Can gambling be profitable in long term ?

[michinzx]

You just can't win from gambling --'
You can  win if you gamble against people but computer algorithms are too good to be fooled by humans, you just can't win on the long term.

of course you can win from gambling, its just less likely that a player will win than they are likely to lose a game that's more or less tailored to profit the casinos that host them. with games that you can play "smartly" in, however, it is possible to come out ahead in the long run, provided you dont get hit by a bad streak of bad luck. blackjack(making the right calls and observing what's dealt) and poker and probably the easiest to profit in the long term with, but even that takes a considerable amount of experience.

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[kyrios_]

i dont think that it is possible for gambling to be profitable in a long term if you are playing a lot of gambling games then you will most probably end up without having any money in your pocket

you can't win in the long run statistically. every casino has a house edge, if you get lucky you'll be the house edge but in the long run, the house will win

[BTCevo]

You just can't win from gambling --'
You can  win if you gamble against people but computer algorithms are too good to be fooled by humans, you just can't win on the long term.

Computer is not smart than human, that super computer algorithms made by human. So if you know what exactly are you doing to gamble you can make it profit in long term.

How can you manage to change the algorithms in their site? You need to be the authority to change it and if you can you will be hired by the casino company and ask not to earn from that site anymore. I guess this is more like cheating if you continue on exploting their work they will ban you forever from their casino

[jerowacik]

You just can't win from gambling --'
You can  win if you gamble against people but computer algorithms are too good to be fooled by humans, you just can't win on the long term.

Computer is not smart than human, that super computer algorithms made by human. So if you know what exactly are you doing to gamble you can make it profit in long term.

How can you manage to change the algorithms in their site? You need to be the authority to change it and if you can you will be hired by the casino company and ask not to earn from that site anymore. I guess this is more like cheating if you continue on exploting their work they will ban you forever from their casino

cheating really is not allowed. gambling actually taught us to play fair. although the first point needed was luck.

[n2004al]

You just can't win from gambling --'
You can  win if you gamble against people but computer algorithms are too good to be fooled by humans, you just can't win on the long term.

Computer is not smart than human, that super computer algorithms made by human. So if you know what exactly are you doing to gamble you can make it profit in long term.

How can you manage to change the algorithms in their site? You need to be the authority to change it and if you can you will be hired by the casino company and ask not to earn from that site anymore. I guess this is more like cheating if you continue on exploting their work they will ban you forever from their casino

cheating really is not allowed. gambling actually taught us to play fair. although the first point needed was luck.

Sure that cheating is not allowed in gambling. Because who which cheat more is the owner of the casino or the online gambling site. This people are even the biggest cheaters. There are no place for the little cheaters like the players in one place where are, exist or have big (money) interests the big cheaters.  

[zeraTunerse]

Gambling can only be profitable from analysing the game , analyse the game , see if your thoughts match with favorite team or not if yes , check previous 3-4 months record of the team you are betting upon. Please note: always Just don't go with Favorite , sometimes favorite teams are like myths.

Favorite team always wins?

So realizing that the public is heavily inclined to bet on the favorite in a profit maximizing world, the underdog would win 52.38% of its bets — just enough to beat all of the ordinary bettors but still not so high as to be exploited by the smarter, more rational bettors. some found that they won 52% of their bets, which is a lot closer to the profit maximizing number than merely 50%. Casinos are clearly taking advantage of the bias of the public towards favorites in NFL betting, but not so much that rational quantitative bettors could have risk free profits.

[Aggressor66]

I think success or failure when trying to turn gambling into a steady source of income it’s mostly based on how strong your mindset is to react when it turns sour (and there are plenty of sour moments in this activity), only those who are able to lead with it the best possible way can be successful because it’s NOT EASY AT ALL!

[Pollak]

As long as you win more than you are losing then yes that's a profit.

But you should still be carefull. For some people it's hard to stop and really addictive

it wouldn't be for long term because if you win today it doesn't mean you will win again tomorrow
and no guarantee if you do a gamble you can earn profit everyday

This is true but let's say if you go in with 100 and you go home with 200, you could leave the 100 at home the next day and if you lose, you'll only lose what you've won.

[lolgato]

Gambling can never be profitable in the long term if you gamble and know when to stop then yeah

[bitcoin-hunter]

As long as you win more than you are losing then yes that's a profit.

But you should still be carefull. For some people it's hard to stop and really addictive

it wouldn't be for long term because if you win today it doesn't mean you will win again tomorrow
and no guarantee if you do a gamble you can earn profit everyday

This is true but let's say if you go in with 100 and you go home with 200, you could leave the 100 at home the next day and if you lose, you'll only lose what you've won.

Yes I agree with you, I have done that I it works. Well I have lost the money the next day, but with way you can't lose so much.

Just a tip just make always a plan how much money you want to gamble, because you can lose it.

I only use my extra money ( not my savings ), because with that in your mind is nothing.

[megatron1337]

Very few are the people who gain profits long term with gambling. And most of the time,if they do,they use complex mathematical formulas to "cheat" and beat the house.

[GannickusX]

Little gamblers like us can not make gambling for them profitable in long term and always loose sooner or later.Only professionals make it because they get money from their sponsors.We can not use professionals as example as they don't represent the majority so it is not profitable in the long term at all.

Professionals do not make money because of sponsors, professionals play games like poker where there is no house edge or sport betting which is skill based aswell, that's why some of them can make a living out of it but it's extremely hard.

you are wrong. professionals make money from sponsors on top of cash prizes. that is what happens to all the sports players and game players. and in case u dont noe, some professional gamblers also target table games like roulette where there is house edge but they just know how to make profit out of it. not all the time but most of the time.

They only get money from sponsors because they are already good at what they do, they are already profiting from poker or whatever they are playing, anyone famous or skilled in anything will end up getting money from sponsors but that doesn't mean thats their biggest income of money.

[Mikestang]

Gambling can never be profitable in the long term if you gamble and know when to stop then yeah

There are plenty of people that gamble professionally and are able to make a living at it, but there are way, way more that end up losing - losing it all or losing enough to know that professional gambling isn't for them.  Even the successful professionals are only on the winning side like 56% of the time, so even being a winning professional gambler you still lose about 40% of the time.

[croato]

Gambling can be very profitable in long term and you can earn lot of money on daily basis if you own casino, but if you are gambler, math cant be beaten at long enough period. (PvP gambling could be exception, but you also need lot of luck no matter how skilled you are).

[faince222]

Gambling can be very profitable in long term and you can earn lot of money on daily basis if you own casino, but if you are gambler, math cant be beaten at long enough period. (PvP gambling could be exception, but you also need lot of luck no matter how skilled you are).

Of course. It is possible to reduce some probability to lose all, but you can not avoid to lose all, so, gambling strategy if you want to earn something is not so good. But sometime, there is some casino that has closed because of its loses (and we have seen many of them in this years).

[98problems]

of course gambling might be profitable in a long term though its really hard to achieve as you need to beat house edge a lot of times if you gamble for a long time in order to finish in profit

[HarryKPeters]

There must be people we are quite skilled in certain games.

Problem is, if they gamble they are addicted and in the end will bet a lot/ all their money on the wrong 'horse'

[equator]

if you take sports betting in cricket, soccer and tennis, and that too take this as a profession and do serious research , analysis and get some help with professional then i think you can earn but not like you will become millionaire in one day. it will be like your business profit not losses.

[newcoins1978]

There must be people we are quite skilled in certain games.

Problem is, if they gamble they are addicted and in the end will bet a lot/ all their money on the wrong 'horse'

I agree on that. Many of those gamblers lose money. The handfull really skilled players earn fortunes and keep on winning, day in.. day out.

Nobody can stop them.

[dooglus]

Gambling on a dicing site with a 1% house edge gives you a 49.5% chance to turn your bankroll to 200% of your original bankroll, while giving you a 50.5% chance to turn your bankroll into 0% of your original bankroll - assuming you only stop when you reach 200% or 0% of your original bankroll.

That's not true - your chance of doubling your bankroll depends a lot on your strategy.

For an example of a very bad strategy, suppose you go all-in at 98% over and over until you lose, or double your bankroll:

  each time you win, you multiply your bankroll by 99/98 = 1.0102040816
  so to double your bankroll, you need to win math.log(2, 99.0/98) = 68.27441 times
  the chance of winning 68 times in a row is (98.0/100) ** 68 = 0.25314 = 25.314% - much lower than 49.5%

For an example of a better strategy, try:

  bet 0.5 at 33%
  if you win, you get 99/33 = 3x, so you get 1.5 back, a profit of 1 - you've doubled your money

  if you lose, bet the other 0.5 at 24.75%
  if you win, you get 99/24.75 = 4x, so you get 2 back - you've doubled your money

  the only way it goes wrong is if you lose both the 33% and the 24.75% - the chance of that is (1-0.33) * (1-0.2475) = 0.504175
  so the chance of success is 1 - 0.504175 = 0.495825 = 49.5825% - a fraction higher than 49.5

So it's possible to find strategies that are better or worse than 49.5% chance of doubling up.