Thread: an unknown compoment of probaility?

1. i know a gambler who has tol me that most casinos wont let you bet double money than you lost in a continuos manner

but on the other hand they wont put any impediment at all in you betting to double the money you won

i think casinos really know better whats is going on than science promoted by those who want us dumb like petrol companies

so how could this casino rule be explained?

2.

3. Maybe there are being nice. If you keep doubling your bet while losing, you will go broke awfully fast.

4. I think the OP is referring to the Martingale approach.

http://wizardofodds.com/gambling/bettingsystems.html

This system is generally played with an even money game such as the red/black bet in roulette or the pass/don't pass bet in craps and is known as the Martingale. The idea is that by doubling your bet after a loss, you would always win enough to cover all past losses plus one unit.

For example if a player starts at \$1 and loses four bets in a row, winning on the fifth, he will have lost \$1+\$2+\$4+\$8 = \$15 on the four losing bets and won \$16 on the fifth bet. The losses were covered and he had a profit of \$1.

The problem is that it is easier than you think to lose several bets in a row and run out of betting money after you've doubled it all away.

5. everybody knows double or nothing

http://en.wikipedia.org/wiki/Double_or_nothing

martingale is like double or nothing except that is actually double or +1

6. you go to a casino and bet one euro at the highest card, you lose

you bet double or nothing, you win what do you end with? nothing

now you go to the rulette and bet one euro you lose

now you bet double so you bet two euro

you win this time

what do you end up with? thats right you end up with one euro, you lose the 1st -1, you win the second +2, total= +1

yeah thats right i love to confuse people

7. This doesn't follow with the gambling scenario where you'd actually get two back. Hence, the double or nothing. So the first bets on cards are based on that while the second set on Roulette contained a simple double bet. Would a casino do a double or nothing scenario? I doubt it. Since you did pretty much explain yourself, confusion shouldn't be an issue.

8. You are ignoring the Single or Double Zero, which only produces a win if you bet on that. Reds, Blacks, Odds, Evens, columns, etc will all lose on Zero. This edges the odds in favour of the casino.

9. in double or nothing you are betting on this secuence:

1,1,2,4,8,16...

in martingale:

1.2.4.8.16...

hence the extra euro of the martingale vs double or nothing

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