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1381  Economy / Gambling discussion / Re: How the casino takes money from you with a deposit bonus on: June 19, 2023, 01:25:50 PM
The best bonus is not to take the bonus if it has a big wager, because it will be -EV (-Expected value). Any casino game is -EV, if you play by the rules of the casino. I will give an example of why you should not take deposit bonuses with a high wager. The casino gives a 100% bonus on the first deposit and wager x40 (D+B) = 200 x40 = 8k, we make a deposit of $100 and they give us another $100 = $200 (wager 200*40=8k). The casino has an average RTP of 96% (percent is different everywhere, depends on slots or house games and so on). For every $100 wagered we get back $96 according to the mathematical expectation (100-96=4), $960 for 1k wager (1000-960=40), $7680 for 8k wager (8000-7680=320). And after the full wagering, we will lose $320 (D+B and also we need more $120), which gives a very large -EV. Who thinks about this and the casinos began to raise the wager.

It's true that all casino games are negative EV for the player and it will be very unlikely for us to win constantly at the games. The longer we play the more likely is it for the casino to win. Which is not guaranteed though, the negative EV means that on average the number of losers at the casino will be higher than the number of winners. That's how the casino makes it money, but it's not a guarantee that there will be only losers. Some gamblers will be lucky and make money. As for your calculation the deposit bonus is only, and with a x40 wager requirement it would mean we need to wager 4k USD. The 96% RTP is not specific, with roulette or a good blackjack strategy we can get higher winning chances. So even with the lower 96% we would have 3840 USD after watering 4k, which would leaves us with 40 from our 100. And let's say we play more optimal with 98% RTP, we would make 20 USD profit. Also most deposit bonuses are 200%. So far k had good experiences with deposit bonuses, just don't focus on instantly chasing out again, eventually you will hit the barrier to withdraw.
You've a hint of truth regarding casino bonuses, yet a deeper grasp of casino math is vital. All games being -EV is, broadly, correct but remember, it's an extended period average. An individual's reality could differ greatly. Your RTP point, around 96%, overlooks a key fact: RTP reflects millions of spins, not one game. So, one could still score a big win short-term, RTP notwithstanding. Moreover, discussing expected losses, wagering requirement and bonus size are key. A smaller requirement could, in theory, make a bonus worthwhile, even with a -EV game.
While there's some truth to your statement, I'm pretty positive that RTP stands and represents well how much your average win will be regardless. The problem with your statement is that it takes into account eventualities that do not happen in average, whereas these guidelines are made to give the gamblers a pretty good picture of how a usual game will go, regardless of how many spins/turns it took for them to come up with that percentage.

Let me ask you this, how many people win massive short-term prizes in slots in one sitting? Do they represent the general public of people who are gambling in slots? Are their results relevant enough to take into account when you're talking about EV and RTP? I don't think so.
1382  Economy / Gambling discussion / Re: Slots 102: The Provably Fair Slots (with poll) on: June 19, 2023, 11:28:44 AM
I love the Play n Go slots with my top slot rated to be the Swords and the Holy Grail.What I love most is the bonus round which falls quite often on the reels in most of my gameplays.It has the beautiful option to collect swords which in turn raise your wild multiplier up to 100x your bet.So far never seen a better slot.
Play n Go all the way. I must say though that their titles although a little redundant and tiresome at times, are a great testament to how trusted they are in the industry. I personally like the Rise of Olympus and have played that game for a couple of hours already, as well as that one Egyptian-themed slot game they also issued that I forgot the name of. Really hoping a new addition could be made within the next few months though, I'm itching to find new provably fair slots again!

Thanks for starting this discussion on provably fair slots! It's crucial to ensure transparency and fairness in online casinos, especially when it comes to slots. Trusting a centralized entity can sometimes be a challenge, so having provably fair slots is a game-changer.
So how is this really going to contribute to the overall health of the discussion? It's like you just gave props and then you walked away without even giving something from your end so people could visit it/avoid it if ever. Of course having provably fair slots are game-changing as it insinuates trust but I think that's already been established from the get-go otherwise these types of games wouldn't take off.
1383  Economy / Gambling discussion / Re: Gender in Gambling [differences between Women and Men in Gambling] on: June 18, 2023, 07:44:50 PM
Quote
Stereotypically, gender is also cited as one of the reasons why people like to gamble. One of the research findings shows that women tend to prefer percentage-odds-based games and men tend to prefer skill-based games.

For example, poker, from a man's point of view is considered a skill-based gamble. While women see it as a game of calculating the odds.

In gambling, generally, women don't like it when others see them lose. Girls probably prefer slot machines because no one sees players win or lose.

Gambling with slot machines is often a personal experience free of guilt or shame. While the men are not like that.

According to research, when a man loses a gamble, there's a machismo attached to him saying, "Yeah, I lost £500, but I can afford it."


And when you win big, guys like it to be exposed right away. Because, they consider this as part of the skill.

This difference in reasons does not necessarily indicate whether men prefer to gamble than women. Women who like to gamble or men who like to gamble are both related to the courage to take risks.

For different reasons, people who like to gamble see it as fun and for reasons that are more complex than just economics.
Read more (use google translate)

Do you think the results of the research above are correct?

I know that the number of women involved in gambling is very small because in some countries, people's views of female gamblers are still very bad and they are considered dirty and unfit to be a wife. maybe the results of this research can be used by gambling business owners in developing their business.

When I first came here where I live now for work some years ago,in a small Western Balkan country I immediately was surprised by the big number of casino places and lotto clubs,they even had a clone name of Caesar Palace which in my honest review they had done it really well with free snacks and drinks as long as you would play a minimum of 20 dollars.

This was one of the big casinos and men were massively playing there however also women came there occasionally and I did not see a big difference in behavior between men and women except men are always more and this is natural,so most likely that research has some truth in it.
Just speaking alone from experience you could really say that  the machismo when it comes to men gambling is really there, but not especially hwne a gambler doesn’t have a big bankroll. In my country. people will probably sweat profusely upo ng losing that much money in one go, but at the same time you’d see them gambling again cause in their heads either a “I can regain those losses anyway” or a “I can afford the loss” is playing which even drives them to gamble more. Not so sure about the behaviors of women in gambling but I can say pretty much that they takena lore relaxed approach with gambling compared to the borderline competitive approach that male gamblers take.
1384  Economy / Gambling discussion / Re: Success or Fail? - Talking about Gambling as a major income on: June 18, 2023, 07:31:35 PM
*sighs* here we go again with people trying to justify gambling as a source of income when they can easily just fill up an application form and get themselves a regular 9-5 that doesn't put their entire savings and their family's future in the line.

First off, are you good at gambling? Do you win more than lose? Do you think you have what it takes to take on the pro scene and be pitted against people who have probably cracked the secrets to the game way before you did? Second, Are you really willing to put your stuff on the line for some strategy you saw on the internet, even worse someone you heard from? I'm not that belligerent and gullible but I sure as hell know people will fall for this kind of crap. I mean there are people who used gambling consultation services lmao.

Gambling is not a form of profit-taking venture. It is an entertainment method that you do when you want to wind out and experience the joy of spending money you don't mind losing. If you think of gambling otherwise, and you're not any of those two I mentioned above then you might wanna ask yourself if you're still sane or something.

1385  Economy / Gambling discussion / Re: Will you find it offensive to be referred to as an addicted gambler? on: June 18, 2023, 07:10:46 PM
Many people find it difficult to accept who they are and the bad habits that they have, accepting a habit is the first step that will determine if any help offered to you will work. As a gambler, will you find it offensive if you are referred to as a gambling addict? will you easily accept it or try to give excuses like some other people do, saying that they are not addicted to gambling when the signs are clearly there. Do you think identifying as an addicted gambler will make people stereotype you. The answer is different for every gambler here.
I don't think the issue of "will they accept the branding" is the issue here. The problem is accepting that they have a problem, the branding comes after that. Of course gamblers, addicted or not, will have a negative reaction when you call them addicted gamblers, most especially if you mean the branding. But a responsible gambler will not carry on with his shit upon hearing something like that, he'd assess himself, and would most likely takea break, most definitely a gambler that's spiraled into addiction will see this as something offensive, rant about it/bitch about it elsewhere, and then carry on with his/her unhealthy practices. It's all about self-awareness and the willingness to see the picture from a different angle. Addicted gamblers will have a one-track mind dedicated solely for gambling so you can't reason with them even if your life depended on it, the more desperate they are the harder it will be to convince them they are addicted too. So yeah, to me it's not about if they are offended about being called that, it's about what they do after that matters most.
1386  Economy / Gambling discussion / Re: I think topics/discussion on gambling addictions is too much on: June 18, 2023, 06:05:40 PM
This!

I've been saying it again and again. Gambling addiction stories are just tiresome to read and do not really contribute anything to the very topic itself, especially since a lot of the people who reported experiencing it gambles back anyway instead of actually seeking professional help like a regular human being. I get it, it needs to be magnified and more people should hear from it but most of the time it's just people ranting about their gambling losses, and then throwing deprecating shit at the bottom of their walls of text along the lines of "don't be like me" or "Don't fall for gambling addiction". Like of course, duh.

I think a mega-thread that could be propped up every now and again is more than enough to ensure that the discussion is still open and people can still talk about it, but I would highly suggest we include stuff like the suicide-hotline as well as contacts for institutions of rehabilitation that would come in handy for people who needs intervention.
1387  Economy / Gambling discussion / Re: How the casino takes money from you with a deposit bonus on: June 18, 2023, 05:54:27 PM
Deposit bonuses are a death trap.

You put in money hoping you'd get something more out of it until you realize that the money you got from them will be spent on their games and in turn return to their pockets anyway, nobody has been able to cheat at this system so far (AFAIK, let me know if there's someone and have him share his strat to let other people know of it as well because this type of borderline scamming is just god awful) since it centers around the casino itself, so the best way to win the game is to really not play it. There are casinos who still do this to this day cause there's market for people who are gullible enough to believe in this shenanigan. In any case, just don't look for bonuses when you play in a casino. That should do it really.
1388  Economy / Gambling discussion / Re: $500k parlay win $0 withdrawal on: June 18, 2023, 04:24:50 PM
Could’ve cashed out nearly 500k but I wanted to make 1m  Undecided



I always seem to throw it all back on stuff I’m not confident in, or I play casino and lose it all.

I would consider myself a sharp soccer  bettor but I’m unable to withdraw. If someone out there wants to follow my bets feel free to contact me. If I can’t withdraw maybe you can.

Telegram: Ra3WasHere
You again Napkins! Been following your stuff for quite a while now ever since you posted that 90k win you got from a 4k bankroll. I would be lying if I say I wanna have what you're on that gives you these sharp bets that bag you so much money but oh well.

It seems like you're doing this for fun and the losses are just aftereffects from losing so much potential money so I think you're good and all that. There's a saturation of "don't succumb to gambling addiction" posts here already and I don't want to add up to them. Anywho, good luck on your future bets man and I hope you know your limits and all that so you could bag wins like these.
1389  Economy / Gambling discussion / Re: would you play more on casino when your country plans to ban BTC? on: June 16, 2023, 06:11:25 PM
I'm going to keep playing, but not for the reasons you laid down in your post. I'll keep on playing cause I want to play and gamble and not because I wanted some other way for my coins to accumulate if bitcoin were to be banned in my country. Besides, and this may stray off the point of your post but it's something that holds a lot of truth nowadays, online gambling will have a higher chance of getting banned in my country over bitcoin, and US is not the only country in the world (seeing as most issues and flak against bitcoin and cryptocurrency comes from the SEC which is in US). So with that being said, bitcoin getting banned shouldn't be the biggest concern here, or what to do with your bitcoin if it were to be banned in your country. Remember, it's decentralized and indifferent when it comes to territories, you could pretty much use it even if your country bans it. Gambling in all its forms is threatened.
1390  Economy / Gambling discussion / Re: Easy or hard to quit? on: June 15, 2023, 05:43:25 PM
Can you quit gambling if you make a life changing money and never go back to gambling?

I asked this because those who made some money through gambling near me always go back to gamble and they end up losing everything they once made through gambling.

Is it fine to say that people should not go back into gambling once they made high amount of money? Because the chance of losing that money again is very high, even if they don't use all the money to gamble at once, gambling can take it all back in time.

Have you ever won a high amount of money from gambling and managed to not lose them all back to gambling? And to date, you are still gambling?
People have made bets, won big, and have quit on gambling. It all boils down on whether you know what you're signing up for and you're cunning enough to not fall for death traps laid by the game. Most people who are none the wiser in the industry falls victim on the gambling cycle, where they win big, bet big, lose big, and then repeat the cycle over and over again. At which point they're at a massive loss with a deteriorated life and a financial situation more screwed than you'd ever think.

Some people on the other hand, armed with financial literacy and rid of their heuristics and biases end up gaining massive wins and keeping them for a very long time, sometimes even passing them off to relatives when they die like some legendary gamblers that we know of. It's definitely possible and it's something that I personally advocate for, but if you're gambling for entertainment and winnings aren't really your concern since you know yourself and your limits then by all means!
1391  Economy / Gambling discussion / Re: How to Improve Your Sports Betting Skills and Win More Bets? on: June 15, 2023, 12:08:05 AM
 Don't necessarily agree with "becoming a legend" cause you'll be surprised with how less of a skill it takes to actually win in gambling even in games that are not solely based on chance. Even more so with sports betting as most of the time it's either each team is on par with each other or one of them is tipping the scales in their favor. so to be legendary is something that you shouldn't strive for only because it takes so much effort to get into the upper echelons of everything basically. So if you just wanted some form of edge for when you're gambling so you don't fumble over which team to choose and which to avoid, at least having some form of basic gambling knowledge, and a deeper-than-average know-what of each team's weaknesses and strengths.
1392  Economy / Gambling discussion / Re: Is There A Time That You Calculated All Your loses In One Year on: June 14, 2023, 04:27:06 PM
I did, not only to put into perspective how much I'm spending on a bankroll, but to also think of strategies and ways to make such bankroll lower and still play fulfilling and satisfying games. Thus far it has helped me immensely in redirecting necessary cashflow into something else that's much important than gambling and had even helped me discipline myself and control gambling urges at times, especially if you've set a limit on your bankroll like me (as high as $5k per year).

It's something that I would like to advocate every people do, as it doesn't take no mathematical genius to figure things out, plus it's really helpful in the abovementioned pointers I mentioned. Counting your losses isn't you gaslighting and manipulating yourself into building guilt from losing that much money in gambling, it only really opens your eyes to the perspective that you have to see the most which is how much has gambling taken over your life.
1393  Economy / Gambling discussion / Re: Why People Still Gamble? on: June 12, 2023, 07:54:01 PM
Uhh, cause why not?

All these allegations you say about gambling are either misleading, or misdirected. Most of these "allegations" as you put it are nothing but down-on-their-luck gamblers throwing their whole bankroll in one go cause they're just belligerent like that. Sure there's downsides to gambling but if you're willing to take that stretch I'd say there's a cons to everything in life too! Why should it be that only gambling is to take the short end of the stick considering there are even more worse things out there that needs more focusing?

Plus all in all, gambling is nothing but a form of entertainment, people overlook that and see the gold pot at the end of the rainbow, which leads them to gamble for profit, and then leading to them losing their money to gambling and them blaming gambling for drying out their wallets. Which in the first place is of their own volition anyway and gambling's not in any way whatsoever related to their decision to spend that money up.

All I'm saying is, gambling is great in itself. As a form of entertainment it offers rest and relaxation, but if you think of it the wrong way and see it as another way to earn profits then that's where the problem comes in, and in my opinion in that kind of setting it's not gambling that needs to be stopped but the gambler itself.
1394  Economy / Economics / Re: Social media, now looking more for business than for socializing. on: June 12, 2023, 07:08:08 PM
That comes with letting enterprises in and allowing them to use it as a means to advertise themselves to more people. Way back when social media was small the whole business world dismissed of it and saw it as nothing but a different way for people to communicate, now with all these features being added to better communicate with other people, analysts and other smart people that work for these businesses saw this as an opportunity to market their product digitally. Things escalated from there and now we got 2 unskippable ads on youtube which I seriously abhor.

This is not a good thing, but with profit taken into consideration I don't think this system will change. with web3 this could be lessened but that venture would just be another way for advertisers to riddle our screens with product placements for sure. That's just the way things go now I guess.
1395  Bitcoin / Bitcoin Discussion / Re: Interview candidates needed for academic research on wrench attacks on: June 12, 2023, 06:26:31 PM
My colleagues and I are analysing cryptocurrency related “wrench attacks” (physical attacks or threats targeted at cryptocurrency owners) for an academic project.

One of our objectives is to understand the dynamics of these attacks and therefore we are interested in interviewing cryptocurrency owners that are familiar or have been exposed to these attacks. Would any of you be interested in being interviewed as part of our research or do you know someone who would like to be interviewed?

Please dm me if you are interested so I can provide more information about the interview schedule and the measures we are taking to ensure confidentiality of our research participants.

Thanks in advance!
I'm quite interested in participating for this little research project of yours. I've been a victim of this once (although I don't think the attack is specifically targeted to me but is more likely a copy-pasted script that was sent to other countless people in the industry), and me being the snotty-nosed crypto newbie that I am back then, I kind of fell for it for a while, pressing on the link they sent and answering questions that they prepared for me "or else they will take control of my account" and "collect every asset I deposited there for evidence" lmao. I'd be more than happy to expound on this if you'd count me in as one of your participants as I think wrench and coordinated attacks from scammers in this industry are more common than what people are led to think, but it's talked about so little in favor of the more sensational attacks that would catch the people's eye in the headlines.
1396  Bitcoin / Bitcoin Discussion / Re: We shall separate commercial exchanges from investment exchanges on: June 12, 2023, 05:52:24 PM
I get what you're trying to put up here and for a while that has been the case with basically everything that could be traded in the market. A separate platform for exchange, and a separate one for investments. But there is a definitive reason as to why these two were merged into one eventually, and one of which is convenience, which is inarguably one of the best features one can offer as a platform.

"You entrust your money with us when you deposit the money you want to trade for other commodities, so why not cut the middle man, let you keep the fees you're going to pay for investing your money on a different platform, and just entrust it with us? That way you can conveniently manage all your tradings and holdings at the same time!" Is basically what happened in the past that led to this moment. Don't get us wrong, it is a system that is far from perfect, considering the numerous backlashes it has received over the years following the scandals that came up left and right, but it is a system that is welcomed by many and is a necessary one at that too. So as much as you hate the current paradigm, there's going to have to be some major shift in the convenience department of things before you could convince people and business entities in this industry to separate these two.
1397  Bitcoin / Bitcoin Discussion / Re: BITCOIN SUPPLY LIMIT on: June 12, 2023, 05:16:07 PM
As we all know BITCOIN mining will stop once the 21 million mark is reached. According to the information we have 19 millions coins were mined and now circulating. The remaining balance is about 2 millions to be mined. Why it is not possible to mine the remaining BITCOINS before 2140 when the 19 millions mined in just over 10 years?
Mining won't stop when all bitcoins are discovered and mined. These "miners" facilitate transactions as well and the fees we pay the network actually goes to their pockets, so with that being said the mining industry won't necessarily go out of business when all bitcoins are mined. They'd just be redirecting their focus on something else.

As for why it's going to take time before all bitcoins are mined, one thing that you have to keep in mind is that the difficulty for earning bitcoins through mining isn't linear. It's exponential. What took a few minutes/hours for people back in 2011, is now taking weeks and months for powerful asic miners of this day, I don't wanna delve into the maths of it and the complicated tech jargon but basically picture this:

You have the whole planet (internet) to mine gold on (bitcoin), as more and more gold are mined from the land, the less the supply is, and the harder it becomes to mine and earn the remaining gold in the Earth cause the area you have to work with didn't get smaller as you're mining more gold, it became bigger and thus more land (blocks) must be mined in order to find gold. That is basically how it works for the bitcoin mining industry.
1398  Bitcoin / Bitcoin Discussion / Re: Stake platform on: June 11, 2023, 11:42:46 PM
I read some news about this platform. https://business-magazine.biz/2023/06/04/the-legendary-mircea-popescu/ So i decided to find some info on that platform: www.spencer-invest.com It seems they offer a really good % on staking. Do you ever used it? I am thinking to put 1 btc on their platform, but not before I get some advice from someone who used it already.
Thank you.
Literally the free candy van of cryptocurrency. Don't put your money on it, unless you want to give the belligerent scammer who made this a free 1 bitcoin for nothing. Although considering the age of your account I'm not sure if you're here looking for real advice or if you're here to spread this and hopefully get someone stupid enough to put their money here.
I read some news about this platform. https://business-magazine.biz/2023/06/04/the-legendary-mircea-popescu/ So i decided to find some info on that platform: www.spencer-invest.com It seems they offer a really good % on staking. Do you ever used it? I am thinking to put 1 btc on their platform, but not before I get some advice from someone who used it already.
Thank you.
I suspected that the site is fraudulent when the article in the business-magazine came up with stories that introduced the investment scheme as a get-rich-quick scheme. From my observation, the staking platform spencer-invest looks like a total scam project. They claim that they use crypto trading bots to make a profit from the crypto industry. They are also promising a return on investment of up to 20% which will affect the sustainability of the business. The site will suddenly come up with a notification that shows people transactions such as withdrawals, deposits, or referrals. The website is ideally built to spur people to invest. I will not advise anyone to put his money on this platform because it might end in regret. How can they guarantee a filed amount of profit in a highly unpredictable sector?
Massive red flag for me. I visited the site for myself and it's literally the textbook definition of the modern internet scam with text dialogs telling people that someone withdrew money so they can be put at ease or something lmao. I'd definitely not put my money in this "staking" site of yours. Much of these is just too good to be true. High yields with no profit coming back for the company to sustain itself? It's either you're Elon Musk for being this rich, or you're just stirring up some scam by promising stuff that we most definitely know wouldn't be true.
1399  Economy / Economics / Re: Money is never enough! on: June 11, 2023, 11:03:26 PM
Maybe you've heard about lottery winners with jackpots that get up to hundreds of thousands of dollars and some even touch millions of dollars, they become arrogant because they buy whatever they want because they have a lot in their pocket, but in a few years the person is far poor again after do not use their money properly, then money that is never enough is for people who are greedy and can have control over their management.

As for the oil dealer, then it will deal with politics/government whereas for me politics is cruel with every big opportunity he will enter and reap the money, so it's no wonder there will be a power struggle and whoever is tough will win.
I don't know whether the oil source is owned by someone or the government because of political power, this is a struggle.
There's actually a study about this, and it has been a known fact ever since. Lottery winners never earn their happiness even after winning millions of dollars, so they resort to lavish spending. Add to this the fact that they are none the wiser when it comes to properly managing their investments and finances, and we have winners with no money left on their bank accounts resorting to their day jobs in just a few years time. Saddening fact but it's just a testament to how important knowing your limits and exerting financial literacy is.

Also, as for the oil dealer guy, he must've known right from the first loss that he will not be able to bag a win. That's the way things go. People don't usually vote for the someone who lost from previous elections and thus rejoining the coming ones won't mean much and would just be an outright waste of money.
1400  Economy / Economics / Re: My wealth plan for next 3 years on: June 11, 2023, 10:07:03 PM
I will invest in btc,gold,silver becouse money is now expensive so when i borrow now the bull run Will make profit i make profit and from the profit i make money for myself and i can Pay the % to lender.


As an economist, I don't think you really map out your plans very well; all I could possibly imagine from the few things I understood from your content is more debt. Borrowing money to invest in crypto currency without having a primary source of income is something that's highly discouraged because it can endanger you and put you into more debt. When doing your calculation, did you not look at the negative side of investment? Your analysis is actually not complete if you don't do a proper calculation of risk.

How long do you actually think that the person who lends you the money can wait for you to pay it back without you incurring more debt to your head, and the lender might actually sell off your collateral if you don't meet up and become a loan defaulter?
I will sincerely advise you never to take a loan from anyone just to invest in crypto currency with the hope of paying it back with your profit made from the investment. It's actually a very bad investment strategy; it might work for others, but the chances of it failing for you are very high.
Amen brother. I get that there's risk in everything and the thing that sets rich people from those who are not is who takes more risks, but at the same time you have to also remember that the risks they took were calculated, this Shortmaster is nothing but a recipe for disaster. I always advocate for making sure that you chew what you can bite, and this is just not it good sir. You're not only taking risks by investing on a volatile asset that could zero you out on a bad day, but you're also investing on it with money that in essence does not belong to you. You plan to succeed which is great and all but it seems to me that you never planned for anything that could go wrong.

Go back to the drawing board, find a better way to make use of that loan you wanna take, and then follow through with it. Just don't invest money you can't afford to lose.
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