Does large number gambling real put you at an advantage?

[xenomorfo]

I don't think this logic can lead to a deliberately profitable gambling game. The standard deviation is usually used to check the randomness of the result. If the mathematical expectation of the result and the standard deviation are known, then the actual result should be within the range: mathematical expectation plus or minus 3 standard deviations (this covers 97.73% of random outcomes, including unlikely large wins). If this is not the case, then there are doubts about randomness. But this does not affect profitability in any way.

there is no such thing as profitable gambling guys
gambling is always losing, always
there are no games that make you earn money, they just make you pass the time, yes but never earn
so it is useless to chase this chimera, avoid it or you risk ending up in addiction.

[Yeesha]

I don't think this logic can lead to a deliberately profitable gambling game. The standard deviation is usually used to check the randomness of the result. If the mathematical expectation of the result and the standard deviation are known, then the actual result should be within the range: mathematical expectation plus or minus 3 standard deviations (this covers 97.73% of random outcomes, including unlikely large wins). If this is not the case, then there are doubts about randomness. But this does not affect profitability in any way.

there is no such thing as profitable gambling guys
gambling is always losing, always
there are no games that make you earn money, they just make you pass the time, yes but never earn
so it is useless to chase this chimera, avoid it or you risk ending up in addiction.

The possibility of winning in gambling is very low, and there is no full assurance that you will win the little you stake, talkless of those people who are staking big. I used to imagine how some people end their lives when they lose their bet, because they couldn't bear to lose what they stake. You see how dangerous gambling could be, to the extent someone will not know what to think of, but to commit suicide. Some people take gambling too seriously, that they can't let a day go by without gambling. Every gambler should know how to safeguard themselves, because gambling has so much to lose, unless they control themselves.

[o48o]

there is no such thing as profitable gambling guys
gambling is always losing, always
there are no games that make you earn money, they just make you pass the time, yes but never earn
so it is useless to chase this chimera, avoid it or you risk ending up in addiction.

This is just factually incorrect. There's a change to make profit with gambling, it's just not up to you if you make it or not (and it's likely not).

You can say that it's not legit way to earn, because you can't plan or count on it. But some people actually win as well, or have you not heard about lottery jackpot winners? Majority of them don't spend that money back on gambling. Majority of them just increase the quality of their lives. That's just a studied fact.

[fredericktaylor]

So lately I've been thinking about how much probability and variance affects betting basically overtime. For instance let's consider a game with a 55% probability of winning which  actually gives us a 45% probability of losing which basically means after 1000 independent bets the expected number of wins should be something like;

Code:

E(X) = np = 1000 × 0.55 = 550

However, the standard deviation is gonna  give us;

Code:

σ = √(npq) = √(1000 × 0.55 × 0.45) ≈ 15.7

Which basically means the results between roughly 534 and 566 wins (550 ± 15.7) are statistically normal despite having a positive edge now what if we consider games with way smaller winning probability which obviously makes our variance smaller too. Now what do with do with the fact that there is a probability I still could lose 700 games worse case scenario? Because it looks like overtime you'll still run into net loss.

I think that a large amount of gambling can never create a peaceful or comfortable situation for a gambler. The risk of losing money increases many times over with a large amount of gambling, nothing more. I think it is better to gamble with small amounts of money so that no matter what the outcome of the gambling, you can keep yourself calm and protect yourself from big losses from gambling, so you can limit yourself to your means and protect yourself from gambling addiction or losses. There is a risk of losing money through gambling, so it is better to gamble with awareness.

[Son Of Blockchain (SOB)]

Edited.

I think that a large amount of gambling can never create a peaceful or comfortable situation for a gambler. The risk of losing money increases many times over with a large amount of gambling, nothing more. I think it is better to gamble with small amounts of money so that no matter what the outcome of the gambling, you can keep yourself calm and protect yourself from big losses from gambling, so you can limit yourself to your means and protect yourself from gambling addiction or losses. There is a risk of losing money through gambling, so it is better to gamble with awareness.

It makes sense mathematically cause games with a huge winning probability arec meant to attract wins while the ones with lower probability offer low chance of winning but games are won by several factors, there's the luck factor and let's not forget the house edge too so depending on probability alone isn't very helpful.
 Although it's important to consider that when making decisions but it still guarantees nothing so betting wisely is the best option, it mustn't necessarily be very little but with our discretionary funds and something that won't trigger emotions when the bet is lost.

[L E G E N D A R Y]

The possibility of winning in gambling is very low, and there is no full assurance that you will win the little you stake, talkless of those people who are staking big. I used to imagine how some people end their lives when they lose their bet, because they couldn't bear to lose what they stake. You see how dangerous gambling could be, to the extent someone will not know what to think of, but to commit suicide. Some people take gambling too seriously, that they can't let a day go by without gambling. Every gambler should know how to safeguard themselves, because gambling has so much to lose, unless they control themselves.

True, gambling is not a game that one needs to invest in because taking it as a way of making money from it can be a threat to their lives, as it will take away their money, their peace and for some people, their lives. And the only way one can guard or protect themselves from the dangers of irresponsible gambling, its for them to have the right mindset, that is to see the game as entertainment, which will keep them out of problems, as it will also be of help to control their emotions when gambling without hurting themselves.

[Unsoldier]

I think that a large amount of gambling can never create a peaceful or comfortable situation for a gambler. The risk of losing money increases many times over with a large amount of gambling, nothing more. I think it is better to gamble with small amounts of money so that no matter what the outcome of the gambling, you can keep yourself calm and protect yourself from big losses from gambling, so you can limit yourself to your means and protect yourself from gambling addiction or losses. There is a risk of losing money through gambling, so it is better to gamble with awareness.

The larger the bet size, the stronger its impact on the player's emotions. Of course, when you play for small amounts, losing is much easier to take, and there is less temptation to try to chase your losses right away. Plus, if someone views the money spent on gambling simply as the cost of entertainment, life becomes much easier for them.

[Smartprofit]

So lately I've been thinking about how much probability and variance affects betting basically overtime. For instance let's consider a game with a 55% probability of winning which  actually gives us a 45% probability of losing which basically means after 1000 independent bets the expected number of wins should be something like;

Code:

E(X) = np = 1000 × 0.55 = 550

However, the standard deviation is gonna  give us;

Code:

σ = √(npq) = √(1000 × 0.55 × 0.45) ≈ 15.7

Which basically means the results between roughly 534 and 566 wins (550 ± 15.7) are statistically normal despite having a positive edge now what if we consider games with way smaller winning probability which obviously makes our variance smaller too. Now what do with do with the fact that there is a probability I still could lose 700 games worse case scenario? Because it looks like overtime you'll still run into net loss.

The law of large numbers is a powerful foundation upon which a player can build their financial well-being! I love this law! However, there's one "but"... This is only possible when the player's probability of winning is greater than 50%.🙋

That is, a player needs to have a competitive advantage. If a player has a competitive advantage, then the algorithm for successful play becomes absolutely clear: you need to place as many bets as possible to guarantee a win. It's that simple!

However, the main problem is that most casino games don't offer us such a winning probability. If your probability of winning is only 48%, then the law of large numbers starts to work against you. That is, the longer you play, the more guaranteed your loss is.🙆

[WhoYouCantKill]

The larger the bet size, the stronger its impact on the player's emotions. Of course, when you play for small amounts, losing is much easier to take, and there is less temptation to try to chase your losses right away. Plus, if someone views the money spent on gambling simply as the cost of entertainment, life becomes much easier for them.

Well unfortunately, not very many gamblers view gambling that way, even though that’s actually how gamblers are meant to perceive gambling. People now see gambling as a means to escape financial insufficiency, especially when they hear about how people win huge amounts of money online or from people they know. So using small amounts of money feels like they’ll be missing out on some reasonable amount of wins when/if they eventually get lucky, so they tend to up their bet, which eventually makes it difficult to just let go when they lose, thus resulting to chasing their losses.

[Zackz5000]

The possibility of winning in gambling is very low, and there is no full assurance that you will win the little you stake, talkless of those people who are staking big. I used to imagine how some people end their lives when they lose their bet, because they couldn't bear to lose what they stake. You see how dangerous gambling could be, to the extent someone will not know what to think of, but to commit suicide. Some people take gambling too seriously, that they can't let a day go by without gambling. Every gambler should know how to safeguard themselves, because gambling has so much to lose, unless they control themselves.

True, gambling is not a game that one needs to invest in because taking it as a way of making money from it can be a threat to their lives, as it will take away their money, their peace and for some people, their lives. And the only way one can guard or protect themselves from the dangers of irresponsible gambling, its for them to have the right mindset, that is to see the game as entertainment, which will keep them out of problems, as it will also be of help to control their emotions when gambling without hurting themselves.

In gambling no matter how possible it is for a particular team to win it doesn't guarantee they will win the out come of the game always comes at the end of the game, gambling isn't what people should put there time on by seeing it as the only hope to make money or as there source of income because you can gamble for a month with out getting a win and at the cost of the chasing lost might get you into losing more money. Let gambling be seen as place to either try luck when ever you have money that you can let go incase the outcome turn out to be loss we won't get thinking of it over time.

[Joeboy]

The possibility of winning in gambling is very low, and there is no full assurance that you will win the little you stake, talkless of those people who are staking big. I used to imagine how some people end their lives when they lose their bet, because they couldn't bear to lose what they stake. You see how dangerous gambling could be, to the extent someone will not know what to think of, but to commit suicide. Some people take gambling too seriously, that they can't let a day go by without gambling. Every gambler should know how to safeguard themselves, because gambling has so much to lose, unless they control themselves.

True, gambling is not a game that one needs to invest in because taking it as a way of making money from it can be a threat to their lives, as it will take away their money, their peace and for some people, their lives. And the only way one can guard or protect themselves from the dangers of irresponsible gambling, its for them to have the right mindset, that is to see the game as entertainment, which will keep them out of problems, as it will also be of help to control their emotions when gambling without hurting themselves.

In gambling no matter how possible it is for a particular team to win it doesn't guarantee they will win the out come of the game always comes at the end of the game, gambling isn't what people should put there time on by seeing it as the only hope to make money or as there source of income because you can gamble for a month with out getting a win and at the cost of the chasing lost might get you into losing more money. Let gambling be seen as place to either try luck when ever you have money that you can let go incase the outcome turn out to be loss we won't get thinking of it over time.

Surely, folks shouldn't determine the outcome of a match just by how strong the team in question is over their opponent, coz sport it self is highly unpredictable.. A team that everyone normally expects to win can still lose due to so many factors like maybe bad officiating, red card incident, injuries and whatnot, and this is exactly why it is wrong in itself for anyone to think there even exist a guaranteed win..And so folks should ensure they gamble after they must have catered for their basic needs and responsibilities.. Infact ensure that after taking out your gambling amount, that there is still enough cash left for discretionary consumption and others..And in case of losses gamblers shouldn't go on to chasing their losses, coz doing so could even lead to more losses...

[Sammye3]

there is no such thing as profitable gambling guys
gambling is always losing, always
there are no games that make you earn money, they just make you pass the time, yes but never earn
so it is useless to chase this chimera, avoid it or you risk ending up in addiction.

Gambling is not always losses, but rather based on luck as there are few occasions of winnings too. It depends on how much you can afford to lose and how much parlays you could bet on. Some people bet on a single game which makes it more easier for a win but with little winnings, it's a matter of how much satisfaction and discipline one could tolerate to remain consistent with the winnings.

[tread93]

there is no such thing as profitable gambling guys
gambling is always losing, always
there are no games that make you earn money, they just make you pass the time, yes but never earn
so it is useless to chase this chimera, avoid it or you risk ending up in addiction.

This is just factually incorrect. There's a change to make profit with gambling, it's just not up to you if you make it or not (and it's likely not).

You can say that it's not legit way to earn, because you can't plan or count on it. But some people actually win as well, or have you not heard about lottery jackpot winners? Majority of them don't spend that money back on gambling. Majority of them just increase the quality of their lives. That's just a studied fact.

Yeah no there are definitely ways to become profitable in gambling. That user just hasn’t had any luck apparently. If someone makes a killing on gambling there is definitely temptation to keep on going but the smart folks who know their limits will stop and increase the quality of their lifestyle.

[Franklyn-wood]

I think that a large amount of gambling can never create a peaceful or comfortable situation for a gambler. The risk of losing money increases many times over with a large amount of gambling, nothing more. I think it is better to gamble with small amounts of money so that no matter what the outcome of the gambling, you can keep yourself calm and protect yourself from big losses from gambling, so you can limit yourself to your means and protect yourself from gambling addiction or losses. There is a risk of losing money through gambling, so it is better to gamble with awareness.

The larger the bet size, the stronger its impact on the player's emotions. Of course, when you play for small amounts, losing is much easier to take, and there is less temptation to try to chase your losses right away. Plus, if someone views the money spent on gambling simply as the cost of entertainment, life becomes much easier for them.

An increase in staking power can causes an increase in bigger losses that could eventually lead to emotional frustration that have killed and rendered  many people useless.
It has never and can never be that increasing the bet amount makes one to win or increase the chances of winningrather it causes pressure to the gambler who involves in such gready act. The feelings that gambling is the only alternative way to become financial free.

[sompitonov]

Yeah no there are definitely ways to become profitable in gambling. That user just hasn’t had any luck apparently. If someone makes a killing on gambling there is definitely temptation to keep on going but the smart folks who know their limits will stop and increase the quality of their lifestyle.

I believe that those with large sums have no advantage whatsoever, because only professionals who know and understand the strategies and intricacies of the game, have vast experience and knowledge, learn from the mistakes of others, and are emotionally stable—only such players have an advantage. The rest of the players are likely to lose more the more they play, unless, of course, they're lucky more often than the average player. Therefore, a large sum means nothing at all; it's better to think about how not to lose it very quickly in such a case.

[Mr Reporter]

The possibility of winning in gambling is very low, and there is no full assurance that you will win the little you stake, talkless of those people who are staking big. I used to imagine how some people end their lives when they lose their bet, because they couldn't bear to lose what they stake. You see how dangerous gambling could be, to the extent someone will not know what to think of, but to commit suicide. Some people take gambling too seriously, that they can't let a day go by without gambling. Every gambler should know how to safeguard themselves, because gambling has so much to lose, unless they control themselves.

You are very right, most of the time gambling feels like just one bet at the start, until it's been realize it way more than just one bet at some points when it's obviously too late to part ways with it becomes a habit…over the years now I have come to understand that in gambling the odds are always built just to favour the house in the long term, The very big truth most gamblers fail’s to understand is that they feel that the very big opportunity of winning keeps more people chasing, and when they stake big and lose, the reality can break them alot when they find out such….

And the most hurtful one is people ending their lives over a bet, the truth is no bet is even worth crying for talk more of death…honstly speaking, if I could ever find myself in such issues that really means I deserve help right away…it very simple always learn how to treat gambling as an entertainment not less not more just make it as part of your chilling times….

[MorganaX]

I think that a large amount of gambling can never create a peaceful or comfortable situation for a gambler. The risk of losing money increases many times over with a large amount of gambling, nothing more. I think it is better to gamble with small amounts of money so that no matter what the outcome of the gambling, you can keep yourself calm and protect yourself from big losses from gambling, so you can limit yourself to your means and protect yourself from gambling addiction or losses. There is a risk of losing money through gambling, so it is better to gamble with awareness.

The larger the bet size, the stronger its impact on the player's emotions. Of course, when you play for small amounts, losing is much easier to take, and there is less temptation to try to chase your losses right away. Plus, if someone views the money spent on gambling simply as the cost of entertainment, life becomes much easier for them.

An increase in staking power can causes an increase in bigger losses that could eventually lead to emotional frustration that have killed and rendered  many people useless.
It has never and can never be that increasing the bet amount makes one to win or increase the chances of winningrather it causes pressure to the gambler who involves in such gready act. The feelings that gambling is the only alternative way to become financial free.

First of all, if you are of the impression that an increase in stakes can get you bigger chances of winning something tangible then I think you are actually in for a one way journey because you are probably gonna find out very fast how deadly it is to use or bet with huge money. The truth is that gambling is ever going to be something we can't control and the odds of winning are not always in our favor so it's much better to be using funds we can manageably let go in case it results in a loss than to think of increasing our chances with high stake and lower of number of selection.

Many people have taught they can win big very fast and easy, so they decided to use big funds thinking they can call it a quit after they win but gambling is just not an action we can control the winning and losses even if you are an experience and professional gambler, it's simply just too risky.

[red4slash]

there is no such thing as profitable gambling guys
gambling is always losing, always
there are no games that make you earn money, they just make you pass the time, yes but never earn
so it is useless to chase this chimera, avoid it or you risk ending up in addiction.

I would prefer to say that I am chasing victory in gambling but of course for victory does not mean we will make a profit because from the beginning indeed gambling will never make us a profit.

It's just that there are still a lot of people who will always be naive with the gambling they do and may be aware or not around us there will also always be something like this where the pursuit of profit is always sought but it actually makes everything uncontrollable.

But for the victory in gambling that is done can still happen even though it is only momentary because the victory that we get will not make us a profit because it is only temporary but sooner or later it will run out. Believe me though we will always say that after winning we will draw in the end it will also still run out sooner or later and we are just waiting for the time before this happens to us.

[gracreavix]

There's something we need to understand that enough bets doesn't guarantee profit. Even with small number of bets, profit isn't guaranteed too. It's all based on randomness and probability, a touch of good strategy. Another thing is your bankroll management. Ignoring that because of your edge might be disastrous. I say this because what if your edge takes longer than you expect? Meaning your bankroll management might not be enough to curb everything? Not good right.

Even if with all the loses. Your next bet might still be a loss as well. What if all 700 games are loses?  That's an overlooked issue.

[Patikno]

I don't think this logic can lead to a deliberately profitable gambling game. The standard deviation is usually used to check the randomness of the result. If the mathematical expectation of the result and the standard deviation are known, then the actual result should be within the range: mathematical expectation plus or minus 3 standard deviations (this covers 97.73% of random outcomes, including unlikely large wins). If this is not the case, then there are doubts about randomness. But this does not affect profitability in any way.

there is no such thing as profitable gambling guys
gambling is always losing, always
there are no games that make you earn money, they just make you pass the time, yes but never earn
so it is useless to chase this chimera, avoid it or you risk ending up in addiction.

Have you ever had no luck when gambling ? Come on friend, gambling is all about luck; you can win or lose. So, it all depends on your luck in each session.

Speaking of gambling addiction, I think it depends on each individual's attitude; meaning everyone has their own responsibility for their actions, especially when it comes to gambling. You can't blame gambling solely on your own mistakes. Essentially, all decisions are yours, and no one is forcing you to indulge in greed. So, is it wise to blame others when ourself make mistakes ?