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Quote from: Ninjaskills on September 02, 2015, 12:43:42 AM

i can make money from gambling

you can make money with gambling if you are 100% sure winner all the time, but if not, then it's not a good way of growing your bitcoins

Well you dont need to win 100% of the time to be a winner in a real life casino, you only need to push the percentage in your favor to about 51% and have deep pockets to withstand some bad luck.

don't you think if its just 51% winning is just break even?
maybe 75% wins that will make money
but again, it's based on chance and luck. not my cup of tea

If there was no house edge, you should break even.
When you go to Primedice, you should notice that at 2x payout the win chance is 49.5%. This is because Primedice has an 0.5% house edge, and this is why it is not profitable to play Primedice in the long term.

I am not interested in growing my bitcoin through gambling,
But for curiosity what role has this house edge that you have mentioned?
How does it affect in your earnings in this case for long term

It means that out of 100 bets with 50% chance you will lose 49.5 bets and lose 50.5 bets when house edge is one percent.

At 2x payout you will have a chance of 49.5%, which is a house edge of 1%, not 0.5%.

I'm no pro, so someone correct me when i'm wrong.

Well ok, i dont know much in the gamling/betting terminology but seems that some profit goes to the website owner.

Of course. They create their sites to profit. As well as the investors invest to profit. Though saying that, luck can make that you win 100 bets. There is a variance. But over time you will lose with mathematical insurance.

Gambling is definitely not a way to grow your investment. As long as you don't have a way to raise your chance so that you have an advantage. Then, over time mathematics would be on your side. But there are only some games where this is possible.