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Roulette

Postby womble chris on Sun Sep 05, 2004 10:11 am

having played on a table with a couple of guys who also played roulette and doubled their bet till they won, i gave this a go. id thought about it before and always been a bit suspicous.
i put in 60 dollars, all was going well, betting 1 dollar, then 2, then 4 etc until i won. i went up 20 dollars in the first 20 minutes, all seeming fine, till i hit a run of 7 reds, and then 4 blacks, which basically lost me all my money.

what do people think about this way of making money?
next time im going to keep on switching between red and black rather than sticking to one till i win, as it seemed very rare to go red, black, red, black etc, althought i didnt expect 7 reds to come out after only 20 minutes.


although one of those two guys on the table said he was up 2000 dollars, then lost it all when 16 reds came out in a row....what a bummer!

plus i found it pretty dull as well

anyways, thoughts appreciated, cheers
womble chris
 
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yawn

Postby womble chris on Sun Sep 05, 2004 6:59 pm

roulette sucks, managed to pick up 16 dollars but was chronically boring just clicking on the spin button, think ill stick to poker....


does anyone know if there any way at st andrews i can play a downloaded website (total poker for instance)?

im getting a laptop before i go up if thats any help, but im finding total poker pretty good to play, like the graphics and the players are still pretty crap, although still think there are too many action cards for my liking - top pairing the flop is a killer....

chris
womble chris
 
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blackjack

Postby Guest on Mon Sep 06, 2004 9:39 am

Maybe try this one with blackjack as well, see how you do. I think it is better than just following instinct, although it would be more fun in a casino, rather than on t'internet.
Guest
 

Re:

Postby ezra on Tue Jan 31, 2006 10:45 am

the expected payout - over an infinite series of bets - is equal (i *think*) to your original bet

the trouble is that the casino can sustain the betting sequence significantly longer than you. the method you describe, known as the 'monte carlo method' can well bankrupt you before it pays out.
ezra
 
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Re:

Postby Rilla on Thu Feb 02, 2006 2:14 pm

hmm, being a stats nerd, i can tell you that this is a martingale method of betting.

A gambler has a large forgune. he wages £1 on an evens bet. if he loses, then he wages £2 on the next play. if he loses on the nth play, he wasges £2^(n-1) on the next. each sum is calculated so that his inevitable ultimate win will cover his lost stakes and profit him £1, this sttrategy is called a martingale. the gambler is almost surely guarenteed a win in the long run. the gambler must be prepared to lose alot of money as he goes along. however, most casinos, if they find someone using this method, will not allow it.


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