A lot of people in this section do not understand basic gambling concepts.

[Fivestar4everMVP]

As House Edge or Expected Value.

What percentage do you think they are?

It's hard to get an estimate right but I'd say it's pretty high, like more than 50% of those who write here. So it is understandable that every now and then we are seeing threads about someone who believes he has found a new variant of the Martingale with which he is going to beat the house.

There are also those who think that if in a site with an HE of 2% if for your VIP status they reduce their HE by 10%, they are giving them a negative HE (or a positive Expected Value) of 8%, instead of realizing that what they have reduced is the original HE from 2% to 1.8%.

Many have some idea of the concepts and use them to write here to meet their quota but do not really understand them.

Let me say that you right, but like you said, it's very understandable why.

Like I think I've once mentioned in one of my comments on this board, I said it boldly that, if not that majorly all the casino signature ad campaigns on this forum makes it mandatory for their participants to make atleast, 10 post on this gambling board, many users would never bother posting here since like you said, they know nothing about gambling totally, I've come across some users posting on this board whom after reading their comment, I concluded in my mind that this ones are not gamblers, but are pretending to be.

While on the other hand as well, I also think we also have some users who actually do gamble, but still lack some basic knowledge of how things really work, it's like knowing  how to drive a car, that is, being a very good driver, but lack the basic knowledge of how the car engine functions mechanically - I think I full in this category, since I don't really understand everything about gambling, but I do gamble from time to time.

[Kemarit]

I guess gamblers know the basic concept, but what you put is not basic though, IMHO.

And as a gambler, do you really need to go to all of this and make it complicated? I don't think so, the moment they play, they just look to win regardless of what the house edge or expected value is.

So don't blame the gamblers, here, and no matter what kind of explanation we will give to them, they will not or will ignore this concept and just play, have some fun, and take the lost.

[Zoomic]

The casino is not a charity organization donating free money to random people who visit the casino, it is a business! Casino operators are not dumb, they have already structured their businesses in such a way that profits comes in always. Some gamblers might doubt this but believe me, no gambler earns more than the casino.  You might be winning now and feeling you are getting from the casino, but if you look at it very well, you will realise that you've lost more than you earned, the house always has an edge over the players.

I guess gamblers know the basic concept, but what you put is not basic though, IMHO.

And as a gambler, do you really need to go to all of this and make it complicated? I don't think so, the moment they play, they just look to win regardless of what the house edge or expected value is.

So don't blame the gamblers, here, and no matter what kind of explanation we will give to them, they will not or will ignore this concept and just play, have some fun, and take the lost.

Haha , we just want to win and go our way, it doesn't really matter whether the house earns from it also. But, I think it is still necessary for gamblers to know about this and apply it in their daily gambling lives. The more they gamble, the more they enrich the casinos. This could help those who are conscious of this gamble moderately.

[Yatsan]

I doubt actually. Many people are aware of basic gambling concept but it is just gamblers who are not having enough  discipline to keep such idea in mind. No one requires us to gamble our money in the first place whether it is concerning house edge or not. Knowing or not knowing this fact about house edge won't stop a gambler from betting. They have bigger drives making their money bigger will always be on top of these disadvantages to them.

I'm very sure that no player is privileged enough to surpass the house edge set by the casinos. No matter if that person reaches highest VIP status, the house edge will still be there and it won't be easy for him/her to overcome the losses that happen because of the house edge.

Casinos make money because of the house edge that they set and if they drop it to 0.5% or below than that then most players will have consistent wins and I'm 100% sure that if something like that happens then all casinos will be bankrupt and they will have nothing in their bankroll to pay the winners.

Definitely. And the idea is simply because online casinos are a form of business. You are embracing the risk to win your bet but a casino platform will always be winning not against you but with the services itself. You win, they will have profit, and same goes with when you are losing.
Many people are thinking that everytime they bet they are going against the casino but in reality they are just going against their fate and luck.

[AmoreJaz]

I guess gamblers know the basic concept, but what you put is not basic though, IMHO.

And as a gambler, do you really need to go to all of this and make it complicated? I don't think so, the moment they play, they just look to win regardless of what the house edge or expected value is.

So don't blame the gamblers, here, and no matter what kind of explanation we will give to them, they will not or will ignore this concept and just play, have some fun, and take the lost.

Most of them don't care about the HE. That is true, what they are after is if they can win or not. But there are few gamblers here that are very keen on HE, creating threads on how you can check or get the info relating to HE of every game inside the casino. Well, that's not bad at all. At least, inform the gamblers about the game itself, as most games have varying HE.

You will rarely see a gambler that will ask for HE of the game. That is true, most of them just plunge in and play. So they don't worry about the house edge of the game, but more on the provable fairness of the game.

[Poker Player]

It’s weird to see people in this section do not understand the basic concept about gambling and yet they are still here posting their comments. I don’t think we have the right to judge them as they are here for a reason and when we say basic it’s very simple not to understand. The moment you make a reply here, for me that’s already a good basic knowledge where you don’t have to be a professional gambler as many here are just an occasional gambler.

Yeah, well, but if you're a casual gambler and don't understand the concepts you'd better not talk about them.

I guess gamblers know the basic concept, but what you put is not basic though, IMHO.

And as a gambler, do you really need to go to all of this and make it complicated? I don't think so, the moment they play, they just look to win regardless of what the house edge or expected value is.

Is it that complicated, though? Something like being clear about the difference between long term and short term and understanding that if the HE is 2%, for every $100 bet, the long term return is going to be $98.

Or realize that casinos are not charities as Zoomic has said, and that if with bonuses and rakeback they are reducing your HE by 10%, it is not that you are going to win 8%, but that on the initial HE they are reducing 10% and it becomes 1.8%.

[davis196]

As House Edge or Expected Value.

What percentage do you think they are?

It's hard to get an estimate right but I'd say it's pretty high, like more than 50% of those who write here. So it is understandable that every now and then we are seeing threads about someone who believes he has found a new variant of the Martingale with which he is going to beat the house.

There are also those who think that if in a site with an HE of 2% if for your VIP status they reduce their HE by 10%, they are giving them a negative HE (or a positive Expected Value) of 8%, instead of realizing that what they have reduced is the original HE from 2% to 1.8%.

Many have some idea of the concepts and use them to write here to meet their quota but do not really understand them.

I don't see any posts about martingale in the Gambling forum right now. There were many posts about martingale several years ago.
Most gamblers aren't high IQ so it's kinda normal for them to seek some magical "gambling strategy" that will bring them consistent profits.
A decent IQ level is also required to understand that 10% out of 2% is 0.2%. Maybe some people have skipped Math classes in their teenage years.

[Wexnident]

~

I do suppose you don't really need to understand them in a sense? I mean understanding them doesn't really change anything, you'd just be aware of how much they're stealing from you but other than that, you'd still be playing all the same imo. Personally, that's how I'd value the knowledge that's on a similar level to House Edge. I actually don't think I know everything about all the gambling-related stuff to be fair though. Gotta agree that they should at least know that casinos aren't their friends though.

And isn't the 2nd example just a math problem? At least from how I see it you don't necessarily need the idea of what HE is.

[darewaller]

In many gambling sites, they always unveil the House edge in each of their games. The 50% you are telling seems not a house edge anymore but it's like the winning chance already or the odds. There is also what we called as RTP that are mainly found in Slot games and they are usually estimated at over 90%. Even when we set our winning chance to the highest possible level, there will always be times that we will get defeated by the casino because they are designed for this, to profit.

If we will always think about this, we will easily ignore those who said that they have found a way to beat the casino but except only if those are a kind of hacks and exploits. We must still not get involved with it because it is not morally correct. Never came across a casino that are like that, that reduced the HE according to our VIP status. That's crazy and it may still not worth the chase.


What I have observed these days among gamblers in this forum is, not fully understanding about sportsbetting odds or not switching to a house for better odds by simply sticking with same house and betting for lower profits even after someone notifying about better chances for more profits.