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July 6th, 2009, 06:14 AM
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| |  Would this work in vegas?
Is it possible to make money gambling by using this method? I am gambling in vegas on a wheel with 54 numbers. 24 of those numbers are the number 1. The other 30 are numbers are numbers other than 1. I bet $1 every time that the wheel will land on the number 1. If it does not, I double the bet to $2. If it still does not land on 1, I double the bet again to $4 and so on. Won't the probability be that it will land on the 1 sooner or later? In which case I would profit $1. Even if after nine consecutive spins it has not landed on the 1, I would only need to bet $512 to keep pace. What is the probability that it would land on a number other than 1 ten consecutive times? |
July 6th, 2009, 07:54 AM
|  | Grand Panjandrum | | Join Date: Nov 2005 Location: South of England
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Quote:
Originally Posted by terpfan41  Is it possible to make money gambling by using this method? I am gambling in vegas on a wheel with 54 numbers. 24 of those numbers are the number 1. The other 30 are numbers are numbers other than 1. I bet $1 every time that the wheel will land on the number 1. If it does not, I double the bet to $2. If it still does not land on 1, I double the bet again to $4 and so on. Won't the probability be that it will land on the 1 sooner or later? In which case I would profit $1. Even if after nine consecutive spins it has not landed on the 1, I would only need to bet $512 to keep pace. What is the probability that it would land on a number other than 1 ten consecutive times? | No, you will generally run out of money long before the house, and if you factor that in you will find your expected return is negative. If this would work so would betting on any of the "evens" bets on roulete.
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July 6th, 2009, 07:55 AM
| | Grand Panjandrum | | Join Date: Nov 2005 Location: South of England
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Quote:
Originally Posted by terpfan41 What is the probability that it would land on a number other than 1 ten consecutive times? | If you cannot tell us the answer to that yourself then you have no business talking about gambling systems.
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