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KaChingCoinDev (OP)
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March 05, 2015, 05:59:11 PM |
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Has anyone here ever made money gambling with BTC? I am meaning the User Side, not the admin side.
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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redsn0w
Legendary
 Offline
Activity: 1778
Merit: 1042
#Free market
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March 05, 2015, 06:01:38 PM |
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Has anyone here ever made money gambling with BTC?
Do you mean the admin of the gambling site or the "player" ? Only a few people has made a lot of money on the gambling the site , but all know that at the end is only a question of luck (and the site will win at 99% of the times). |
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KaChingCoinDev (OP)
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March 05, 2015, 06:04:38 PM |
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Has anyone here ever made money gambling with BTC?
Do you mean the admin of the gambling site or the "player" ? Only a few people has made a lot of money on the gambling the site , but all know that at the end is only a question of luck (and the site will win at 99% of the times). I mean the player. I am doing this because I am tired of seeing posts like "I can't repay my loan for a few days because I lost .xxx BTC gambling", etc. I am trying to show people just how easy it is to lose money gambling, and hard to win. |
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EcuaMobi
Legendary
Offline
Activity: 1862
Merit: 1469
https://Ecua.Mobi
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March 05, 2015, 06:09:13 PM |
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Has anyone here ever made money gambling with BTC?
Do you mean the admin of the gambling site or the "player" ? Only a few people has made a lot of money on the gambling the site , but all know that at the end is only a question of luck (and the site will win at 99% of the times). I mean the player. I am doing this because I am tired of seeing posts like "I can't repay my loan for a few days because I lost .xxx BTC gambling", etc. I am trying to show people just how easy it is to lose money gambling, and hard to win. This is a simple question. On most fair gambling sites there's about a 49.5% chance to win and a 50.5% chance to lose (depending on the house edge). So of course people have won gambling, but other people have lost slightly more. My guess is more people publicly complain on their loses than celebrate their wins. |
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KaChingCoinDev (OP)
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March 05, 2015, 06:13:44 PM |
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Has anyone here ever made money gambling with BTC?
Do you mean the admin of the gambling site or the "player" ? Only a few people has made a lot of money on the gambling the site , but all know that at the end is only a question of luck (and the site will win at 99% of the times). I mean the player. I am doing this because I am tired of seeing posts like "I can't repay my loan for a few days because I lost .xxx BTC gambling", etc. I am trying to show people just how easy it is to lose money gambling, and hard to win. This is a simple question. On most fair gambling sites there's about a 49.5% chance to win and a 50.5% chance to lose (depending on the house edge). So of course people have won gambling, but other people have lost slightly more. My guess is more people publicly complain on their loses than celebrate their wins. You think there is a 49.5% chance to win? |
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EcuaMobi
Legendary
Offline
Activity: 1862
Merit: 1469
https://Ecua.Mobi
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March 05, 2015, 06:15:57 PM |
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Has anyone here ever made money gambling with BTC?
Do you mean the admin of the gambling site or the "player" ? Only a few people has made a lot of money on the gambling the site , but all know that at the end is only a question of luck (and the site will win at 99% of the times). I mean the player. I am doing this because I am tired of seeing posts like "I can't repay my loan for a few days because I lost .xxx BTC gambling", etc. I am trying to show people just how easy it is to lose money gambling, and hard to win. This is a simple question. On most fair gambling sites there's about a 49.5% chance to win and a 50.5% chance to lose (depending on the house edge). So of course people have won gambling, but other people have lost slightly more. My guess is more people publicly complain on their loses than celebrate their wins. You think there is a 49.5% chance to win? Yes, on average. That's what the house edge means on a probably fair site. |
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D4C
Newbie
Offline
Activity: 47
Merit: 0
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March 05, 2015, 06:17:25 PM |
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Got around 0.7 btc with primedice from the faucet.
Ended up with 0 at the end though. I guess the house does always wins at the end.
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Outlander
Legendary
Offline
Activity: 1218
Merit: 1000
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March 05, 2015, 06:18:17 PM |
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I made profit - ( minus ) 12 Btc . I stopped from being addicted about 8 months ago,
Now, I am gambling just for fun, only with small amount.
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L
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March 05, 2015, 06:22:58 PM |
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I'm having some profit playing dice, martingale style, more than 220k bets already, around 30% profit now.
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KaChingCoinDev (OP)
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March 05, 2015, 06:27:23 PM |
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Got around 0.7 btc with primedice from the faucet.
Ended up with 0 at the end though. I guess the house does always wins at the end.
I think we have found the problem... Nobody quits when they are ahead. They keep going till the house wins. |
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bitllionaire
Legendary
Offline
Activity: 1120
Merit: 1000
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March 05, 2015, 08:47:26 PM |
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of course,but it is more a matter of psicologhy than a matter of luck,if you win,but you don't know when to stop you will finally lose, and you have to know to manage your bank
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koshgel
Legendary
Offline
Activity: 1148
Merit: 1001
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March 05, 2015, 08:58:59 PM |
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Most people will lose against the Casino because of the House Edge. Even in Blackjack where you can narrow down the House Edge to under 1% you get a lot of players that don't play basic strategy and increase the House Edge against themselves. Makes it easier for the Casino to win in the long run.
That being said I've probably lost money overall in gambling. Winning streaks make it seem like it's profitable but with win streaks also come losing streaks. In the end it is all entertainment anyway. Not a moneymaker.
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Bardman
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March 05, 2015, 08:59:24 PM |
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Got around 0.7 btc with primedice from the faucet.
Ended up with 0 at the end though. I guess the house does always wins at the end.
I think we have found the problem... Nobody quits when they are ahead. They keep going till the house wins. Yep even with a 0% house edge casinos would still win. Ive never seen anyone come here and say hey i won 10btc gambling but ive seen a lot of people crying about loosing a lot |
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MAsterV
Sr. Member
Offline
Activity: 392
Merit: 250
★777Coin.com★ Fun BTC Casino!
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March 05, 2015, 09:00:14 PM |
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Brimskie
Newbie
Offline
Activity: 42
Merit: 0
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March 05, 2015, 09:29:30 PM |
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Got around 0.7 btc with primedice from the faucet.
Ended up with 0 at the end though. I guess the house does always wins at the end.
I think we have found the problem... Nobody quits when they are ahead. They keep going till the house wins. yeah thats it, the reason why gambling players dont win is because its like they are only waiting for their coins to be gone because they dont know how to stop when they are winning |
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Mist
Sr. Member
Offline
Activity: 434
Merit: 250
:)
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March 05, 2015, 09:31:50 PM |
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Guys, until the human race can develop enough control to stop while ahead, most people will lose. It's as simple as that. All these "Do people win at gambling" threads are fairly pointless because obviously people have won while gambling, but its the people that are greedy that are the big losers.
The reason you see all the "Lost x.xx amount of btc" and less o the "Holy shit i won tons" threads are because of people wanting to mourn over losses more than celebrating wins.
On the other hand,people who gamble with loans are stupid.
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Indamuck
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March 05, 2015, 09:34:15 PM |
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Lots of people win playing poker. I've consistently won small amounts playing poker. Before the spike to $1000 last year I had accummulated ~13 BTC, primarily from playing poker off and on ... (I didn't sell at $1000, lol.)
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RodeoX
Legendary
Offline
Activity: 3066
Merit: 1145
The revolution will be monetized!
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March 05, 2015, 09:36:46 PM |
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Casinos make money from gambling. Why? Because they are not gambling.
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yahoo62278
Legendary
Offline
Activity: 3598
Merit: 4420
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March 05, 2015, 09:39:46 PM |
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i can personally say that ive spent a whole 12$ in my life on btc. and i gamble everyday with btc. i have sold about 6btc in my life also from gambling. so im up a little over a 2 year period with gambling.
i do most of my gambling on sportsbets, seems to be the most fair way to gamble vs all these "provably fair" casinos and such, but ive also made a little off these other sites. the only money ive ever lost on places like luckyb.it, primedice, or moneypot is money that i was up anyways.
so to answer your question YES ive made money from gambling. i agree with alot of others in this thread also though, quitting while ahead is the hard part. i turned a .009 deposit on primedice into over .8 and within a half hour i watched that .8 go all the way to 0. so if youre gonna gamble folks make sure to stop with profits
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Mist
Sr. Member
Offline
Activity: 434
Merit: 250
:)
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March 05, 2015, 09:42:42 PM |
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Casinos make money from gambling. Why? Because they are not gambling.
This is only SEMI accurate. Casino's do take a gamble whenever they allow people to win money. However, they have a safer bet. They are SUPPOSED to win. On the off chance you get someone like nakowa(justdice) or Trolljegeren (moneypot) or The primedice dude that won 2k btc(name?)who does win a SUBSTANTIAL part of the bankroll. The casino loses, obviously. According to probability, the house should win, but they are not guaranteed too. |
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