4 ms·

Only if you double your bet every time you lose. Otherwise it's called a dollar cost averaging.

• User23 4y ago
  The simplest reasonable betting strategy is to bet some fixed percentage of your available stake, which means bet bigger when you win and smaller when you lose. The Kelly criterion might help you compute the optimal amount to bet, but you can do ok just picking an arbitrary small percentage, like 1%. This is a nice strategy if you like casino gambling and focusing on the atmosphere and experience and not going full bore on advantage play. Say you have a $20,000 marker limit. Your starting bet on a game with a reasonable house edge like a player friendly blackjack table should be $200 a hand. Then as you win or lose your bet will grow or shrink respectively. While it's possible with extraordinarily bad luck to blow through your entire bankroll, odds are very good that you'll come home with at least a decent chunk of your stake if you can play basic strategy. Even though with basic strategy on a good table the house has around a half a point of edge, last I knew comps were computed using a 2 point model. So if you value the RFB experience even a basic strategy player can come out "ahead." Of course you should never gamble money you can't afford to lose. It's always possible you will have catastrophically bad luck. Pretty much the same applies to any gambling, including options trading. The main difference there is you probably want a considerably larger stake that you're willing to lose than twenty grand and you need considerably more discipline than you do at a table game. That and of course you want to avoid bets where the potential downside is more than your stake, which isn't a problem that you face at a casino.