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RE: Is Gambling Profitable?
But losing small sums of money over 2 decades can also become a fortune lost.
If you haven't kept records how much you've gambled, then you have no way of knowing how much you've lost.
Yes but you will still face the mathematical inevitability. In the long term you will guaranteed lose, it is not a question if, but a question of when.
Every single bet has a negative expectancy, and the more you play the higher is the total probability that your profit will go to negative.
https://en.wikipedia.org/wiki/Law_of_total_probability
https://en.wikipedia.org/wiki/Law_of_large_numbers
Let's say that I don't always lose and that I'm not a frequent visitor of land based casinos. The above record shows that I don't lose frequently. I'm up at every single coin except PlayMoney which is free for experimenting and peercoin which I have gambled with what the faucet of the casino has provided.