Sucker born every minute!

[BillYards]

Well, if you continually double your bet, assuming you have some chance of winning (and assuming your opponent allows you to keep going), you will eventually win back your original bet.

B*2^n - sum(from i=0 to n-1)[B*2^i] = B

(eg -2 -4 -8 -16 -32 -64 -128 +256 = 2)

The decision becomes an evaluation of the odds of running out of money before winning. If Player B's odds of winning are about 1 in 10, he has a slightly better than 50% chance of winning within 7 or less games.

I imagine this is a primary reason for maximum bets at casinos. I bet there is a correlation between the difference between the minimum bet, the maximum bet, and the game's odds.

This is exactly the system I use on roulette... You can walk away a winner every time... Betting red/black or even/odd.

 

[Harvywallbanger]

This is exactly the system I use on roulette... You can walk away a winner every time... Betting red/black or even/odd.

unless you loose about 5 in a row. Then your past the max and can't double it and end up loosing your ass. A good method but it can be very dangerous if you get unlucky.

 

[breakup]

A guy told me his system for roulette once and after thinking about it for a while I had to agree it was the best system I ever heard. His system was:

Stand and watch until either black or red comes up three times in a row , then bet on the other color.

It doesn’t help your odds of winning but you don’t bet nearly as often.

 

[Eric.]

A guy told me his system for roulette once and after thinking about it for a while I had to agree it was the best system I ever heard. His system was:

Stand and watch until either black or red comes up three times in a row , then bet on the other color.

It doesn’t help your odds of winning but you don’t bet nearly as often.

The best way to double your money is to fold it in half and put it back in your pocket


Eric >guaranteed to leave with something

 

[fred_in_hoboken]

unless you loose about 5 in a row. Then your past the max and can't double it and end up loosing your ass. A good method but it can be very dangerous if you get unlucky.

That's the problem- in reality, the risk/reward is completely out of wack

in my example- Player B is essentially bet 255 to 1 on a 50/50 outcome. Unless you have an effectively limitless reserve of cash, and an infitely patient and foolishly greedy opponent, you're engaging in a sucker bet.

 

[BillPorter]

This is exactly the system I use on roulette... You can walk away a winner every time... Betting red/black or even/odd.

I'm thinking that the casinos must love to see you coming!

 

[Runtboy]

This is exactly the system I use on roulette... You can walk away a winner every time... Betting red/black or even/odd.

If you're lucky enough to find a wheel without the green 0 and 00, maybe you are lucky enough to win with this strategy.

 

[Icon of Sin]

If I was player B i would have thrown the first three games and then made my money back and then some on the 4th and 5th.

 

[jay helfert]

This is exactly the system I use on roulette... You can walk away a winner every time... Betting red/black or even/odd.

This is a great system....until you go broke!

 

[BillPorter]

This is a great system....until you go broke!

Jay, this "system" has been around forever. It's even got a name - The Martingale System. It took only a few minutes Google searching to find a nice little discussion of this system and an explanation of why, just as you point out, you will eventually go broke playing it. I don't think you need to check this site, but if anyone really thinks they can beat the casinos with this approach, PLEASE READ the information at this link as it might save you a lot of $$$: http://casinogambling.about.com/od/moneymanagement/a/martingale.htm

 

[alstl]

Well, if you continually double your bet, assuming you have some chance of winning (and assuming your opponent allows you to keep going), you will eventually win back your original bet.

B*2^n - sum(from i=0 to n-1)[B*2^i] = B

(eg -2 -4 -8 -16 -32 -64 -128 +256 = 2)

The decision becomes an evaluation of the odds of running out of money before winning. If Player B's odds of winning are about 1 in 10, he has a slightly better than 50% chance of winning within 7 or less games.

I imagine this is a primary reason for maximum bets at casinos. I bet there is a correlation between the difference between the minimum bet, the maximum bet, and the game's odds.

I'm thinking back to OHB's rules for hustling: Before you start playing you establish that anybody can quit at any time. So the kind hearted hustler allows you to double your bet so you can get even until he figures he has enough of your money, then it's "Say goodnight Gracie."

And you are right, the table limit at the casino means you will eventually lose using that strategy.