Does large number gambling real put you at an advantage?

[Bitcoin.com97]

First of all in gambling, accuracy can be deceiving,do not rely on your own strength or say how your games or prediction are accurate,that alone can lead to addiction, because been accurate in your end doesn't guarantee winning,you can be accurate in your head and still be on a losing streak, gambling is all about risk and luck , with a large number one can be advantage sometime and also things many still go south,that is the irony of gambling.

A gambler becomes overconfident in his predictions and thinks that winning is certain, that's when he starts losing control, because he is 100% sure of his predictions, which makes him have no control over his financial limitations. In fact, this overconfidence in gamblers forces him to bet even bigger, trying to cover his losses, and in this way he eventually loses control, and in this way he ends up becoming addicted. So the most important thing is to maintain a realistic mindset. Gambling is based on luck, so none of your predictions can be guaranteed, but those who continue to play with big bets with the wrong mindset are the ones who end up facing big financial losses.

This is absolutely correct and I hope many sees this and learn ,I know someone who trust and believe so much on his prediction,you need to see the kind of amount he gambles with ,and with the mindset of he must win ,he trust his  prediction and at the end he loses all the bet,the next game he will definitely increase his stake more ,and gradually he became addicted without even realizing it, gambling is purely luck,they don't ask themselves why losing so much even after trusting so much on their games,it's just how gambling works and many failed to understand this .

[alegotardo]

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

[....]

Your reasoning is correct, but the problem is that only the number of winning bets is not enough to tell you whether you will make profit, because you also need to consider the expected value for the odds.

For example... if every bet has odds of 2.00, then you lose 1 unit when you lose and win 1 when you win, with a mathematical win probability of 55% in the long-term edge is on your favor.... so far, so good! The problem is that, in the real world, the odds usually are n0t 2.00, they are generally lower. When this happens the probabilities work against of you and you have to rely more on luck to make a profit.

And there's another point... none bankroll is immune in the long run. Even if you find value bets, there may come a time when you hit a losing streak and several consecutive losses wipe out your bankroll.

Anyway, mathematics is perfect but sports betting goes far beyond mathematics alone, so do not trust blindly on numbers.

[Hispo]

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.

It becomes increasingly difficult to keep those things in mind, when we are constantly being fed with advertisements on how some lucky winners doubled or tripled their money on a single bet and they won't need to work for a long time. That is the basic mechanism of greed, actually... Greed is the number one enemy for people who have the intention to have a minimum of consistency within the world of sportbetting. It makes one to forget about bankroll management and strategy, in order to try to emulate what we have seen on television or on Twitter.

It makes much harm to those who have a fragile discipline.

[Rustam Meraj]

The math is good, but key factor is missing, size of the bankroll compared to the bet size. If you are blown out of the bank before the long run, 55% advantage is nothing. This is what Kelly Criterion is all about. Bet in share to your advantage and avoid being ruined by bad unlucky streak.

​Worst case is 700 losses, which is in theory possible, but extremely unlikely with 55% advantage over 1000 tries. It is not that situation that is the real danger, it is that most bettors will bet more after losing money, in an attempt to make up for it, and this is where ups and downs become real problem.
​If you have positive expected value, it only pays off if you live long enough to collect it.

[#CapsLOck]

First of all in gambling, accuracy can be deceiving,do not rely on your own strength or say how your games or prediction are accurate,that alone can lead to addiction, because been accurate in your end doesn't guarantee winning,you can be accurate in your head and still be on a losing streak, gambling is all about risk and luck , with a large number one can be advantage sometime and also things many still go south,that is the irony of gambling.

A gambler becomes overconfident in his predictions and thinks that winning is certain, that's when he starts losing control, because he is 100% sure of his predictions, which makes him have no control over his financial limitations. In fact, this overconfidence in gamblers forces him to bet even bigger, trying to cover his losses, and in this way he eventually loses control, and in this way he ends up becoming addicted. So the most important thing is to maintain a realistic mindset. Gambling is based on luck, so none of your predictions can be guaranteed, but those who continue to play with big bets with the wrong mindset are the ones who end up facing big financial losses.

This is absolutely correct and I hope many sees this and learn ,I know someone who trust and believe so much on his prediction,you need to see the kind of amount he gambles with ,and with the mindset of he must win ,he trust his  prediction and at the end he loses all the bet,the next game he will definitely increase his stake more ,and gradually he became addicted without even realizing it, gambling is purely luck,they don't ask themselves why losing so much even after trusting so much on their games,it's just how gambling works and many failed to understand this .

One of the leading causes of why gamblers lose more than they thought they would is from being overconfident. If you win a few games, it may make you feel like you have a certain winning formula, but it's never a sure bet. When losses occur, many gamblers double up, rather than just taking the loss. And this typically worsens the situation. It's okay to have confidence, but it shouldn't be a substitute for good bankroll management and self-control. One of the most important things in gambling is discipline and when to quit, no matter how right your predictions are.

[xenomorfo]

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.

sometimes you win, but let's be clear, how often do you win?
if you always won there would be a problem, casinos don't give away money, you can never be positive otherwise the casino would lose out
you have to be slightly negative, that's the casino's profit.

[Ever-young]

This is absolutely correct and I hope many sees this and learn ,I know someone who trust and believe so much on his prediction,you need to see the kind of amount he gambles with ,and with the mindset of he must win ,he trust his  prediction and at the end he loses all the bet,the next game he will definitely increase his stake more ,and gradually he became addicted without even realizing it, gambling is purely luck,they don't ask themselves why losing so much even after trusting so much on their games,it's just how gambling works and many failed to understand this .

Anyone who believes so much in prediction are likely to be addicted, because they know gambling is not built for anyone to predict about it accurately. Even with this story, some people won't still do the needful, as they will prioritize the game than their peace. But, for their own mental wellness, they are to play the game with the right mindset as its the way to enjoy gambling and prevent themselves from what will destroy their lives.