So I don’t gamble, and don’t ever indend to make it a habit.
But a friend told me to play roulette, and I would have a ~47% chance of doubling my money and , as long as I had enough money to keep doubling my stake, would have a ~95% break even if I kept going until I won and never played again.
So say I had $200k in the bank and always put my money on red
Spin 1 : $5K
Spin 2: $10K
Spin 3: $20K
Spin 4: $40k
Spin 5: $80K
Spin 6: $160k
In this scenario, I’d have a ~47% chance of winning $5k, and just a 2% chance of losing $160k?
EDIT: Although just working this out, I think I would probably put the 160k into a 4% savings account if I had it, or start off way smaller amounts e.g. $500 to reduce my chane of losing money significantly lol.
In: 8
Flip a coin 100 times and count how many times it lands heads/tails 6 or more times in a row. You will be very surprised at the results
It’s only a dumb idea to go to a casino and play with more money than you’re prepared to lose. If you’ve got a grand you want to throw away go have fun and good luck. If you can’t afford to lose the money don’t walk in the casino.
Flip a coin 100 times and count how many times it lands heads/tails 6 or more times in a row. You will be very surprised at the results
It’s only a dumb idea to go to a casino and play with more money than you’re prepared to lose. If you’ve got a grand you want to throw away go have fun and good luck. If you can’t afford to lose the money don’t walk in the casino.
Take an example. You’ve got $200k
Spin 1, you put $5k in with a 52.7% chance to lose. You lose. You now have $195k
Spin 2, you put $10k in with a 52.7% chance to lose. You lose. You now have $185k
Spin 3, you put $20k in with a 52.7% chance to lose. You lose. You now have $165k
Spin 4, you put $40k in with a 52.7% chance to lose. You lose. You now have $125k
Spin 5, you put $80k in with a 52.7% chance to lose. You lose. You now have $45k
What now? You’ve not got enough left to double your last bet and cover your loss. So you put the remaining $45k in with a 52.7% chance to lose. You lose. You have no money.
At each spin, you’re doubling the amount you’re risking on the same odds that are still against you. It’s just digging the same hole, but faster.
For every spin of the wheel (or any other game), you’re chances of losing are slightly higher than winning. That’s how casinos make money. So it’s possible you’ll lose all your money before you get a chance to even break even.
The luck isn’t winning – you will lose it all eventually the longer you gamble. The luck is winning early. Then you can stop playing. But then you can’t come back the next night either or you’ll be back on the slow trend toward losing it again.
Take an example. You’ve got $200k
Spin 1, you put $5k in with a 52.7% chance to lose. You lose. You now have $195k
Spin 2, you put $10k in with a 52.7% chance to lose. You lose. You now have $185k
Spin 3, you put $20k in with a 52.7% chance to lose. You lose. You now have $165k
Spin 4, you put $40k in with a 52.7% chance to lose. You lose. You now have $125k
Spin 5, you put $80k in with a 52.7% chance to lose. You lose. You now have $45k
What now? You’ve not got enough left to double your last bet and cover your loss. So you put the remaining $45k in with a 52.7% chance to lose. You lose. You have no money.
At each spin, you’re doubling the amount you’re risking on the same odds that are still against you. It’s just digging the same hole, but faster.
For every spin of the wheel (or any other game), you’re chances of losing are slightly higher than winning. That’s how casinos make money. So it’s possible you’ll lose all your money before you get a chance to even break even.
The luck isn’t winning – you will lose it all eventually the longer you gamble. The luck is winning early. Then you can stop playing. But then you can’t come back the next night either or you’ll be back on the slow trend toward losing it again.
Find me a good casino that will allow you to bet $160k on a spin? And don’t even think about online casinos like stake(dot)com. They all scams, I was doing that same strategy and within an hour lost all my money, I was always betting black and the fker landed on red 13x in a ROOOOOWWWWW!!!! Then I re couped my money and thought I’d get it back I mean wtf are the chances of it happening again?! So I was betting black again and winning some losing some, anyways at the end it went 12x red again! That’s like Fkin close to impossible within an hour of playing. Anyways, anything digital is a scam even though they claim they have “3rd party” testing and anti cheating and controlled by the government gambling bullshit, it’s all bullshit amigo! Don’t do it!
Find me a good casino that will allow you to bet $160k on a spin? And don’t even think about online casinos like stake(dot)com. They all scams, I was doing that same strategy and within an hour lost all my money, I was always betting black and the fker landed on red 13x in a ROOOOOWWWWW!!!! Then I re couped my money and thought I’d get it back I mean wtf are the chances of it happening again?! So I was betting black again and winning some losing some, anyways at the end it went 12x red again! That’s like Fkin close to impossible within an hour of playing. Anyways, anything digital is a scam even though they claim they have “3rd party” testing and anti cheating and controlled by the government gambling bullshit, it’s all bullshit amigo! Don’t do it!
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