are we still gambling
- Thread starter eyesfor21
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stainless steel rat
Well-Known Member
answer
1. In the "long term" no. You will win if you play/count correctly.
2. In the "short term" yes. You can win or lose big sums of money when counting. You will win more than you lose, but you _will_ lose some.
1. In the "long term" no. You will win if you play/count correctly.
2. In the "short term" yes. You can win or lose big sums of money when counting. You will win more than you lose, but you _will_ lose some.
I agree with both.........
Basically, if you don't play perfect, have the correct BANKROLL, and play the amount of time that makes up the "LONG RUN" (this is the hook that will get you if you don't have enough bankroll) then I guess it's not gambling, but I'm a little bit more than a begginning player.
Anthony
Basically, if you don't play perfect, have the correct BANKROLL, and play the amount of time that makes up the "LONG RUN" (this is the hook that will get you if you don't have enough bankroll) then I guess it's not gambling, but I'm a little bit more than a begginning player.
Anthony
zengrifter
Banned
Absolutely we are still "gambling"
Automatic Monkey
Banned
Gambling on a different level
If you bet at the Kelly Criterion your absolute risk of ruin is about 13%. This is about the same risk of a woman getting breast cancer. What we're gambling on is not being one of the 13%. Regular self-examination is helpful.
If you bet at the Kelly Criterion your absolute risk of ruin is about 13%. This is about the same risk of a woman getting breast cancer. What we're gambling on is not being one of the 13%. Regular self-examination is helpful.
Off course we are gambling
Just because we are playing with an advantage does not mean we are gambling. If you were guaranteed to win everytime you put a chip in a circle, then I would not consider it gambling, but everyone one of us has had variance bite us often enough to know we are still gambling.
Just because we are playing with an advantage does not mean we are gambling. If you were guaranteed to win everytime you put a chip in a circle, then I would not consider it gambling, but everyone one of us has had variance bite us often enough to know we are still gambling.
Sun runner
Well-Known Member
Anthony .. it's gambling dude.
The sooner you warm up the better.
To make a real long post real short, even if you are playing to a 0.05%
risk of ruin; you are gambling.
Those that are able to do so are just better gamblers than the rest of us.
The sooner you warm up the better.
To make a real long post real short, even if you are playing to a 0.05%
risk of ruin; you are gambling.
Those that are able to do so are just better gamblers than the rest of us.
gambling
Does that mean we are gamling when we drive on the freeway,
we could crash it happens all the time too.
What if we start a business are we gambling too, the sucess
rate for starting ar business is very small.
Lets get the mayors take on the entire subject Iam curious.
Does that mean we are gamling when we drive on the freeway,
we could crash it happens all the time too.
What if we start a business are we gambling too, the sucess
rate for starting ar business is very small.
Lets get the mayors take on the entire subject Iam curious.
So nonzero variance is a sufficient condition for "gambling"
In that case, there's not a single moment in anyone's life when they're not gambling. By this definition, the term is useless; it provides no information.
If, on the other hand, we take "gambling" to include all its connotations in society, then APs are certainly not gamblers. Gambling connotes an activity where the excitement comes from chance alone, without regard to the EV, and in fact, usually despite the EV which is almost always connoted to be negative. Gambling as society understands it is expensive at best and ruinous at worst. Clearly none of this applies to AP. To put it another way, the variance is what makes "gambling" fun and the EV is what makes it undesirable. For advantage play, precisely the opposite is true!
In that case, there's not a single moment in anyone's life when they're not gambling. By this definition, the term is useless; it provides no information.
If, on the other hand, we take "gambling" to include all its connotations in society, then APs are certainly not gamblers. Gambling connotes an activity where the excitement comes from chance alone, without regard to the EV, and in fact, usually despite the EV which is almost always connoted to be negative. Gambling as society understands it is expensive at best and ruinous at worst. Clearly none of this applies to AP. To put it another way, the variance is what makes "gambling" fun and the EV is what makes it undesirable. For advantage play, precisely the opposite is true!
stainless steel rat
Well-Known Member
the definition
gambling means "to take a chance". It doesn't matter whether it is flipping a coin and you pick heads or tails, or even if you pick "edge". If someone bets you some amount that you can't do some task, say bench-pressing 300 pounds, and you just did it last night at the gym, then that would not be a gamble. But if there is any chance of failure, then that has to be a gamble...
Of course, non-counters are really gambling since luck is all they have, but then one could argue they are not gambling at all as they are going to go broke sooner or later...
gambling means "to take a chance". It doesn't matter whether it is flipping a coin and you pick heads or tails, or even if you pick "edge". If someone bets you some amount that you can't do some task, say bench-pressing 300 pounds, and you just did it last night at the gym, then that would not be a gamble. But if there is any chance of failure, then that has to be a gamble...
Of course, non-counters are really gambling since luck is all they have, but then one could argue they are not gambling at all as they are going to go broke sooner or later...
definitions of gambling...
None of these seem to be quite what we think...
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v. intr.
1.
1. To bet on an uncertain outcome, as of a contest.
2. To play a game of chance for stakes.
2. To take a risk in the hope of gaining an advantage or a benefit.
3. To engage in reckless or hazardous behavior: You are gambling with your health by continuing to smoke.
v. tr.
1. To put up as a stake in gambling; wager.
2. To expose to hazard; risk: gambled their lives in a dangerous rescue mission.
n.
1. A bet, wager, or other gambling venture.
2. An act or undertaking of uncertain outcome; a risk: I took a gamble that stock prices would rise
None of these seem to be quite what we think...
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v. intr.
1.
1. To bet on an uncertain outcome, as of a contest.
2. To play a game of chance for stakes.
2. To take a risk in the hope of gaining an advantage or a benefit.
3. To engage in reckless or hazardous behavior: You are gambling with your health by continuing to smoke.
v. tr.
1. To put up as a stake in gambling; wager.
2. To expose to hazard; risk: gambled their lives in a dangerous rescue mission.
n.
1. A bet, wager, or other gambling venture.
2. An act or undertaking of uncertain outcome; a risk: I took a gamble that stock prices would rise
zengrifter
Banned
Yes. anytime the outcome is unknown we are GAMBLING!