Gambling can be profitable in the long run! It is possible!

[unholycactus]

I doubt OP understands correctly what "the long run" means.
Nobody is luck or unlucky in the long run and the house always wins unless they have an incredibly poor bankroll management.

[XinXan]

I doubt OP understands correctly what "the long run" means.
Nobody is luck or unlucky in the long run and the house always wins unless they have an incredibly poor bankroll management.

Well OP is right, mathematically it can happen, maybe you dont know what you are talking about. It's definitely unlikely to happen but it can. The house always wins but that doesn't mean someone can't profit in the long term.

[RealBitcoin]

I doubt OP understands correctly what "the long run" means.
Nobody is luck or unlucky in the long run and the house always wins unless they have an incredibly poor bankroll management.

Well OP is right, mathematically it can happen, maybe you dont know what you are talking about. It's definitely unlikely to happen but it can. The house always wins but that doesn't mean someone can't profit in the long term.

Not even the house always wins.

If there were 1 billion casinos, i guarantee you that some of them would go bankrupt, even if they would manage their bankroll conservatively.

Why? Because the odds dictate so, and many jackpots in a row can bankrupt anybody.

[Phildo]

I doubt OP understands correctly what "the long run" means.
Nobody is luck or unlucky in the long run and the house always wins unless they have an incredibly poor bankroll management.

Well OP is right, mathematically it can happen, maybe you dont know what you are talking about. It's definitely unlikely to happen but it can. The house always wins but that doesn't mean someone can't profit in the long term.

"It can happen" and "profitable in the long term" do not mean the same thing, and neither does "can profit in the long term." you can make a profit, making -ev bets is not profitable in the long term.

[Erza]

I doubt OP understands correctly what "the long run" means.
Nobody is luck or unlucky in the long run and the house always wins unless they have an incredibly poor bankroll management.

Nope, although there is house edge some people will still manage to win some of their coin there. I dont think that house edge is really affect normal run or manual click. It only affect long run but still many people can manage to win it with varieties of strategy

[michinzx]

I doubt OP understands correctly what "the long run" means.
Nobody is luck or unlucky in the long run and the house always wins unless they have an incredibly poor bankroll management.

Well OP is right, mathematically it can happen, maybe you dont know what you are talking about. It's definitely unlikely to happen but it can. The house always wins but that doesn't mean someone can't profit in the long term.

Not even the house always wins.

If there were 1 billion casinos, i guarantee you that some of them would go bankrupt, even if they would manage their bankroll conservatively.

Why? Because the odds dictate so, and many jackpots in a row can bankrupt anybody.

not really, in a real life casino, there's plenty of staff to kick anyone out who wins too much. and i dont mean "wins too much" as in a few hundred thousand, but those people that come in with never before seen luck and actually endanger the casino's profits. big winners are great for the casino's advertising too.
this can include anyone who's suspicious of cheating as well of course.

[Betwrong]

Yes OP, let's assume I agree with you and I accept the notion that the probability of having a positive total profit in the long run is 40%.

How much this statistic affects me personally? Not much actually. For me it will always be 50/50, I will either win or lose, that's all. And I'm not going to think that the chances of winning are pretty big, much bigger than I thought before, so I should try to win some coins with gambling, because this is the way of thinking of of a gambling addict.

[StevenLiang]

This is a response to the threads:
Topic: Everyone looses in the long run  https://bitcointalk.org/index.php?topic=1199744.0
Topic: Can gambling be profitable in long term ? https://bitcointalk.org/index.php?topic=1186546.0

Yes gambling can be profitable in the long run. It is a mathematical possibility. I`m not a gambling shill, but i`m very frustrated when people put out misleading information. The truth is important.


So here are a few facts:
-Gambling can be profitable in the long term for the gambler
-Gambling cannot be profitable in the long term for the gambler
-Gambling can be profitable in the long term for the house
-The house can go bankrupt

All of these 4 scenarios could happen. They are not impossible. It all depends on luck.


Take the following scenario for long term profitability for the gambler:

-snip-

Did you got benefit from all this time playing gamble?

Simply said, gambling is just for entertainment.
People who think can make stable income from gambling will lose their money into that dream.

Gambling cannot be profitable for long run, because all people cannot win againts house edge. More you play/bet on that game, more chance to make you lose. And because gambling is not just between you and the house edge, your probability to win is really small. That's why gambling is pure on luck.

For sports betting, people also cannot always win from their predictions. All teams want to win on the first place. And that's why gambling in sportbooks is not profitable too for long run.

Otherwise, why we need to be satisfied just being a "viewer" if we can be a "player"?
Gambling just for a "viewer". We choose who will win on some match. Whoever win on that match is not the gambler. Gambler is a viewer.

[RealBitcoin]

not really, in a real life casino, there's plenty of staff to kick anyone out who wins too much. and i dont mean "wins too much" as in a few hundred thousand, but those people that come in with never before seen luck and actually endanger the casino's profits. big winners are great for the casino's advertising too.
this can include anyone who's suspicious of cheating as well of course.

Lol thats a maffia casino

I`m talking about real legitimate casinos, that are respectable not ones that cut your fingers off if you win jackpot


http://www.imdb.com/title/tt0112641/?ref_=nv_sr_2

[MR.Seller]

I doubt OP understands correctly what "the long run" means.
Nobody is luck or unlucky in the long run and the house always wins unless they have an incredibly poor bankroll management.

Well OP is right, mathematically it can happen, maybe you dont know what you are talking about. It's definitely unlikely to happen but it can. The house always wins but that doesn't mean someone can't profit in the long term.

"It can happen" and "profitable in the long term" do not mean the same thing, and neither does "can profit in the long term." you can make a profit, making -ev bets is not profitable in the long term.

Yup its really happen. And actualy its happen to me. I use only 200 free faucet and I won 0.01 satoshi in 3 days I didn't lose just claim for 1 free faucet then I play the 200 free faucet in 3 days and I won 0.01 satoshi first I think I'm lucky on the first day I won 0.0002 and continue winning within 3 days finally I withdraw the 0.01 satoshi and start from 200 again $_$

[bering]

probably yes for some people but i didn't see any proof that some one really can do it in the long run besides the owners of gambling houses
because i assume only the owners can be profitable in the long run and not the gamblers

[ronaldo40]

probably yes for some people but i didn't see any proof that some one really can do it in the long run besides the owners of gambling houses
because i assume only the owners can be profitable in the long run and not the gamblers

yeah i agree, this only applies to owners of gambling houses that will always make profit in the long term. for this player is very unlikely, they will continue to lose

[xuan87]

probably yes for some people but i didn't see any proof that some one really can do it in the long run besides the owners of gambling houses
because i assume only the owners can be profitable in the long run and not the gamblers

yeah i agree, this only applies to owners of gambling houses that will always make profit in the long term. for this player is very unlikely, they will continue to lose

When I played martiangle, I can win for some time but I must know when do I must stop martiangle it since at the end , you will got busted.
But if you keep playing to chase your loss, sometimes it can profitable

[XinXan]

I doubt OP understands correctly what "the long run" means.
Nobody is luck or unlucky in the long run and the house always wins unless they have an incredibly poor bankroll management.

Well OP is right, mathematically it can happen, maybe you dont know what you are talking about. It's definitely unlikely to happen but it can. The house always wins but that doesn't mean someone can't profit in the long term.

Not even the house always wins.

If there were 1 billion casinos, i guarantee you that some of them would go bankrupt, even if they would manage their bankroll conservatively.

Why? Because the odds dictate so, and many jackpots in a row can bankrupt anybody.

not really, in a real life casino, there's plenty of staff to kick anyone out who wins too much. and i dont mean "wins too much" as in a few hundred thousand, but those people that come in with never before seen luck and actually endanger the casino's profits. big winners are great for the casino's advertising too.
this can include anyone who's suspicious of cheating as well of course.

Even if they don't kick people out, kicking someone who is winning a lot it's not doing anything really. I have never heard of any casino going bankrupt because the players started winning too much. He said ''the odds dictate so'' But the odds dictate that the casino will never go bankrupt if they manage their bankroll carefully enough.

[ronaldo40]

probably yes for some people but i didn't see any proof that some one really can do it in the long run besides the owners of gambling houses
because i assume only the owners can be profitable in the long run and not the gamblers

yeah i agree, this only applies to owners of gambling houses that will always make profit in the long term. for this player is very unlikely, they will continue to lose

When I played martiangle, I can win for some time but I must know when do I must stop martiangle it since at the end , you will got busted.
But if you keep playing to chase your loss, sometimes it can profitable

yeah but if you are always chasing your losses, not the least you will be losing a lot. at least you do not get greedy and know when to stop and withdrawals

[adaseb]

I doubt OP understands correctly what "the long run" means.
Nobody is luck or unlucky in the long run and the house always wins unless they have an incredibly poor bankroll management.

Well OP is right, mathematically it can happen, maybe you dont know what you are talking about. It's definitely unlikely to happen but it can. The house always wins but that doesn't mean someone can't profit in the long term.

Not even the house always wins.

If there were 1 billion casinos, i guarantee you that some of them would go bankrupt, even if they would manage their bankroll conservatively.

Why? Because the odds dictate so, and many jackpots in a row can bankrupt anybody.

Its rare for a casino to go bankrupt. They usually only go bankrupt when the economy is down. But even if there is a large whale, the 99.5% of all losers will cover his wins anyways.

[Phildo]

Casinos don't go bankrupt because of paying out jackpots, they go bankrupt because they have other expenses that are more than they win in gambling and they are unable to get people to walk in the door and hand them money.

[RealBitcoin]

Its rare for a casino to go bankrupt. They usually only go bankrupt when the economy is down. But even if there is a large whale, the 99.5% of all losers will cover his wins anyways.

Not sure about that, there are studies that show that when the economy is down, people gamble way more.

Maybe out of desperation (they try to recover their lost money from the bad economy) or just because they dont have anything else to do.

So gambling is one of the only industries that is recession/depression proof.

[darkangel11]

Its rare for a casino to go bankrupt. They usually only go bankrupt when the economy is down. But even if there is a large whale, the 99.5% of all losers will cover his wins anyways.

Not sure about that, there are studies that show that when the economy is down, people gamble way more.

Maybe out of desperation (they try to recover their lost money from the bad economy) or just because they dont have anything else to do.

So gambling is one of the only industries that is recession/depression proof.

When economy is down people are not only gambling but also drinking more and you're right, it's to kill time.
Casinos go bankrupt not because nobody want's to play but because it's a competitive market.

[Opnsrc]

I would like someone to break down the psychology and logic of the following.

Via gambling,
I can & have turned $1 into $2 over and over again.
But I can not & have not ever been able to turn $100 into $200 using the same methods and logic scaled on a Percentage base. 

This conundrum boggles my mind.

(If any common logic is missing from this short comment, assume it was included.)