If you bet $100, your odds of winning are around 50% and if you lose, bet $200, and so on and so forth until you win, and then cash out with a guaranteed profit. Assuming odds of black are 47.37% as per American roulette, your odds of not winning a single one after 6 tries are 0.02125 (I think) and decrease exponentially after each subsequent try.
In: 93
If the odds of black are 47.37 why wouldn’t you bet red?
I don’t know anything about casinos but I have heard before red is more likely to win, as heads is more likely than tails on a quarter flip.
Because your resources are limited (or because the casino has a limit on bet sizes), with that strategy you will have a large chance of a small gain–BUT also a small chance of a large loss.
Betting limits. There are very few casinos willing to let you bet $100^27 on a roulette spin
Tables also have limits generally, so unless you can find a no limit high rollers table you are going to get capped at a certain point.
The existence of 00 in American roulette gives the house an edge. It is neither red nor black, and the house gets the money.
If you spin the wheel enough, eventually everyone betting loses their bet.
No one seems to have mentioned that the odds are not 50/50? there are 1 sometimes 2 “0”. “00” on the wheel, giving the house the edge
Ahhhh, the old Martingale system, people’s first step in to thinking they’re a clever gambler
Casino Pit Boss Here,
This style of betting is called a martingale system and this is why we have limits on tables. You are correct in that if you keep doubling your bet you will eventually win but you will hit the table limit quicker than you think. We have $100 min bet tables with $50k max available to the general public. You would hit the table max after your 9th bet.
100-200-400-800-1600-3200-6400-12800-25600-50000
You end up risking more and more with each hand but you will only ever make what you started with as profit when you win (in this case $100).
You need a hefty bankroll to play like this and if you are unlucky enough to hit the max without winning, you would then need to play like this more than 500 times (and be successful) to recoup your losses.
I have seen many people try this but you will always lose in the long run. Even if you manage to get yourself a higher limit, say $500k, that only gets you like 3 or 4 more hands if doubling up.
Not a good idea.
Bruh. Story time:
My first time ever gambling was at some fancy casino in Frankfurt, Germany. I always found gambling to be a total waste of money, so I left my wallet at the hotel and went in with 50 euro only. After a few hours of just drinking and dicking around with 5 euro red vs black bets on video roulette, I got up to 800 euros, which was almost equal to my plane tickets back to the US!
Then I got cocky. And I came up with the exact strategy you’re talking about. My bet on black lost? Fine. Double down 10 euros on black. That lost? 20 on black! My drunk ass kept going, thinking there’s sure my no way that red can just keep on hitting, right?!
WHAT ARE THE ODDS THAT RED HITS ELEVEN TIMES IN A ROW. SERIOUSLY. To this day, I am completely baffled by it.
But yeah. I ran out of money before I could ever catch up. It’s one of my husband’s favorite stories to tell because his jaw was on the ground right there with me. 😂
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