Is Gambling a Losing Game in the Long Run

[Lodas231g9]

My brother was actively involved in online gambling casinos and gambling for about three years. During that time, he invested a lot of time and money and he also gained considerable experience with casino games. However after those three years, the result was that he lost most of what he had.

Watching his experience led me to believe that, in the end  people who engage in gambling usually end up losing..

[MAAManda]

First of all, you need to understand the basic concept of business, the goal of business is to generate profit & gambling platforms are a type of business. In a casino, there's a House Edge (HE), which represents the aspect from which the platform derives its profit. For instance, if a casino has 3% House Edge (HE), it will earn 3% of the total daily betting volume, regardless of whether players win or lose. The house never loses, simply put, they act merely as a bridge for players & charge them a fee, so there's no loss involved for them.

[Charles-Tim]

There is no two reasons people need to be gambling, it should be because of one reason and that is entertainment. If it is going beyond entertainment to seeing a means of making money, it is better such person should not gamble at all. That is the reason they are losing more than necessary.

All gambling sites terms and conditions that I have gone through before including Stake.com are all mentioning that gambling should not be beyond entertainment reason. If you are going beyond it, they will not care, but you supposed to be wise on your own.

[Samlucky O]

My brother was actively involved in online gambling casinos and gambling for about three years. During that time, he invested a lot of time and money and he also gained considerable experience with casino games. However after those three years, the result was that he lost most of what he had.

Watching his experience led me to believe that, in the end  people who engage in gambling usually end up losing..

You can't use your brother case to justify everyone, we all knows that gambling is a risky game that involves more loses than win but however there are people who have benefited from it big time, some even win back to back on a streak. Everyone can not be lucky in Gambling and your brother happens to be one of those who are not lucky, so don't use him as a case study to judge others, there is still positive testimony from some other gamblers who where lucky.

[yahoo62278]

My brother was actively involved in online gambling casinos and gambling for about three years. During that time, he invested a lot of time and money and he also gained considerable experience with casino games. However after those three years, the result was that he lost most of what he had.

Watching his experience led me to believe that, in the end  people who engage in gambling usually end up losing..

If you play the same game at the same stakes over a billion bets, then yes gambling is a losing venture. The house edge will eat you alive. That doesn't mean that you yourself will only lose if you gamble. You could place 1 spotsbet, win it, and quit forever making it a profitable venture for you personally, but as well all know, most who gamble will keep gambling and take a big loss.

If you play smart and disciplined you have a chance at not being like the masses and become a profitable bettor. If you're a degenerate and like to take risks you will either become extremely rich or extremely deep in debt.

[Decimetre]

My brother was actively involved in online gambling casinos and gambling for about three years. During that time, he invested a lot of time and money and he also gained considerable experience with casino games. However after those three years, the result was that he lost most of what he had.

Watching his experience led me to believe that, in the end  people who engage in gambling usually end up losing..

You're generalising everyone else with your brother's experience which is not a good means to conclusion because there are still people who make various degrees of profits at some point in their gambling days. Gambling is not like a job where you are sure to get your profit or at least payment at the end of the month because it is a game of luck. When a person is winning in gambling, how he handles the money he is making from gambling will determine how his life will be in the future. Gambling success is not always happening so whenever you win a bet without investing a part of your win in something that will be bringing you money, when the god of luck turns against you, that's when you end in total loss. I have seen some people who built a house with gambling and I have seen people with many other achievements from gambling. So it is not in all cases that the end of every gambler will go down to failure.

[Aanuoluwatofunmi]

Watching his experience led me to believe that, in the end  people who engage in gambling usually end up losing..

There are some facts that have to be well understood about what gambling is and how we should position ourselves with expectations from it.

1. Irresponsible gambling could lead to more losses in gambling than winning because of the manner in which The Gambler gambles on high-risk.

2. In gambling, there is a high probability of losing compared to winning; every Gambler is expected to prepare his mind for this and take it as fun and not a chase after winning.

[Porfirii]

Watching his experience led me to believe that, in the end  people who engage in gambling usually end up losing..

-snip-

2. In gambling, there is a high probability of losing compared to winning; every Gambler is expected to prepare his mind for this and take it as fun and not a chase after winning.

And, although it is tremendously unusual, a percentage is able to win against all odds. Very few people would gamble otherwise.

But, in order not to be disappointed, it is better not to have illusions from the beginning. I think if you take it as entertainment, you'll enjoy it more when you win and you won't suffer less when you lose.

[Natalim]

Losses are already part of gambling, in fact some even lose at first before they start making profitable wins from gambling. Luck does not only happen on your initial bets, sometimes its in the middle or at the end of the game, and any gambler may experience losses alongside.

However, having this conclusion that gambling is just a losing game in the long run, I bet to disagree. There are some lucky gamblers who made fortune out from gambling, and there are those who made bigger wins compared to their losses. But if luck does not happen to be on your side, or you gamble without prior knowledge and skills on the game you bet, obviously you will only lose in the end. Those who also prioritize greed when gambling will surely lose than win in the long run.

[DanWalker]

My brother was actively involved in online gambling casinos and gambling for about three years. During that time, he invested a lot of time and money and he also gained considerable experience with casino games. However after those three years, the result was that he lost most of what he had.

Watching his experience led me to believe that, in the end  people who engage in gambling usually end up losing..

It's not just bad luck that's the issue. You know, house edge is the long term mathematical advantage of any casino. So even if you win for a few days or a few month and  if you keep playing same way then that statistical advantage slowly wears off.

But I would also say that everyone loses everything in the end is not entirely accurate.

I set a specific budget from the beginning. And I stop when I hit loss limit. I just consider these as entertainment expenses. Not with the hope of making any profit. But don't think, I would not love to make profit,  

[OgNasty]

The longer you gamble the more likely you are to fall victim to statistics. That being said, you are also more likely to win a jackpot that way. The only sure way to come out ahead is to be constantly increasing your bet over time and then never gamble again when you hit a jackpot that puts you ahead. Most people can’t do this.

[Fiatless]

My brother was actively involved in online gambling casinos and gambling for about three years. During that time, he invested a lot of time and money and he also gained considerable experience with casino games. However after those three years, the result was that he lost most of what he had.

Watching his experience led me to believe that, in the end  people who engage in gambling usually end up losing..

Your brother didn't share why his gambling experience after three years was regrettable. The truth is that more people lose than win in gambling. But there are still a few people who are fortunate to even win big.

First of all, you need to understand the basic concept of business, the goal of business is to generate profit & gambling platforms are a type of business. In a casino, there's a House Edge (HE), which represents the aspect from which the platform derives its profit. For instance, if a casino has 3% House Edge (HE), it will earn 3% of the total daily betting volume, regardless of whether players win or lose. The house never loses, simply put, they act merely as a bridge for players & charge them a fee, so there's no loss involved for them.

The house edge makes the casino make a profit. But it is not the sole reason why gamblers end up losing in the long run. Some gamblers make money from gambling. Bankroll management, betting strategy, experience, and planning also play important roles in the success or failure of gamblers. The house indeed has the edge, but gamblers also have major roles to play in maintaining a healthy gambling experience.

 

[Ziskinberg]

If this is actually true, then you won't be seeing new gamblers who would like to take risk in gambling. But what is happening now is the total opposite, a lot have rush into gambling due to ads in social media, and due to some gamblers' successful stories that made them rich all throughout gambling. Your brother's story is just a very small portion of experience in gambling, and it should not be a sole basis to generalize gambling.

However, I understand that there is house edge that will ensure that casinos won't lose money gamblers. But there are times that the house will be taken advantage, because the gambler turns wise and smart bettor, and he knows how to play the game well with skills and discipline.

[Bryan jessy]

Not automatically, some persons have made more wins than their losses in gambling games they are just always lucky, but some persons happens to be unlucky with gambling games as they never make wins they are always losing, it just happens, gambling games are unpredictable, and a lucky game at times people win when they least expected and losses as well, this does not make gambling a lose game it's just a risk that whoever that is ready to risk his money can willingly take and prepare to face what lays ahead, this same gambling game has made some people billions today for those who played smart, and enslaved those who does not have control over it.

[Nanga Parbat]

I wonder who would gamble for so long and that too on the basis of losing every time. If your brother had seen that he had lost everything, he would have stopped gambling. I have seen people who gamble every day and play for short periods in which their goal is to make a profit. Gambling does not ruin you, but you yourself are ruined by thinking irrationally in it. You cannot guess anything in gambling because everyone has a different way of playing it. If you see two different people, one has lost and the other has won, and ask them about their opinions, the loser will say that gambling is not for us, it is only a loss. And the other winner will say that in it you win and get double the money, so you cannot judge anyone in this.

[PostQuantumBTC]

Not automatically, some persons have made more wins than their losses in gambling games they are just always lucky

From the profit and loss stats of people that are gambling, almost all gamblers are losing but you said some people are winning and always lucky which I see to be very wrong or you are always lucky while gambling and which I do not think will be true. All I know is that people should be gambling in a responsible way, they should not be gambling in a way that they do not have money to use for something else than gambling.

[Sim_card]

Yea, that's gambling for you. Most gamblers run at loss in the long. Only a few can be in profit in the long run and it's rare to see. Gambling is a game of luck and luck comes by chance which makes it impossible for you to outsmart the casino or sportbook. See gambling as a means of entertainment so that, you wouldn't be affected by your losses.

[Alex077]

First of all, you need to understand the basic concept of business, the goal of business is to generate profit & gambling platforms are a type of business. In a casino, there's a House Edge (HE), which represents the aspect from which the platform derives its profit. For instance, if a casino has 3% House Edge (HE), it will earn 3% of the total daily betting volume, regardless of whether players win or lose. The house never loses, simply put, they act merely as a bridge for players & charge them a fee, so there's no loss involved for them.

Overall, I agree with your point, but I think there's an important distinction. The house edge is a long-term statistical advantage, not a guarantee that the casino will make money every day, its not  a guarantee of profit from every single bet or every single day of operation.
So I'd say it's more accurate to say that casinos make money because of their mathematical edge over the long term, not because they "never lose." And the way I see it, that advantage is what allows casinos to remain profitable in the long run, despite the occasional big wins by individual players, which, in turn, also serve as good advertising for the casino itself.

[cxtreenal]

My brother was actively involved in online gambling casinos and gambling for about three years. During that time, he invested a lot of time and money and he also gained considerable experience with casino games. However after those three years, the result was that he lost most of what he had.

Watching his experience led me to believe that, in the end  people who engage in gambling usually end up losing..

Your concept is not entirely correct. If a gambler gambles for 2 years and can determine the percentage of his winnings during this period, you would realize that not everyone loses. In my experience, I have realized that an experienced gambler wins an average of 50% or more of his bets in a year. But those gamblers cannot stop gambling in time, so they lose bets and their losses increase later.

If a gambler wins several times at the beginning of the gambling game and can stop playing, then he has the opportunity to enjoy gambling, but most gamblers try to win more and continue gambling. This kind of mentality leads to losses for most gamblers at the end of the day.

[Orpichukwu]

Watching his experience led me to believe that, in the end  people who engage in gambling usually end up losing..

To be honest, you are on the right track; gambling winnings are less than how many times a player loses in the long run. Only a few percentages of players are lucky enough to be winning in the long run, so thinking about gambling that way is safer, as you have to keep it at the back of your mind and only risk what you know you can lose without having the expectation that the money will multiply. it’s a sad reality many refuse to accept.