Gamblers that don't understand basic gambling concepts.

[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.

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[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.