to favor its own profit over its players' profit. This is generally achieved by setting a margin (overround).

All right, so that means there's no way I can make a profit in gambling?

Well, not really. You can actually make a profit out of gambling but you have to rely on other things than a simple technical procedure like a martingale.

Basically, there are two key aspects to take into account:
  • Information (e.g. teams' relative strengths)
  • Bankroll management (i.e. What percentage of your betting budget is it reasonable to bet)

I'll come back with details on these two aspects later on.

I said there is no martingale that guarantees you a profit at a single bookie but there is actually one that can do it if you bet at several bookies.
Most of you probably know it: it's called sure betting or simply arbitrage in financial terms.

The idea behind sure betting is the same as the one behind arbitrage. When you want to make an arbitrage on a financial market, you need to find two markets where the price of the same stock or whatever financial product is different. In such a case, you buy the stock on the cheaper market and you sell it on the more expensive one, thus ensuring a sure profit (the price difference).

Sure betting works similarly: you need to find at least two different bookies that will give odds high enough to ensure a sure profit. To be more specific, suppose you want to bet on a two-way game opposing A vs B. If odds_A denotes the (decimal) odds in favor of A and odds_B denotes the (decimal) odds in favor of B, then you need to find those odds such that: 1/odds_A + 1/odds_B < 1.

For example, if odds_A = 2 and odds_B = 2.1 then 1/2 + 1/2.1 = 0.976... < 1. Then, to make a sure bet, you just wage w*1/odds_A on A and w*1/odds_B on B where w is any number you want (the higher w, the higher your sure profit). When the game is decided:
  • if A wins: you get odds_A*(w*1/odds_A) - w*1/odds_A - w*1/odds_B = w*(1 - 1/odds_A - 1/odds_B) > 0
  • if B wins: you get odds_B*(w*1/odds_B) - w*1/odds_A - w*1/odds_B = w*(1 - 1/odds_A - 1/odds_B) > 0

In fact, when you bet money on the victory of A, it's like you "buy A" and when you bet money on the victory of B, it's like you "sell A" since it is the opposite of supporting the victory of A. Thus, you buy and sell the same product on two different bookies but at a different price, hence the profit.

Information

Information is just a general way of saying that you need to know the teams, players and games you are betting on.
While everybody knows that, it is often a good idea to push the concept a bit further and analyze the odds to see whether there is a betting opportunity (also referred to as value betting by gamblers).
When you see the set of odds offered by a bookie on a market (assuming that it did not receive any bets yet), it actually tells you what the bookie thinks about what is likely to happen in the game. Taking the same example as before with A and B, odds_A and odds_B can be break down into this:
  • odds_A = 1/(overround * p_A)
  • odds_B = 1/(overround * p_B)

where p_A and p_B are the respective implicit probabilities of A winning and B winning and overround is the margin of the bookie (>1) and can be calculated by:
overround = 1/odds_A + 1/odds_B. Putting, those formulas together, you have an easy way of calculating the implicit probabilities of the game, according to the bookmaker:
  • p_A = (1/odds_A) / (1/odds_A + 1/odds_B)
  • p_B = (1/odds_B) / (1/odds_A + 1/odds_B)

For example, if odds_A = 1.35 and odds_B = 3.05, then p_A = (1/1.35)/(1/1.35 + 1/3.05) = 69.3% and p_B = (1/3.05)/(1/1.35 + 1/3.05) = 30.7%.

Hence, if you have the same opinion, in other words the same probabilities, as the bookie for this game, the average net profit you would get out of this game by betting on A would be:
p_A * odds_A*w + p_B * 0 - w = w*(1/overround - 1) < 0 (and similarly for a bet on B)

which shows that in these conditions, it's not rationally a good idea to bet. Of course, you could still bet if you are "sure" that A or B is going to win but that's not a rational argument but I am leaving it aside for the sake of the discussion.

However, you can hold a different view on what's going to happen in the game, i.e. have a different opinion. Bookies are not error-proof as several university studies showed it over the years. Thus, if you think A has a chance of winning of q_A and B has a chance of winning of q_B, then your average net profit betting on A would be:
q_A * odds_A*w + q_B * 0 - w = w*(q_A/(p_A*overround) - 1) (and similarly for a bet on B)

In such a case, if q_A is high enough, i.e. you think A has much more chance of winning than what the bookie actually suggests, then you could achieve a profit (in average).
To be more specific, this will be the case if q_A/(p_A*overround) - 1 > 0 i.e q_A > p_A*overround = 1/odds_A. Of course, the more the overround is low (low margin), the more likely you are to find such opportunities at a bookie.

Bankroll management

Bankroll management is a much more complicated topic. The most well-known method of managing your betting amounts is the Kelly criterion.
It basically tells you how much you should bet on a particular outcome given the probabilities of the game and your betting budget as well. It aims at getting you the maximal possible increase of your bankroll over the time.
Another pro for using a bankroll management technique is that it forces you to avoid betting unreasonable amounts that could bankrupt you. Because if you are in that case, it is much more difficult to recover from your losses as you are dead broke and you do need money to bet.

I could elaborate more on the technical aspects of the Kelly criterion but I don't know if you guys are interested or not.

So, on top of my head, these are the most important facts to know when betting in order to avoid major fails.
If you have any questions or possibly don't agree (:)), let me know!

According to me There is no Right Way to Gamble Because Gambling is Just a Game Of Losing Money and Here If you are Lucky then You can Win Otherwise You Always Lose Your Money....
So My Suggestion Is that Stay Away From Gambling and I Don't Think that There is Any Way Of Doing Gambling the Right Way............


Title: Re: How to gamble the right way
Post by: goldcoinminer on October 29, 2016, 02:51:02 PM
It's easy to gamble the right way. Don't go all in on your bets if you are not ready to lose it all, have a self control and don't easily get rage when you lose your bet, because i already experienced it and it make me busted.
Well that is really not going to be an effective way if you are going to do YOLOing because if you are going to do that. It is just like you are going to risk all of your money with one just bet. But if you are really a risk taker then you are going to do this but for me the right way to gamble is just you are going to gamble with low amount.
All in is always dangerous thing don't do this. You will lose your all money in a single bet. But according to me the right way to gamble means playing with little amount is not a safe method. You should choose the right odds, yes if your odds is low then your winning chance is high. If your odds is high, your winning chance is low. So choose low odds and place high amount, try this you may make some profit in this method.

YOLO or all in is something we can do if we are a lazy gambler and actually if you are playing in a game that has a house  edge it will give you a good chance to win as when you are playing longer your chances to win slowly diminish but doing all in will give you win if you have a lucky roll.


Title: Re: How to gamble the right way
Post by: arseaboy on October 29, 2016, 03:14:25 PM
It's easy to gamble the right way. Don't go all in on your bets if you are not ready to lose it all, have a self control and don't easily get rage when you lose your bet, because i already experienced it and it make me busted.
Well that is really not going to be an effective way if you are going to do YOLOing because if you are going to do that. It is just like you are going to risk all of your money with one just bet. But if you are really a risk taker then you are going to do this but for me the right way to gamble is just you are going to gamble with low amount.
All in is always dangerous thing don't do this. You will lose your all money in a single bet. But according to me the right way to gamble means playing with little amount is not a safe method. You should choose the right odds, yes if your odds is low then your winning chance is high. If your odds is high, your winning chance is low. So choose low odds and place high amount, try this you may make some profit in this method.

YOLO or all in is something we can do if we are a lazy gambler and actually if you are playing in a game that has a house  edge it will give you a good chance to win as when you are playing longer your chances to win slowly diminish but doing all in will give you win if you have a lucky roll.

Yeah this is not a right way to gamble unless you are lucky. Start on making some low bets would atleast be necessary to gamble so that you can control your money and not to lose it all in just one roll. Try to play in sports betting which can give you a higher chance of winning rather than playing in dice games and slot machines.


Title: Re: How to gamble the right way
Post by: carlerha on October 29, 2016, 03:57:25 PM
i think it is not such a difficult job, to me if you play gambling in a limit then surely you are playing gambling in a right way and through this way you will never lose your all investment in a single day and will get even more chances to recover your lost any time.
The problem is that for a significant amount of people the only limit they know is the table limit, unless you are referring to a limit specified in a game like Limit Texas Holdem.

Well, they dont even have limit in their gambling. They may hit the limit but they will carry on gambling for more hands and even if they run out of money, they will find ways to borrow and gamble for debt.
yes and that is the reason that every says that gambling is not profitable. i think if a person play gambling in a strategy and having a limit for gambling then one can make good money in gambling.


Title: Re: How to gamble the right way
Post by: sabbirshm on October 29, 2016, 04:18:44 PM
Firstly, you have to control your temper,don't be too greedy.Never expect earning much from gambling.And always bet small which you can afford to lose.Lastly, if you wanna earn decent amount with taking risk I will suggest to try sports betting.


Title: Re: How to gamble the right way
Post by: romanticks on October 29, 2016, 05:20:19 PM
There is no right way to gamble, The odds are always against the player to the same extent whether you use a martingale strategy or any other strategy, There are always a house edge against the player unless you are cheating or something like arbitrary in sportbetting.


Title: Re: How to gamble the right way
Post by: same21 on November 07, 2016, 04:54:54 AM
There are lots of ways to gamble the right way. First you need to set a limit of your bet(bankroll). Stick to the budget and never fake it. Accept that you lose more than winning so bet on what you can afford to lose. It means if you lose a certain amount, it is easy for you to earn that amount in a shortest possible time. Never borrow money to gamble because you will double lose it, this will be beginning of your addiction. If you lose accept it with whole heart, if you don't want to lose anymore don't play again. 


Title: Re: How to gamble the right way
Post by: Invulner on November 07, 2016, 05:00:08 AM
There is no "right way" to gambling. Gambling is gambling. There are risks and you must realise that before you start gambling. Don't treat it as a way to earn money. Gambling is a way to lose money in the long run.

However, that doesn't mean that you shouldn't gamble for fun. Gambling is enjoyable for some.


Title: Re: How to gamble the right way
Post by: MinerHQ on November 07, 2016, 06:59:33 AM
There is no right way to gamble, The odds are always against the player to the same extent whether you use a martingale strategy or any other strategy, There are always a house edge against the player unless you are cheating or something like arbitrary in sportbetting.

The only right way is just gambling for fun with a small amount which you can afford to lose once in awhile. Don't ever try to gamble to win big money from gambling because that will make you greedy and end up lose a lot of money in gambling. Whether it is sports betting or online games just remember to gamble only for fun and entertainment purpose.


Title: Re: How to gamble the right way
Post by: hajimasan on December 13, 2016, 08:11:36 AM
Hi guys,

After seeing a lots of threads where people asked about the best gambling strategy, I thought I could share a bit of my knowledge on these questions in order to hopefully bring some insights to those who are not aware of it yet.

Please bear in my mind that the comments I will make are not my personal point of view on the topic of gambling, which is simply a form of financial investment, but only a recap of what is generally admitted among researchers in economics and by extension in the financial industry.

Also note that I will only talk about betting on real events like sport games (typically sports betting or trading on prediction markets).

Are there some martingale techniques that allow a gambler or an investor to make money at a single bookie?

As you probably know, there is none, simply because the bookmaker sets the rules for its bets in order to favor its own profit over its players' profit. This is generally achieved by setting a margin (overround).

All right, so that means there's no way I can make a profit in gambling?

Well, not really. You can actually make a profit out of gambling but you have to rely on other things than a simple technical procedure like a martingale.

Basically, there are two key aspects to take into account:
  • Information (e.g. teams' relative strengths)
  • Bankroll management (i.e. What percentage of your betting budget is it reasonable to bet)

I'll come back with details on these two aspects later on.

I said there is no martingale that guarantees you a profit at a single bookie but there is actually one that can do it if you bet at several bookies.
Most of you probably know it: it's called sure betting or simply arbitrage in financial terms.

The idea behind sure betting is the same as the one behind arbitrage. When you want to make an arbitrage on a financial market, you need to find two markets where the price of the same stock or whatever financial product is different. In such a case, you buy the stock on the cheaper market and you sell it on the more expensive one, thus ensuring a sure profit (the price difference).

Sure betting works similarly: you need to find at least two different bookies that will give odds high enough to ensure a sure profit. To be more specific, suppose you want to bet on a two-way game opposing A vs B. If odds_A denotes the (decimal) odds in favor of A and odds_B denotes the (decimal) odds in favor of B, then you need to find those odds such that: 1/odds_A + 1/odds_B < 1.

For example, if odds_A = 2 and odds_B = 2.1 then 1/2 + 1/2.1 = 0.976... < 1. Then, to make a sure bet, you just wage w*1/odds_A on A and w*1/odds_B on B where w is any number you want (the higher w, the higher your sure profit). When the game is decided:
  • if A wins: you get odds_A*(w*1/odds_A) - w*1/odds_A - w*1/odds_B = w*(1 - 1/odds_A - 1/odds_B) > 0
  • if B wins: you get odds_B*(w*1/odds_B) - w*1/odds_A - w*1/odds_B = w*(1 - 1/odds_A - 1/odds_B) > 0

In fact, when you bet money on the victory of A, it's like you "buy A" and when you bet money on the victory of B, it's like you "sell A" since it is the opposite of supporting the victory of A. Thus, you buy and sell the same product on two different bookies but at a different price, hence the profit.

Information

Information is just a general way of saying that you need to know the teams, players and games you are betting on.
While everybody knows that, it is often a good idea to push the concept a bit further and analyze the odds to see whether there is a betting opportunity (also referred to as value betting by gamblers).
When you see the set of odds offered by a bookie on a market (assuming that it did not receive any bets yet), it actually tells you what the bookie thinks about what is likely to happen in the game. Taking the same example as before with A and B, odds_A and odds_B can be break down into this:
  • odds_A = 1/(overround * p_A)
  • odds_B = 1/(overround * p_B)

where p_A and p_B are the respective implicit probabilities of A winning and B winning and overround is the margin of the bookie (>1) and can be calculated by:
overround = 1/odds_A + 1/odds_B. Putting, those formulas together, you have an easy way of calculating the implicit probabilities of the game, according to the bookmaker:
  • p_A = (1/odds_A) / (1/odds_A + 1/odds_B)
  • p_B = (1/odds_B) / (1/odds_A + 1/odds_B)

For example, if odds_A = 1.35 and odds_B = 3.05, then p_A = (1/1.35)/(1/1.35 + 1/3.05) = 69.3% and p_B = (1/3.05)/(1/1.35 + 1/3.05) = 30.7%.

Hence, if you have the same opinion, in other words the same probabilities, as the bookie for this game, the average net profit you would get out of this game by betting on A would be:
p_A * odds_A*w + p_B * 0 - w = w*(1/overround - 1) < 0 (and similarly for a bet on B)

which shows that in these conditions, it's not rationally a good idea to bet. Of course, you could still bet if you are "sure" that A or B is going to win but that's not a rational argument but I am leaving it aside for the sake of the discussion.

However, you can hold a different view on what's going to happen in the game, i.e. have a different opinion. Bookies are not error-proof as several university studies showed it over the years. Thus, if you think A has a chance of winning of q_A and B has a chance of winning of q_B, then your average net profit betting on A would be:
q_A * odds_A*w + q_B * 0 - w = w*(q_A/(p_A*overround) - 1) (and similarly for a bet on B)

In such a case, if q_A is high enough, i.e. you think A has much more chance of winning than what the bookie actually suggests, then you could achieve a profit (in average).
To be more specific, this will be the case if q_A/(p_A*overround) - 1 > 0 i.e q_A > p_A*overround = 1/odds_A. Of course, the more the overround is low (low margin), the more likely you are to find such opportunities at a bookie.

Bankroll management

Bankroll management is a much more complicated topic. The most well-known method of managing your betting amounts is the Kelly criterion.
It basically tells you how much you should bet on a particular outcome given the probabilities of the game and your betting budget as well. It aims at getting you the maximal possible increase of your bankroll over the time.
Another pro for using a bankroll management technique is that it forces you to avoid betting unreasonable amounts that could bankrupt you. Because if you are in that case, it is much more difficult to recover from your losses as you are dead broke and you do need money to bet.

I could elaborate more on the technical aspects of the Kelly criterion but I don't know if you guys are interested or not.

So, on top of my head, these are the most important facts to know when betting in order to avoid major fails.
If you have any questions or possibly don't agree (:)), let me know!
According to Me there is no Stertagy or Tricks available to win in gambling because there is a big truth that all casinos work on a Probability and you can't win in long run in gambling So I Suggest you to Leave gambling and do some other business that will help you to make some profits.


Title: Re: How to gamble the right way
Post by: BossMacko on December 13, 2016, 08:25:11 AM
Quote
According to Me there is no Stertagy or Tricks available to win in gambling because there is a big truth that all casinos work on a Probability and you can't win in long run in gambling So I Suggest you to Leave gambling and do some other business that will help you to make some profits.

I don't agree 100% with this because in sports betting you will only lose because of the pick you made not because casino are controlling the game because you have a bet. Losing in a long run usually happens if you are playing dice etc etc , games that are luck based.


Title: Re: How to gamble the right way
Post by: Kasabus on December 15, 2016, 01:31:01 PM
Quote
According to Me there is no Stertagy or Tricks available to win in gambling because there is a big truth that all casinos work on a Probability and you can't win in long run in gambling So I Suggest you to Leave gambling and do some other business that will help you to make some profits.

I don't agree 100% with this because in sports betting you will only lose because of the pick you made not because casino are controlling the game because you have a bet. Losing in a long run usually happens if you are playing dice etc etc , games that are luck based.
That could also be possible in sports betting, you will lose in the long run if you do not have the enough bankroll to run in the time period of your betting journey and if you will not be able to control your emotion.


Title: Re: How to gamble the right way
Post by: Labumi on December 15, 2016, 01:38:18 PM
Quote
According to Me there is no Stertagy or Tricks available to win in gambling because there is a big truth that all casinos work on a Probability and you can't win in long run in gambling So I Suggest you to Leave gambling and do some other business that will help you to make some profits.

I don't agree 100% with this because in sports betting you will only lose because of the pick you made not because casino are controlling the game because you have a bet. Losing in a long run usually happens if you are playing dice etc etc , games that are luck based.
That could also be possible in sports betting, you will lose in the long run if you do not have the enough bankroll to run in the time period of your betting journey and if you will not be able to control your emotion.

The defeat and the advantage is something we can get in the gambling, so if we make a profit then that exceptional things and if we get sebalinya (defeat) then we should learn better. And bankroll isn't something to make us win or lose, because their bankroll is not central in every thing. And the thing we have to think of is strategy and self control, if we can have both of those things then any little bets we have will end up on the fun and profit


Title: Re: How to gamble the right way
Post by: Natalim on December 16, 2016, 10:17:32 AM
Quote
According to Me there is no Stertagy or Tricks available to win in gambling because there is a big truth that all casinos work on a Probability and you can't win in long run in gambling So I Suggest you to Leave gambling and do some other business that will help you to make some profits.

I don't agree 100% with this because in sports betting you will only lose because of the pick you made not because casino are controlling the game because you have a bet. Losing in a long run usually happens if you are playing dice etc etc , games that are luck based.
That could also be possible in sports betting, you will lose in the long run if you do not have the enough bankroll to run in the time period of your betting journey and if you will not be able to control your emotion.

The defeat and the advantage is something we can get in the gambling, so if we make a profit then that exceptional things and if we get sebalinya (defeat) then we should learn better. And bankroll isn't something to make us win or lose, because their bankroll is not central in every thing. And the thing we have to think of is strategy and self control, if we can have both of those things then any little bets we have will end up on the fun and profit
Bankroll is not a central thing but you need it for you to be able to win a decent amount of money, your ability to predict the outcome of the will lead you to success only if you are able to do it will discipline. Meaning, you will not be affected by the mixed emotions along the way, and you ability to manage yourself will make you more successful in the long run.


Title: Re: How to gamble the right way
Post by: TheGodFather on December 16, 2016, 10:56:41 AM
there's a right way to gamble first you must have enough capital to start with and put it on a gambling sites bankroll that you preferred. and also when you're already playing gambling you must start your 3 rounds in a low bet amount because thats the way you can see if you're a lucky enough to play with a high bet amount.


Title: Re: How to gamble the right way
Post by: chixka000 on December 16, 2016, 12:40:31 PM
there is no special way of playing gambling. we just follow the flow and try to hope that we succeed. playing gambling is risking life and most of our money.

Obviously, in my opinion gambling the right way means you as a gambler enjoys while playing. In that way you were able to release some stress. Tho, if you think of your profit then you maybe are right there is no such way.


Title: Re: How to gamble the right way
Post by: Caladonian on December 16, 2016, 02:29:15 PM
there's a right way to gamble first you must have enough capital to start with and put it on a gambling sites bankroll that you preferred. and also when you're already playing gambling you must start your 3 rounds in a low bet amount because thats the way you can see if you're a lucky enough to play with a high bet amount.
we can't rely on it mate as we knew that even small bets will let us lose if streak will be continuously as we really can't control anything if we are in play so i think it is much better to plan before to start making sure that the money that you will going to use is the one that you can afford to lose then assess what type of a gambler you can be, checking your emotions and fears in that way you can avoid losing control when you are not lucky from that particular day so you can quit and relax think for another day maybe you can be lucky.


Title: Re: How to gamble the right way
Post by: serjent05 on December 16, 2016, 02:39:12 PM
there's a right way to gamble first you must have enough capital to start with and put it on a gambling sites bankroll that you preferred. and also when you're already playing gambling you must start your 3 rounds in a low bet amount because thats the way you can see if you're a lucky enough to play with a high bet amount.
we can't rely on it mate as we knew that even small bets will let us lose if streak will be continuously as we really can't control anything if we are in play so i think it is much better to plan before to start making sure that the money that you will going to use is the one that you can afford to lose then assess what type of a gambler you can be, checking your emotions and fears in that way you can avoid losing control when you are not lucky from that particular day so you can quit and relax think for another day maybe you can be lucky.

I agree I think the right way to gamble has something to do about managing your money and managing risk.  These two are the most important factor.  It does not tackle about winning because people are aware that winning is just a chance, you can never sure that you will win in every roll.  You have no control on it.  What you have control is the things you have at the moment.  The bet, the option to continue or quit, the statistics, you should make use of this thing.  And most importantly your emotion.  Never let your emotion control you instead control your emotion the same way don't be played byt the system but rather play the system to your favor.  


Title: Re: How to gamble the right way
Post by: Tanic on December 16, 2016, 03:30:31 PM
To gamble good way you need practice and to find out your own strategy and style. I would recommend to wastch some lessons from professional gamblers on YouTube I think that may help in the most beginning.


Title: Re: How to gamble the right way
Post by: Shinpako09 on December 16, 2016, 04:26:21 PM
The right way to gamble is gamble only what you can afford to lose and run away if you get a profit. As well as find a game that you like the most and your comfortable with that you can make a profit with it.


Title: Re: How to gamble the right way
Post by: arseaboy on December 16, 2016, 05:43:06 PM
To gamble good way you need practice and to find out your own strategy and style. I would recommend to wastch some lessons from professional gamblers on YouTube I think that may help in the most beginning.
Practice is a good way to build a strategy when you gamble.. but it will not guaranteed you a consistent win. Just play smart like the other pro gamblers and make sure not to lose all your money.


Title: Re: How to gamble the right way
Post by: emberbekas on December 16, 2016, 05:51:10 PM
Gamble in the right way is when we able to enjoy the game no matter what the result is. Keep gambling with the amount that wont hurt us if we lost it. Thats the best way so far if we wanted to avoid such a bad result from this activity.


Title: Re: How to gamble the right way
Post by: n0ne on December 16, 2016, 05:56:58 PM
Gamble in the right way is when we able to enjoy the game no matter what the result is. Keep gambling with the amount that wont hurt us if we lost it. Thats the best way so far if we wanted to avoid such a bad result from this activity.

Gambling based upon our ability to withstand is the best way. No matter whether we won or not, it should not make a difficulty in our living standard. So limiting the expectations of winning and placing small bet amount looks to be a right way of gambling.


Title: Re: How to gamble the right way
Post by: mrcash02 on December 16, 2016, 05:58:57 PM
Gamble in the right way is when we able to enjoy the game no matter what the result is. Keep gambling with the amount that wont hurt us if we lost it. Thats the best way so far if we wanted to avoid such a bad result from this activity.

It's hard for the most gamblers, they will be only happy if the result is positive, profitable. I agree with you, we need to play only with what we are afford to lose, money that we won't miss later. The right way to gamble is using only a small part of our monthly money, if it's your hobby, spend with gambling what you would spend with another hobby, depending the person, some people can spend more and anothers less.


Title: Re: How to gamble the right way
Post by: titibach on December 16, 2016, 05:59:27 PM
The right way to gamble is gamble only what you can afford to lose and run away if you get a profit. As well as find a game that you like the most and your comfortable with that you can make a profit with it.

And there you have the posts with the most sense in one line.


Title: Re: How to gamble the right way
Post by: smho_16 on December 16, 2016, 07:21:51 PM
I wish I had an answer to that but I am afraid such way to gamble doesn't exist yet. You cannot gamble the right way whatever way you try. The best would be to stay out of the gambling.

If you insist on gambling than set a part a small bankroll monthly which doesn't affect your life(the way you are used to live) and play this amount on your favorite, slots, roulette, blackjack, dice or sports betting.

However keep in mind that history has shown that even people who start out with such bankroll in the end , they end up adding more and more money and losing like everyone else.

Right way to gamble= No gamble at all.


Title: Re: How to gamble the right way
Post by: Bigdan on December 16, 2016, 08:12:04 PM
Know when to bet, which games to bet on and above all how much to bet on a game.


Title: Re: How to gamble the right way
Post by: Barbut on December 16, 2016, 08:21:28 PM
Know when to bet, which games to bet on and above all how much to bet on a game.

That is simple example how to gamble in right way, I saw some article about poker 'if you play hand like you see other people cards you will win'. But its not so easy to gamble like that all the time.
Gambling in right way is just not spending money you can't afford to lose, don't fall in depts just cause of gambling, then you will lose work and family, friends. Its addiction that push you more down.


Title: Re: How to gamble the right way
Post by: alphablitzer on December 16, 2016, 11:00:35 PM
I think there's no procedure for doing it the right way, but if you mean that the Right Way is winning every time, that's going to be really hard. That's really not how it does. It's luck that explains it also. What happens is be careful and be smart in your bets, just don't regret it.


Title: Re: How to gamble the right way
Post by: MinerHQ on December 17, 2016, 12:18:03 AM
To gamble good way you need practice and to find out your own strategy and style. I would recommend to wastch some lessons from professional gamblers on YouTube I think that may help in the most beginning.
Practice is a good way to build a strategy when you gamble.. but it will not guaranteed you a consistent win. Just play smart like the other pro gamblers and make sure not to lose all your money.

In gambling, all those prior experiences are just to increase your winning chances but to win money one should need only luck, and without luck, it is impossible to win money in gambling. I don't think even all pro gamers are making money in the long term but one or two may have success, and rest of them end up losing money.


Title: Re: How to gamble the right way
Post by: Maslate on December 17, 2016, 12:55:04 AM
To gamble good way you need practice and to find out your own strategy and style. I would recommend to wastch some lessons from professional gamblers on YouTube I think that may help in the most beginning.
Practice is a good way to build a strategy when you gamble.. but it will not guaranteed you a consistent win. Just play smart like the other pro gamblers and make sure not to lose all your money.

In gambling, all those prior experiences are just to increase your winning chances but to win money one should need only luck, and without luck, it is impossible to win money in gambling. I don't think even all pro gamers are making money in the long term but one or two may have success, and rest of them end up losing money.
Luck is a gift and I believe we have our own luck in our own time, in gambling with luck only in your mind you will win but will not succeed in the long run, that's show it work. Everything involves hard word and though gambling is easy to do but with the fact that it's hard to win, that's the puzzle one should figure out how to win easy.


Title: Re: How to gamble the right way
Post by: Script3d on December 17, 2016, 02:08:50 AM
The right way to gamble is gamble only what you can afford to lose and run away if you get a profit. As well as find a game that you like the most and your comfortable with that you can make a profit with it.
your right but there are some people that cant afford to lose , there are people who is been greedy and doesnt stop when get enough profit. most of people comfortable game is dice.


Title: Re: How to gamble the right way
Post by: Noctis Connor on December 17, 2016, 03:04:17 AM
the perfect way to gamble is to put all your money in a gambling sites bankroll that you preferred and play it with a max bet and just relax and let it do his magic if you're lucky enough you could easily doubled your bank roll and you could cash it out again in just a snap. im using this method many times and its working . im just playing satoshimines because theres no need to register there.


Title: Re: How to gamble the right way
Post by: Ziskinberg on December 17, 2016, 03:56:57 AM
the perfect way to gamble is to put all your money in a gambling sites bankroll that you preferred and play it with a max bet and just relax and let it do his magic if you're lucky enough you could easily doubled your bank roll and you could cash it out again in just a snap. im using this method many times and its working . im just playing satoshimines because theres no need to register there.
If it works for you then I can conclude that you are lucky, dice games really are entertaining and this is good for real gamblers who wants to try their luck. What I admire about your method is you only put the amount of money you preferred to gamble, some gamblers cannot do it, they always add more in the event they loses their initial bankroll and I can say that is lack of discipline out there.


Title: Re: How to gamble the right way
Post by: chris200x9 on December 17, 2016, 06:02:56 AM
the perfect way to gamble is to put all your money in a gambling sites bankroll that you preferred and play it with a max bet and just relax and let it do his magic if you're lucky enough you could easily doubled your bank roll and you could cash it out again in just a snap. im using this method many times and its working . im just playing satoshimines because theres no need to register there.
If it works for you then I can conclude that you are lucky, dice games really are entertaining and this is good for real gamblers who wants to try their luck. What I admire about your method is you only put the amount of money you preferred to gamble, some gamblers cannot do it, they always add more in the event they loses their initial bankroll and I can say that is lack of discipline out there.
This method will not work for all gamblers, Those who have a lot of money and those who ready to lose huge amount they can try this. For normal people, if they follow this they may face a big loss. So my suggestion doesn't check your luck like this. Use your skills and play skill games you may double your investment.


Title: Re: How to gamble the right way
Post by: Kasabus on December 17, 2016, 09:26:26 AM
the perfect way to gamble is to put all your money in a gambling sites bankroll that you preferred and play it with a max bet and just relax and let it do his magic if you're lucky enough you could easily doubled your bank roll and you could cash it out again in just a snap. im using this method many times and its working . im just playing satoshimines because theres no need to register there.
If it works for you then I can conclude that you are lucky, dice games really are entertaining and this is good for real gamblers who wants to try their luck. What I admire about your method is you only put the amount of money you preferred to gamble, some gamblers cannot do it, they always add more in the event they loses their initial bankroll and I can say that is lack of discipline out there.
This method will not work for all gamblers, Those who have a lot of money and those who ready to lose huge amount they can try this. For normal people, if they follow this they may face a big loss. So my suggestion doesn't check your luck like this. Use your skills and play skill games you may double your investment.
Certainly we aim to make money in the end but it does not happen all the time, sometimes we lose while sometimes we also win. Putting a big amount of bet is risky when you cannot afford it, you might not enjoy gambling and quit for good due to discouragement of the negative output, however a real gambling knows how to accept defeat and by accepting though it's not happening yet would  already ease the burden.


Title: Re: How to gamble the right way
Post by: nasipadang on December 17, 2016, 10:37:29 AM
you must control yourself is the first right way, very rare if there is someone who can control yourself to gamble


Title: Re: How to gamble the right way
Post by: tabas on December 17, 2016, 11:39:44 AM
you must control yourself is the first right way, very rare if there is someone who can control yourself to gamble

This is just on my second list, because for me the first thing that we need to know on how to gamble in right way is that you need to know if you can accept the fact that you can lose. If you know how to accept defeat then you are aware that gambling is not just something that you will try and hope to win a lot afterwards.


Title: Re: How to gamble the right way
Post by: tyz on December 17, 2016, 11:46:00 AM
@PrediMarket: Thanks for your explanation. I read it through two times carefully. From the theoretical side you are right. It is a good approach and strategy to be profitable in gambling. However you missed the psychological side. Fear and greed are big players when it comes to gambling. And we are no machines. We can not stop our feelings. We can train it, but it needs time.


Title: Re: How to gamble the right way
Post by: Oilacris on December 17, 2016, 11:48:59 AM
the perfect way to gamble is to put all your money in a gambling sites bankroll that you preferred and play it with a max bet and just relax and let it do his magic if you're lucky enough you could easily doubled your bank roll and you could cash it out again in just a snap. im using this method many times and its working . im just playing satoshimines because theres no need to register there.
If it works for you then I can conclude that you are lucky, dice games really are entertaining and this is good for real gamblers who wants to try their luck. What I admire about your method is you only put the amount of money you preferred to gamble, some gamblers cannot do it, they always add more in the event they loses their initial bankroll and I can say that is lack of discipline out there.
This method will not work for all gamblers, Those who have a lot of money and those who ready to lose huge amount they can try this. For normal people, if they follow this they may face a big loss. So my suggestion doesn't check your luck like this. Use your skills and play skill games you may double your investment.
Certainly we aim to make money in the end but it does not happen all the time, sometimes we lose while sometimes we also win. Putting a big amount of bet is risky when you cannot afford it, you might not enjoy gambling and quit for good due to discouragement of the negative output, however a real gambling knows how to accept defeat and by accepting though it's not happening yet would  already ease the burden.
Most gamblers do suffer on this kind of situation on which they dont really accept defeat and dont just let the day to finish with a negative profits thats why they are pursuing or forcing themselves to bet even more even they know the risk of losing more.Playing gambling does really require luck and a good money and risk management.


Title: Re: How to gamble the right way
Post by: BTCLovingDude on December 17, 2016, 01:10:36 PM
the perfect way to gamble is to put all your money in a gambling sites bankroll that you preferred and play it with a max bet and just relax and let it do his magic if you're lucky enough you could easily doubled your bank roll and you could cash it out again in just a snap. im using this method many times and its working . im just playing satoshimines because theres no need to register there.
If it works for you then I can conclude that you are lucky, dice games really are entertaining and this is good for real gamblers who wants to try their luck. What I admire about your method is you only put the amount of money you preferred to gamble, some gamblers cannot do it, they always add more in the event they loses their initial bankroll and I can say that is lack of discipline out there.
This method will not work for all gamblers, Those who have a lot of money and those who ready to lose huge amount they can try this. For normal people, if they follow this they may face a big loss. So my suggestion doesn't check your luck like this. Use your skills and play skill games you may double your investment.
Certainly we aim to make money in the end but it does not happen all the time, sometimes we lose while sometimes we also win. Putting a big amount of bet is risky when you cannot afford it, you might not enjoy gambling and quit for good due to discouragement of the negative output, however a real gambling knows how to accept defeat and by accepting though it's not happening yet would  already ease the burden.
Most gamblers do suffer on this kind of situation on which they dont really accept defeat and dont just let the day to finish with a negative profits thats why they are pursuing or forcing themselves to bet even more even they know the risk of losing more.Playing gambling does really require luck and a good money and risk management.

this can essentially work too, but it is only if you are not acting out of pure emotions and no thought.
for example if you have a plan and you are sure that your strategy is strong and reliable then it is good to pursue your losses to try and win them back. but what usually happens is that people get emotional and mad then they start making bets without thinking and end up losing all their money.


Title: Re: How to gamble the right way
Post by: daringdiscovered on December 18, 2016, 07:55:46 AM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.


Title: Re: How to gamble the right way
Post by: ged00u on December 18, 2016, 09:20:33 AM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
I do agree with you. Greediness is the reason why people lose their money in gambling. Greediness lead to the results that they will lose the ability to control themselves. I hate to admit that but I still can not control my temper while gambling and it is not good at all. I have lost about 0.05 bitcoin. I think I must improve this skill in order not to lose Bitcoin anymore


Title: Re: How to gamble the right way
Post by: katrimans on December 18, 2016, 07:46:07 PM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
I do agree with you. Greediness is the reason why people lose their money in gambling. Greediness lead to the results that they will lose the ability to control themselves. I hate to admit that but I still can not control my temper while gambling and it is not good at all. I have lost about 0.05 bitcoin. I think I must improve this skill in order not to lose Bitcoin anymore
Yes whenever you will be able to control your emotions, you will be able to gamble in a right way. A right way must be with very limited number of losses but profits are more than that as no gamblers will be able to playing it without losses.

If you are able to control your emotions you can minimize the losses. When you are having control over your losses, automatically you will get more chances to maximize your profits.


Title: Re: How to gamble the right way
Post by: nikona on December 18, 2016, 07:55:59 PM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.

I agree with him, Greed is the primary reason that makes most of the gamblers lose money. You also need discipline and good bankroll management strategy.


Title: Re: How to gamble the right way
Post by: carlerha on December 18, 2016, 09:13:55 PM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
yes that is also right, but i think the most important thing is to remain patient and set a strategy for gambling and to follow that strategy then you can play gambling in right way, otherwise gambling is too much risky.


Title: Re: How to gamble the right way
Post by: Japinat on December 19, 2016, 06:26:44 AM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
yes that is also right, but i think the most important thing is to remain patient and set a strategy for gambling and to follow that strategy then you can play gambling in right way, otherwise gambling is too much risky.
For one who does not believe in strategy will only rely on their faith of luck in gambling, they can win when they are lucky and lose if not. But if we are really doing it for a longer time, I guess it is necessary to have the right strategy, it should include our strategy to limit ourselves when to stop when we lose or win, it's called discipline gambling, with strategy it is understood that our emotion should not play a vital part but we are more focus on the game plan itself.


Title: Re: How to gamble the right way
Post by: Blitzboy on December 19, 2016, 08:24:28 AM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
yes that is also right, but i think the most important thing is to remain patient and set a strategy for gambling and to follow that strategy then you can play gambling in right way, otherwise gambling is too much risky.
For one who does not believe in strategy will only rely on their faith of luck in gambling, they can win when they are lucky and lose if not. But if we are really doing it for a longer time, I guess it is necessary to have the right strategy, it shouuld include our strategy to limit ourselves when to stop when we lose or win, it's called discipline gambling, with strategy it is understood that our emotion should not play a vital part but we are more focus on the game plan itself.
Although being luck in gambling is an important factor, having strategy will also help you to reduce the loss amount. In case you do not have any luck, strategy will definitely be your best friend in gambling. Drawing a strategy is very hard, but if you work hard and spend time on it, you will succeed. Strategy also gives us the ability to control ourselves while gambling. So I think @Japinat is aboslutely right about what he is saying


Title: Re: How to gamble the right way
Post by: Kotone on December 19, 2016, 08:40:32 AM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
Every one are beggin greed you can't say that you don't need to be greed this is the mainstream problem of gambling most of player are failure playing gambling and they always pushing them selves to play alot and yes then can't really control their self actually by stoping playing gambling.,


Title: Re: How to gamble the right way
Post by: SvenBomvolen on December 19, 2016, 08:53:00 AM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
Every one are beggin greed you can't say that you don't need to be greed this is the mainstream problem of gambling most of player are failure playing gambling and they always pushing them delves to play alot and yes then can't really control their self actually bye, stoping playing gambling.,

   We always wish more and that's why we are greedy. Question is how to gamble in right way, its simple dont space and all money you have on gambling.
   I dont gamble with more then 2 mbtc, that is how much I can  spend for one betting slip. When I win I can rise that double, but no more then that. Its how you gamble in right way and control yourself in gambling.


Title: Re: How to gamble the right way
Post by: Caladonian on December 19, 2016, 08:54:00 AM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
Every one are beggin greed you can't say that you don't need to be greed this is the mainstream problem of gambling most of player are failure playing gambling and they always pushing them selves to play alot and yes then can't really control their self actually by stoping playing gambling.,
greediness should be taken away from your mind, self control and stop panicking when you are in loss is needed to make sure you are still in control because allowing your emotion to eat you up will only result to lose more, and chasing it to regain that particular loses will make us gamble more and more always take some time to quit if luck is not on your side and plan another strategy before playing again.


Title: Re: How to gamble the right way
Post by: Oilacris on December 19, 2016, 09:45:33 AM
the perfect way to gamble is to put all your money in a gambling sites bankroll that you preferred and play it with a max bet and just relax and let it do his magic if you're lucky enough you could easily doubled your bank roll and you could cash it out again in just a snap. im using this method many times and its working . im just playing satoshimines because theres no need to register there.
If it works for you then I can conclude that you are lucky, dice games really are entertaining and this is good for real gamblers who wants to try their luck. What I admire about your method is you only put the amount of money you preferred to gamble, some gamblers cannot do it, they always add more in the event they loses their initial bankroll and I can say that is lack of discipline out there.
This method will not work for all gamblers, Those who have a lot of money and those who ready to lose huge amount they can try this. For normal people, if they follow this they may face a big loss. So my suggestion doesn't check your luck like this. Use your skills and play skill games you may double your investment.
Certainly we aim to make money in the end but it does not happen all the time, sometimes we lose while sometimes we also win. Putting a big amount of bet is risky when you cannot afford it, you might not enjoy gambling and quit for good due to discouragement of the negative output, however a real gambling knows how to accept defeat and by accepting though it's not happening yet would  already ease the burden.
Most gamblers do suffer on this kind of situation on which they dont really accept defeat and dont just let the day to finish with a negative profits thats why they are pursuing or forcing themselves to bet even more even they know the risk of losing more.Playing gambling does really require luck and a good money and risk management.

this can essentially work too, but it is only if you are not acting out of pure emotions and no thought.
for example if you have a plan and you are sure that your strategy is strong and reliable then it is good to pursue your losses to try and win them back. but what usually happens is that people get emotional and mad then they start making bets without thinking and end up losing all their money.
Emotions do normally comes out when you are playing gambling specially when you are experiencing loses and as you said being mad would surely destroy your decisions and betting style and would completely change therefore making bad decisions will lead you to lose.Most gamblers will definitely experience this thats why some of them trying to overcome it.


Title: Re: How to gamble the right way
Post by: Oralmat on December 19, 2016, 09:54:56 AM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
Every one are beggin greed you can't say that you don't need to be greed this is the mainstream problem of gambling most of player are failure playing gambling and they always pushing them selves to play alot and yes then can't really control their self actually by stoping playing gambling.,
greediness should be taken away from your mind, self control and stop panicking when you are in loss is needed to make sure you are still in control because allowing your emotion to eat you up will only result to lose more, and chasing it to regain that particular loses will make us gamble more and more always take some time to quit if luck is not on your side and plan another strategy before playing again.

Greediness is bad thing, but greedy is not bad, You know every gambler have greedy than he play gambling. Otherwise, if we are too conscious about our amount, than definitely we don't want to take high risk, and every time we are conscious about our money,
So, i want to explain that every gambler should greedy, but not in a bad way, and should control our-self in every step of gambling.


Title: Re: How to gamble the right way
Post by: Vaskiy on December 19, 2016, 09:58:55 AM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
Every one are beggin greed you can't say that you don't need to be greed this is the mainstream problem of gambling most of player are failure playing gambling and they always pushing them selves to play alot and yes then can't really control their self actually by stoping playing gambling.,

That's true, everyone were found greedy. Being into the gambling, users automatically gets greediness and this is the reason for addiction. Every users can overcome addiction, but some find itself a good.


Title: Re: How to gamble the right way
Post by: molsewid on December 19, 2016, 04:04:12 PM
the right way to gamble is to play with your own risk and dont be too greedy when you're losing because this will be the reason to lose all your money remember to stay chill at all times so your mind will be clear and you can decide on the right mind and also dont play gambling games that has a low winnings. go try to play dice game and sportsbetting you could gain more profit from there/.


Title: Re: How to gamble the right way
Post by: Labumi on December 19, 2016, 04:04:23 PM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
Every one are beggin greed you can't say that you don't need to be greed this is the mainstream problem of gambling most of player are failure playing gambling and they always pushing them selves to play alot and yes then can't really control their self actually by stoping playing gambling.,

That's true, everyone were found greedy. Being into the gambling, users automatically gets greediness and this is the reason for addiction. Every users can overcome addiction, but some find itself a good.

Yeah, that is the reason that always made answer by some people who do gambling. Because in gambling we will definitely feel the pleasure that is sustainable in a mendapatakan advantage we can get, but all the things that exist in the gambling making us perceive it so wrong in the original stuff for the fun turns into ugliness or bring disasters because affected by addiction to high level


Title: Re: How to gamble the right way
Post by: serjent05 on December 19, 2016, 04:17:08 PM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.

Aside from that one should gamble the money that is not being used.  A gambler should avoid using the money allocated on family budgets and bill payments.  This way whenever he lost the bankroll, the family won't be affected.   If you are winning and see profit , it would be better to quit and take home the winnings.  Or you can withdraw the bankroll and play with the profit.  This way you can enjoy gambling with the expense of nothing.


Title: Re: How to gamble the right way
Post by: MWesterweele on December 19, 2016, 04:19:22 PM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
Every one already told that gambling must not be greedy but everyone are greed to wealth and earn that fast without knowing the risk Actually yes it is not good to play with greedy way but this is the only way to earn money as fast as easy counting 123 self discipline is not actually accurate with our self if we lose then we lose just accept it.


Title: Re: How to gamble the right way
Post by: poplolnman on February 22, 2017, 07:24:31 AM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
Every one already told that gambling must not be greedy but everyone are greed to wealth and earn that fast without knowing the risk Actually yes it is not good to play with greedy way but this is the only way to earn money as fast as easy counting 123 self discipline is not actually accurate with our self if we lose then we lose just accept it.

Agreed, actually, we are greedy to earn money in a short way, and in this way, gambling is a right way, to earn fast. But in fact it is a way to lose the amount too fast. But every gambler play gambling with a dream that may be he win and if he win than definitely we earn very fast, and also mostly gamblers like to take a risk from gambling.
as long as you didn't make it as source of income then take a risk in gambling for one time or twice it's fine, but the problem are when mostly people hooked to keep playing once they have experienced a nice winning. that was the beginning of addiction and greed. then gambling turn into something not right.


Title: Re: How to gamble the right way
Post by: n0ne on February 22, 2017, 07:45:07 AM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
Every one already told that gambling must not be greedy but everyone are greed to wealth and earn that fast without knowing the risk Actually yes it is not good to play with greedy way but this is the only way to earn money as fast as easy counting 123 self discipline is not actually accurate with our self if we lose then we lose just accept it.

Agreed, actually, we are greedy to earn money in a short way, and in this way, gambling is a right way, to earn fast. But in fact it is a way to lose the amount too fast. But every gambler play gambling with a dream that may be he win and if he win than definitely we earn very fast, and also mostly gamblers like to take a risk from gambling.
as long as you didn't make it as source of income then take a risk in gambling for one time or twice it's fine, but the problem are when mostly people hooked to keep playing once they have experienced a nice winning. that was the beginning of addiction and greed. then gambling turn into something not right.
That's true. Even at those instance users need to be active to overcome the greed and make the right move. Can quit it for a short or can make a pause to big betting. This helps the user avoid unnecessary losses as well gives the hope to win and stay away from addiction.


Title: Re: How to gamble the right way
Post by: bitcoinmasterlord on February 22, 2017, 09:49:33 AM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
Every one already told that gambling must not be greedy but everyone are greed to wealth and earn that fast without knowing the risk Actually yes it is not good to play with greedy way but this is the only way to earn money as fast as easy counting 123 self discipline is not actually accurate with our self if we lose then we lose just accept it.

Agreed, actually, we are greedy to earn money in a short way, and in this way, gambling is a right way, to earn fast. But in fact it is a way to lose the amount too fast. But every gambler play gambling with a dream that may be he win and if he win than definitely we earn very fast, and also mostly gamblers like to take a risk from gambling.
as long as you didn't make it as source of income then take a risk in gambling for one time or twice it's fine, but the problem are when mostly people hooked to keep playing once they have experienced a nice winning. that was the beginning of addiction and greed. then gambling turn into something not right.
That's true. Even at those instance users need to be active to overcome the greed and make the right move. Can quit it for a short or can make a pause to big betting. This helps the user avoid unnecessary losses as well gives the hope to win and stay away from addiction.
Once people addict to gambling, it is tough to overcome that addiction. We can give them free suggestions but to follow that advice is very tough for addicted gamblers. But they don't have another choice they must follow these methods like stop gambling or avoid big amount betting then only they can save their money.


Title: Re: How to gamble the right way
Post by: klf on February 22, 2017, 12:43:36 PM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
Every one already told that gambling must not be greedy but everyone are greed to wealth and earn that fast without knowing the risk Actually yes it is not good to play with greedy way but this is the only way to earn money as fast as easy counting 123 self discipline is not actually accurate with our self if we lose then we lose just accept it.

Agreed, actually, we are greedy to earn money in a short way, and in this way, gambling is a right way, to earn fast. But in fact it is a way to lose the amount too fast. But every gambler play gambling with a dream that may be he win and if he win than definitely we earn very fast, and also mostly gamblers like to take a risk from gambling.
as long as you didn't make it as source of income then take a risk in gambling for one time or twice it's fine, but the problem are when mostly people hooked to keep playing once they have experienced a nice winning. that was the beginning of addiction and greed. then gambling turn into something not right.
That's true. Even at those instance users need to be active to overcome the greed and make the right move. Can quit it for a short or can make a pause to big betting. This helps the user avoid unnecessary losses as well gives the hope to win and stay away from addiction.
Once people addict to gambling, it is tough to overcome that addiction. We can give them free suggestions but to follow that advice is very tough for addicted gamblers. But they don't have another choice they must follow these methods like stop gambling or avoid big amount betting then only they can save their money.

As long as addicted people decide that they want to come out of these habits then surely they will find many ways to come out. But if someone is forcing them to come out of gambling then no way can get out instead they will find many ways to gamble. So if they decide not to gamble, then they can try to spend more time with family and friends in outdoor activities until they forget about these gambling games.


Title: Re: How to gamble the right way
Post by: BlockEye on February 22, 2017, 01:40:34 PM
To gamble in proper way you must not be greedy. Greediness always results to failure and that is not good for anyone. You must know how to control yourself and know when to stop. If you have this discipline you can gain profit from gambling and minimize of losing from it.
Every one already told that gambling must not be greedy but everyone are greed to wealth and earn that fast without knowing the risk Actually yes it is not good to play with greedy way but this is the only way to earn money as fast as easy counting 123 self discipline is not actually accurate with our self if we lose then we lose just accept it.

Agreed, actually, we are greedy to earn money in a short way, and in this way, gambling is a right way, to earn fast. But in fact it is a way to lose the amount too fast. But every gambler play gambling with a dream that may be he win and if he win than definitely we earn very fast, and also mostly gamblers like to take a risk from gambling.
as long as you didn't make it as source of income then take a risk in gambling for one time or twice it's fine, but the problem are when mostly people hooked to keep playing once they have experienced a nice winning. that was the beginning of addiction and greed. then gambling turn into something not right.
That's true. Even at those instance users need to be active to overcome the greed and make the right move. Can quit it for a short or can make a pause to big betting. This helps the user avoid unnecessary losses as well gives the hope to win and stay away from addiction.
Once people addict to gambling, it is tough to overcome that addiction. We can give them free suggestions but to follow that advice is very tough for addicted gamblers. But they don't have another choice they must follow these methods like stop gambling or avoid big amount betting then only they can save their money.

As long as addicted people decide that they want to come out of these habits then surely they will find many ways to come out. But if someone is forcing them to come out of gambling then no way can get out instead they will find many ways to gamble. So if they decide not to gamble, then they can try to spend more time with family and friends in outdoor activities until they forget about these gambling games.

to be able to get away from gambling. We must have another thing to get busy too like having a stable job, a new sports activity or more bonding in family. No one can get us away from it, it is our will and obligation to do so if we get too attached in gambling and forgot things that matter most.