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

[trafficolaa]

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.)

It depends on our how dare we are to take risk our mind want to keep into safe environment we fee comfortable with little amount and our allow us to play with less lose but huge amount we act totally different so that is the reason why are getting failed with big amount. 

[SyGambler]

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.)

It depends on our how dare we are to take risk our mind want to keep into safe environment we fee comfortable with little amount and our allow us to play with less lose but huge amount we act totally different so that is the reason why are getting failed with big amount. 

theoretically this is not true , the odds of turning 1$ to 2$ playing the same game and following the same strategy is the same of turning 100$ to 200$
also if the games have the same rules like in the first one min bet is 0.01 and max is 1 , 2nd one has 1 min bet and 100 max ... etc
but things are different in games like poker , when you will find turning 10$ to 100$ is much easier than turning 100$ to 1000$ , cause each higher buy in level has more skilled players also there is the pressure aspect that you are playing higher limits and facing more skilled players than before which will affect on your decisions
 Other games shouldn't be affected by the " safe environment " or " risk toleration "since you can't change the results and you are following the same steps that you were following while betting micros

[TheGeorge]

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.)

With martingale, you can double (turn) $1 into $2 after many tries. But the winning is just $1. You cannot turn $100 into $200 because there is an upper limit of the stakes you can put on the table and also how many you have originally. If you lose 10 times, you need $100,000 on stake if your initial bet is $100.

[wearepoor]

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.)

Agreed, you can not apply the same logic for all the games ranging from $1 - $100- $1000. Its easy to double $1 but at the same time you can not  apply the same trick or strategy while playing with $1000.

[shanem]

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.

The problem with casinos is not about the profits. It is more of the regulation which casinos have to follow to get their casino license. These regulation eat up lots of the casino profit and the casino market is always together in a region like Las Vegas. Casino earns money but do not earn as much money as you think.

[BTCevo]

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.)

I can say that with $1 you have no risk to make it to $2, although you lose it that is not much you can easily get it back but with $100 It will be hard because you need more balance to try to recover it and it will be like burden to you to earn that back, all gambling things is just depends on luck whether $1 or $100 the percentage of winning is still the same

[RealBitcoin]

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.)

I can say that with $1 you have no risk to make it to $2, although you lose it that is not much you can easily get it back but with $100 It will be hard because you need more balance to try to recover it and it will be like burden to you to earn that back, all gambling things is just depends on luck whether $1 or $100 the percentage of winning is still the same

yes, that is my point that luck is the only variable, and that means that its possible, not an impossible event.

And the probability is fairly generous, about 49% that you will end up winner in the long term. So if half of the population gambles half will be winner ,and half will be loser. The casino will take only 1% comission for this wealth redistribution.

[zecexe]

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

[diodio5]

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

yes true because gambling is about daring to take risks, if you do not take risks, I'm sure you would not be profitable and losing

[RealBitcoin]

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

That is what it is about isnt it, taking risk to earn reward.

[jt byte]

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

It's possible but in no way it's a sustainable concept to earn/profit on the long term.
At best you lose your winnings and end up break-even.

For most gamblers this is a utopia though.

[RealBitcoin]

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

It's possible but in no way it's a sustainable concept to earn/profit on the long term.
At best you lose your winnings and end up break-even.

For most gamblers this is a utopia though.

Or you win the jackpot and break even, and earn a big prize on top of that.

Imagine a lottery, the risk is fixed and the same every time, because the rules of the game are the same.

However the reward is different based on how big the jackpot is, so it's theoretically possible to have a lottery with a positive expectancy.

[RealBitcoin]

Ok this example is just on top of my mind.


Imagine a lottery with 10 numbers, and you have 1 number that get's you the jackpot. So the odds of winning the jackpot is 10%.

Every person can buy as many tickets as he wants and each ticket costs 0.1BTC.


So 20 people bought 20 tickets, and nobody guessed the lucky number so far, and the prize is now 2BTC.

Comes the 21 guy who buys the 21th ticket he risks 0.1BTC to win  2BTC with the probability of 10%. HE HAS A POSITIVE EXPECTANCY!


His expectancy is 0.11, so therefore this can be profitable for him.


The only info is needed is the lottery to announce when and if there is any winner at the moment (so that the winner knows if his prize will be shared with someody), and the total prize amount. With these 2 infos, you can play lottery with positive expectancy!

[Dennis7777]

-snip-
With these 2 infos, you can play lottery with positive expectancy!

There is an easier way for you to be able to play lottery with a positive expected value: Learn the existence of Pevpot.com. Its thread is https://bitcointalk.org/index.php?topic=1243970.0

[blackmachinegun]

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

by taking a greater risk of course you will get a big profit, you must have the courage to take that chance,
it can beat the house

[Newcoins2020]

In casino gambling, the "house" has a mathematical advantage over the gambler, the player. Odds are that in the long run, the gambler will lose. To take a risk in the hope of gaining of a profit in gambling can be possible.

by taking a greater risk of course you will get a big profit, you must have the courage to take that chance,
it can beat the house

There is no way this title can be sustained.
Remember more risk means a bigger reward but it means your chance to lose 100% of you bet too.

[fravia]

well it can be profitable in a very long run if you will be lucky enough every time gambling but beating the house edge is impossible and no one has ever did it, if it was possible everyone would beat casinos and it wouldnt make any good profit

[Supercrypt]

well it can be profitable in a very long run if you will be lucky enough every time gambling but beating the house edge is impossible and no one has ever did it, if it was possible everyone would beat casinos and it wouldnt make any good profit

Other than luck, in long run one must learn and develop some strategies to make some own way of profit making out one particular gambling. Then it's possible to have gambling profitable in long run. Otherwise long run or short run gambling is always risk for our bankroll.

[takingthis4]

gambling can be profitable in a very long run but i doubt that it can be profitable for all your gambling career as gambling websites have house edge what will not you allow to earn vast amounts of money, believe me i have experience with it

[btcprospecter]

The op shows this well although winners one day losers the next and I think this is what keeps us coming back for more