Ok, not it’s a gamble, but it’s you who gambles. Do you know the expression ‘the house always wins’? It’s because in casinos, it does. Does that mean you can’t get rich in a casino? No, in fact, you can. But the odds are stacked against you. And in the end, as there’s no limit to the amount of games played in the casino, the casino always wins.
How does this work? Easy, first off, you need to remember that a chance percentage is a reflection of the moment. So, what’s the chance of throwing the dice 3 times six? Simple, it’s 1/6*1/6*1/6= 0,0046 or 0.4 percent. However, if I managed to throw one die a six already, my chances grow exponentially to 1/6*1/6= 0,027 or a whopping 2,7%. But for the casino, there’s no limit. So, as long as the chance of winning stays under 50%, the house always wins. And still you can as well. You just need to stop in time.
Will it make you a millionaire? That depends on the amount you started with. Take roulette. Working with the one-zero table (american casinos often have two zeros, lowering your chances to one in 38), the chances of winning are 1 in 37. Yes, that’s right. and the winnings are 36 times the bet. So, to win a million, you either have to bet with €27.777,77, or 3 times leaving your winnings starting with a little over €21,- (a chance of 0,000197%).
Obviously, in other games, the chances are different, but the best you’ll ever get is 49,5% chance of a win. And obviously, the win is dependend on the bet.
All in all, gambling is not a surefire way to become a millionaire. The other way ’round is far more likely. On the other hand, if you’re in an area where it’s allowed and the taxes are not too extreme on gambling, opening a casino sure can make you one. But that’s hard work.