I have repeatedly come across the fact that the number and popularity of casinos and bookmakers is growing in the world. But what are the reasons for this?
1. What percentage of betting players are long-term winners?
We have discussed this topic many times, but I still wanted to know the exact numbers, discuss the sources of these numbers and compare these numbers with each other. In addition, it would not hurt to know the details of these studies and the features of these methods.
I want to know what percentage of players in sports betting and on prediction platforms are long-term profitable.
First, I would like to know - are there any authoritative studies on this topic?
Do bookmakers or prediction platforms themselves publish statistics on the percentage of profitable players in relation to all other players? Does this information differ between different sources? Is there a difference in long-term profitable players in bookmakers and on prediction platforms?
I have come across different numbers. Some argue that only 1% of players are profitable in the long term. Others say that less than 1%. Still others claim that the number of such players is 0.01%.
I would argue that to be 0% as over the long run no one is able to keep up with the casino. Especially the people playing slot machines or luck games they have exactly 0% chance of being profitable in the long run even if they hit the max win multiplier or the jackpot as I have seen this first hand people winning with 500 dollars x1000 multiplier in Plinko, winning 500.000 dollars and complaining to be still behind and to have lost much more than this hit they gotten. In sport betting is the same although we may have volatility here as it can go from 0 to 10% during certain periods of time when things are going well and the gambler is winning consistently, though even here in the long run things will get to 0 sooner or later, so such thing for me does not exist.