Quote from: Dewi Aries on Today at 02:55:40 PM

Quote from: shogun47 on November 24, 2024, 11:56:00 PM

It's actually a question nobody can really answer. Think about it, if you buy some lottery tickets and take him a $100 million jackpot, then for sure gambling has changed your life dramatically for the better. But if the hope is to improve life sustainably through constant gambling, then I am not so sure. It should most likely be for pleasure, which can still be a good thing unless you lose so much money that it affects your life in general.

That's right, maybe I'll say the reason for what you said about why the success will not happen continuously, the reason is because there is no consistency in terms of winning, that's what is called opportunity, and as we experience as gamblers where sometimes we win and sometimes we lose without us knowing about what makes it happen, so it means getting a win in any amount or an amount that can change your life is indeed possible in gambling but it will only happen occasionally, so this is the reason why we should never put excessive expectations on winning in gambling, none other than because in any case defeat will always be part of the game that can happen at any time without you expecting it before, and with that I will also say that there is a possibility for you to experience losing the amount of winnings that you have previously obtained. All of that indirectly becomes the reason why gambling cannot be used as a place to earn income.

No I think the simplest reason of them all is because the odds are against you in the long run. They are against you in the short run as well, but variance might be on your side. However, the impact of variance on you being lucky over time decreases the longer you go and gamble. If the odds are 49% of winning against 51% of losing, in the short run you could win 10 times or 15 times in one go without losing in the meantime. But if you run the lottery or the slot machine 100,000 times, the numbers or the results I should say, will gravitate towards you being a loser 51% of the time. There is no strategy changing that for as long as you play odds that are <50% in your favor.

I think that is the reason I like the lottery because you know upfront you won't win. No need to get excited when the numbers are drawn on TV or an Internet show because you lose anyway. But there is some appeal to that. Knowing that you will never win gives you a peace of mind if you have your cost under control for lottery tickets. If you pay 10 bucks a week for being part of a lottery, it probably won't affect your life too badly and yet you know that if for some reason you hit it, then you hit it big, like really big. In a slot machine you can quickly get caught hoping variance will turn your way again. But you wouldn't hope the same buying a lottery ticket. You would simply take it as it is.