Civil Discussion About Religion

[724Skinsfan]

Originally Posted by Schneed10

Finally a post I don't have to repeat myself over.

First off, whether you're betting red, black, or a single number on the board, when you weight your payout against the odds of winning, the house will take 5 cents of every dollar you bet.

The doubling your bet concept is a simple one, and often does work. Bet $5 on red, if you win, pocket it and bet $5 again. If you lose, double your bet to $10. If you lose that, double your bet to $20, and so on. But at the same time, eventually you are going to hit a cold streak where you lose 8-10 bets in a row. You have to have really really deep pockets to get 8 losses in a row. The chances of losing by betting red or black for 8 times in a row is 0.25%. But if you're doubling your bet, you need to have pockets holding 5+10+20+40+80+160+320+640. That comes to $1275.

You keep doing this long enough, you're going to encounter one of those 0.25% of the times when you're going to lose $1275. Chances are, that's going to offset whatever you're walking away with by winning on the $5 rolls.

No matter how you cut it, the game eventually bites you. They don't call it a house advantage for nothin.

It's still not a terribly ineffective system as far as gambling goes. You're taking a chance of losing only 0.25% of the time. What are the odds of geting into a car wreck on your way home from work? (<---rhetorical)