I know I'm not the first person here to say this or make this post, but help me understand something.
You go to a casino with $1000
You go to a table and you bet $100 on red every single time.
If you lose the bet, you double it, so the bet after the first loss is $200, bet after the 2nd loss is $300 etc.
Obviously red/black is 50/50 however, the does not eliminate the chance of there being 7+ wins out of 10, as overall within 100 bets it will balance at 50/50
So why isn't this a valid strategy to get some money? Surely its better than mindlessly gambling on stocks like some people here do, no?
Because eventually a loss is so gargantuan it wipes out your capital. It doesn't work unless you have the monopoly of note issue.
>>1381151
Go ahead and test your thesis.
>>1381151
http://vegasclick.com/gambling/martingale-betting-system
You know casinos have betting caps right?
>>1381155
but who's to say that a win so so gargantuan that once you've doubled your money you can happily call it a day?
>>1381151
>"We're sorry anon but you've lost over $5000 so we cannot continue to let you play at our casino, please make your way to the front desk to settle out."
>>1381151
>50/50
The zeroes mean it's not 50/50, professor.
The 3rd bet would surely be $400 no? Betting red or black is 48.5% not 50%, even with a 50/50 bet the martingale system is doomed to failure.
>>1381278
Some bitcoin gambling sites are 49.75%
There are also no casino managers.
>>1381161
>Martingale is a winning strategy if you only play the first hour
This has to be a troll right? What stops me from defining every hour as the first hour?
>>1381151
>Obviously red/black is 50/50
its not, 0 and 00 mean its 45/55 against you
>>1381229
the chance to double your money is still under 50%
>>1381223
/Thread
>why not gamble at a casino where the odds are against you rather than gamble in the market where the odds are with you (if you're not a dumbass)
Dumbass detected
>>1381151
>100 on black
>green
>200 on black
>red
>300 on red
>black
>400 on red
>black
>leave losing 900 dollars in 5 minutes
What are the ways to own a casino? Seems like a real moneymaker.
>>1381151
I was under the assumption that this strategy is frowned upon in a lot of casinos.
It's viable if you start low have the capital to back it up and quit at 1-2 wins.
>>1381643
invent a time machine, go back in time and accumulate hundreds of millions of dollars in illegal drug/booze money and other crimes with your criminal organization that you funnel into semi legal businesses by paying off politicians
or be native american and have white guilt bonus points
>>1381351
This. No matter what you do your odds of winning using martingale are always going to be a little shy of 50%. Even if you find a casino with no betting limits, you will always be behind in the long run. Lets say you have a million dollar bankroll and you are only trying to win $1 at a time. Lets also assume the odds are a flat 50/50 (for the purpose of simplifying the math).
>Your odds of winning a dollar are going to be 99.9999%. Your odds of losing the entire million are going to be .0001%.
>Your odds of winning 10 dollars is 99.999%. Your odds of losing the million is .001%.
>Your odds of winning 100 dollars is 99.99%. Your odds of losing the million is .01%.
>Your odds of winning $1000 is 99.9%. Your odds of losing the million is .1%
>Your odds of winning $10,000 is 99%. Your odds of losing the million is 1%
>Your odds of winning $100,000 is 90%. Your odds of losing a million is 10%
>Your odds of winning $1,000,000 is 50%. Your odds of losing a million is 50%
See how that works? The longer you play, the greater the odds are of you losing your entire bankroll. With a big enough bankroll you can win short term but not without enormous risks. If you have a million dollars would you really try to win a measly $10k if there is a 1% of you losing the whole million? Martingale is a bad strategy. It is a good way to lose a lot of money for the chance to win a little.
>>1381151
If you haven't heard about the 0, don't bother walking intor a casino.
>Obviously red/black is 50/50 however, the does not eliminate the chance of there being 7+ wins out of 10, as overall within 100 bets it will balance at 50/50
Should've posted this in the gambling general not here.
Also because you still loose in the long run. Is that really a question?
>>1381151
It's not 50/50, also the casinos make you leave if you tryhard.
>>1381322
>bitcoin gambling sites
lol yank
They all have minimum and maximum bets though.