Is this not an effective method of gambling?

[etalns]

Let's say you want to make a quick $50 every few days.

Wouldn't this work? I realize there is the potential to lose money 😉 but it seems to be quite small.

Play Roulette
Bet $50 on black or red
If you win - leave.
If you lose - bet $100 on black or red.
IF you win you are now even. Start back with $50.
If you lose - bet $200 on black or red.

Continually doubling your bet until you win back your money. Obviously with the odds being (nearly) 50/50 for black/red, you are bound to win sooner or later. Is that why they keep the maximums on roulette at $500 for most tables?

 

[kranky]

Originally posted by: Qosis
Let's say you want to make a quick $50 every few days.

[smip]

Continually doubling your bet until you win back your money. Obviously with the odds being (nearly) 50/50 for black/red, you are bound to win sooner or later. Is that why they keep the maximums on roulette at $500 for most tables?

I'm not real sure the bolded part is valid.

 

[pontifex]

i'm not a gambling person, most i gamble is the lottery, but that sounds stupid to me.

 

[Codewiz]

It isn't 50-50.

Sorry, you lose.

 

[SpanishFry]

There is a name to this method. Named after some guy. It applies to sports betting, roulette, craps, etc.

No, this method might work for a while but soon you'll get busted in the ass pretty hard. The 0 and 00 are green and hurt your hards even further, lessening the 50%

 

[Eddieo]

Originally posted by: kmr1212
There is a name to this method. Named after some guy. It applies to sports betting, roulette, craps, etc.

No, this method might work for a while but soon you'll get busted in the ass pretty hard. The 0 and 00 are green and hurt your hards even further, lessening the 50%

This is true also the actual odds are not 50-50 when you use real money. You could be lucky or unlucky that day. So with the less than 50 percent odds to start plus it's whether it's black or red. If you are having a bad day, it will be much less than 50/50. Good luck!!

 

[etalns]

Originally posted by: kranky

Originally posted by: Qosis
Let's say you want to make a quick $50 every few days.

[smip]

Continually doubling your bet until you win back your money. Obviously with the odds being (nearly) 50/50 for black/red, you are bound to win sooner or later. Is that why they keep the maximums on roulette at $500 for most tables?

I'm not real sure the bolded part is valid.

The limits aside for a moment, if you continually double your bet and always bet on one color, eventually (statistically) you are bound to win... Or do you believe that, hypothetically, it is possible that one color will never be hit again even if you do an infinite amount of rolls?

 

[Toasthead]

ive seen runs of 14 straight losses. This only works if you can find a casino with no max bet and have an unlimited payroll. Neither of those exist.

 

[sciencewhiz]

Originally posted by: kmr1212
There is a name to this method. Named after some guy. It applies to sports betting, roulette, craps, etc.

It's called the martingale system.

It falls apart because of the table limit. If you had an infinite amount of money and no betting limit, you would never lose money. However, since there is a maximum number of consecutive losses you can stand before losing everything, you will lose everything if you play long enough. Most of the time you'll make a little bit of money. A few times you will lose everything. On average you will lose a little.

 

[Gunslinger08]

In the long run, you will lose money. You deny the slim chance that you never win, but also accept the chance that you win within a finite number of rounds as a given. Your method is flawed.

 

[sciencewhiz]

Originally posted by: Toasthead
ive seen runs of 14 straight losses. This only works if you can find a casino with no max bet and have an unlimited payroll. Neither of those exist.

With an initial bet of 50 and 14 losses, you'd need over $800,000 for the next bet.

 

[Eddieo]

Originally posted by: sciencewhiz

Originally posted by: Toasthead
ive seen runs of 14 straight losses. This only works if you can find a casino with no max bet and have an unlimited payroll. Neither of those exist.

With an initial bet of 50 and 14 losses, you'd need over $800,000 for the next bet.

Can somebody loan me $800,000?

 

[shoRunner]

sounds like a good enough idea to mortgage the house for...try it out and inform us of the results

 

[Jzero]

It's also boring as sh!t.

 

[PowerMacG5]

Originally posted by: Qosis

Originally posted by: kranky

Originally posted by: Qosis
Let's say you want to make a quick $50 every few days.

[smip]

Continually doubling your bet until you win back your money. Obviously with the odds being (nearly) 50/50 for black/red, you are bound to win sooner or later. Is that why they keep the maximums on roulette at $500 for most tables?

I'm not real sure the bolded part is valid.

The limits aside for a moment, if you continually double your bet and always bet on one color, eventually (statistically) you are bound to win... Or do you believe that, hypothetically, it is possible that one color will never be hit again even if you do an infinite amount of rolls?

Trust me on this, you lose. The odds of it hitting red or black is somewhere around 47% (dont remember the exact figure). The odds of hitting the next color, do not rely on the previous color hit, so you statement of being bound to win is wrong. Trust me on this, stringers, and 0/00 come back to bite you in the ass, and hard.

 

[dullard]

Originally posted by: sciencewhiz
With an initial bet of 50 and 14 losses, you'd need over $800,000 for the next bet.

I was going to post something like that. You can easilly go on a big losing streak. If you keep doubling up, the numbers become so massive that you have to quit - just after losing every cent you have.

That is the worst case scenerio. What is the best case scenerio? After betting $800,000 you finally win, break even, bet another $50 and win. You walk away with $50 in your pocket.

Risk $800,000+ for a possible $50 win. Great strategy. :roll:

 

[ManSnake]

Assuming no max bet limit, this is the dumbest strategy ever. You gamble to try to win money. Using the doubling strategy, the best you are hoping for is to even your money. It's a complete waste of time.

 

[Kev]

Originally posted by: Eddieo

Originally posted by: sciencewhiz

Originally posted by: Toasthead
ive seen runs of 14 straight losses. This only works if you can find a casino with no max bet and have an unlimited payroll. Neither of those exist.

With an initial bet of 50 and 14 losses, you'd need over $800,000 for the next bet.

Can somebody loan me $800,000?

Don't forget about the 800k + you woulda lost on the first 14 bets

 

[Schfifty Five]

Originally posted by: Qosis
Let's say you want to make a quick $50 every few days.

Wouldn't this work? I realize there is the potential to lose money 😉 but it seems to be quite small.

Play Roulette
Bet $50 on black or red
If you win - leave.
If you lose - bet $100 on black or red.
IF you win you are now even. Start back with $50.
If you lose - bet $200 on black or red.

Continually doubling your bet until you win back your money. Obviously with the odds being (nearly) 50/50 for black/red, you are bound to win sooner or later. Is that why they keep the maximums on roulette at $500 for most tables?

You have the right idea, but you're off a little on the bolded part.

Bet $50:

You lose, you are now -$50

You bet, $100 now and win, you are not even, but +$50 now.

Repeat.

I'm sure it's been noted, but basically you keep doubling up until you win and by doing that you win your original first bet. And yes, that's why they have limits on tables and you need large bank rolls to do this.