Types of gambling and the player's impact
In this post I would like to talk about different types of gambling and level of impact of the player on the outcome of the game. Below I will describe the types of gambling and divide them into the appropriate categories. So, we already know that gambling is united by a monetary basis, risk, a certain benefit of a gambling house, as well as the player's participation, and we know that the level of the player's impact on the outcome is limited.
Gambling with minimal player impact on outcome
This type of gambling includes games such as lotteries, instant lotteries - scratch cards, gaming machines (slots), bingo games, craps, baccarat, roulette (any kind of roulette), as well as many others. All these games are united by the minimal impact of the player on the outcome of the event. This is confirmed by the fact that a 1-on-1 game against other players is not possible. More precisely, it is possible, but again, not the strongest player will win, but the one who is more fortunate.
Here it is necessary to make a certain reservation, existing conditions, such as in lotteries or in slot machines, when a player has big or profitable chances of winning. For example, the lottery jackpot exceeds the chances of winning - which makes it profitable. Or in slot machines there is a concept like “hot machine” which means that the slot game did not give out wins for a long time and now it should throw out a big prize (one of the common methods of playing in a casino), but this is completely impossible when playing in an online casino, so how the generation of numbers is significantly different from real machines?
Interestingly, the players participating in such games enjoy the game process itself, which is really addictive. Even a player who is far from slot machines will like running and changing lines in such slot machines as Batman, Spider-Man, Iron Man, as well as other famous themed games. And when the pleasant visual and sound effects are combined by the opportunity to win a big prize even when playing at the lowest bets ($ 0.01), it becomes clear why slot machines are so popular.
Gambling with an average player impact - poker, sports betting
In this topic I want to discuss very popular gambling games, with which everyone is familiar. And whoever doesn’t know “personally” he probably heard about them. It will be about such games for money in which the player takes a significant part in shaping the outcome of the game. More specifically, I want to discuss online poker and sports betting (other cash games will be discussed in other topics below).
So, let's start with online poker:
For those who have never played poker and do not understand all the intricacies of the game - poker is associated with a very gambling game. For those who regularly play, or rarely play, but wisely, poker can be a very profitable. Moreover, your income from the game is limited only by your own skill, as well as by the level of bets (limit) at which you play. It is for the reason that it is not luck that decides in poker but the experience and skills of the player that makes it one of the most polar gambling in the world. It is worth noting that the element of luck in the game is still not small in nature, perhaps this is why poker cannot be equated with traditional sports, as luck is an important element of the game that can brighten up or vice versa aggravate your financial situation over a long distance of the game and even more so on short. In addition, many poker players do not take into account such an important factor in the game as rake (pay per game as a percentage).
Now about sports betting:
Sports betting is a very complex type of gambling for constant earnings, but very promising and very profitable if done correctly. The difficulty in understanding the entire depth of the game lies in the lack of a clear direction for the strategy of the game. For example, if in poker your actions are due to mathematical expectation, say with two aces after all-in pre-flop, you will have 80% to win, thereby creating a positive mathematical expectation, then this is not the case in sports bets. No, of course there is a certain mathematical probability expectation, the only thing is they do not have such clear boundaries as in poker. In sports betting, players need to have pretty good information about their favorite, have a profitable odd, and stock up on luck.
Of course, we are talking here not about short-term earnings, but about a long-term perspective that will help to make a fortune and become the main source of income for the player. Speaking of short-term incomes, this is achieved in a very easy way both in poker and in sports betting, for example, in poker, a player can play against weak players by mastering the basic correct game skills. In sports betting for quick money, you can bet on a favorite.
Gambling with a big player impact - financial bets
The most interesting thing is that most traders (like other poker players as well) do not classify their niche in the category of gambling. They prefer to call it work, but not a game of chance. I know from my own experience that some traders of financial markets are offended by the words “play on the exchange”, they prefer to call it work. By the way, this attitude to your business is more correct, especially if you are going to make money on it in the long run. Financial bets are considered something more official and complicated than playing poker, in addition to saying I “work in poker” it doesn’t sound like that. Perhaps that’s why they play poker and work on the stock exchange 😊, but that’s not the point. Surely everyone understands that the name of their activity is just a beautiful cover, the main part of the game / work is not on the surface but inside.
Paying attention to the statistics of losers / winners at financial rates, it is worth noting that in terms of interest, the numbers coincide with the game of poker. Namely - about 9%-win, 1% win big, 80% are in the red, 10% are in a hard minus. These very statistics tell us that the exchange game is complex, unpredictable, all the same gambling, however, like any other game with an average player influence, you can curb it and turn it into your long-term income.
Frankly, if you compare poker, sports betting and finances by the complexity of earnings, then they would be located in that order from easy to difficult earnings. I don’t want to say that poker is easy to earn, especially when playing at high stakes. Just poker is a more understandable game in terms of mathematics for the human mind, playing on the stock exchange or forex people do not quite understand what the mathematical expectation of their actions is, since the game uses completely different methods, the study and analysis of which takes years and years of practice!