4 ms·

1. Bet $10000 on black at the casino. If you win, well done. If you lose continue. 2. Bet $20000 on black at the casino, if you win, well done. If you lose, yo

• amingilani 9y ago
  Doubling down, also called a martingale strategy. This was awesome while it lasted. I used this while playing with dogecoin, the trouble started when I automated it using a script. Trouble is, even when the chance of losing is 0.25%, you'll lost once every 400 games. And at one point, the loss will be greater than all the money you had.. and there's no coming back from that.
  • csomar 9y ago
    He said 75% chance, so odds are against you.
    • amingilani 9y ago
      Actually, he meant a 75% chance of winning.. Given the chance of winning a round is p=0.5, the chance of losing is q = 1 - p = 0.5 If you've lost the first round, the odds of you twice in a row are q = 0.5^(2 rounds) = 0.25 Which means the odds of you winning are p = 1 - q = 1 - 0.25 = 0.75.
      • 0x8BADF00D 9y ago
        Right, but the expected value of the gamble is negative.
        • dfinch 9y ago
          Expected value is 0, right? .75 * 10000 - .25 * 30000
• amingilani 9y ago
  Doubling down, also called a martingale strategy. This was awesome while it lasted. I used this while playing with dogecoin, the trouble started when I automated it using a script. Trouble is, even when the chance of losing is 0.25%, you'll lost once every 400 games. And at one point, the loss will be greater than all the money you had.. and there's no coming back from that.
• stadeschuldt 9y ago
  This won't work: https://blog.tafkas.net/2009/06/09/a-not-so-safe-betting-strategy-for-winning-at-roulette/ https://blog.tafkas.net/2009/06/09/a-not-so-safe-betting-str...