Betting strategy question

[Doan9269]

Everyone has his own developed strategy together with the ones he has learnt from other gamblers experience, the thing that we are not being sure about is the fact that we don't know what may come in after using a particular recommendation or strategy when gambling, the common thing is the risk where everyone gambling is never too late for, we take the courage for risk on things that are uncertainties while gambling using a particular pattern or strategy, at the end of it all, we take the result as it is and embrace the consequences as an additional learning avenue for us.

[pawel7777]

Everyone has his own developed strategy together with the ones he has learnt from other gamblers experience,

Not everyone. I'd risk an opinion that vast majority of gamblers do not have any strategy at all. And good strategy is based on math, relying on own or other people's experience is not needed.

the thing that we are not being sure about is the fact that we don't know what may come in after using a particular recommendation or strategy when gambling,

Again, good strategy should help you predict the expected result and reduce uncertainty as opposed to playing with no strategy.

[Fivestar4everMVP]

Everyone has his own developed strategy together with the ones he has learnt from other gamblers experience, the thing that we are not being sure about is the fact that we don't know what may come in after using a particular recommendation or strategy when gambling, the common thing is the risk where everyone gambling is never too late for, we take the courage for risk on things that are uncertainties while gambling using a particular pattern or strategy, at the end of it all, we take the result as it is and embrace the consequences as an additional learning avenue for us.

Well, one thing I am personally sure of is that, gambling is not trading, and can never be like trading, strategies work well in trading, in such a way that if at the end, the trade did not end in profit, the trader has the liberty to investigate his or her strategy to ascertain where exactly the mistake which caused the loss came from, but in gambling, there is no known or official strategy, what most of us assume to be a gambling strategy is not a strategy in real sense, but more like an assist, for example, many gambler mistake martingale to be a gambling strategy, but in real sense, it's not a strategy but an assist, martingale can assist a gambler to win more money, but does not add a single percentage to the gambler's chances of winning the bet in the first place.

[pawel7777]

Well, one thing I am personally sure of is that, gambling is not trading, and can never be like trading, strategies work well in trading, in such a way that if at the end, the trade did not end in profit, the trader has the liberty to investigate his or her strategy to ascertain where exactly the mistake which caused the loss came from, but in gambling, there is no known or official strategy, what most of us assume to be a gambling strategy is not a strategy in real sense, but more like an assist, for example, many gambler mistake martingale to be a gambling strategy, but in real sense, it's not a strategy but an assist, martingale can assist a gambler to win more money, but does not add a single percentage to the gambler's chances of winning the bet in the first place.

Lets not re-invent words. Strategy is a broad term and could be roughly described as plan of action. As such martingale is a gambling strategy, because you'd be betting in a specific pattern (the plan). It's also widely described as a betting strategy, so I have no clue what are trying to achieve by attempting to change well established definitions.

Also, a strategy doesn't mean something good. There are a lot of bad strategies out there, martingale being one of them, and I think everyone in this thread knows that it is unlikely to help you win more money.

[madnessteat]

^

I absolutely agree with you. Martingale strategy is one of the best strategies to confuse the gambler and convince him that he can use it to beat the casino.

In fact, none of the strategies in the long term will not work in favor of the gambler, because mathematically the casino will always have an advantage, so learn to gamble for fun, not to win.

[pawel7777]

I absolutely agree with you. Martingale strategy is one of the best strategies to confuse the gambler and convince him that he can use it to beat the casino.

It 100% works. You "only" need an infinite amount of money, time and a game with no bet limits 

In fact, none of the strategies in the long term will not work in favor of the gambler, because mathematically the casino will always have an advantage, so learn to gamble for fun, not to win.

Not quite true. You could be hunting for opportunities when the advantage shifts to your side, e.g. large jack-pot cumulation, arbitrage betting or looking for bets with miscalculated odds. Those opportunities are not easy to come by, but they happen.

[nullama]

~snip~
I absolutely agree with you. Martingale strategy is one of the best strategies to confuse the gambler and convince him that he can use it to beat the casino.

In fact, none of the strategies in the long term will not work in favor of the gambler, because mathematically the casino will always have an advantage, so learn to gamble for fun, not to win.

Yeah, it's just part of the whole fantasy that some gamblers like to live in. They think that by using some models they can outsmart the casino, when in reality the casino is just laughing all the way to the bank with their money.

Gambling is not a way to make money, it's just entertainment. The only people making money are the casinos.

[bittraffic]

~snip~
I absolutely agree with you. Martingale strategy is one of the best strategies to confuse the gambler and convince him that he can use it to beat the casino.

In fact, none of the strategies in the long term will not work in favor of the gambler, because mathematically the casino will always have an advantage, so learn to gamble for fun, not to win.

Yeah, it's just part of the whole fantasy that some gamblers like to live in. They think that by using some models they can outsmart the casino, when in reality the casino is just laughing all the way to the bank with their money.

Gambling is not a way to make money, it's just entertainment. The only people making money are the casinos.

A gambler would like the strategy until a countless losing streak happens.  One couldn't really believe that after more than 10 bets he'd lose it all. But I think its one of the phase that a gambler will just need to go thru to learn the lesson. If you were fooled thinking you could win then you have listened to same people who wants us all lose.

[KTChampions]

~

In fact, none of the strategies in the long term will not work in favor of the gambler, because mathematically the casino will always have an advantage, so learn to gamble for fun, not to win.

Not quite true. You could be hunting for opportunities when the advantage shifts to your side, e.g. large jack-pot cumulation, arbitrage betting or looking for bets with miscalculated odds. Those opportunities are not easy to come by, but they happen.

Speaking formally, this is not gambling. If we find an arbitrage bet, then we don't care about the odds and who plays what. Similarly with bonuses - sometimes the casino "works" at a loss during such promotions, but we all understand that when the promotion ends, then the "chance to beat the casino" ends too.
I am not opposed to making money on near-gambling activities, but formally this is not making money on gambling.

[carlisle1]

~snip~
I absolutely agree with you. Martingale strategy is one of the best strategies to confuse the gambler and convince him that he can use it to beat the casino.

In fact, none of the strategies in the long term will not work in favor of the gambler, because mathematically the casino will always have an advantage, so learn to gamble for fun, not to win.

Yeah, it's just part of the whole fantasy that some gamblers like to live in. They think that by using some models they can outsmart the casino, when in reality the casino is just laughing all the way to the bank with their money.

Gambling is not a way to make money, it's just entertainment. The only people making money are the casinos.

A gambler would like the strategy until a countless losing streak happens.  One couldn't really believe that after more than 10 bets he'd lose it all. But I think its one of the phase that a gambler will just need to go thru to learn the lesson. If you were fooled thinking you could win then you have listened to same people who wants us all lose.

Yeah right, that argument describes how most gamblers think about gambling, thinking that they can find the best strategy to keep
winning their bets. For some reason, they manage to win and they wanted to keep repeating it.

But when the time comes, when losing streak start to hit back and there's nothing in any strategy that they use works. They will realize
that it's just a dream and there's nothing they can do but to accept that losses and quit away while they can still.

Or, worse can happen to them and they become addicted while trying to form that working strategy inside their minds.

[klidex]

Everyone has his own developed strategy together with the ones he has learnt from other gamblers experience, the thing that we are not being sure about is the fact that we don't know what may come in after using a particular recommendation or strategy when gambling, the common thing is the risk where everyone gambling is never too late for, we take the courage for risk on things that are uncertainties while gambling using a particular pattern or strategy, at the end of it all, we take the result as it is and embrace the consequences as an additional learning avenue for us.

But taking too much risk by implementing someone else's strategy is one of the wrong ways for me.
I admit that big wins will come for someone who dares to take risks, but the problem is that the strategies given by other people are sometimes not right.
If this fails it will be a valuable lesson but I prefer to use our own strategy with lower risk.

[nullama]

~snip~

But taking too much risk by implementing someone else's strategy is one of the wrong ways for me.
I admit that big wins will come for someone who dares to take risks, but the problem is that the strategies given by other people are sometimes not right.
If this fails it will be a valuable lesson but I prefer to use our own strategy with lower risk.

It doesn't matter who "invented" or told you about the strategy. It's all just maths in the end and the expected value of gambling is negative, no matter what you do.

This means that in the long term, if you keep betting, you will lose money.

The only way to win against the casino is to stop forever after you win a large enough sum that covers all your costs, but the probability of that happening is extremely small. And after a gambler wins that big they are usually very excited and continue betting until they lose it all.

[Blitzboy]

~snip~

But taking too much risk by implementing someone else's strategy is one of the wrong ways for me.
I admit that big wins will come for someone who dares to take risks, but the problem is that the strategies given by other people are sometimes not right.
If this fails it will be a valuable lesson but I prefer to use our own strategy with lower risk.

It doesn't matter who "invented" or told you about the strategy. It's all just maths in the end and the expected value of gambling is negative, no matter what you do.

This means that in the long term, if you keep betting, you will lose money.

The only way to win against the casino is to stop forever after you win a large enough sum that covers all your costs, but the probability of that happening is extremely small. And after a gambler wins that big they are usually very excited and continue betting until they lose it all.

Its interesting how you've boiled down the complexity of gambling to a matter of mathematics and probability. Your logic is sound; the house always has the edge, and the expected value of gambling is indeed negative in the long term.

However, could it be that your perspective is too deterministic? Gambling also involves elements of psychology and human behaviour that may not be so easily quantifiable. The thrill of the game, the intoxication of risk, the hope against hope that the next bet will be the big win—these are factors that motivate people to gamble despite the odds.

That being said, your advice about quitting after a big win is statistically sound, yet ironically, it is this very thrill of winning that keeps the gamblers hooked. Its a paradox, isnt it?

[Beparanf]

~snip~

But taking too much risk by implementing someone else's strategy is one of the wrong ways for me.
I admit that big wins will come for someone who dares to take risks, but the problem is that the strategies given by other people are sometimes not right.
If this fails it will be a valuable lesson but I prefer to use our own strategy with lower risk.

It doesn't matter who "invented" or told you about the strategy. It's all just maths in the end and the expected value of gambling is negative, no matter what you do.

This means that in the long term, if you keep betting, you will lose money.

The only way to win against the casino is to stop forever after you win a large enough sum that covers all your costs, but the probability of that happening is extremely small. And after a gambler wins that big they are usually very excited and continue betting until they lose it all.

Its interesting how you've boiled down the complexity of gambling to a matter of mathematics and probability. Your logic is sound; the house always has the edge, and the expected value of gambling is indeed negative in the long term.

That’s how gambling games design. House edge is the thing that makes it a reality because casino always have the advantage on every bet that you will place so it’s really disadvantageous to bet long term because those small percentage of house edge will get bigger if you play tons of bets and you can add up a losing streak.

Gambling purpose is for entertainment just like what responsible gambling terms stated by every casino. Casino is not a source of income.

[nullama]

~snip~
That’s how gambling games design. House edge is the thing that makes it a reality because casino always have the advantage on every bet that you will place so it’s really disadvantageous to bet long term because those small percentage of house edge will get bigger if you play tons of bets and you can add up a losing streak.

Gambling purpose is for entertainment just like what responsible gambling terms stated by every casino. Casino is not a source of income.

Absolutely right.

It's kind of like alcohol, it cannot be the only source of happiness and fun in your life, otherwise you would be addicted to it.

[masulum]

-snip
And after a gambler wins that big they are usually very excited and continue betting until they lose it all.

Well, As we know, not only winning can trigger someone to gamble. When he tries and loses, if he loses $100, maybe try for another $100, if he still loses on the 3rd, I think at that point he will start playing looking for a win. So, whether he get to win or lose, if he can't control himself, then he will continue to play, even when he run out of money, he will still be waiting for the time to have the next opportunity to play again. The bad thing is, when he win, he can't cover all that lost already, and this player will continue to gamble to make a new target for sure, such us playing to get win until can return all the money you have lost, although maybe this is hard to believe, until get a jackpot with high bets.

[piebeyb]

-snip
And after a gambler wins that big they are usually very excited and continue betting until they lose it all.

Well, As we know, not only winning can trigger someone to gamble. When he tries and loses, if he loses $100, maybe try for another $100, if he still loses on the 3rd, I think at that point he will start playing looking for a win. So, whether he get to win or lose, if he can't control himself, then he will continue to play, even when he run out of money, he will still be waiting for the time to have the next opportunity to play again. The bad thing is, when he win, he can't cover all that lost already, and this player will continue to gamble to make a new target for sure, such us playing to get win until can return all the money you have lost, although maybe this is hard to believe, until get a jackpot with high bets.

Gamblers who can't control themselves will keep playing until they really run out of money, many gamblers who get a $100 win make them happy even though they lost $1000 before, after all it's hard to catch up on the money that has been lost from losing, so if you want to keep chasing it will make someone an addict because they will continue to bet hoping to return all the losses.

But if gamblers are more focused on having fun then any win will be considered a bonus because according to them satisfaction and pleasure are their main goals for playing gambling, the fact is that people like that don't care about experiencing any defeat as long as they can still control it, everything will definitely be fine. 

[len01]

-snip
And after a gambler wins that big they are usually very excited and continue betting until they lose it all.

Well, As we know, not only winning can trigger someone to gamble. When he tries and loses, if he loses $100, maybe try for another $100, if he still loses on the 3rd, I think at that point he will start playing looking for a win. So, whether he get to win or lose, if he can't control himself, then he will continue to play, even when he run out of money, he will still be waiting for the time to have the next opportunity to play again. The bad thing is, when he win, he can't cover all that lost already, and this player will continue to gamble to make a new target for sure, such us playing to get win until can return all the money you have lost, although maybe this is hard to believe, until get a jackpot with high bets.

and when hitting the jackpot with high stakes, the person will not be able to stop gambling because in his mind will always think about winning bigger and more. someone who is already like that can never stop unless he loses everything he has or goes bankrupt.

btw here it is very important that the betting strategy used to manage the losses that must be obtained, such as gambling responsibly and always planning a budget for gambling and of course choosing the type of game that has a low house edge. with this strategy it might be able to prevent someone from getting worse.

[pawel7777]

Gamblers who can't control themselves will keep playing until they really run out of money

If only. The ones with serious gambling addiction won't stop even at that. When they run out of money they'd often choose to go into debt, pawn their car or other items, borrow from family, or even steal from the close ones.
It's a serious condition and I find it hard to have any sort of respect for a business that would try to capitalise on that.

But if gamblers are more focused on having fun then any win will be considered a bonus because according to them satisfaction and pleasure are their main goals for playing gambling, the fact is that people like that don't care about experiencing any defeat as long as they can still control it, everything will definitely be fine. 

That's a different category, those who only visit casino during a night-out with friends are probably safe from any life-changing losses, but there are also a lot of people, often elderly pensioners, who visit casinos as they have no real alternatives for having "fun". That's pretty sad really.

[bitzizzix]

Gamblers who can't control themselves will keep playing until they really run out of money

If only. The ones with serious gambling addiction won't stop even at that. When they run out of money they'd often choose to go into debt, pawn their car or other items, borrow from family, or even steal from the close ones.
It's a serious condition and I find it hard to have any sort of respect for a business that would try to capitalise on that.

But if gamblers are more focused on having fun then any win will be considered a bonus because according to them satisfaction and pleasure are their main goals for playing gambling, the fact is that people like that don't care about experiencing any defeat as long as they can still control it, everything will definitely be fine.  

That's a different category, those who only visit casino during a night-out with friends are probably safe from any life-changing losses, but there are also a lot of people, often elderly pensioners, who visit casinos as they have no real alternatives for having "fun". That's pretty sad really.

Chronic addicts will do anything to get money just to gamble once there is no other way to get the money, once there is no one they can trust to lend to, once there is nothing left to pawn or sell. Crime will cross their mind, and without much thought and all they have on their mind is money to gamble. And I think there are a lot of cases like that and when they get caught, they will tell the results to give vent to their addiction.

and gamble just for fun because I think going to casinos is fun. It's not something I do often, as my current financial situation doesn't allow it. But there's something about the casino environment that I find energizing, and it's not unlike going out to a nightclub and spending a few bucks to have a good time.