Post
Topic
Board Gambling discussion
Topic OP
What we should know about gambling.
by
Berryfolia
on 13/07/2025, 21:59:44 UTC
1. For games where the house edge is positive but not very high,which is the most table games and your chance of winning is not that low.As a first order approximation,the games are a random walk.For example,if you come in with $500 and your goal is to stop betting as soon as you reach $750,and your average bet size is not too small(which would increase EV for the house),then your chance of success is approximately 2/3. If you include the house edge and other friction e.g tipping the dealer,you are still at about 60% and if you know you have negative EV but want to play socially and feel good about winning most of the time,this is not a bad strategy to use

2. In some cases,the house edge is negative and strong players can take advantage of those cases.

3. Poker is more biased toward skill than luck,so if you are a beginner,it is pretty far from a random walk with small negative EV. If you play for a few hours,you will probably lose 80-90% of the time.
        So if don’t want to lose too much
        While learning the game,you need to                 
        Start at the lowest stake tables
        Possible(e.g $1-$2) and move up from
        there,then you need to know that you
        shouldn’t expect to win as a beginner
        and look at your modest losses as
        “tuition”until you get better.

        In all the point above,it is
        important to commit to a certain
       strategy that is pre-determined and
       leave emotion at the door.