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.

[1714224195]

1714224195

[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.

[goaldigger]

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.

Some are still focus on creating their own strategy and thinking about Martingale if its really work or not, and just like OP said many still didn't understand how this gambling works by creating those strategy and thinking about making profit easily. We can gamble all the time as long as you can afford to do so, and if not better to have self-control and avoid any possibility of addiction. Losing is normal in gambling, that is something that we cannot control because the house will always win.

[dothebeats]

I use EV in my investments but totally not in gambling. I just assess whether the investment is good or not by using expected value, but I will not have any time doing this mathematical calculation just for a single roll in dice. Besides, I'm here to enjoy the games, not try to win with every chance that I can get. If I am going for the money, I'd turn to my investments and my full-time job, not gambling—especially not dice. I can do EV in sports betting and get some good returns by choosing which events to play on and which events to pass (even if it's an inviting one due to it being highly probable to be a win) but there's a lot of work that needs to be done and I'm mainly there to watch the games and have fun.

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

Well, there are people who know in-depth math but chose to gamble, although the games that they are playing are not probability/luck-based but more on those that can be mathematically beaten (poker, blackjack, etc.) so there's that.

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.

It only becomes worth it if you are big enough to cause some trouble on the casino's bankroll. Until then would they be making their moves in order to get you out or for you to quit playing on their casino and move on. I've seen some guys screw casinos with huge winnings on sports bets, and whether or not it's due to the help of math (which we know there will be some math involved in there), they still drained the casinos funds and moved happily with what they win, regardless if they get banned on that casino or not. So yes, it's possible to win against the casinos using math on your bets—only if you're a big baller.

[YOSHIE]

Your topic reminds me of one of the studies which said the main basic concepts in gambling.

The professor said:

All gamblers know the concept, what is meant by gambling is a game where players bet to choose one option among several choices where only one choice is correct and wins.
The player who loses the bet will give the bet to the winner.

Well, this is where every gambler has a problem who has bad luck / loses a bet.

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.

Even though many of us see users lose in gambling bets, emotionally many of us want to re-bet even though they lose again, users are missing from the basic concept and tend to be more into factors that are eager and profit as much as they are even though they are covered with various games and bets, that is caused emotionally which causes you not to understand the meaning of the gambling concept anymore, loses your memory and is frustrated and ends up going crazy.

[Ben Barubal]

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 .

     Most gamblers who enter this industry do not understand the concept of gambling. As long as they think that they might get lucky and get the jackpot, it's okay with them, they don't care what happens.

    But for me, when you play gambling, as a gambler you should expect that you will often lose here because you know that the banker or house edge often wins, it is very rare to win big in any kind of game in the casino, this is the truth.

[alastantiger]

Some persons are accidental gamblers. What I mean is that they started gambling because they watch a friend win a win and decided to try it out. Some of these persons may not know the conventional gambling terms but have their local parlance of such gambling terms. Besides some of them do not care about knowing the strategy as long as they win the money and keep wining the money.  They just do what ever works and keep doing it until it doesn't. Then they change strategy.

[wiss19]

I don't think their number is huge since RTP is always associated and explained in a slot game and as I observed, there are lots of users here who are obsessed in slot games. There are even threads here specifically created for slots. This includes the best games and then if how much their RTP/Volatility rates. Of course this won't be written without a brief explanation if what are those.

This is for those who don't know if what they are and how they work and why they are important in a slot game. Those who thinks they found a good winning system are usually a newbie in gambling but they will realize that the house is unbeatable once they spend more time in the game.

[virasisog]

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

There's nothing wrong in complaining or sharing gambling defeat stories because it's our way of releasing disappointment and dismay but there are really gamblers who don't have the basic gambling concept and then complain about their continuous losses. Those are the bettors who didn't at least study about the risks of gambling and didn't have any concrete plan for their gambling journey. They are the ones who can't control things well. Lossing is part of gambling but we can minimize the risks if we are knowledgeable about what we're doing.

[romero121]

Some persons are accidental gamblers. What I mean is that they started gambling because they watch a friend win a win and decided to try it out. Some of these persons may not know the conventional gambling terms but have their local parlance of such gambling terms. Besides some of them do not care about knowing the strategy as long as they win the money and keep wining the money.  They just do what ever works and keep doing it until it doesn't. Then they change strategy.

Accidental gamblers were the true winners. Myself too experienced it, when I gambled for the first time. For some time period I used to place bets and win. It happened with sports betting and with casino games. Even when bets were placed on unfamiliar sports events I used to win. I didn't stop gambling. Later the loss began and my mind started to go behind recovering the loss.

In all form it is the luck that brings in win, whether you understand the basics of gambling or not is secondary. Strategies give hands to minimise the loss and the same doesn't assure you with win.

[Mr. Magkaisa]

    -   For me, gambling is when you enter this world, whether it's crypto or traditional casino, all I know is that what often happens to gamblers is that they always lose in the end and only a few or only a few win a lot of money here.

And often the winner is the gambling owner or house edge because as far as I know it is programmed for the players, also the style of the gambling platforms is that they will give the gambler a chance to win until the gambler feels good just to gamble, which eventually turns out to be just a trap for them to find gambling.

[Beparanf]

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

There's nothing wrong in complaining or sharing gambling defeat stories because it's our way of releasing disappointment and dismay but there are really gamblers who don't have the basic gambling concept and then complain about their continuous losses. Those are the bettors who didn't at least study about the risks of gambling and didn't have any concrete plan for their gambling journey. They are the ones who can't control things well. Lossing is part of gambling but we can minimize the risks if we are knowledgeable about what we're doing.

Those gamblers that describe by OP and yours are already very rare to have a post here. Most of this user use the casino troll box or reddit to release there stress but most of the forum user in gambling section is already informed on what is the basic. Besides RTP and EV calculations is always base on luck too on most of the casino games because you can’t guarantee that you will win. Emotion is one of the big factor that most of the user still lose despite they knew how RTP and EV works. They usually bet huge amount in a single bet to recover losses quickly that accumulated on multiple small bets.

[panjul07]

The answer is simple, it is because most members in this section (gambling board) is not gamblers.
It can be proven by the number of participants whenever there is contest/competition held by casino in this forum, only few bitcointalk members who are participating regularly.
I'm not surprised if most of them do not really understand about the basic thing of gambling as what you mention.

[Leviathan.007]

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 remember my friends said the same thing a few years ago about gambling and gamblers she said most gamblers don't have enough information about gambling and because they are not familiar with the basics of mathematics if you check the result of successful gamblers they must have a plan with mathematic basic however for some other people gambling is more like a game for and they don't care about these.

[irsykes]

People who have been in the gambling life for a long time will think that they can be controlled, they have had a lot of experience and they don't want to become an income bookie money machine. if you already think about the calculation of wins and losses there are gaps that are easy to generate, I also don't want defeats to keep flowing and find these answers even though they are not easy to do

[mindrust]

It only becomes worth it if you are big enough to cause some trouble on the casino's bankroll. Until then would they be making their moves in order to get you out or for you to quit playing on their casino and move on. I've seen some guys screw casinos with huge winnings on sports bets, and whether or not it's due to the help of math (which we know there will be some math involved in there), they still drained the casinos funds and moved happily with what they win, regardless if they get banned on that casino or not. So yes, it's possible to win against the casinos using math on your bets—only if you're a big baller.

It is not worth even if you are bigger than the casino or potentially can send the casino to bankruptcy.

You are going to kill a business and leave lots of people without a job.

Is that worth it?

And the casino is obviously going to fight hard to save itself from a big player. -KYC, I am looking at you-

I would rather have a job and make my first million, instead of ruining a casino and have that headache. In the end, you may never ever get your prize anyway. After all that effort, risking big money, you may not even get your initial deposit.

The bankrupt casino will have two choices:

1- pay the player and file for bankruptcy
2- don't pay the player, find a bullshit excuse and then either disappear or live on as a scam casino

What do you think the casino would do? (The casino would pay you if it is a big casino like stake.com or whatever, but I am not talking about those very big casinos)

And don't even act like this business is run by saints.

[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

There's nothing wrong in complaining or sharing gambling defeat stories because it's our way of releasing disappointment and dismay but there are really gamblers who don't have the basic gambling concept and then complain about their continuous losses. Those are the bettors who didn't at least study about the risks of gambling and didn't have any concrete plan for their gambling journey. They are the ones who can't control things well. Lossing is part of gambling but we can minimize the risks if we are knowledgeable about what we're doing.

Yes, because everyone certainly knows that gambling always has risks and everything comes back to each other, sometimes they also tell stories just to share experiences and there are also those who are looking for sensation or to show off their winnings, that's what bitcointalk is for as a place of discussion for gamblers 

[rahmad2nd]

~anip~

As the title of this thread, gamblers who do not understand the basic concept of gambling. and I think that's natural, because after all a person will develop before he has deeper experience, let alone to understand the definition of gambling.
to be honest, no proven theory works 100% of the time. so, whatever it is the technique or the concept even the strategy. Or as you say, basic mathematical statistical concepts applied to gambling. In fact, all of that is only part of the supporting factors. that the determining factor is luck, especially casino gambling.

I'm not a maniac for luck-based gambling, I prefer to bet on sportsbooks but that doesn't mean I don't understand luck-based gambling such as slots, dice, blackjack, baccarat. And whatever it is, I've done various ways, from concept, strategy, method, in the end, it is luck that determines in every gambling session that we do.

[pixie85]

I use EV in my investments but totally not in gambling. I just assess whether the investment is good or not by using expected value, but I will not have any time doing this mathematical calculation just for a single roll in dice. Besides, I'm here to enjoy the games, not try to win with every chance that I can get. If I am going for the money, I'd turn to my investments and my full-time job, not gambling—especially not dice. I can do EV in sports betting and get some good returns by choosing which events to play on and which events to pass (even if it's an inviting one due to it being highly probable to be a win) but there's a lot of work that needs to be done and I'm mainly there to watch the games and have fun.

Nobody does the calculation for a single roll, but I guess what OP is trying to say is that people who know the theory know what to expect from their game and don't come crying to ask "what happened to my money?" after a loss.
Knowing the theory allows you to at least know if someone's advice is good or completely useless. Know that a casino makes money from your wins and losses and you're never doubling your money when you win. Understand that some strategies like martingale look good in theory but when you do the math you know they suck because after 20 losses if you finally get a win you're not back to your starting money. The game doesn't reset, but you've lost money.

[qwertyup23]

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 .

Unfortunately, majority of the gamblers do not understand the basic concepts and principles of gambling as their main focus is to hastily gamble. Upon learning at least the fundamentals, they would actually understand the risks associated on the techniques that they are employing. Like you said, if they thought that their current technique is working but in reality is not, then this would be a good opportunity for them to learn in order to reduce the risks of losing.

Though you are correct that knowing these basics would not guarantee an absolute win on their part but this would at least lessen the chances of them losing more money in the process.

[Casdinyard]

Certainly. Oftentimes it is not about the mathematical concepts that they are especially lackinh, because truth be told, the average gambler wouldn't really read a book on how to amp their chancss even if their lives depended on it. They especially suck in understanding. Just take for example people who whine about losing more money than earning using the Matringale Strat. They think it's a surefire way to earn you money without realizing that the strat never dabbles with altering the probability of wins to favor the player, it only increases the potential earninga the longer you play. So yes I do agree, people nowadays lack the basic concept of mathematics needed to underatand these games, but they also mostly lack basic common sense too.

[serjent05]

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.

Discussing RTP is too complex.  You, yourself probably can't even prove when it will kick in coz I also can't prove it myself.  So thinking that we know it very well might be an overstatement.  We all rely on the definition of it, and explain how it works according to our understanding but rarely we can prove it in our gameplay that it kicked in.  Because at the end of the day, the discussion of RTP becomes subjective, as we discuss and explain it, we really cannot give a personal example and prove how it works for us but ended up how we believe it works.

Do you have the same perception as me?

No, I do not guess what others think or interpret their behavior.  They know what they are thinking as we know ours.  Telling what other people think is out of my boundary.

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 think how much a gambler loses depends on his ability to control himself, and not because of the different concepts in gambling.  We can lose a lot even though we know how dice work if we failed to control ourselves and keep on betting even though we know that the house has the edge.

Theories often times is wrong though.  there are lots of theories out there that were debunked and changed because a theory is more on personal understanding.

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

Well, you made it a discussion and everyone is free to join, myself might not know what concept you are talking about but I just cited my opinion and I think that's not bad at all.

[uneng]

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?

If we were in some years ago I would agree with you, because there was indeed a large percentage of forum members who considered gambling a method to make money, side by side with trading, signature campaigns and micro tasks. It was a common belief, maybe because many of them were introduced to crypto gambling recently.

But right now I think the general mindset has already changed. Of course there are a vast number of posts still stating sports betting is the key for profit with gambling, but I think this concept has already decreased in popularity as well.

What happens is that always a new hype begins in gambling field, people will start talking about that in a positive way, as it was possible to gather positive results on long term. And once they realize to be mistaken, such opinions fade away from the common sense. Anyway, that is an endless sequence of cycles. Once there is a new trend, all the hopes from gamblers will relight, attempting to find the perfect method this time.

[madnessteat]

On this forum interacts with a huge number of people, some leave, some come, so there will always be those who will be sure that using the Martingale strategy can make money.

In my opinion those who understand that this is not the case should explain to such gamblers that they are mistaken in this strategy.

How many strategies have I used, but none of them proved to be good in the long run. You may or may not be lucky, but you should only play for fun.

[Fortify]

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 .

It's a simple fact of life that not everyone has the same intelligence or is educated to the same levels. A large part of the way casinos make money is being able to stay slightly ahead of what the average person knows and potentially (maybe even via algorithms) take advantage of human nature. They are making huge profits every year, which just goes to show that they are very good at fooling a large portion of the population into losing money. As for whiny threads, some people are just sore losers and while they jump in with an ambition to win lots of money, taking a shortcut in life, they inevitably fall flat on their face and throw away their money on games that they are told favor the house.

[o48o]

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 .

Totally, but lot's of people just aren't educated in that area or educated at all, they they prefer some sort of lucky charms, numerology and all kinds of logical fallacies to support their feeling of being in control, opposed to being in the mercy of statistics. All we can do is to explain this over and over no newbs as it's often not their fault of being misguided or misinformed.

[Rruchi man]

Do you have the same perception as me?

I think it is a normal thing to find gamblers who know nothing about the basic concepts in gambling because every body learnt to gamble differently. While some people's knowledge of gambling can be considered professional maybe due to how they learnt to gamble, where they learnt to gamble and who they learnt to gamble from, other people's knowledge is quite still crude, but does not mean that they cannot still win with their crude knowledge in gambling, it just means a reduced chance to win.

[Odusko]

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

For the fact that gambling is risky and the house always have an edge over the player since the casino most generates revenue to keep it operations.
Gambling technique can help guide a player to some certain level but it does not give accurate result just like every other form of gambling, knowledge can only help the player make better decisions that could give good winning.
So first thing first accept the fact that there is no guaranteed gambling formula and anyone can get carried away.

[serjent05]

Do you have the same perception as me?

I think it is a normal thing to find gamblers who know nothing about the basic concepts in gambling because every body learnt to gamble differently. While some people's knowledge of gambling can be considered professional maybe due to how they learnt to gamble, where they learnt to gamble and who they learnt to gamble from, other people's knowledge is quite still crude, but does not mean that they cannot still win with their crude knowledge in gambling, it just means a reduced chance to win.

I am kinda confused, I believe, house edge, RTP and any other variance are already pre-determined in gambling games, so how does not knowing this reduce our chance of winnings?  Pleae enlighten me as I believe, even the most not knowledgeable person can win in any casino game as long as he knows when to stop.

[fzkto]

On this forum interacts with a huge number of people, some leave, some come, so there will always be those who will be sure that using the Martingale strategy can make money.

In my opinion those who understand that this is not the case should explain to such gamblers that they are mistaken in this strategy.

How many strategies have I used, but none of them proved to be good in the long run. You may or may not be lucky, but you should only play for fun.

I agree with you that gambling for most people, almost everyone, can not be a permanent source of income, but should be as an entertainment, to distract from the daily grind. I have heard about the Martingale strategy, but I think it is very difficult for most people. In general any strategy in the casino, where the probability is almost always 50/50, will not work after a while.

[iv4n]

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

We see that all the time... in many gambling-related threads. How many people who actively comment in the gambling section actually gamble? Even more interesting are people that make comments in poker threads, I guess most of them never played poker, or they played just freerolls.

Many people just talk, but when the time comes to stand behind what it's said many will just move away and pretend like it never happened. Welcome to the real world.

[Vaskiy]

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

We see that all the time... in many gambling-related threads. How many people who actively comment in the gambling section actually gamble? Even more interesting are people that make comments in poker threads, I guess most of them never played poker, or they played just freerolls.

Many people just talk, but when the time comes to stand behind what it's said many will just move away and pretend like it never happened. Welcome to the real world.

This is true, myself too doesn't have much idea about poker. My game is Dice and sports betting, also I didn't try to learn other games because I've fixed it is difficult. I know the basics, because when I was to end my entire funds I used to play on each and every game. Whats been said is true, first of all many doesn't know about different games available.

[Baofeng]

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 .

Whether we know what are the odds are against us, there will always be gambling fallacy, or even closed to superstitious believed that we can overcome them and win against the house edge. Yeah, I understand some of the basic concept, but I will admit that I'm willing to go against like like the RTP in slots because the game was design to be enjoyed by the players as well, that's why we take risk and who knows, maybe we will win and be lucky, but I don't whine if I lose, that's how gambling is. You also touch based on one concept, our emotions. Yes, it's true, maybe majority of gamblers are carried away by it and keep on playing despite losing money already and seems can't control their feelings and they just want to chase that one big one.

[Viscore]

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.

However, I believe some gamblers are smart enough to understand those basic concepts in gambling, but they refuse to internalize it as they are blinded by personal desires and the greed to make bigger money in the process. So as a result, they are doom into losses and only the casino house benefits from it. There’s no wrong actually once you’re into gambling, since it’s a means of pleasure, but if you have misunderstood it’s basic concepts and follow on what you believed, that’s the time that you will really experience the worst scenarios in gambling.

[KennyR]

When we never mind about the win we'll experience good winning. This is true and the money making mind is the key for the gambling house to win. When our mind thinks not to loss, we'll be in pressure, what we play won't be our real play. We make lot many calculation and does it to empty the wallet.

When people have the mind to play for fun, many gambling platforms will go bankrupt. In all means the players need the patience as well as the emotional control to stay strong against the Casinos.

[alegotardo]

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 .

Something I've noticed over the last couple of years is that the amount of people starting to play gambling has increased a lot.
These are people who, most of the time, had never made a bet before and found in casino advertisements a way to "make money" easily.

Techniques like Martingale give the player the false illusion that he will win forever, as defeats don't seem to exist, but it only appears later and when it seems to the player, it is brutal, taking all of the player's resources at once. turn.

Sooner or later, everyone ends up understanding that in the end, the house always wins, and anyone who wants to make a profit from it needs to know how to lose wisely, control their impulses and not want to win everything at once.

[chaser15]

It's not necessary for me to understand those technical aspects as long as I know what I'm up to.

Specifically when gambling in slots or roulettes, knowing the RTP of those is really not necessary as that would not change the fact that all our bets or spin results are under the random algorithm or hashes. Luck-based indeed.

I'm sure, those who play slots didn't really know how even the game works but not a problem as long as they want to see those winning scenes.

[aioc]

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 .

For newbies playing online casinos, they would and could not care which is why they call it gambling everything is by chance and they rely on it, there are many types of gamblers.
Those who bring their concept of gambling from offline to online
Those who just want to have fun and don't want to do with

basic statistical concepts of mathematics applied to gambling

Those who analyze everything and had a good knowledge of statistics and basic and advanced concept
Unfortunately, we cannot have one type of gambler only and that is why casinos are profitable they cater to many types of players, you can ask them to be responsible for how they play but you cannot oblige them to be educated when it comes to gambling everyone is to each his own.

[boyptc]

Those that are complaining or whining with their losses, they might have understood the concepts but they just can't accept that they have been defeated, they've totally lost it.

They think that they've discovered some strategy that might really be a good sign on them to be against the house. But in all reality, no one can go against the house.

All of those discoveries or features, yeah, they're already there and just later found out as they gambling seriously.

[Jemzx00]

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 guess each strategy varies depending to each player or gambler and one doesn't really need to complicate things if a simple martingale strategy works on them. I too, mostly used martingale strategy throughout my time of gambling here as it is much more complicated to make some strategy that can only works on a short amount of time.

Most people here on the forum already know basic concepts and the system of each game but they would rather stick with the most common methods or probably don't want to share their complicated methods. About the threads showing up on the forum about how one method did not work is normal as emotions are there and they just want to express it and share it on the forum

[nurilham]

I would say that at least 25% of the people who write in this section fall into this category.

How do you know this?
Do you have your own research about this?  

Although knowing the theory doesn't guarantee it 100% because we sometimes get carried away by emotions.

Even if you know the theory and you can control your emotion perfectly, it never guarantees to win 100%.
You must understand the meaning of 'luck-based game', right? It simply tells us that no theory to guarantee winning. It is only about our luck, whether we have good luck or bad luck in the game.

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

Not sure what you mean.
People have their own reasons to comment or not.
 

[Doell]

Knowing the concept RTP also does not guarantee a 100% win, any gambling only depends on luck. I think also it's the same as poker, if you're not lucky you cards are always bad, even if you bluff by raising the bet, when your opponent has a good card, he will call and boom explode you lose  , but only crazy gamblers with hold a bad cards him raising the bet. Same also with sportsbook gambling, favorite team will not always 100% win.

[danherbias07]

RTP, or whatever mathematical thing there is, gamblers will always suffer in the end when it comes to games with luck-based systems or just simply computer-based. I don't understand those because there's nothing to understand. Provably fair is all you have on your side.
This is the reason I switched to sports gambling, it gives me more fun analyzing a game and increasing my chance to win rather than inclined with luck.
For a long time betting in the sports industry, I have never felt a big loss, mostly ROI or profits and that's a good reason to just stick with it.

[LUCKMCFLY]

When we never mind about the win we'll experience good winning. This is true and the money making mind is the key for the gambling house to win. When our mind thinks not to loss, we'll be in pressure, what we play won't be our real play. We make lot many calculation and does it to empty the wallet.

When people have the mind to play for fun, many gambling platforms will go bankrupt. In all means the players need the patience as well as the emotional control to stay strong against the Casinos.

Well in my case I apply what I've learned in trading, which is basically if I lose, I look for the possible reasons why I lost, and otherwise if I win, I also look for the reasons why I won and it's incredible perop the brain He sees many worse options which are given to support if he wins with a good base or if it is only due to randomness, I think that the things that we know as luck is what we sometimes rely on to go to a casino, of course taking into account Keep in mind that the balances of each person always remain in a positive balance and not lose everything, for me it is the first option to have a balance of risks before playing.

[Don Pedro Dinero]

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.

Well, you can also go for fun, as you say later, plus if you know your maths, you know that the loss per RTP minus 100 or EV- is long term. You can go one night, as often happens, and come out positive.

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.

Knowing the concept RTP also does not guarantee a 100% win,

This is what I was talking about:

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

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.

I've seen that said many times but I doubt it's a significant percentage of those who comment, because the ones I usually see comment on specific plays, sometimes accompanied by screenshots etc. that make it look like they do bet. See this thread for example, do you think OP and most people commenting do not bet?

Betting Types Newbies Should know About

 

[Reatim]

Don't worry mate  no matter what you said and understand it is the same that  House always win  actually we are only playing to enjoy but the winner is always the team behind each casino.

but it is good that you open this up for more understanding from other players/gamblers from this forum .

[crwth]

I don’t think there’s a need for gamblers to understand that on the fundamental level, if they are just occasional gamblers and not a professional one in which, they are using gambling as a source of income. If they understand that they need to know these things to become more successful, I think they will put more effort into learning them.

You shouldn’t blame them if they have no idea, but once you have introduced the concept, but still they don’t use it or learn it, then that’s going to be their fault.

[Fivestar4everMVP]

To be sincere, I do not understand all the concept of gambling or the general mechanics to the games, though i try my best in searching and researching and reading information that will help me know more, But personally, from the experience ive gained or gathered from gambling, knowing this things still will not stop a gambler from loosing money, most especially, on games that are purely based on luck, though i agree that it can help cub the amount of money one could loose as it helps gamblers know when to bet moderately, but you already said it, this still wont stop majority of gamblers from loosing big since emotions get involved in our gambling activities very easily.

[Oshosondy]

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.

Gambling is not a course that should be studied if you just want to have fun with it, I have read on an article before how to calculate expected value, it seems to be for people that are working in gambling companies to use it to determine the odds that punters will be selecting for each game taken, I do not see it for gamblers to gamble, gamblers prefer to look for a good clubs or team to win, check if the odd is good enough for him to pick and not by considering the expected value but what he is pleased with and not that such punters are wrong.

There is nothing punters will not know about return to players, rakeback, or to cashout if a match has not be finished.

[serjent05]

I don’t think there’s a need for gamblers to understand that on the fundamental level, if they are just occasional gamblers and not a professional one in which, they are using gambling as a source of income. If they understand that they need to know these things to become more successful, I think they will put more effort into learning them.

You shouldn’t blame them if they have no idea, but once you have introduced the concept, but still they don’t use it or learn it, then that’s going to be their fault.

I believe it is for bragging right since it is seldom for a player to research deeply on the subject matter.  I agree with @OP that majority of gambler play without knowing the essence of the mathematical theory that is coded in the game.  The majority of the players know that they press the button, it wins, great!, it losses well... better luck next time.  Only a few go into deep research to take advantage of the better probability of triggering a win in a Casino.

[crzy]

I don’t think there’s a need for gamblers to understand that on the fundamental level, if they are just occasional gamblers and not a professional one in which, they are using gambling as a source of income. If they understand that they need to know these things to become more successful, I think they will put more effort into learning them.

You shouldn’t blame them if they have no idea, but once you have introduced the concept, but still they don’t use it or learn it, then that’s going to be their fault.

Occasional gamblers don't want to make things more complicated, so they just literally go with the flow and depend on their luck which is ok since gambling is more of a game of luck. Professional gamblers should be more concern about this as they are spending a lot of money in gambling and depend too much on this. Some might not be open to any one's advices as they are too focus on their own strategy even if you are telling them that they are doing the wrong thing about gambling.

[Don Pedro Dinero]

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.

[LUCKMCFLY]

I don’t think there’s a need for gamblers to understand that on the fundamental level, if they are just occasional gamblers and not a professional one in which, they are using gambling as a source of income. If they understand that they need to know these things to become more successful, I think they will put more effort into learning them.

You shouldn’t blame them if they have no idea, but once you have introduced the concept, but still they don’t use it or learn it, then that’s going to be their fault.

I believe it is for bragging right since it is seldom for a player to research deeply on the subject matter.  I agree with @OP that majority of gambler play without knowing the essence of the mathematical theory that is coded in the game.  The majority of the players know that they press the button, it wins, great!, it losses well... better luck next time.  Only a few go into deep research to take advantage of the better probability of triggering a win in a Casino.

What happens here is that it is very difficult for a player to say what are the basic concepts to follow to bet in a casino or in a sports bet, there is no special guide to do it, each person makes their bet according to their thoughts and Your logic indicates it, if we are led to think that a player does not follow the basic concepts, sometimes I don't even know what they are.

Personally, what seems to me a fundamental concept is that the person should not make any bets in an uncontrolled way and without having any control over the balance, because if he spends it all, it is already that person's problem and in reality that is not what What is sought, besides that it is irresponsible, I think that if it is clear that when betting, only spend what you are willing to spend is the right thing to do.

[rahmad2nd]

Don't worry mate  no matter what you said and understand it is the same that  House always win  actually we are only playing to enjoy but the winner is always the team behind each casino.

but it is good that you open this up for more understanding from other players/gamblers from this forum .

Do you mean enjoy losing, if so.  you are very generous, let alone give your money to the house. but not like that is not it, I understand what you mean. however, if you are just playing around to enjoy the game. I'm sure you didn't say it wholeheartedly. because after all, when we get a losing streak. Psychologically, human emotions will be disrupted even if you know that the house always wins, but you will also be driven by emotion to make a deposit again and that's usually what happens to us gamblers.

so the concept and definition of having fun is not as simple as we say it. basically, true we should have understanding and concepts of gambling as Op said in this thread.

[Yogee]

....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.

There was this one member who keeps creating topics flaunting his winnings and his "strategy"...then later says he quits gambling hehe.

Don't worry mate  no matter what you said and understand it is the same that  House always win  actually we are only playing to enjoy but the winner is always the team behind each casino.

Don't ignore these basic gambling concepts because it could be the main difference from you losing big or small.

It's true that house always wins in general but there a few players who have been known to beat the house. Ever read or heard a story of gamblers no longer allowed to enter a casino because he consistently wins too much?

[Fivestar4everMVP]

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.

Well, i cant help but agree that there are indeed a lot of gambling concepts that gamblers themselves don't understand, and is because many of us lack the zeal to search and read, and majority of gamblers are not gambling out of passion for it, but out of passion for money, that is making profit, this make searching and reading up some of this gambling concepts in other to learn really boring and un-understandable.
So for majority, all we are after is mastering some of the really basic concepts like knowing how to bet on a game, knowing the functions of some simple button on the casino, as well as knowing what odds are and how they affect the amount of money we are likely to win, once we know some of this things, the rest become not so important.

I could possibly liken this to a car driver who can drive very well but know absolutely nothing on how a car engine functions, even down to the basics like -
torque
horse power
MPH
Some don't even know how to place and connect a car battery properly  .

[ryzaadit]

-snip-

Then, If you understand how the concept "RTP".

It's that work on your gambling activity ? I think would be better you are also sharing the experience gambling from your side. IMO, to many people giving advice one-to-another in this forum.

Meanwhile, he not gambling or don't have experience. It's just like comparing a person who are on theory side to practice side, it's completed different and can't be the same. I more respectfully people who are giving advice need to share the gambling proof activity from his experience not just "THEORY".

[Hydrogen]

Before people understood what germs were. There were many different superstitions in circulation attempting to explain various illness and medical conditions. People resorted to using leaches to suck blood from patients, in the belief it could cure sickness.

These past eras of superstition define the current state of affairs in the gambling industry. Most who do not know how to win consistently follow the herd. They recite strategies and common themes from outside sources, which are essentially identical to placing leaches on patients in medical wards, in the superstition that it will improve their health. Their gambling ideology revolves around emotions, luck, superstitions and concepts which do not allow for winning on a consistent basis.

The small percentage of consistent winners in gambling circles are all about applying math and science to devise reliable methods to win. They're typically the ones who are crunching big data in sports statistics to identify reproducible historical patterns which they can exploit.

[Agbe]

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.

That is true, when I came here first, I also suffered the same faith, I didn't even know how to discuss here but I am good to some extent now. Everything is about reading. If the person really meant to understand those gambling teams, he or she should read more. And follow the instructions of the other users in the forum.

If anyone like reading, check here
The Essential Glossary Of Gambling Terms
Gambling Glossary: A Guide to Gambling Terms

[xSkylarx]

I don't know but sort of you are scolding me not learning the basics but my thought about it really I am open on to learning this since I am too a gambler but mostly I don't get really serious in gambling , like I am a casual player that tends to gamble on weekly or somewhat daily basis just to kill some time and hangout with my friends while drinking beers. Though I've got your point but really I would say that that are the methods you could be used for you to go pro or be expert in gambling , but some of us gamblers are just playing for fun (even losing lol)

[Gozie51]

When we never mind about the win we'll experience good winning. This is true and the money making mind is the key for the gambling house to win. When our mind thinks not to loss, we'll be in pressure, what we play won't be our real play. We make lot many calculation and does it to empty the wallet.

When people have the mind to play for fun, many gambling platforms will go bankrupt. In all means the players need the patience as well as the emotional control to stay strong against the Casinos.

I think this is a strong strategy to even back up RTP. In gambling I have experienced it that you always get pressured when you are trying so hard to win but if you take your mind and emotion off the game then you are likely to take a proper analysis of what you are doing or to do with your next game. So one of the reasons to go off your losing fear is to play with fun mindset whether you are using the martingale strategy or not.

[Cryptomultiplier]

It is hard to see gamblers that read, that is, from the ones I have been opportuned to meet. Learning from a friend that knows how to, and a friend who knows others that have better knowledge with a zeal to share; had always been the way we know to get our strategies from. Let me not leave out, the trial and error, I.e., learning from our own experiences strategy.
Anyone who had made profit or won in any gambling game, definitely did some research, maybe when no was looking, they studied to understand, perhaps they studied the basic  gambling concepts behind curtains.

[famososMuertos]

Well...!

There will be those who want to go deeper and make betting something beyond simple entertainment.

 That is why it is easy to place a bet on the traditional games that are presented in any casino, if it were complicated they would not have the success they have.

 Poker, black jack, sports betting and traditional casino games in that order are presented in their complexity of "trying" to learn but it is not really necessary.

 For a careless, unsuspecting user or simply who goes to a casino or comes to this forum, most qualify as recreational.

[Blawpaw]

There are a lot of gamblers that do not even grasp the idea of having simple statistical techniques, as they simply rely on luck. And quite frankly, those are the ones who make casinos profitable. Even those gamblers who apply mathematical concepts and statistical techniques many of the times may fail, but by using those techniques, they greatly increase their chances of winning. After that, it is just a question of management. But yeah, most players are completely unaware of how to apply mathematical concepts and statistical techniques to gambling, it's true.

[dezoel]

In a world where people are not even aware of the fact that house edge is there to make sure you lose one way or another in the long run so if you keep gambling then eventually you will lose all of your money, then we should not talk about even ideas on how to gamble.

I get that some people may gamble and win big and leave, that's fine and that is not the type of customers casinos have, because those people left, they were there for just a bit. The customers they have are the people who keep gambling and because of the house edge they will 100% all lose their money there and it is just a reality check that some people still think they could make a living out of gambling.

[goinmerry]

The same concept when playing slots where the question, are gamblers really understand the game mechanics of it?

Simply, since it's a game of luck, they will just spin those reels and expect that winning will come.

For me, it doesn't really necessary to know this RTP or expected value return. It can be learned in the way I believed.

[Jemzx00]

There are a lot of gamblers that do not even grasp the idea of having simple statistical techniques, as they simply rely on luck. And quite frankly, those are the ones who make casinos profitable. Even those gamblers who apply mathematical concepts and statistical techniques many of the times may fail, but by using those techniques, they greatly increase their chances of winning. After that, it is just a question of management. But yeah, most players are completely unaware of how to apply mathematical concepts and statistical techniques to gambling, it's true.

That may be true that a lot of gamblers don't really make statistical techniques when gambling, but it doesn't really mean that they are doomed to lose their games in casinos especially since most games on the casino have their own rules and exception to avoid getting abused by its users. A lot of games are based on luck which is also why people don't tend to make any complicated strategy as gambling owners already made some program to avoid certain techniques be used.

[TravelMug]

The same concept when playing slots where the question, are gamblers really understand the game mechanics of it?

Simply, since it's a game of luck, they will just spin those reels and expect that winning will come.

For me, it doesn't really necessary to know this RTP or expected value return. It can be learned in the way I believed.

I think the more we become an experience gambler, let's say a slot machine player, the more we understand this technicalities like RTP or EV or what not. But it doesn't matter though, as long as we are enjoying then why not?

Still luck base for us and if we feel lucky then we will take that chance, pull the lever on a slot machine and hopefully we will see big returns. Same with the martingale system, we will still used it no matter what the odds are because all we can think is that it will work on our way.

[btc78]

There are a lot of gamblers that do not even grasp the idea of having simple statistical techniques, as they simply rely on luck. And quite frankly, those are the ones who make casinos profitable.

exactly , people only seek for speed profit but does not know how to play it rightfully so the ending? the casino always win and we are always the loser.

I think this is the time for gamblers to fully understand how it works for us to at least have bigger chances of taking money from casino owners .

Even those gamblers who apply mathematical concepts and statistical techniques many of the times may fail, but by using those techniques, they greatly increase their chances of winning. After that, it is just a question of management. But yeah, most players are completely unaware of how to apply mathematical concepts and statistical techniques to gambling, it's true.

that is also exactly what it is , we can higher the chances but sure win isn't really possible , so yeah I support to what you all says here.