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
Every time you win, only play with the winnings then forward. At worst, you’re back at square 1 with your money. At best, you’re richer.
Every time you win, only play with the winnings then forward. At worst, you’re back at square 1 with your money. At best, you’re richer.
Let’s get it simple:
You will eventually encounter 6 bad spins in a row. And it will happen (statistically) before you make $160k in 5k winnings.
You could argue, that the solution is to bring more cash, which would lessen the chance of losing. but when you eventually will, you will lose two times more money
Let’s get it simple:
You will eventually encounter 6 bad spins in a row. And it will happen (statistically) before you make $160k in 5k winnings.
You could argue, that the solution is to bring more cash, which would lessen the chance of losing. but when you eventually will, you will lose two times more money
The casino built a big fancy building with other people’s money. The odds don’t look good for you.
The casino built a big fancy building with other people’s money. The odds don’t look good for you.
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