Is gambling online, a good way to get rich ?

[MathWizard]

I was talking to Taylor Swift in a chatroom last night, and she says all her friends got rich, gambling online....and I've done pretty good gambling in video games, like GTA San Andreas. 

But really tho, can you imagine how crooked online gambling must be ? Some of it in some countries, like Canada, I think is government run, so it might not be as bad.

In real life I've hardly ever gambled, or bought lotto tickets. And I'm guessing some of this online gambling, must be the shadiest of all. A lot of these sites are probably barely any better than the 'Prince that needs $10,000' type scams.

Same with the meme-coins, and a lot of this crypto stuff too, and sports betting, etc. It has to be some of the slimiest, scummiest, intersections of con-men, gangsters, lawyers, drug dealers, psychics, and whatever else.

[nctnico]

The house always wins.

[Analog Kid]

I once won a pretty good size jackpot in Reno; something like $300 playing quarter slots (back in the day when they were still mechanical). Paid for my trip.

But yeah, the house wins, overall.

[tggzzz]

Taylor Swift and friends are right: it is an excellent way to get rich.

[Psi]

I've always embraced the concept that if you're supposed to get free money at any time in your life then it will find a way to you even if you never gamble or enter competitions. And if you're not supposed to get free money then no matter how hard you try it will never come.
So by all means get a lotto ticket or go to the casino once in a while for a bit of fun but there ZERO point in doing it often, you just waste money.

Regardless of if you believe that concept to actually be true, it's a good rule to embrace because it deconstructs the link in your brain
that says "if I just try again I might win" and turns that into, "ah well, guess it's not the time for me to get rich"

[tggzzz]

So by all means get a lotto ticket or go to the casino once in a while for a bit of fun but there ZERO point in doing it often, you just waste money.

You are buying - and getting - hope.

[sleemanj]

Is gambling online, a good way to get rich ?

Sure, if you are the one running the casino.

[Psi]

So by all means get a lotto ticket or go to the casino once in a while for a bit of fun but there ZERO point in doing it often, you just waste money.

You are buying - and getting - hope.

Yeah but is it real hope or false hope.
Better to buy stocks/crypto than play lotto or gamble, at least stocks/crypto give you hope that lasts forever, maybe it will go up eventually, and you don't have to keep paying money for the hope to exist. If you gamble and lose it's over until you fork out more money.

[MathWizard]

I'd trust a Las Vegas casino (doesn't everyone pronounce it Los Vegas ??), before any online one, but yeah, they might be owned by the same people.

[tom66]

Basically the only games you can win at in casinos are blackjack and poker, and that's just because you can apply skill to them (counting cards is not illegal as much as casinos might dislike it).   Casinos do have a right to kick you out if you are too good, they are private property at the end of the day.  And poker is part skill and part luck but you play against other players so I'm not sure it counts as winning against a casino.

I'd sooner take every penny you were going to gamble and buy some random penny stocks, you never know, you might accidentally invest in the next Apple.

[wilfred]

But really tho, can you imagine how crooked online gambling must be ? Some of it in some countries, like Canada, I think is government run, so it might not be as bad.

No need to worry about it being crooked. Crooked or not in the long run you're certain to lose. If you can apply real skill to turn the odds in your favour then I wouldn't strictly call it gambling. It's a bit like the stock market. you can lose for all sorts of reasons that are unpredictable but if you can exploit predictable behaviors in the other players you might get a winning edge. A bit like Poker.

Gamble only to the extent that the act of playing makes the loses worthwhile. That could be as part of a social night out with friends. I just don't see any point to online gambling. You would be better off buying trinkets on Aliexpress or going online to watch Bigclive unwrap stuff he's forgotten he ordered.

But if you hope to win a jackpot when you click online, you've already lost.

[Analog Kid]

Taylor Swift and friends are right: it is an excellent way to get rich.

Surely you mean, in the same way that someone ends up with a small fortune.
How? Start with a large fortune.

[Analog Kid]

(doesn't everyone pronounce it Los Vegas ??)

We used to call it "Lost Wages".

[pcprogrammer]

If it was so that you could get rich from gambling as a norm, gambling would not exist, because where would all the money come from to pay out if they don't make it in the first place.

There have to be losers for there to be winners. 

So no it is more likely to make you pour and possibly get you into trouble. Just take a look at how many people are in debt because of gambling addiction.

Further more, these online sites can well be rigged. Lets you win a couple of times when you are new, but once you are hooked you start loosing more and more. Best to stay far away from it.

But no one here falling over "chatting with Taylor Swift"? Is this normal for her to do so, frequent chat rooms?

[BrianHG]

For a short amount of time, awhile back, the Montreal casino's Keno system used a standard software PRNG to generate it's selection every hour and an idiot back-engineered the code, and bet tiny for a few rounds and told a few other people showing off.  He could have made a few million in a single draw, kept his mouth shut and just bankrupted the casino walking away with a fortune.  But no, he was too stupid to do it right.  Got caught and the casino took the system offline before any damage was done.

You'll never find such an opening today...

And, back at 2019, I was ignored when I told my good friend to invest everything he had into NVidia and wait after it was recommended to me by surprisingly my dentist of all people...

It's getting harder and harder to find sure bets today.

[EggertEnjoyer123]

A lot of gambling websites on the internet are actually provably fair (well fair in that you can verify that the random numbers are fairly generated, not that you're getting a good deal by playing).

They pick a random seed and you select a seed. The two seeds are concatenated and hashed to determine the results of the bets. Of course, since you don't know their seed, you can't rig the system (and also it's impossible to reverse engineer the seed from observations if they hashed it correctly). Their seed is released the next day and you can verify all the bets made during the previous day. They can't rig it either because you can just change your seed at any time and they wouldn't know what seed you'd type in.

Obviously this is not to encourage anyone to gamble, I just find it interesting how they generate the numbers. Please don't gamble guys!

[BrianHG]

You mean you couldn't get a neuronet server farm of NVidia GPUs to work out the next rng while playing...

Unfortunately, there are never enough draws to discern any possible random sequence from numbers in the first place.

I though by now, they would use a hardware noise generator instead of any type of software PRNG with any type of seed in the first place.  That is unless, the user does not have any ability to make his own selection of numbers like that of a slot machine...

[tggzzz]

So by all means get a lotto ticket or go to the casino once in a while for a bit of fun but there ZERO point in doing it often, you just waste money.

You are buying - and getting - hope.

Yeah but is it real hope or false hope.

Evidently people are buying real hope.

I don't; I get my hope by other means.

[tggzzz]

Taylor Swift and friends are right: it is an excellent way to get rich.

Surely you mean, in the same way that someone ends up with a small fortune.
How? Start with a large fortune.

Nope.

For how, see https://www.eevblog.com/forum/chat/is-gambling-online-a-good-way-to-get-rich/msg6081475/#msg6081475

[jnk0le]

The two seeds are concatenated and hashed to determine the results of the bets.  [...] They can't rig it either because you can just change your seed at any time and they wouldn't know what seed you'd type in.

Where are those seeds concatenated and hashed? It's surely not their servers, right?

Their seed is released the next day and you can verify all the bets made during the previous day.

What is preventing them to just map the computed hash to a rigged result at this step? Not that they need to, as games are mathematically rigged, but some might want to rig the early wins, many are just greedy.

I was talking to Taylor Swift in a chatroom last night, and she says all her friends got rich, gambling online...

Did "she" recommend you some specific (chinese owned, of course) online cassinos?

[EggertEnjoyer123]

The two seeds are concatenated and hashed to determine the results of the bets.  [...] They can't rig it either because you can just change your seed at any time and they wouldn't know what seed you'd type in.

Where are those seeds concatenated and hashed? It's surely not their servers, right?

Their seed is released the next day and you can verify all the bets made during the previous day.

What is preventing them to just map the computed hash to a rigged result at this step? Not that they need to, as games are mathematically rigged, but some might want to rig the early wins, many are just greedy.

I was talking to Taylor Swift in a chatroom last night, and she says all her friends got rich, gambling online...

Did "she" recommend you some specific (chinese owned, of course) online cassinos?

It doesn't matter where they calculate the hash because they'll have to reveal all the seeds the next day, and anyone can verify the results on their own computer. If they tried to rig it, then the results wouldn't match, and people would be able to prove that the casino is scamming them, which would probably cause them to lose reputation.

[MrMobodies]

I was talking to Taylor Swift in a chatroom last night, and she says all her friends got rich, gambling online....and I've done pretty good gambling in video games, like GTA San Andreas.  :palm@

Absolutely disgusting. She should not be promoting it on he basis that it will be a win win win. Yes it's her friends and they maybe winning but what do we know about them and their connections into the gambling industry or things they may do to help them win.

[Messtechniker]

As a rule simply forget all kinds of gambling. Nobody has anything to give away for free.

As such gambling is absolutely disgusting. It steals money mostly from the poorest and uneducated.
Some say all gambling should be banned. But if this is done, all gambling will move to illegal sites.
So it is a better idea to have governments run the gambling business making some additional money.
And also providing, through the lottery business, former politicians with the opportunity of earning a bit of additional income without having to do anything. That's the way it is done in Germany.

By the way, it is very hard to find the names of those profiting through the state run gambling business(es). Would surely make an interesting list.

[Gyro]

I'd say the chances are considerably lower than the chances that you were actually talking to Taylor Swift.

[Analog Kid]

So by all means get a lotto ticket or go to the casino once in a while for a bit of fun but there ZERO point in doing it often, you just waste money.

You are buying - and getting - hope.

Yeah but is it real hope or false hope.

Evidently people are buying real hope.

I don't; I get my hope by other means.

Is it hope, or hopium?