Post
Topic
Board Gambling discussion
Re: Can gambling be profitable in long term ?
by
cjmoles
on 31/12/2015, 23:52:19 UTC
Gambling does not equal spewing your money @dice and roulette.

Can it be profitable long term? Sure.

Lets say you flip a coin with your friend, and every time he wins - you pay him 1$, but if you win - he pays you 1$ and 10 cents. Does that qualify as gambling? Yes - there is a a) wager with a something of value 2) even with the uncertain outcome 3) prize

Why will it be profitable for you longterm in that example? Because odds are on your side.

So yes, certain types of gambling can be profitable longterm

Yes you can if the house edge is positive but your example doesnt exist in the world of gambling, house always have the edge on them to make sure you dont win in long term. In flip a coin game, each time you win you get 0.98 $ back and each time you lose you pay 1 % so in long run you will keep losing

It does exist in the real world: pocket AA against pocket KK...cha-ching, baby, the sound of money!  There are plenty of occasions where one might find themselves in a situation where they have the odds in their favor.  They just have to learn the math and be able to recognize the opportunity.  Avoid playing when your EV is negative and get it in good when your EV is positive....that's all.  Dice has a negative EV because of the house edge, enough said.