My Journey: Can I Win Gambling?

[tjh11]

I appreciate your opinion, but I want to assure you that I know that stopping and leaving doesn't change the house odds.  Thanks!

But...but...you JUST SAID:

I think that while the majority of online casinos let you win at first, I also think it depends on how the casino is doing at the time you make your deposit. So if someone just won half the casino's bankroll, then chances are the casino isn't going to let yout win at all. They need to get their money back. So I think one thing to look out for on dice sites is how their profit is doing.

I also think whether or not the online casinos let you win at first depends on how much you deposit.

So either you DO think that starting and stopping changes the house odds, which is a theory you put forth a few hours ago, or you don't think that starting and stopping changes the house odds, which you just said now and you are starting and stopping because...OCD?

If I'm playing at a live casino, then starting and stopping doesn't change the house odds.  But if I'm playing at an online bitcoin casino, in my opinion, starting and stopping will help my chances of winning.

Thanks for calling me on that. Sorry for the misunderstanding.

[1714630631]

1714630631

[tjh11]

Hey,

I don't plan on making it a job, but I will treat it as a job because I will be disciplined and know when to walk away.

Thanks!

I've heard it alot and this is what a gambler will say before he start profitting in a gambling sites. It is hard to block the temptation of getting more profit in a gambling sites. If you would be able to discplined this whole time then you wouldnt lose a single penny in the gambling sites but you lost quite a bit already

I would estimate I've lost 5 or 6 BTC in the past year or so gambling with bitcoin.

I understand I lost a lot already. I wasn't disciplined then. This whole journey is about me being disciplined and making profit. Just keep your eye on me and see how I do.

Too bad that it is now that you realized that you need to be discipline in a gambling sites but it is never too late to start again. Although you should realized that even if you stay discipline, you cant always get a profit if you hit the bad streak while playing. So goodluck and I will be watching your journey

Hey, thanks for your kind words!  You're right, its never too late to start again at anything, including being disciplined while gambling.

Keep watching me, and feel free to comment on the thread anytime.

Thanks again!

[chriswen]

I appreciate your opinion, but I want to assure you that I know that stopping and leaving doesn't change the house odds.  Thanks!

But...but...you JUST SAID:

I think that while the majority of online casinos let you win at first, I also think it depends on how the casino is doing at the time you make your deposit. So if someone just won half the casino's bankroll, then chances are the casino isn't going to let yout win at all. They need to get their money back. So I think one thing to look out for on dice sites is how their profit is doing.

I also think whether or not the online casinos let you win at first depends on how much you deposit.

So either you DO think that starting and stopping changes the house odds, which is a theory you put forth a few hours ago, or you don't think that starting and stopping changes the house odds, which you just said now and you are starting and stopping because...OCD?

If I'm playing at a live casino, then starting and stopping doesn't change the house odds.  But if I'm playing at an online bitcoin casino, in my opinion, starting and stopping will help my chances of winning.

Thanks for calling me on that. Sorry for the misunderstanding.

yeah that sort of depends which casino you're at.  I'm not sure how prevalent changing the odds is.

[Dabs]

Try out some of those casinos with low house edge, has rakeback, and has a faucet bonus. (ok ok, i'm talking about mine, but hey, good luck and have fun!)

[tjh11]

I appreciate your opinion, but I want to assure you that I know that stopping and leaving doesn't change the house odds.  Thanks!

But...but...you JUST SAID:

I think that while the majority of online casinos let you win at first, I also think it depends on how the casino is doing at the time you make your deposit. So if someone just won half the casino's bankroll, then chances are the casino isn't going to let yout win at all. They need to get their money back. So I think one thing to look out for on dice sites is how their profit is doing.

I also think whether or not the online casinos let you win at first depends on how much you deposit.

So either you DO think that starting and stopping changes the house odds, which is a theory you put forth a few hours ago, or you don't think that starting and stopping changes the house odds, which you just said now and you are starting and stopping because...OCD?

If I'm playing at a live casino, then starting and stopping doesn't change the house odds.  But if I'm playing at an online bitcoin casino, in my opinion, starting and stopping will help my chances of winning.

Thanks for calling me on that. Sorry for the misunderstanding.

yeah that sort of depends which casino you're at.  I'm not sure how prevalent changing the odds is.

I think most bitcoin casinos let you win at first, but I agree, I'm not sure how much the odds change when you are a new player.

[BitBatFan]

Wish you all the best and to recover your losses. It's hard to control emotions when gambling...when you're ahead, you want more. But when you're loosing you want to recover your loss.
People are strange 

[tjh11]

Wish you all the best and to recover your losses. It's hard to control emotions when gambling...when you're ahead, you want more. But when you're loosing you want to recover your loss.
People are strange 

You're right. It is hard to control your emotions while gambling, especially with bitcoin dice sites online. I saw a study about slot machines, and apparently it's easier to get addicted to slot machines because the result comes so quickly.  With these bitcoin dice sites, even if their rolls take a couple seconds, its still an extremely quick result, definitely more so then playing live roulette or blackjack.  That's why more people are addicted to slot machines, (and now bitcoin dice sites) then table games like blackjack or roulette.

However, it is completely possible to control your emotions while gambling, even though almost no one does. It is also 100% possible to be disciplined while gambling. That's what I'm going for here: basically the whole point of my journey, other than making profit, is to be disciplined and control my emotions while gambling, which will ultimately lead to a successful journey.

Thanks for your input!

[tjh11]

Try out some of those casinos with low house edge, has rakeback, and has a faucet bonus. (ok ok, i'm talking about mine, but hey, good luck and have fun!)

Hey, thanks for the kind words! Your casino is 64blocks.com, right? Is it like a regular dice site? I've heard of it, just never played there.

I visited 64blocks.com and was kind of confused. Is there anywhere I can learn how to play?

Thanks!

[Ingatqhvq]

Most of people lost in gambling site, that's very usually.
So i play gambling just for fun, never lost too much i can't afford and also never expect win too much. So i know when is leaving.

[jacktheking]

Good to see that someone is actually posting his or her journey here. If you win, Bitcoin will attract new investors. If you lose, you might be able to stop people from gambling. Been posting on this forums for Bitcoin.. I dont even have 0.4 Bitcoin yet.

[tjh11]

Most of people lost in gambling site, that's very usually.
So i play gambling just for fun, never lost too much i can't afford and also never expect win too much. So i know when is leaving.

Yes, most people lose. But as I stated in the original post, if everyone who walked into a casino left when they were up, even by just 1 unit, the casinos would be completely broke and out of business. Think about it: if you go into a casino with $500, bet $5 on an even chance roulette bet, and then win, and leave the casino, you've taken $5 out of the casinos bankroll.  I don't know about you, but I would much rather win $5 then lose $500.

Thanks for posting on this thread with a constructive comment!

[tjh11]

Good to see that someone is actually posting his or her journey here. If you win, Bitcoin will attract new investors. If you lose, you might be able to stop people from gambling. Been posting on this forums for Bitcoin.. I dont even have 0.4 Bitcoin yet.

Hey, thanks for posting something nice. It's good to see that people have constructive things to say about this journey that I'm embarking on.

[CryForMeSky]

Yes, most people lose. But as I stated in the original post, if everyone who walked into a casino left when they were up, even by just 1 unit, the casinos would be completely broke and out of business. Think about it: if you go into a casino with $500, bet $5 on an even chance roulette bet, and then win, and leave the casino, you've taken $5 out of the casinos bankroll.  I don't know about you, but I would much rather win $5 then lose $500.

But for every 49 people who show up, win $5, and leave, there are 51 people who show up and lose $5.  Casinos don't go broke by people betting on -ev spots.  Likewise, a person who goes in once a day and bets $5 and leaves will eventually lose all of their money.

[tjh11]

Yes, most people lose. But as I stated in the original post, if everyone who walked into a casino left when they were up, even by just 1 unit, the casinos would be completely broke and out of business. Think about it: if you go into a casino with $500, bet $5 on an even chance roulette bet, and then win, and leave the casino, you've taken $5 out of the casinos bankroll.  I don't know about you, but I would much rather win $5 then lose $500.

But for every 49 people who show up, win $5, and leave, there are 51 people who show up and lose $5.  Casinos don't go broke by people betting on -ev spots.  Likewise, a person who goes in once a day and bets $5 and leaves will eventually lose all of their money.

I understand that for every 49 people who win, there are 51 who don't.  But I think you're missing my point. At one point or another, chances are at least a few of those 51 people who lost were up. If they had walked away when they were ahead, the casinos would be out of business.

I get that there is math involved in this, all the games are -ev, etc etc…however, I don't know how you can argue that the casinos would still be in business if everyone who walked through their doors left when they were up.

Keep in mind that not everyone who goes into a casino goes in everyday, week, month or year. In fact, a lot of people who go into casinos only go a few times in their life, so if they only plan on winning $5 or $10, they could easily come out ahead in their lifetime.

But forget about all the folks who don't walk away when they're up, this is MY journey, and I'm going to be disciplined and walk away when I'm up. All I ask from you is that you continue watching this thread, and see how I do.

[ipbo]

Outside of gambling, chance is more commonly referred to in percentage terms. If you toss a coin then there is a 50% chance of it landing on heads and a 50% chance of tails. All possible outcomes in any "GAMBLING DICE".

[Dabs]

Try out some of those casinos with low house edge, has rakeback, and has a faucet bonus. (ok ok, i'm talking about mine, but hey, good luck and have fun!)

Hey, thanks for the kind words! Your casino is 64blocks.com, right? Is it like a regular dice site? I've heard of it, just never played there.

I visited 64blocks.com and was kind of confused. Is there anywhere I can learn how to play?

Thanks!

There is a small help tab on the main screen.

[WEBcreator]

Can I suggest buying or investing in a casino? I say this because no mater how you look at it the odds are you will lose. It is the most likely outcome for a gambler. If you had a cut of the casino's action then the odds are in your favor and you will most likely gain money.
I know it's not as fun as blackjack, but at the end of a day when you are counting your money you may be happier.

Best of luck!

Hey,
I appreciate your support and advice. Unfortunately, I'm in the US, so I can't run a casino. Playing casino games actually isn't that fun for me, its about making money for me. I figure if I treat it as a job, I can somehow win.

Thanks again!

You can always invest in a casino and it is much more safer than playing in casino . I think there is no restriction for US player not to invest in a casino sites. The rule is that you cant run an illegal casino.  

Hey there,

Trust me, I have had a small profit in the short term plenty of times, and I always ended up getting excited and then going broke.

Enough profit for me to walk away is 1% of what I came in with. I figure if I don't get too greedy, I have a better chance of coming out ahead.

Keep your eye on me, we'll see how I do. Thanks!

1 % of your bankroll is 0.004 btc and you wont be satisfied with that because that is only like 1$, but if you can get 1$ everyday then I cant complain with that  

It's not necessarily safer to invest. Look at all the dice sites that have run off with everyone's money, including investors' cash.

And yes, 1% of my bankroll is 0.004 BTC. I am only going to try and make 0.002 or less per day for the first couple of months, because I can't afford to get greedy.

There is some dice sites which is safe to invest in and your 0.4 btc might get alot more than 1 % that you aim if you are investing in a dice sites or maybe lose a lot of it . Since you only aim for 0.002 btc, what will your strategy be? bet max at the max chance ? you can get 2 % with that method 

I don't have a specific strategy, I'll probably just flat bet, because all tbe dice sites let you win at first. However, if I can help it, I'll be staying away from the dice sites.

Well actually all sites are the same if there is a provably fair there . Flat bet cant always guarantee a win for you too but atleast betting at the max bet with max chance will atleast ensure you some percentage that you wish to achieve but ofcourse it is not always a guarantee that you will winn 

[CryForMeSky]

I understand that for every 49 people who win, there are 51 who don't.  But I think you're missing my point. At one point or another, chances are at least a few of those 51 people who lost were up. If they had walked away when they were ahead, the casinos would be out of business.

I get that there is math involved in this, all the games are -ev, etc etc…however, I don't know how you can argue that the casinos would still be in business if everyone who walked through their doors left when they were up.

Keep in mind that not everyone who goes into a casino goes in everyday, week, month or year. In fact, a lot of people who go into casinos only go a few times in their life, so if they only plan on winning $5 or $10, they could easily come out ahead in their lifetime.

But forget about all the folks who don't walk away when they're up, this is MY journey, and I'm going to be disciplined and walk away when I'm up. All I ask from you is that you continue watching this thread, and see how I do.

Of course there is math involved.  It's very easy math to do.  Let's say the odds are 50/50, and everyone bets $5 and leaves when they are up.  After one iteration, half the people will be down $5 and the other half will be up $5.  Let's say the people who are down now bet $10.  Half will win and half will lose, so overall 75% of the people are now up $5 and 25% of the people are down $15.  Let's now say that the people who are down bet $20.  Now 87.5% of the people overall are up $5 and 12.5% are down $35.  Ect ect.  It'll always be breakeven.  Now of course because of rake/vig/house edge, you know that the odds are not 50/50 but slightly worse for the player.  So the house wins.  Of course you can replicate this will any "betting method" you'd like, constant flat bets of $5, alternating bets, scale up/scale down, it'll always work out the same.  In a breakeven game the house will always break even and in a -ev game, the house will always win.

Now, if you are saying "if people don't bet in a casino then the casino will go out of business" then of course that's correct because there would be no revenue, not because there would be magical losses.  You could say that about any business.  If nobody shopped at a store then that store would go out of business.

Anyway, I don't mean to hate on you or anything like that, it just seems like you have some delusions on how gambling works.  Personally, I love gambling and don't mind throwing some money away from time to time because it's a lot of fun for me.  If you are find with losing whats in your bankroll and are just hoping that you hit some positive short term variance and go on a run, that's awesome and I honestly hope you do.  But if you honestly think that there is a magic method for turning a -ev situation into a +ev one or that by betting slowly you'll reverse the math or something, you may want to reevaluate that.

[tjh11]

But for every 49 people who show up, win $5, and leave, there are 51 people who show up and lose $5.  Casinos don't go broke by people betting on -ev spots.  Likewise, a person who goes in once a day and bets $5 and leaves will eventually lose all of their money.

I understand that for every 49 people who win, there are 51 who don't.  But I think you're missing my point. At one point or another, chances are at least a few of those 51 people who lost were up. If they had walked away when they were ahead, the casinos would be out of business.

I get that there is math involved in this, all the games are -ev, etc etc…however, I don't know how you can argue that the casinos would still be in business if everyone who walked through their doors left when they were up.

Keep in mind that not everyone who goes into a casino goes in everyday, week, month or year. In fact, a lot of people who go into casinos only go a few times in their life, so if they only plan on winning $5 or $10, they could easily come out ahead in their lifetime.

But forget about all the folks who don't walk away when they're up, this is MY journey, and I'm going to be disciplined and walk away when I'm up. All I ask from you is that you continue watching this thread, and see how I do.

Of course there is math involved.  It's very easy math to do.  Let's say the odds are 50/50, and everyone bets $5 and leaves when they are up.  After one iteration, half the people will be down $5 and the other half will be up $5.  Let's say the people who are down now bet $10.  Half will win and half will lose, so overall 75% of the people are now up $5 and 25% of the people are down $15.  Let's now say that the people who are down bet $20.  Now 87.5% of the people overall are up $5 and 12.5% are down $35.  Ect ect.  It'll always be breakeven.  Now of course because of rake/vig/house edge, you know that the odds are not 50/50 but slightly worse for the player.  So the house wins.  Of course you can replicate this will any "betting method" you'd like, constant flat bets of $5, alternating bets, scale up/scale down, it'll always work out the same.  In a breakeven game the house will always break even and in a -ev game, the house will always win.

Now, if you are saying "if people don't bet in a casino then the casino will go out of business" then of course that's correct because there would be no revenue, not because there would be magical losses.  You could say that about any business.  If nobody shopped at a store then that store would go out of business.

Anyway, I don't mean to hate on you or anything like that, it just seems like you have some delusions on how gambling works.  Personally, I love gambling and don't mind throwing some money away from time to time because it's a lot of fun for me.  If you are find with losing whats in your bankroll and are just hoping that you hit some positive short term variance and go on a run, that's awesome and I honestly hope you do.  But if you honestly think that there is a magic method for turning a -ev situation into a +ev one or that by betting slowly you'll reverse the math or something, you may want to reevaluate that.
[/quote]

I appreciate your support, but I think I've said plenty of times that I definitely do not think there is some magical method to turn a -ev situation into a +ev situation.  I'm more focused on discipline then on any betting strategy, like a progression. 

As for the math, I get where you are coming from, I really do, but I do feel like casinos would be out of business if everyone who went in walked away when they were up.  I guess we can agree to disagree on that point.

Thanks again for taking the time to comment on this thread, and letting me know your thoughts.  And again, I appreciate you letting me know you're not hating, because as you can imagine, there will be plenty of mathematicians coming on this thread and scolding me for daring to try and come out ahead of the casinos.  (There already have been some)

One last point: As I've thought about it more, I think that the only way I could get to a +ev situation gambling on bitcoin casinos is somehow taking advantage of them letting me win at first.  Because I am very confident that most bitcoin casinos, especially dice sites, let new players win at first.

[tjh11]

Try out some of those casinos with low house edge, has rakeback, and has a faucet bonus. (ok ok, i'm talking about mine, but hey, good luck and have fun!)

Hey, thanks for the kind words! Your casino is 64blocks.com, right? Is it like a regular dice site? I've heard of it, just never played there.

I visited 64blocks.com and was kind of confused. Is there anywhere I can learn how to play?

Thanks!

There is a small help tab on the main screen.

Ok, thanks for letting me know. I'll check it out.