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Quote from: magicmexican on December 26, 2015, 06:33:58 PM

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.

You need to read more before you post up bullshit here, clearly you dont understand what you are talking about that is why you are making nonsense post here. Every gambling has negative expected value if you are playing at the house and not player to player game , not just dice

You are absolutely correct. When one bets against the house edge, they are playing with a negative expected value....always. I wouldn't recommend playing against the house for long because the house will always win in the long run. My example above was a poker example which some people still believe is a game of chance and not a game of skill. Some people even think that poker is a form of gambling...lol!

so poker is not gambling?

You are not reading what I mean exactly, poker is player to player game so there is no house edge needed there just the house take some rake from the player but in the other casino games there is always a house edge so you are playing negative expected value , that is why you will lose

I was referring to your last statement "some peopkle even think that poker is a form of gambling... lol" This is mocking tone suggests that youre implying that gambling intrinsically is not a form of gambling?

I think you're confusing the response above your's here as my response to you but it is not. I responded to your question earlier at post #1044:
https://bitcointalk.org/index.phptopic=1186546.msg13415682#msg13415682