Quote:
Originally Posted by pdurrant
Hamlet53 has the answer I was looking for. I confess I didn't know that there was a special European rule for zero on otherwise 50/50 bets, I merely meant to indicate that the wheel had only a zero, not a zero and double zero.
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This sounds marvellous. Surely a way to beat the casinos?
The problem is that when we win, we win £5. When we lose, we lose £155.
9643 * £5 = £48,215
357 * £155 = £55,335
In the long run, we lose.
Over to Hamlet53 for the next question!
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Yes as a way to earn £5 this is not good. In addition to the fact that if one attempts to employ such a strategy repeatedly one will lose money over the long term there is always the ~3.6% chance that one will just lose everything the first time. One could increase the odds of winning by starting with a larger stake and thus extending the number of times one can double down on previous bets, but the amount bet increases rapidly. For example to increase the odds of making that £5 to 99.9% one must start with at least £10,235 (prepare to make 11 bets, doubling each time, before winning that £5)..
In my opinion a better bet for obtaining that £5 is to go into the casino restroom and practice in front of a mirror a sympathetic pleas for £5 in order that you can afford that train ticket home (as an example). Then stand at the casino entrance an plead for £5 from everyone who enters or exits.
So I will have to think about a quiz question over the afternoon. If someone who has not had a chance at this in a long time, or never, feel free to jump in.