How You Get Robbed When You Gamble (Crypto), With Details
Gambling... What you know about gambling guys? Gambling is something that you should never get into. Gambling system is made by smart people, gambling relies on greed of people who always want more. Nobody got rich gambling excluding professional poker players and this type of guys who know how to play the game. I will tell you how gamble works in my opinion (the basic gamble where you invest your funds into something with hopes to get profit) - at first the system will be friendly with you because it learns your plays, you will get huge rewards for your investment and the greed in you will push you forward to gamble more and more. After some successful wins the system will already know how you play, it is inevitable. Let's suppose that you started gambling and you had a 70% chance to win, (hidden chance, the system will never let you know the percentage that is applied, the only thing you will ever know is that it's random chance) after those successful wins the system simply change the 70% you had at the start to 30%, here you start losing money. Gamblers always lose money! The only ones who win here are the creators of those games.
- You won't get rich gambling.
- You will lose all your money if you like gambling.
- Gambling is a scam made for weak handed people.
- Gambling should be illegal.
- Becoming addicted to gambling means your life is over.
It's enough to look at some graphs/charts of those games to get an idea of what is going on and understand that it's literally a bad idea to invest your money into gambling, when you lose at this games it's the same as throwing your funds through the window. Some games are more legit than others, that have to do with devs grace, but in the end all this devs are the same, they want to rob you.
I will leave here this link so you guys can see what is going on in a live gambling game where people gamble their crypto coins.
You will notice that there is much more losses (red letters) than wins, invest your money into something stable guys, even day trading shitty crypto coins at bittrex will get you way more profits than directly gambling your money in this stupid shameless games, made to take your money away.
https://novaexchange.com/dice/
And yes I think novaexchange.com is scamming people, they claim the following:
Disclamer;
Placed bets are final. Wins or losses is accounted to your balances the instance you win or lose. Play to have fun - and to win! Each roll is randomly generated on the fly by the server using this code: " rng = random.SystemRandom(), seed = rng.randint(0, sys.maxint), random.seed(seed), roll = random.uniform(0.0, 100.0) ". This guarantuees that each roll is randomly generated for you. Good luck!
Obviously they are using a different code, because the losses we see in the link I provided are way, waaay higher than wins, it is not random at all, and yes I am talking not only based on what is showed on their site, I talk based on my own experience on this particular exchange, okay? Keep your money safe guys, peace and love! by @morpheus03
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They are many people who play just to play no matter the gonna win or lose, but they enjoy the game. They like to bet and try thier luck , they are addicted what they doing, they take life itself as a game which evert thing is given by chance to those who have luck. They are sick people and what they do is truly pathetic. Great article @morpheus03
Yup, also they forget about their families, kids, bills.. sometimes.
Is always very dificcult to trust in online gambling, we never know if they really are using normal odds. The normal odds allready is profitable for the house and if they even change 2% or 3% becames a scam basically
Yup, the thing is that there is always people involved in gambling games.. And those are the preys of creators.
there is a blockchain that hosts gambling where the odds are published and accountable. funfair.
I guess you are talking about this
https://pharesim.github.io/steemdice/
I love it <3
It seems legit by the way.
I'm talking about this:
https://funfair.io
That's not really what probability says. If you have a 70% chance to win a particular game, your chance to win or lose the next game doesn't change. you still have 70% chance to win the next game.
what does change is the probability that you'll lose at least once. so, over two games, your chance to lose one game is 1 minus the probability of winning both games, which is 1 - 0.7 * 0.7 = 1 - .49 = 51%
the ultimate calculation as to whether a bet is worthwhile is Expected Value, which is your potential payout times probability of winning, minus potential loss times probability of losing. if expected value is positive, the bet is worthwhile.