Gamblers that don't understand basic gambling concepts.

[Don Pedro Dinero]

For some time now I have seen in this section of the forum a not small percentage of gamblers who do not understand basic statistical concepts of mathematics applied to gambling, such as Return to Player or Expected Value. As a result, it is not surprising that every now and then we see someone who thinks he has found a good system to win casino games by applying some variant of the Martingale. This is despite the fact that these are not complicated concepts and the information is easily accessible to everyone, it is not like 30 years ago. I would say that at least 25% of the people who write in this section fall into this category.

Do you have the same perception as me?

I think a lot of whiny threads of people telling how they ended up losing a lot more than they expected would be minimised if people understood these basic concepts. Although knowing the theory doesn't guarantee it 100% because we sometimes get carried away by emotions.

I am sure that some of those who think they understand these concepts but in reality do not will comment on this thread .

I wanted to point out that what strikes me is not so much that people do not know the concepts, but that they use them without understanding them. I see a lot of people talking about RTP and they don't know what it really means, they have the wrong concept.

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[klidex]

For some time now I have seen in this section of the forum a not small percentage of gamblers who do not understand basic statistical concepts of mathematics applied to gambling, such as Return to Player or Expected Value. As a result, it is not surprising that every now and then we see someone who thinks he has found a good system to win casino games by applying some variant of the Martingale. This is despite the fact that these are not complicated concepts and the information is easily accessible to everyone, it is not like 30 years ago. I would say that at least 25% of the people who write in this section fall into this category.

Do you have the same perception as me?

I think a lot of whiny threads of people telling how they ended up losing a lot more than they expected would be minimised if people understood these basic concepts. Although knowing the theory doesn't guarantee it 100% because we sometimes get carried away by emotions.

I am sure that some of those who think they understand these concepts but in reality do not will comment on this thread .

Gamblers who don't understand the concept of gambling only become part of the profit source for a casino site.
They play without having basic knowledge and precise calculations, so they only follow their way of thinking. However, losing and losing money is of course what they get, while the wins belong to the dealer or the casino owner himself.
So understanding and strategy in gambling is very important to have. Even though having an understanding or strategy does not guarantee a win, at least it can minimize the possibility of losing in gambling.

[Yatsan]

Instances resulting to such might be caused by the impression created by non-gamblers about this industry. Some people won big time to both land-based and online gambling casinos which I think made an image that winning is with ease  Some are even relying on their fate; selling their houses just to be able to play which is simply addiction. In terms of people wondering why they keep on losing, we do have choices;, to continue playing, to stop, or to play on different games in order to seek for thqt "sweetspot". Also, luck indeed plays a huge role in this industry but chances of losing could still be lessen
to some gambling games such as those which requires analogy wherein a player could do some research or background checking such as with sportsbetting. What I am trying to point out is, whether it is gambling concepts which are not understood or just gamblers' habits, winning won't be certain so players should adjust for themselves with limitations to avoid making unfortunate outcomes, worse. More of a preventive approach.

[TheUltraElite]

The only concept I understand is that the house always wins.

Keep that in mind and gradually your urge to gamble to make money will reduce. I consider gambling to be something that should be done only to have fun and spend some good time with friends and family at a tourist location but not as a compulsion to get away over your worldly problems.

Because most gamblers are impulsive to go for quick money which are EV- games, they will keep trickling down your money by gradual amounts unless you find yourself in the negative and then you will become desperate to win back your losses - another mistake. EV+ games are somewhat better in terms of trying to work out a prediction but again the luck factor comes in every now and then.

[Mauser]

For some time now I have seen in this section of the forum a not small percentage of gamblers who do not understand basic statistical concepts of mathematics applied to gambling, such as Return to Player or Expected Value. As a result, it is not surprising that every now and then we see someone who thinks he has found a good system to win casino games by applying some variant of the Martingale. This is despite the fact that these are not complicated concepts and the information is easily accessible to everyone, it is not like 30 years ago. I would say that at least 25% of the people who write in this section fall into this category.

Do you have the same perception as me?

I am not sure if the category of people who are struggling with the mathematics behind gambling is really 25%, I would expect it to be lower than that. But you are definitely true that some people have problems understanding the statistics behind it. Among my friends I know this phenomena well, a good friend of mine has only one strategy when it comes to Roulette. He observes the last 10 rolls and only bets when there is at least 5-6 times red or black in a row. Even though I am telling him every time that there are no trends in gambling, and that each new round is completely independent he doesn't believe me. For him it's clear that after 6 times in a row black it has to come red now. It's hard to change the ways of people and we shouldn't judge them too hard for it. If you think back in high school there where always students who hated maths and had problems understanding it.

[Darker45]

If we are to enter a casino as a mathematician or one who really reveres arithmetic or logic or statistics, there'd be less fun, or you'd even find it pointless to consider entering a casino, unless perhaps you are a math savant whose goal is to try bringing down the house.

Martingale, for example, is arithmetically proven to be an absurd strategy. Do we use it, though? I'd say yes. Many of those who are aware of why this system is ridiculous still use it every now and then.

And it's not even because we are emotionally carried away. It is simply because we submit to the fun and absurdity of gambling. Many of us here know that gambling is money, albeit not for us but for the casino. But are we stopping? No, we're enjoying.

[Wexnident]

I mean it's not exactly wrong to gamble without knowing whatever calculations are behind each move or the specific odds casinos set. Gambling is still and will always be an intended form of entertainment, and if people can enjoy it with/without including the necessity to study all the math-ish stuff, then it's perfectly fine. Besides, understanding it is just that, understanding it. It doesn't convert the original chances of 50/50 to 80/20 all of a sudden.

Some may just, you know, enjoy it as a game and not as anything more complicated. This is regardless of the fact that they complain about losses or whatnot. I mean, a person can have a 13-lose streak even with 50/50 odds and they'd definitely complain regardless of how it was still a completely possible scenario.

[cryptomaniac_xxx]

For some time now I have seen in this section of the forum a not small percentage of gamblers who do not understand basic statistical concepts of mathematics applied to gambling, such as Return to Player or Expected Value. As a result, it is not surprising that every now and then we see someone who thinks he has found a good system to win casino games by applying some variant of the Martingale. This is despite the fact that these are not complicated concepts and the information is easily accessible to everyone, it is not like 30 years ago. I would say that at least 25% of the people who write in this section fall into this category.

Do you have the same perception as me?

I think a lot of whiny threads of people telling how they ended up losing a lot more than they expected would be minimised if people understood these basic concepts. Although knowing the theory doesn't guarantee it 100% because we sometimes get carried away by emotions.

I am sure that some of those who think they understand these concepts but in reality do not will comment on this thread .

I would say that they understand, but the thing with gamblers is that they can't accept loses, so they will always find someone or something to blame. That's why you will hear them bitch around about how much money they lose or they make the same mistakes, or chase higher odds and thought that they are going to win.

So it's just normal though, they might understand the concept but still they try to beat the system because they thought they can. And when things go sour, then that's where you will hear them complain and this and that.

[coin-investor]

For some time now I have seen in this section of the forum a not small percentage of gamblers who do not understand basic statistical concepts of mathematics applied to gambling, such as Return to Player or Expected Value. As a result, it is not surprising that every now and then we see someone who thinks he has found a good system to win casino games by applying some variant of the Martingale. This is despite the fact that these are not complicated concepts and the information is easily accessible to everyone, it is not like 30 years ago. I would say that at least 25% of the people who write in this section fall into this category.

A friend hated me for telling him that all variations of martingale are useless, he just wants to play the martingale for fun even if he was losing he still hopes that in one of his sessions he will hit the jackpot and because of what I told him his belief was busted
some people do not want any statistics they just want to play based on what they believe in and what comes to their mind, that is why online casino businesses are booming because many players don't care about theories and statistics they just bet on their so-called methods and beliefs.

[robelneo]

Do you have the same perception as me?

I still encounter people who believe that martingale is a good method and doubling up method is a sound method to win in gambling, if they are open-minded I can explain why it's not going to work, but if not I let them know the truth later after they lose a lot.

I think a lot of whiny threads of people telling how they ended up losing a lot more than they expected would be minimised if people understood these basic concepts. Although knowing the theory doesn't guarantee it 100% because we sometimes get carried away by emotions.

Casinos support responsible gambling and they remind their players to be like that, but it's not the responsibility of the casinos for their players to be technicality educated about the basics of gambling to minimize their losses, you are on your own when it comes to this, gamblers will either find this out through their experience or when they seek the truth.

[Jating]

If people understand the concept of gambling that easy, then maybe there will be less gamblers as well?

The thing is even if they have this concepts in mind, I think they will still go and risk and maybe play to have some fun only, or maybe the only concept that they will hold is how lucky/unlucky they will be in they gamble. Even in we take for example sports betting, you only look at the odds for the favorite and the underdog, and yet the risk for the underdog is high but there are still people who are willing to take the risk and bet on that long shot.

[EarnOnVictor]

Do you have the same perception as me?

Yes, I do. I didn't know that some people like you are thinking in the same direction as I do, and I'd challenged many people on this forum and even offline to furnish me with a winning strategy/system of gambling. Instead of providing a constructive one, they would only be blabbering, which solves nothing. Nothing works for gambling except luck, and luck cannot be relied upon.

Even the martingale that many would be making reference to is not a system/strategy to me but a way of trying to outsmart betting through calculations.

[swogerino]

If people understand the concept of gambling that easy, then maybe there will be less gamblers as well?

The thing is even if they have this concepts in mind, I think they will still go and risk and maybe play to have some fun only, or maybe the only concept that they will hold is how lucky/unlucky they will be in they gamble. Even in we take for example sports betting, you only look at the odds for the favorite and the underdog, and yet the risk for the underdog is high but there are still people who are willing to take the risk and bet on that long shot.

If people understood those concepts,I mean if all gamblers would understand them straight away we would not have gambling addicts.In my beginning several years ago I was one of them who thought Martingale to work flawlessly only to find out soon that it didn't.

Also the return to player concept is usually wrongly understood,when it says 96% RTP it means that 96% would be returned to all players after a certain time or after a certain of hits and not that if you play 100 dollars you will get back 96 like many newbies assume.When people understand these concepts than these people do not become addicted at all,speaking from my personal experience,I play keeping these in mind and almost never get carried away.

[ethereumhunter]

Most gamblers don't want to think about complicated things like math or their percent chance of winning. If they play, they want to win but unfortunately, what happens is the opposite, where they get lost and this has to do with emotional factors that have triggered them to play longer. Maybe it's not a complicated concept but gamblers who want to have fun in gambling won't think much about that complicated stuff. And in the end, many gamblers lose and even so, most gamblers want to recover their losses.

[Saisher]

If people understand the concept of gambling that easy, then maybe there will be less gamblers as well?

And that is something that casinos don't want to happen, people will come to online casinos with the concept of what they learn from physical casinos, they are not aware of this house edge martingale and RTP all they know is its a game of chance if they stumble a method they will rely on it if they find success on that method, its when they reach a level of experience and maturity that they find out all these

basic statistical concepts of mathematics applied to gambling.

[Frankolala]

No matter how good we are in calculating the maths and understanding the gambling concept,the fact remains that we  must always loose more than we win. Most time we win 10%-20% of our money over a long period of time. You can not win the casino hedge house.

Just see gambling as an entertainment so that you can always have a budget for it and when you have exhausted it,you give a break. When you know the gambling concept of the game,you are playing,you will be deceived by confidence and before you know it,you will always want to chase your winnings,which might turn you into an addict.

[BobK71]

For some time now I have seen in this section of the forum a not small percentage of gamblers who do not understand basic statistical concepts of mathematics applied to gambling, such as Return to Player or Expected Value. As a result, it is not surprising that every now and then we see someone who thinks he has found a good system to win casino games by applying some variant of the Martingale. This is despite the fact that these are not complicated concepts and the information is easily accessible to everyone, it is not like 30 years ago. I would say that at least 25% of the people who write in this section fall into this category.

A friend hated me for telling him that all variations of martingale are useless, he just wants to play the martingale for fun even if he was losing he still hopes that in one of his sessions he will hit the jackpot and because of what I told him his belief was busted
some people do not want any statistics they just want to play based on what they believe in and what comes to their mind, that is why online casino businesses are booming because many players don't care about theories and statistics they just bet on their so-called methods and beliefs.

It is true that most of the gamblers are gambling without any statistics. As a result, they cannot survive gambling for a long time. There are some gamblers who keep a lot of emphasis on certain aspects of statistics, such as what many call the use of Martingale Method in gambling. I would say that if that were the case then everyone would be trying to choose this method. Not everyone will find success because every gambler's thinking will not be the same. But knowing some basic things must be obeyed by the gamblers. Even though we know that gambling mainly depends on luck.

[piebeyb]

I also often complain at every loss but that doesn't mean I don't understand the basic concept of gambling as OP thinks that gambling doesn't always win but will also lose, maybe this is what you mean from this thread, but I'm sure there are also some people who want telling their defeat is not because they don't understand the basic concept of gambling, they usually share experiences so that other people don't make the same mistake as them

[mindrust]

For some time now I have seen in this section of the forum a not small percentage of gamblers who do not understand basic statistical concepts of mathematics applied to gambling, such as Return to Player or Expected Value. As a result, it is not surprising that every now and then we see someone who thinks he has found a good system to win casino games by applying some variant of the Martingale. This is despite the fact that these are not complicated concepts and the information is easily accessible to everyone, it is not like 30 years ago. I would say that at least 25% of the people who write in this section fall into this category.

Do you have the same perception as me?

I think a lot of whiny threads of people telling how they ended up losing a lot more than they expected would be minimised if people understood these basic concepts. Although knowing the theory doesn't guarantee it 100% because we sometimes get carried away by emotions.

I am sure that some of those who think they understand these concepts but in reality do not will comment on this thread .

Shh... If people knew math, they wouldn't be gambling in the first place.  

The amount of work required just to make a constant income from gambling is not even worth it and these "strategies" (Arbitrage betting, EV betting etc) are already against the ToS of the casinos. Think about it, if you can generate a reliable streaming income from gambling, you are making the casino smaller. Why would the casino let that happen? They are also in the money making business. Would they want any competition from the players? Of course NO.

Players want the casino's money. The casino wants the players' money.

Everybody wants to win, nobody wants to lose  

Possible? Nope.

[pawel7777]

For some time now I have seen in this section of the forum a not small percentage of gamblers who do not understand basic statistical concepts ...

Let's not pretend that a huge chunk of people posting in gambling sections are not here only because of signature campaign requirements. As such, they don't have a 'natural' interest in the subject or desire to learn anything more advanced. They probably very rarely gamble at all.

The amount of work required just to make a constant income from gambling is not even worth it and these "strategies" (Arbitrage betting, EV betting etc) are already against the ToS of the casinos.
...

That's probably true in practice, but I can't imagine any casino would actually outright state in their T&Cs that Arbitrage/EV betting is disallowed. If anything, they'd wrap it up in some vague terminology.

But yeah, I've heard about physical casinos not allowing players to use martingale when playing roulette, even know the casino would still have an edge.

Think about it, if you can generate a reliable streaming income from gambling, you are making the casino smaller. Why would the casino let that happen? They are also in the money making business. Would they want any competition from the players? Of course NO.

Players want the casino's money. The casino wants the players' money.

Everybody wants to win, nobody wants to lose  

Possible? Nope.

It's a good case for peer-to-peer style gambling when odds are determined by amounts wagered by players on each side of the bet, and the casino just takes some portion of it (similar to rake in poker). Then you'd be playing against other people, not against the casino.