How much can you earn with gambling?

[Dannie]

Math says you get a negative outcome at the end. Otherwise the house should be broke by now lol.

In fact, math does not say the gamblers will always get a negative outcome at the end. It is just total loss by the gamblers will highly likely be bigger than the total gain. If 2000 gamblers each make a x2 bet, ~990 of them will win and ~1010 will lose. So, some gamblers win, some gamblers lose and the house wins.

[Xenoph0bia]

Actually no one can predict this, really there is no limit to how much you can earn in gambling and also there is no limit to the amount you can lose.
Games of pure chance whilst reaping large rewards are just pure luck and you have no input on the outcome.  Sports betting or some table games allow you far more input and sway. People can be rich and also can lost everything they have.

[BTCevo]

i managed to win 2btc+ in gambling from .1btc bankroll, i sell almost 1.5btc and lost the rest again so all in all im still in profit from gambling so im not yet stopping xD

That's a massive winning from a 0.1 btc capital, how long did you managed to multiply your bankroll up to 20 times? And where do you gamble? I've also tried gambling 0.1 btc on a dice site before but end up unlucky and lost Maybe I'm gonna try my luck on that site

Actually it depends for yourself and luck too for sure, but you can manage it 20x only in bustabit and sometimes it will hit 10k x multiplier so the question is, are you dare to wait that long to cashout before busted? Dice is hard to win 20x because they have houseedge and its hard to beat unless you got pretty much balance to cover it

[Laosai]

i managed to win 2btc+ in gambling from .1btc bankroll, i sell almost 1.5btc and lost the rest again so all in all im still in profit from gambling so im not yet stopping xD

That's a massive winning from a 0.1 btc capital, how long did you managed to multiply your bankroll up to 20 times? And where do you gamble? I've also tried gambling 0.1 btc on a dice site before but end up unlucky and lost Maybe I'm gonna try my luck on that site

Actually it depends for yourself and luck too for sure, but you can manage it 20x only in bustabit and sometimes it will hit 10k x multiplier so the question is, are you dare to wait that long to cashout before busted? Dice is hard to win 20x because they have houseedge and its hard to beat unless you got pretty much balance to cover it

Yeah I know its all about the luck and nothing but the luck. Luck is all we need in gambling, no strategies or whatsoever (unless you cheat their system ) I also tried bustabit before but never had the chance to win big there, maybe I'll try there again in some time and accept your dare not to stop until 20x

[vendetahome]

you can earn massive amounts of money im pretty sure about this fact as people sometimes win a lot of money playing poker or games like that

[bitart]

Is there a kind of risk management strategy that works in connection with gambling? E.g. if you speculate in the real market on the price of a stock you can define entry points and stoploss points. Even you can decide to risk only predefined % of your capital in one transaction.
Is there a kind of similar thing in gambling or is it needed anyway?

[Mickeyb]

If you know what you are doing and if you are lucky you can learn a lot. This I talk about Poker and sports betting.

If you don't know what you see doing than you will probably lose everything. Also if you play dice. Dice sites will make you lose everything as well.

[Dennis7777]

Is there a kind of risk management strategy that works in connection with gambling? E.g. if you speculate in the real market on the price of a stock you can define entry points and stoploss points. Even you can decide to risk only predefined % of your capital in one transaction.
Is there a kind of similar thing in gambling or is it needed anyway?

Not sure what you are looking for exactly, but you can control your bet size freely in each of your bets. If you want to risk only 5% of your money in the next bet, you can directly choose that amount as your bet size.
Also, there is something called Kelly formula https://en.wikipedia.org/wiki/Kelly_formula, which tells you how much you should risk in each bet when the bets are favourable (+EV) to you. But when the bets are unfavourable (-EV) to you, it tells you not to make the bet.

[fox19891989]

Is there a kind of risk management strategy that works in connection with gambling? E.g. if you speculate in the real market on the price of a stock you can define entry points and stoploss points. Even you can decide to risk only predefined % of your capital in one transaction.
Is there a kind of similar thing in gambling or is it needed anyway?

Not sure what you are looking for exactly, but you can control your bet size freely in each of your bets. If you want to risk only 5% of your money in the next bet, you can directly choose that amount as your bet size.
Also, there is something called Kelly formula https://en.wikipedia.org/wiki/Kelly_formula, which tells you how much you should risk in each bet when the bets are favourable (+EV) to you. But when the bets are unfavourable (-EV) to you, it tells you not to make the bet.

Your link about kelly formula is awesome, maybe we can learn good strategy from it, if we wanna be +EV, mastering math is a necessary thing. But I think every bet is independent, how to choose when to bet big, when to bet small?

[Dennis7777]

Is there a kind of risk management strategy that works in connection with gambling? E.g. if you speculate in the real market on the price of a stock you can define entry points and stoploss points. Even you can decide to risk only predefined % of your capital in one transaction.
Is there a kind of similar thing in gambling or is it needed anyway?

Not sure what you are looking for exactly, but you can control your bet size freely in each of your bets. If you want to risk only 5% of your money in the next bet, you can directly choose that amount as your bet size.
Also, there is something called Kelly formula https://en.wikipedia.org/wiki/Kelly_formula, which tells you how much you should risk in each bet when the bets are favourable (+EV) to you. But when the bets are unfavourable (-EV) to you, it tells you not to make the bet.

Your link about kelly formula is awesome, maybe we can learn good strategy from it, if we wanna be +EV, mastering math is a necessary thing. But I think every bet is independent, how to choose when to bet big, when to bet small?

Yes every bet is independent and so Kelly formula does not tell you to change your bet size based on your previous rolls, unlike in progressive strategies like martingale. Your bet size (as % of your total bankroll) should stay the same as long as the win chance and multiplier are unchanged.

[safari88]

If you know what you are doing and if you are lucky you can learn a lot. This I talk about Poker and sports betting.

If you don't know what you see doing than you will probably lose everything. Also if you play dice. Dice sites will make you lose everything as well.

yes I prefer to play poker with a waiting patient then you can win, compared to dice set by the system and who know it is not fair

[futurebit640]

If you know what you are doing and if you are lucky you can learn a lot. This I talk about Poker and sports betting.

If you don't know what you see doing than you will probably lose everything. Also if you play dice. Dice sites will make you lose everything as well.

I usually bet only on sports and made so for less than one bitcoin. Since I know more about the cricket I bet mostly on these games and made some profits from those games. But I'm not a regular betting person only some times in free time and if I think some teams will surely win then only I bet otherwise no to gambling.

[dinda22]

i managed to win 2btc+ in gambling from .1btc bankroll, i sell almost 1.5btc and lost the rest again so all in all im still in profit from gambling so im not yet stopping xD

an overwhelming victory with a capital of 0.1 becomes 2btc, may you have a good sklil. what types of gambling you play?

[panjul07]

If you know what you are doing and if you are lucky you can learn a lot. This I talk about Poker and sports betting.

If you don't know what you see doing than you will probably lose everything. Also if you play dice. Dice sites will make you lose everything as well.

yes I prefer to play poker with a waiting patient then you can win, compared to dice set by the system and who know it is not fair

There is a provably fair mechanism in almost all dice site, so you can verify all your bets. And talk about fairness, there is also probability to see unfair game on poker. I have experienced in my local poker site, and so surprises to know that the admin of the site was playing against real player and he always win whatever cards on his hand.

[Decoded]

i managed to win 2btc+ in gambling from .1btc bankroll, i sell almost 1.5btc and lost the rest again so all in all im still in profit from gambling so im not yet stopping xD

an overwhelming victory with a capital of 0.1 becomes 2btc, may you have a good sklil. what types of gambling you play?

i usually play sportsbetting on most of the time and ofcourse luckyb.it i got almost 3-4weeks straight winning there, everyday on profit

[adaseb]

Is there a kind of risk management strategy that works in connection with gambling? E.g. if you speculate in the real market on the price of a stock you can define entry points and stoploss points. Even you can decide to risk only predefined % of your capital in one transaction.
Is there a kind of similar thing in gambling or is it needed anyway?

Not sure what you are looking for exactly, but you can control your bet size freely in each of your bets. If you want to risk only 5% of your money in the next bet, you can directly choose that amount as your bet size.
Also, there is something called Kelly formula https://en.wikipedia.org/wiki/Kelly_formula, which tells you how much you should risk in each bet when the bets are favourable (+EV) to you. But when the bets are unfavourable (-EV) to you, it tells you not to make the bet.

Your link about kelly formula is awesome, maybe we can learn good strategy from it, if we wanna be +EV, mastering math is a necessary thing. But I think every bet is independent, how to choose when to bet big, when to bet small?

Yes every bet is independent and so Kelly formula does not tell you to change your bet size based on your previous rolls, unlike in progressive strategies like martingale. Your bet size (as % of your total bankroll) should stay the same as long as the win chance and multiplier are unchanged.

This stragegy is better because if there is a large losing streak, you won't get taken out like in martingale however since there is still a house edge you can lose.

[mr.relax]

I only know some guys who claim they are gambling and earning.
In fact they loose all. Money, house, family...

[Dennis7777]

-snip-
Also, there is something called Kelly formula https://en.wikipedia.org/wiki/Kelly_formula, which tells you how much you should risk in each bet when the bets are favourable (+EV) to you. But when the bets are unfavourable (-EV) to you, it tells you not to make the bet.

Your link about kelly formula is awesome, maybe we can learn good strategy from it, if we wanna be +EV, mastering math is a necessary thing. But I think every bet is independent, how to choose when to bet big, when to bet small?

Yes every bet is independent and so Kelly formula does not tell you to change your bet size based on your previous rolls, unlike in progressive strategies like martingale. Your bet size (as % of your total bankroll) should stay the same as long as the win chance and multiplier are unchanged.

This stragegy is better because if there is a large losing streak, you won't get taken out like in martingale however since there is still a house edge you can lose.

Hmm it seems you have misunderstood it. If you follow the Kelly formula, you would never ever bet in those dice, roulette, BJ or any games with a positive house edge, as all those bets give you a negative EV. Instead you would only be on the other side of the bet, either be the site owner or be a bankroll investor.

[Mickeyb]

If you know what you are doing and if you are lucky you can learn a lot. This I talk about Poker and sports betting.

If you don't know what you see doing than you will probably lose everything. Also if you play dice. Dice sites will make you lose everything as well.

yes I prefer to play poker with a waiting patient then you can win, compared to dice set by the system and who know it is not fair

There is a provably fair mechanism in almost all dice site, so you can verify all your bets. And talk about fairness, there is also probability to see unfair game on poker. I have experienced in my local poker site, and so surprises to know that the admin of the site was playing against real player and he always win whatever cards on his hand.

Yes, there are provable dice sites but dice homes are based only on luck, while in poker and sports betting there is at least some skill and knowledge involved.

It has been said and proven in numerous threads that dice games will make you lose money always in a long run, even the provable ones.

[dinda22]

i managed to win 2btc+ in gambling from .1btc bankroll, i sell almost 1.5btc and lost the rest again so all in all im still in profit from gambling so im not yet stopping xD

an overwhelming victory with a capital of 0.1 becomes 2btc, may you have a good sklil. what types of gambling you play?

i usually play sportsbetting on most of the time and ofcourse luckyb.it i got almost 3-4weeks straight winning there, everyday on profit

hmm nice you have good skills in selecting the team. same with me like to play sports betting and luckybit, but in luckyb.it I prefer to wait lotto