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

[angaper]

Of course it is possible a long term profitability provided that such gambler has a good strategy, because depending exclusively on good luck does not seem a reliable investment. In my case I prefer to try with businesses where luck factor is also essential, but you can control some variables that can increase your chances to profit, like forex trading or even binary options.

[rio3233]

gamblers sets aside their emotions when they are gambling, gambling = risking, that means everything that we win or put in our balance would probably be busted in the long time..

Gambling is always a risk and there is nothing to do about that but there is a chance you will make profit in a long term but indeed mostly not because you will need luck.
Gambling is all depending on luck so its almost not possible, and its also what you consider as a long term.

For provably fair games, yes you need luck and depending on luck. But on sports betting you don't need to much luck. it's different with provably fair games. and sports betting has a better chance to win and an be profitable in the long run.

[RealPhotoshoper]

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:

1000 gamblers gamble 100$ every day on slotmachine. The house edge is 1%. The total money wagered is 100,000$ every day.

The house makes on average: 1000$/day
So the rest of the 99,000$ is changing hands between gamblers.

So the following scenario could happen: 400 gamblers win consistently for 1 year for example, and 600 gamblers lose consistently for 1 year.

Now the 400 gamblers wager 40,000$ and the 600 gamblers wager 60,000$. The total profit of the 400 gamblers thus is 59,000$ since 1000$ goes to the house.

Thus divide that by 400, each gambler wagers 100$, and wins 147.5$ every single day for 1 year.

Or it could be that 200 of that 400 wins only 73.5$/day consistently, and the other 200 wins 295$ /day consistently.

Or many other, infinitely many other variations of this scenario.




Look it's all possible, only luck will tell, so don't tell me that winning consistently on the long term is impossible.

In infinity all gamblers would lose, and only the house would win (if it doesnt get wiped out by some big jackpots in a row), no doubt about that, but how much does the average gambler play 5-10 years? In that time range this scenario that I described is totally possible.

In the example above, your probability of winning long term is:  (40% * the probability of the probability distribution happening that is required to have the 1 year consistency).

This is not necessarly accurate representation, but it's an illustration how a negative expectancy game's probability distribution looks like.
Gamblers winning is a tail event with low probability, nontheless it's mathematically possible to happen:

https://en.wikipedia.org/wiki/Probability_distribution#Continuous_probability_distribution
https://en.wikipedia.org/wiki/Normal_distribution

You just need to calculate that area and you got the probability of your scenario set to happen:



You can calculate that area:
https://en.wikipedia.org/wiki/Z-test

Now this doesn't mean that you, the gambler will win, you can end up in the 600 gambler group and always lose. However if you luck is good, then you can win consistently.

Basically it all comes down to luck, lucky is the only variable that determines weather you are a loser or a winner.

So I wish you all good luck gamblers!

good analyze,senior and pro gambler will do this for make gambling have better mindset for newbie
but i also agree that gambling can used for long term profit,but it will not same profit each game.

[Erza]

possible, need to be very lucky. You have a higher chance that you lose more money than you win money, so that wont be good.
Most people lose so much money because greedy

Luck is e must for sure in every gambling games but besides that you need some strategy too to boost your winning chance so you can get some profit too and after that you just need to set some limit for your max win and max loss so before you busted everything at least you still have some profit too

[teilwalL05]

good analyze,senior and pro gambler will do this for make gambling have better mindset for newbie
but i also agree that gambling can used for long term profit,but it will not same profit each game.

Yup! it can really make a profit in a long run and like what you said the output on playing gambling is not the same just like you did the other time your lucky winning it and even if you can profit in gambling it is really too risky doing it.

[Blithe]

good analyze,senior and pro gambler will do this for make gambling have better mindset for newbie
but i also agree that gambling can used for long term profit,but it will not same profit each game.

Yup! it can really make a profit in a long run and like what you said the output on playing gambling is not the same just like you did the other time your lucky winning it and even if you can profit in gambling it is really too risky doing it.

Gambling cannot be profitable to the person in the long run. Its the house who makes the most profit in the long run.

[Pollak]

gamblers sets aside their emotions when they are gambling, gambling = risking, that means everything that we win or put in our balance would probably be busted in the long time..

Gambling is always a risk and there is nothing to do about that but there is a chance you will make profit in a long term but indeed mostly not because you will need luck.
Gambling is all depending on luck so its almost not possible, and its also what you consider as a long term.

Yes indeed. There are always risks in gambling and that is very bad. But the chance is also higher that you can lose some money than win money.
And that is really bad. Because people think that they can win some money with it but that is not true...

[teilwalL05]

good analyze,senior and pro gambler will do this for make gambling have better mindset for newbie
but i also agree that gambling can used for long term profit,but it will not same profit each game.

Yup! it can really make a profit in a long run and like what you said the output on playing gambling is not the same just like you did the other time your lucky winning it and even if you can profit in gambling it is really too risky doing it.

Gambling cannot be profitable to the person in the long run. Its the house who makes the most profit in the long run.

Nope but there is a chance in profiting with gambling for sure I am not saying a long run 1 day playing I am saying you are old in the business and you have gain experience just by playing I think it can be profitable Because I have gain a lot win that losing right now.

[knowhow]

Well lets call gambling and investment that may bring some profits,but the thing is were you gambling at.My brother invested 100 euros sometime ago and in a month he made just bet sports of who would win the game ,he made 50 euros,that he had cashout,me on the same time i invested 50 euros that i lost as i were making bet lives,meaning i bet what would happen on the next moment a fault,a kick off those things.Soo sure gambling can turn into a machine of money but those money will come slowly around 1-10% montly and knowing the odds arent always the best but well need to take the risk.

[GermanFoobla]

Of course it can be really profitable on such terms but the fact is that you will also need a lot of luck to do this.
The most people do not have to luck so they will not make profit on a long run but will lose more and more on a long term, this can also be seen on the stats from people.

[AfricanBloke]

I love this guide It explains so well to people all the scenarios and how it works.  Thank you!

[BitcoinRevolvers]

What if there is a PvP game you can play with 0% House Rake.
Even better, the game is 50/50 Luck/Skills.

A skilled player would always come on top I the long run.
We see it happen. 

[teilwalL05]

Of course it can be really profitable on such terms but the fact is that you will also need a lot of luck to do this.
The most people do not have to luck so they will not make profit on a long run but will lose more and more on a long term, this can also be seen on the stats from people.

Yup you are right gambling is luck base game and you can really profit with it but it is risky and can sometimes makes you lose than winning much and I think that gambling stat will not do much because it is a random stat that you will get in gambling.

[Betwrong]

What if there is a PvP game you can play with 0% House Rake.
Even better, the game is 50/50 Luck/Skills.

A skilled player would always come on top I the long run.
We see it happen. 

Yes it happen sometimes but you know for every "skilled player" there is at least one player who is skilled just a little bit more. So you are in profit only until the day you meet that player.

[DiamondCardz]

Of course it's possible, but threads with titles like these are basically clickbait. As long as there is a house edge, as time proceeds onwards your chance of making a profit will tend towards 0. That's just how it is.

[pocarime32]

What if there is a PvP game you can play with 0% House Rake.
Even better, the game is 50/50 Luck/Skills.

A skilled player would always come on top I the long run.
We see it happen. 

Yeah you are right. Even with player skill, Luck also needed especially on poker. But i'm curious, how casino get profit from poker ? I mean poker is player vs player and casino only the place for play.

[Altcoinsupporter]

This is possible for a select few. That's why there are just a handful of full time players.
Most of us are not meant to be full time gamblers unless we have unlimited funds to lose

[BitcoinRevolvers]

What if there is a PvP game you can play with 0% House Rake.
Even better, the game is 50/50 Luck/Skills.

A skilled player would always come on top I the long run.
We see it happen. 

Yes it happen sometimes but you know for every "skilled player" there is at least one player who is skilled just a little bit more. So you are in profit only until the day you meet that player.

That is true.

But you don't have to be The Best Player.
You just have to be better than most.

[hejaes]

Gambling can profitable in the long run. If you do have the right mindset and the set of skills required by the type of gambling your using, you could turn a hobby of yours to a side income, or even, for the best of gamblers, your main income.

[bagyo44]

Gambling can profitable in the long run. If you do have the right mindset and the set of skills required by the type of gambling your using, you could turn a hobby of yours to a side income, or even, for the best of gamblers, your main income.

luck is always important everywhere not only in gambling. but the effect of luck is just more noticeable in gambling.