Roulette. Hmmmmm

by **Gadders** » Wed Apr 08, 2009 2:08 am

Ok. Please tell me now if I'm being mugged off...

I've come across a 'technique' for online roulette wheels, it involves betting the min. amount on one colour, and every time you lose you double the amount you bet (keeping it still on the same colour). When that colour comes up, you win your losses and start all over again. So theoretically you should always stay even/make a slow profit.

If an online casino offers a cash payout on roulette, this could be quite useful?

I tried it out tonight on a "just for fun" setting and managed to get up (a virtual) 50 euros.

Phil.

by **Jasonscheltus** » Wed Apr 08, 2009 6:00 am

i used to work in a pub which had one of those pokie/slot machine in there. It had a computer which told you exactly the amount of money it would pay out compared to how much was put in. And you know what, it was almost the same every day: 30%

The old men used to come up and talk about the best way to beat the machine, or watch until someone had you know, primed the machine or something. But no matter how clever they were, the machine always took about 30% of their money.

Try it, but I don;t think it will work.

by **GreenBean** » Wed Apr 08, 2009 8:45 am

If only making money was so simple. I have never played roulette (online or otherwise) but I believe the wheel has a 0 and sometimes a 00 position and that these are not black or red. This makes the chance of your colour coming up on each spin of the wheel a little less than 50% so I do not see how you can slowly win by just doubling your initial bet.

The real problem however is that this is like a pyramid scheme and whilst the Pyramid scheme runs out of new investors you will eventually run out of money to risk. The chance of your colour coming up is the same each spin regardless of how many previous times it has been one colour so eventually, for instance, you will get 20 spins all on black when you are betting on red. If you bet £1 on the first spin you would need £1,048,576 to bet again. If you decide that is too much for you then you will loose the £524,288 that you have "invested" so far. :cry:

I would not recommend trying this at home. :wink:

by **Gadders** » Wed Apr 08, 2009 1:06 pm

Hmm yes, all very true. I might try it out on the "just for fun" setting more and see what happens.

The perils of being a student (aka absolutely skint).

by **Carl** » Wed Apr 08, 2009 2:42 pm

It's a classic martigale strategy. It's seductiveness is based on the falllacy that you could go on forever. However, you don't have infinite wealth to start with (otherwise why bother with online gambling?), so you loose. GB's point about the 0 and 00 would just make you loose faster!

by **petikas** » Wed Apr 08, 2009 3:36 pm

Don't they have limits on the maximum bet?

by **kingseven** » Wed Apr 08, 2009 3:42 pm

It is a very old technique in roulette, written about in Scarne's seminal book on cards, gambling and cheating.

Casino limits pretty much mean that you don't get to keep doubling up and at some point will likely lose a fortune when you hit the table max and lose.

It was exploited a little bit in the 50's by very high rollers when casinos used to (foolishly and greedily) agree to remove table limits.

(I used to be a croupier)

by **Gadders** » Thu Apr 09, 2009 12:33 am

Ah thats interesting Jim. Gave this some thought on poolside today - Its all very well but obviously you need a vast amount of money to start with to ensure if you get a bad run you can afford to keep doubling.

Alas i am not a statistical genius so I shall just have to carry on saving Chavs from drowning themselves whilst exploiting the student loans co. for all they're worth!

by **Goat** » Thu Apr 09, 2009 8:52 am

If you're skint and happy with online gambling have a look at matched betting.

It takes patience and a reasonable amout of statistical knowledge but not loads.

I can send you some links if you'd like.

by **Gadders** » Thu Apr 09, 2009 5:08 pm

I'm crap at stats =P I think i'll stick to the fluid dynamics, thanks though!

by **Goat** » Fri Apr 10, 2009 7:11 am

There's not that much stats involved; just enough to get the idea. Its a good way of making money, much more so than roulette as the outcome is guaranteed in your favour (I sound like a salesman :-(

)

Fluid dynamics brings back a few memories.... :-)

by **EspressoSquirrel** » Fri Apr 10, 2009 11:37 am

what kind of fluid dynamics are you doing gadders?

by **Gadders** » Sat Apr 11, 2009 6:32 pm

Haha ok goat, sweet pop a few links down and i'll have a gander

Erm well I'm first year aerospace eng. so (rifles through notes) recap of gas laws, laws of thermodynamics, fluid flow, turbines, compressors etc etc.

Roulette. Hmmmmm

Roulette. Hmmmmm

RE: Roulette. Hmmmmm

Who is online