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.

[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 .

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.

You see that knowing when to quit and self discipline is the most important thing, because winning has a way of dealing with people's mental health, once they have won twice or more with there prediction,they began to think is very easy just because they have won before , forgetting gambling is a game of uncertainty,if one is lucky today doesn't mean they will be lucky tomorrow, another thing many play out that will make your prediction goes down the wrong lane ,that mindset need to be erase from many .

[ThemePen]

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.

In addiction research, this is called “loss-chasing” , when you lose money, you feel forced to go back to the game to get it back. And that it triggers the same brain reward pathways that are linked with addiction to drugs and alcohol, not only weak willpower. They feel the pain of losing money about twice as much as the pleasure of winning the same amount, which is why they do not just walk away.

[drangos]

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.

One of the most dangerous pitfalls of gambling is getting too cocky. Players often think that if they have gotten it right a few times then they must be skilled and throw in some more of their money and hope for a major prize. In fact betting larger does not mean that you have a better chance of winning. It simply means that you risk losing more money. It's OK to be confident. But it's not an excuse to neglect bankroll management and self-control. Gambling is a good form of entertainment and not the guaranteed method to make money. Since luck can change at any time.

[danherbias07]

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.

If all gamblers will win at a certain time, then there's a big problem with the online casino's system. I bet they will quickly put the website in maintenance and probably roll back everything to the point where all the gamblers suddenly won. That means it's a bug in the system, and casinos won't like that.

Slightly negative, you say; I think we have to be 50/50 on that. We cannot expect too much, but we can be pessimistic as much as we can if we want to. It's okay to be optimistic sometimes, but it just leads to more deposits and probably bad decisions where we increase our bets, which results in losing our money quickly.

[fruktik]

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.

A casino will never operate at a loss. It's simply impossible these days. And it was the same way before. Are there still people looking for ways to beat the casino? It's almost funny to read about it. It's simply excessive naivety that will backfire sooner or later. You need to accept that your chances of winning are incredibly small. You should accept it and always keep this in mind. Then you won't experience undue disappointment.

[Johnlomape]

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.

A casino will never operate at a loss. It's simply impossible these days. And it was the same way before. Are there still people looking for ways to beat the casino? It's almost funny to read about it. It's simply excessive naivety that will backfire sooner or later. You need to accept that your chances of winning are incredibly small. You should accept it and always keep this in mind. Then you won't experience undue disappointment.

I have never seen a situation where gamblers were able to beat a casino. Many people have be saying and anticipating on this but the chances of this happening is impossible. Casino have different features that can be used to beat a player why I think a gambler has non that is capable of beating a casino no matter the tactics used while playing games. A casino can do anything posible that will help to make a player vulnerable when they know that the player is up to something or has been using manipulative moves to bets.

[CryptoHeadlineNews]

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;

From my own understanding, I think the probability that a casino game gives is independent on its own and not a cumulative expected outcome. And by that I mean, when a casino game states that you stand a 55% chance of winning, and 45% chance of losing, it simply means that chance revolves round every single bet you place. Because it is very possible that you place a bet 10 times and you will only win 3 times and loses 7 times, simply because each bet was treated independently, whose outcome was a product of random algorithm. And it's still also possible that you might play that same 10 times and win 8 times while you lose only twice, simply because the outcome never took record of its previous performance, as a tool to determine its next outcome, but rather it just happened base of random algorithm. And this is only possible for a casino that operates fair games, because it is possible some casinos could manipulate theirs. However, in a general scenario, it's possible to lose 700 bets out of 1000 bets, and that's how casino makes their money.

[DPHOR]

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.

A casino will never operate at a loss. It's simply impossible these days. And it was the same way before. Are there still people looking for ways to beat the casino? It's almost funny to read about it. It's simply excessive naivety that will backfire sooner or later. You need to accept that your chances of winning are incredibly small. You should accept it and always keep this in mind. Then you won't experience undue disappointment.

Anyone who is gambling usually sets their hope higher than expectations but what you would keep at the back of your mind that majority of people who are gambling is always optimistic about making a big payout from the casino but has forgotten that the gambling site doesn't work that way. The chances of the gambler to make higher winning are something that is extremely poor and the percentage as we know always 1/10, meaning in every single lost the casinos wins more 10 times before you could possibly win.

[Versatile_choice]

I have never seen a situation where gamblers were able to beat a casino. Many people have be saying and anticipating on this but the chances of this happening is impossible. Casino have different features that can be used to beat a player why I think a gambler has non that is capable of beating a casino no matter the tactics used while playing games. A casino can do anything posible that will help to make a player vulnerable when they know that the player is up to something or has been using manipulative moves to bets.

For sure, the casino was built in such a way that it will take alot of time before you can get them, and once a gambler succeed for the first time, if care is not taking they might as well loss back the whole of the wining to the casino unless they will have to take a break or they withdraw some portion of thier wining. Because if you leave your wining in the casino with the hope of increasing it maybe 2x the amount you won in your previous bet, you will be surprise to loss the whole money back to the casino. that is to show how hard it was to outsmart the casino.

[Crypto Library]

For sure, the casino was built in such a way that it will take alot of time before you can get them, and once a gambler succeed for the first time, if care is not taking they might as well loss back the whole of the wining to the casino unless they will have to take a break or they withdraw some portion of thier wining. Because if you leave your wining in the casino with the hope of increasing it maybe 2x the amount you won in your previous bet, you will be surprise to loss the whole money back to the casino. that is to show how hard it was to outsmart the casino.

At least this is true for me that when ever I tried to make gambling and winning some amount from the wager and if I don't withdraw them sometime I lose my control in myself and as well lose all the fund also. 

In this case, I at least think that when I increase my expectations and gambling amount, instead of changing my luck, my luck actually gets worse. In my case, there have been many times that I have won an amount but I got greedy and tried to win again but this time there was only loss.
So my personal strategy for gambling is to always limit myself to small amounts.

[Queen uloma]

For sure, the casino was built in such a way that it will take alot of time before you can get them, and once a gambler succeed for the first time, if care is not taking they might as well loss back the whole of the wining to the casino unless they will have to take a break or they withdraw some portion of thier wining. Because if you leave your wining in the casino with the hope of increasing it maybe 2x the amount you won in your previous bet, you will be surprise to loss the whole money back to the casino. that is to show how hard it was to outsmart the casino.

At least this is true for me that when ever I tried to make gambling and winning some amount from the wager and if I don't withdraw them sometime I lose my control in myself and as well lose all the fund also. 

In this case, I at least think that when I increase my expectations and gambling amount, instead of changing my luck, my luck actually gets worse. In my case, there have been many times that I have won an amount but I got greedy and tried to win again but this time there was only loss.
So my personal strategy for gambling is to always limit myself to small amounts.

This is a good lesson that many gamblers is supposed to learn from. Greed has made many people lose money that they have already won before. Once someone  begin to have the mindset of “one more bet” this is where the problem begins. Setting limits and withdrawing your wins early can help reduce the temptation of keep gambling until everything is finished. Even with that strategy, it’s good to remember that gambling doesn’t guarantee profits. Today may favour you, tomorrow maybe a day of loss because every bet is an independent event.

The most important thing is to still gamble only with money that you can afford to lose and stick to your limits irrespective of anything that happens. Discipline is one of the difficult things in gambling but it’s just the only thing that can prevent someone from turning one little session into a big financial mistake.

[Rubuchi]

This is a good lesson that many gamblers is supposed to learn from. Greed has made many people lose money that they have already won before. Once someone  begin to have the mindset of “one more bet” this is where the problem begins. Setting limits and withdrawing your wins early can help reduce the temptation of keep gambling until everything is finished. Even with that strategy, it’s good to remember that gambling doesn’t guarantee profits. Today may favour you, tomorrow maybe a day of loss because every bet is an independent event.

greed in gambling has claimed lives and I think the dangerous part is that greed do mostly appears after wins and not just during loses alone. The trick is, somebody wins a game and instead of the person to be satisfied with their wins, the next thoughts that come into their mind is making even more and these are the reasons why they want to jump on another bet and that’s how somebody will just lose everything including the original money they had and the profits they had made earlier. By setting limits, it can really control that but when you are well disciplined, it will even make it more meaningful for you to keep to those limits and sustain yourself for a longer time gambling without accumulating much regrettable losses

[Kelward]

I have never seen a situation where gamblers were able to beat a casino. Many people have be saying and anticipating on this but the chances of this happening is impossible. Casino have different features that can be used to beat a player why I think a gambler has non that is capable of beating a casino no matter the tactics used while playing games. A casino can do anything posible that will help to make a player vulnerable when they know that the player is up to something or has been using manipulative moves to bets.

For sure, the casino was built in such a way that it will take alot of time before you can get them, and once a gambler succeed for the first time, if care is not taking they might as well loss back the whole of the wining to the casino unless they will have to take a break or they withdraw some portion of thier wining. Because if you leave your wining in the casino with the hope of increasing it maybe 2x the amount you won in your previous bet, you will be surprise to loss the whole money back to the casino. that is to show how hard it was to outsmart the casino.

When luck is involved in an equation it means that mathematics cannot be effective most of the time, any experienced gambler would know that the probability of losing your money in gambling is higher than winning because of the house edge of casinos. As long as casinos remain somebody's business you cannot expect them to structure it in a way that they wouldn't be making profit off their gambling customers.

Casinos have structured their businesses that a few gamblers will always win everytime to give hope to losers that their day will come, another time a loser will win while previous winners would be losing their wins to the casino. There is no win win for gamblers and casinos, except you win a lot of money and quit gambling if not their is high chances that you will lose all the wins back to them on the long run.