Betting strategy question

[Fredomago]

~snip~
Yes, people who are looking for income from gambling always think mathematically and are always looking for any strategy to beat the bookie, no matter how many strategies and scenarios fail to be able to win against the bookie, thinking about whether it is possible for the bookie to let someone win big from their site and whether There has been a history that casinos went bankrupt because someone won big money there.

I think it's hard to find history about it, the fact is that the dealer will always win even though we are good at calculating mathematically and coming up with any strategy, the key is only in how we control ourselves and set our mindset in playing gambling no matter what strategy will be used or produced in trials .

I don't think they always think mathematically, because if you do it, then you'll realize gambling has a negative expected return.

Basically, you will lose all your betting money eventually if you continue playing because the casino has advantage in the odds.

The only way to continue playing has to be non-mathematical, like emotional for example.

And you can't remove that fact, house edge will continue killing you unless you have that long lasted luck that will allow you to win from time to time, but it's again questionable as there's no lasting luck in terms of gambling, it's more on how you control yourself especially your emotions when playing, with good control and sets of limitation maybe you will be able to earn some from each session that you will going to play.

[Apocollapse]

And you can't remove that fact, house edge will continue killing you unless you have that long lasted luck that will allow you to win from time to time, but it's again questionable as there's no lasting luck in terms of gambling, it's more on how you control yourself especially your emotions when playing, with good control and sets of limitation maybe you will be able to earn some from each session that you will going to play.

If we talk about a long term prospect, we as a gambler will always lose. But if we talk about a short term prospect, we as a gambler could win some because bad luck isn't happen everyday. Just remember, before gambling we should know gambling is for entertain and never consider gambling as a daily income.

The only way to continue playing has to be non-mathematical, like emotional for example.

That's why many gambler turn become a gambling addict because he lead his emotion to control his gambling activity.

[pawel7777]

And you can't remove that fact, house edge will continue killing you unless you have that long lasted luck that will allow you to win from time to time, but it's again questionable as there's no lasting luck in terms of gambling, it's more on how you control yourself especially your emotions when playing, with good control and sets of limitation maybe you will be able to earn some from each session that you will going to play.

The first and second part of your post seem to be contradictive. If the house edge is the reason for players to be losing money, then how will controlling their emotions make things any different? It could be preventing them from getting carried away and losing more money, but it won't shift the edge in their favour.

I think hoping for a "good luck" is what makes people keep gambling, as pretty much everyone is aware that the odds are stacked against them. Some people don't even care about the house edge. Many games (online or physical) don't even have any disclosure on what the house edge is (e.g. many slots games) and often times even a customer service won't be able to tell you if you ask.

[SirLancelot]

I don't think they always think mathematically, because if you do it, then you'll realize gambling has a negative expected return.

Basically, you will lose all your betting money eventually if you continue playing because the casino has advantage in the odds.

The only way to continue playing has to be non-mathematical, like emotional for example.

Not always, but they never think mathematically, because as you said, if someone thinks mathematically and calculates the results even before gambling, they would know that it is not going to provide them with any income because winnings in gambling cannot be constant, you might lose constantly but you can't win constantly in gambling because of the house edge which is why they say that the house always wins.

Those people who take gambling as a way to earn income are emotional and have no control over their emotions at all and that is the reason why they barely get anything out of the money they put into their gambling activities because someone with enough control would stop when they are losing constantly and try their luck later with the same money which is a wise decision.

[pawel7777]

Not always, but they never think mathematically, because as you said, if someone thinks mathematically and calculates the results even before gambling, they would know that it is not going to provide them with any income because winnings in gambling cannot be constant, you might lose constantly but you can't win constantly in gambling because of the house edge which is why they say that the house always wins.

Those people who take gambling as a way to earn income are emotional and have no control over their emotions at all and that is the reason why they barely get anything out of the money they put into their gambling activities because someone with enough control would stop when they are losing constantly and try their luck later with the same money which is a wise decision.

I would imagine that the portion of gamblers who are aiming for constant profits or even are hoping to make a living out of it is probably very small. Those who do, will likely have some idea of how can they "beat the system" and would not rely solely on luck. For the rest of the gamblers, they're probably thinking of themselves as occasional gamblers, and as such would not even bother to even think about long-term consequences or try to come up with some sort of winning strategy. But what starts as a fun, once-in-a-while activity, can imperceptibly turn into a dangerous and financially-draining habit.
But yeah, if one wants to place an occasional wager on their favourite team just to get more kicks out of watching a game, then they won't be diving deep into analysing odds etc

[klidex]

And you can't remove that fact, house edge will continue killing you unless you have that long lasted luck that will allow you to win from time to time, but it's again questionable as there's no lasting luck in terms of gambling, it's more on how you control yourself especially your emotions when playing, with good control and sets of limitation maybe you will be able to earn some from each session that you will going to play.

As I always do in sports betting with strict control or self-control when I bet with a capital of $ 50 and get a profit of $ 20 and then bet again using my profit of $ 20 without involving my initial capital.
So that when it's unlucky for the club I chose to lose I won't feel like I'm losing because I still have an initial capital of $50 and I will do that continuously with full control.

[pawel7777]

As I always do in sports betting with strict control or self-control when I bet with a capital of $ 50 and get a profit of $ 20 and then bet again using my profit of $ 20 without involving my initial capital.
So that when it's unlucky for the club I chose to lose I won't feel like I'm losing because I still have an initial capital of $50 and I will do that continuously with full control.[/left]

I understand where you're coming from and can relate to that, as I was using a similar tactic back in the day. But the truth is, this is a good example of how to NOT approach gambling. As you yourself said, this approach would not make you feel like losing - meaning it's based on emotions and feelings.
What you should be aiming at, is an emotionless, cold-calculated approach, i.e. it doesn't matter if that $20 was previously won, earned, or if your grandma gave it to you, that's completely irrelevant.

[doomloop]

And you can't remove that fact, house edge will continue killing you unless you have that long lasted luck that will allow you to win from time to time, but it's again questionable as there's no lasting luck in terms of gambling, it's more on how you control yourself especially your emotions when playing, with good control and sets of limitation maybe you will be able to earn some from each session that you will going to play.

The first and second part of your post seem to be contradictive. If the house edge is the reason for players to be losing money, then how will controlling their emotions make things any different? It could be preventing them from getting carried away and losing more money, but it won't shift the edge in their favour.

I think hoping for a "good luck" is what makes people keep gambling, as pretty much everyone is aware that the odds are stacked against them. Some people don't even care about the house edge. Many games (online or physical) don't even have any disclosure on what the house edge is (e.g. many slots games) and often times even a customer service won't be able to tell you if you ask.

I think what he means, is that we will take a break first. I tried it and I can see that I'm doing well than if I gamble all my balance all the way. The catch is, I can only do this if I am lucky to win a nice amount but if my sessions starts as a loss, I can't help but to just continue. My balance was only small anyway so I think it's useless if I will stop.

Other than hoping for a good luck, people also play for a good time. For those who play the other way, odds are important for them. It would be better for a casino to be transparent and display them and it's better to be fair or have a small odds only because those who play for profit will always consider this.

[freedomgo]

As I always do in sports betting with strict control or self-control when I bet with a capital of $ 50 and get a profit of $ 20 and then bet again using my profit of $ 20 without involving my initial capital.
So that when it's unlucky for the club I chose to lose I won't feel like I'm losing because I still have an initial capital of $50 and I will do that continuously with full control.[/left]

I understand where you're coming from and can relate to that, as I was using a similar tactic back in the day. But the truth is, this is a good example of how to NOT approach gambling. As you yourself said, this approach would not make you feel like losing - meaning it's based on emotions and feelings.
What you should be aiming at, is an emotionless, cold-calculated approach, i.e. it doesn't matter if that $20 was previously won, earned, or if your grandma gave it to you, that's completely irrelevant.

That is exactly the thing, even if we say that we only gamble our profits and didn't include our capital, we are not taking things seriously because we do know that we still have the capital left and thought that it's not really a big deal if we lose this next bet or not. But in reality, that was already a wrong mindset as we won't get to where we are planning if we are thinking about it, instead we should learn from it and be mindful that the approach wasn't successful, so it's time to change it as well as the mindset.

[slapper]

Not always, but they never think mathematically, because as you said, if someone thinks mathematically and calculates the results even before gambling, they would know that it is not going to provide them with any income because winnings in gambling cannot be constant, you might lose constantly but you can't win constantly in gambling because of the house edge which is why they say that the house always wins.

Those people who take gambling as a way to earn income are emotional and have no control over their emotions at all and that is the reason why they barely get anything out of the money they put into their gambling activities because someone with enough control would stop when they are losing constantly and try their luck later with the same money which is a wise decision.

I would imagine that the portion of gamblers who are aiming for constant profits or even are hoping to make a living out of it is probably very small. Those who do, will likely have some idea of how can they "beat the system" and would not rely solely on luck. For the rest of the gamblers, they're probably thinking of themselves as occasional gamblers, and as such would not even bother to even think about long-term consequences or try to come up with some sort of winning strategy. But what starts as a fun, once-in-a-while activity, can imperceptibly turn into a dangerous and financially-draining habit.
But yeah, if one wants to place an occasional wager on their favourite team just to get more kicks out of watching a game, then they won't be diving deep into analysing odds etc

Yet, statistics seem to suggest the lines blur...somewhat! Those who think they can "beat the system"... well, statistically speaking, it's likely they're fooling themselves. Even the most advanced algorithms and systems are no match for the unpredictability inherent in gambling. In regards to your point about the "occasional gambler", I'd argue the "imperceptibility" of their transition into a problematic habit could be due to the nature of gambling itself. It's designed to be enjoyable, social even, which ironically can mask the potential harm. You're right that for those placing a bet on their favourite team, deep analysis of odds might be the last thing on their minds. Yet, it's precisely this casual attitude that can create a slippery slope. The danger is, when does this "occasional wager" shift from being a source of excitement to a financial drain or worse, an addiction?

[LUCKMCFLY]

^

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.

I can't avoid sometimes using the martingale strategy, because it's a very reckless strategy, but I only use it twice, and if I see that I lose I don't use it anymore and I change strategy, two times for me is the maximum number because that's how I feel I realize if the strategy I use is correct or not, then I change it completely, I don't focus on what I'm losing, my mind tries to change the thought to focus only on the logic of the game, for example in the dice, I see If what falls is eI can't help but sometimes use the martingale strategy, because it's a very reckless strategy, but I only use it twice, and if I see that I lose I don't use it anymore and I change the strategy, twice for me is the maximum number because that's how I feel I realize if the strategy I use is correct or not, then I change it completely, I don't focus on what I'm losing, my mind tries to change the thinking to focus only on the logic of the game, for example on dice, I see if what falls is even, odd even, and if I change, or if the number is higher or lower, never for the Hi, the Low, because that way I lost faster.

As well as this there are many more strategies, I have tried with a 3x and 5x multiplier and with a 7x things get more complicated, you must have a large balance to endure the number of losses but it is something very reckless, nothing adequate For the faint of heart, when you win once you have to stay quiet, because things are strong.en, odd even, and if I change, or if the number is higher or lower, never for the Hi, the Low, because that is how I lost faster.

[pawel7777]

That is exactly the thing, even if we say that we only gamble our profits and didn't include our capital, we are not taking things seriously because we do know that we still have the capital left and thought that it's not really a big deal if we lose this next bet or not. But in reality, that was already a wrong mindset as we won't get to where we are planning if we are thinking about it, instead we should learn from it and be mindful that the approach wasn't successful, so it's time to change it as well as the mindset.

There shouldn't really be any distinction between the capital and the current profits (from gambling or other). It all should be viewed as one pool of funds.
I think the best way in making financial decisions would be to develop an almost autistic approach when the past (so i.e. the origins of the funds) is irrelevant and you only consider two things: 1) how much funds have I got available; and 2) what's the best way to do with it (invest, spend, gamble etc).

[Josefjix]

As I always do in sports betting with strict control or self-control when I bet with a capital of $ 50 and get a profit of $ 20 and then bet again using my profit of $ 20 without involving my initial capital.
So that when it's unlucky for the club I chose to lose I won't feel like I'm losing because I still have an initial capital of $50 and I will do that continuously with full control.[/left]

Your betting approach is reliable, but losses are constantly waiting to derail our plans, which we will make certain never happens. In the preceding example, $50 gains can result in $20 profits, which will be reinvested into gambling in order to obtain additional profits. The key to excellence is always self-control and ambitious goals. We must be patient in our desires, taking things one step at a time. As we are confident in our forecasts, let us hope that the club does not disappoint us with defeats. When it comes to losing, even the best clubs will lose on that given day, so constantly prepare your mind to confront anything.

[ethereumhunter]

As I always do in sports betting with strict control or self-control when I bet with a capital of $ 50 and get a profit of $ 20 and then bet again using my profit of $ 20 without involving my initial capital.
So that when it's unlucky for the club I chose to lose I won't feel like I'm losing because I still have an initial capital of $50 and I will do that continuously with full control.[/left]

Your betting approach is reliable, but losses are constantly waiting to derail our plans, which we will make certain never happens. In the preceding example, $50 gains can result in $20 profits, which will be reinvested into gambling in order to obtain additional profits. The key to excellence is always self-control and ambitious goals. We must be patient in our desires, taking things one step at a time. As we are confident in our forecasts, let us hope that the club does not disappoint us with defeats. When it comes to losing, even the best clubs will lose on that given day, so constantly prepare your mind to confront anything.

The important thing is not to be greedy when we have managed to bet enough and it's better to stop immediately before the defeat comes on the next bet. It also includes good self-control so that after winning several times, we immediately stop and don't risk another defeat. And even though we know we can pick a team in another game, we're not trying to chase bigger wins because we've already had wins. There is still tomorrow to bet on; who knows, our chances of winning will be even greater than today.

[Altryist]

There shouldn't really be any distinction between the capital and the current profits (from gambling or other). It all should be viewed as one pool of funds.
I think the best way in making financial decisions would be to develop an almost autistic approach when the past (so i.e. the origins of the funds) is irrelevant and you only consider two things: 1) how much funds have I got available; and 2) what's the best way to do with it (invest, spend, gamble etc).

I am of the opinion that all budgets should be separated, your business budget, your own budget and of course the gaming budget should be separate. Only in this way will you be able to properly analyze what you spend where. And if you mix everything into one budget, then it will be very difficult to figure it out, and you will have more opportunities to lose more money if you do not limit yourself in this, just for gambling.

[carlisle1]

There shouldn't really be any distinction between the capital and the current profits (from gambling or other). It all should be viewed as one pool of funds.
I think the best way in making financial decisions would be to develop an almost autistic approach when the past (so i.e. the origins of the funds) is irrelevant and you only consider two things: 1) how much funds have I got available; and 2) what's the best way to do with it (invest, spend, gamble etc).

I am of the opinion that all budgets should be separated, your business budget, your own budget and of course the gaming budget should be separate. Only in this way will you be able to properly analyze what you spend where. And if you mix everything into one budget, then it will be very difficult to figure it out, and you will have more opportunities to lose more money if you do not limit yourself in this, just for gambling.

Yeah right, from that logic of yours separating your funds is the best way to also find the balance with your money,
if you split things the right way, you'll be able to keep you safe from losing a lot.

With the portion where the money is allocated for gaming/gambling, you can start any strategy that you think will give you benefits.

Along the way, you are not worried about losing more money as you already allocated enough portion and not
to let anything to exceed from it.

[tusandii]

~snip~
Having boundaries and controlling yourself and your finances is the hardest thing most gamblers have to do.
I myself sometimes still get out of control and spend more money just to continue the game session.
However, there are several steps that can be taken for prevention, namely by only depositing a limited amount of money into the casino with the aim that we don't lose excessive amounts of money when we lose.
It's better to play gambling when the mind is calm because this can help us not to get out of control and get carried away by emotions.

It is an addiction after all.

Some people can't really handle any level of gambling, others can easily gamble a few times a year. Everyone is very different so you have to do whatever works for yourself.

Sometimes that works for one person doesn't work for the next one.

It's true that it is an addiction and everyone who gambles cannot escape addiction, it's just that we don't know when we will truly become gambling addicts if we don't immediately have boundaries and learn to cultivate self-control.
Everyone's abilities are different but if it is based on determination and intention then nothing is impossible.
At first I couldn't believe it and doubted I could do it, but after giving it a try and adding a great deal of desire, I have everything now.
So the most effective and useful strategy is to be able to limit yourself in all forms of gambling.

[retreat]

If we talk about a long term prospect, we as a gambler will always lose. But if we talk about a short term prospect, we as a gambler could win some because bad luck isn't happen everyday. Just remember, before gambling we should know gambling is for entertain and never consider gambling as a daily income.

I don't agree with your statement. In my opinion, only some gamblers whose ratio of losses is greater than their ratio of wins, because gambling is not only a matter of luck, but a matter of analysis and time. Some gamblers use analysis on their games and this is what makes them win and even make gambling their main source of income, because they already know the flow of the game.

[pawel7777]

There shouldn't really be any distinction between the capital and the current profits (from gambling or other). It all should be viewed as one pool of funds.
I think the best way in making financial decisions would be to develop an almost autistic approach when the past (so i.e. the origins of the funds) is irrelevant and you only consider two things: 1) how much funds have I got available; and 2) what's the best way to do with it (invest, spend, gamble etc).

I am of the opinion that all budgets should be separated, your business budget, your own budget and of course the gaming budget should be separate. Only in this way will you be able to properly analyze what you spend where. And if you mix everything into one budget, then it will be very difficult to figure it out, and you will have more opportunities to lose more money if you do not limit yourself in this, just for gambling.

I'm not advocating for throwing all the money into one pot and going all in on one thing. Of course you need to budget for all life expenses and carefully plan to achieve your financial goals.
Personally, I do have multiple special purpose reserves (house repairs, holiday fund, car maintenance fund etc) and diversify my investments. But at the same time, I'm looking at it as one big fund and periodically would evaluate it to make sure I manage it in the most optimal way (to the best of my abilities). For example, I have separate funds for investing, but that doesn't mean I cannot also invest money held as a house repair fund. It doesn't make sense to keep it on a low-interest bank account and watch it get eaten by high inflation.

Back to the subject of gambling - what does it even mean to have your money split as "your own budget" and "the gaming budget"? Obviously your gaming budget should be a part of your own budget, unless you're gambling with other people's money. And what's the point of having a hard split (other than to make yourself feel better)? If your gaming budget is low or drained, but you spot an amazing betting opportunity - are you not going to take it (provided you have other funds and can afford to risk them)? Or if your gaming budget grows big (by luck) and you have a great investment opportunity - are you not going to take it just because you earmarked that money for gambling?

[Fivestar4everMVP]

If we talk about a long term prospect, we as a gambler will always lose. But if we talk about a short term prospect, we as a gambler could win some because bad luck isn't happen everyday. Just remember, before gambling we should know gambling is for entertain and never consider gambling as a daily income.

I don't agree with your statement. In my opinion, only some gamblers whose ratio of losses is greater than their ratio of wins, because gambling is not only a matter of luck, but a matter of analysis and time. Some gamblers use analysis on their games and this is what makes them win and even make gambling their main source of income, because they already know the flow of the game.

You are right, he made a mistake by generalizing his statement., it is true, not all gamblers will lose in the long term, there are many gamblers who (like you said) their ability to correctly predict the outcome of several games, have put them on the winning side long term, that is, theyve sat, watched, studied, read, analyzed games for several years and now, have become so good that out of 10 games they bet on, they probably might just be losing like 2 or 3 games, the rest is a win for them..

Though the number of gambler on the above category is not very many, as compared to those who will lose on the long terms,, but still  a prove that some gamblers still win long term.