I do think that many gamblers are aware of the odds and that the casino has an edge over them. But where else can we have these kind of chances to make a profit? So if we play dice and do 50/50 bets, sure the chance of winning is not exactly 50%, but more 48-49.5%. These are pretty good in my opinion, because we can work with them. We know before hand of our chances and can bet accordingly. If we trade on the stock market for example, we don't know the our odds. We might thing we are having a great deal but it could be that our chances of making money are only 30%. Same goes for the payoff, we never know how high a stock is going to rise.