Continuing to Double Bet until you win...
 

My friend was trying to tell me about a way gamblers can win no matter what they're betting on. Say you make a $100 wager, if you win you quit ($100 profit) or make another $100 wager. If you lose, then your next wager you make $200, if you win that then you start over at $100 ($100 profit). If you lose the $200 bet then you make a $400 bet, if you win you go back to $100 ($100 profit)....

Anybody have any thoughts on this for blackjack, sports betting, etc? Am I missing something other than the fact you'd need a huge bankroll to actually make this work?

Re: Continuing to Double Bet until you win...
 

See the thread right here in this same forum for this method as it relates to roulette: Martingale

Re: Continuing to Double Bet until you win...
 

That link is bad the correct one is here. Martingale Story

Re: Continuing to Double Bet until you win...
 

Your friend is a genuis!

I can't believe that no one else in the history of humanity has ever thought of this sure-fire money making method!

Re: Continuing to Double Bet until you win...
 

[ QUOTE ]
Your friend is a genuis!

I can't believe that no one else in the history of humanity has ever thought of this sure-fire money making method!

[/ QUOTE ]

I can't believe OP has over 1200 posts in a year and a half here and hasn't stumbled across the 'Martingale' concept yet.

Re: Continuing to Double Bet until you win...
 

negative EV is alway negative EV..end of story.

Re: Continuing to Double Bet until you win...
 

It would be great if
1) you had enough money to do so
2) there wasn't a table limit

Re: Continuing to Double Bet until you win...
 

[ QUOTE ]

I can't believe OP has over 1200 posts in a year and a half here and hasn't stumbled across the 'Martingale' concept yet.

[/ QUOTE ]

Re: Continuing to Double Bet until you win...
 

He's actually a pretty knowledgeable tournament poker poster (much more than me). Martingale isn't really relevant for poker.

Re: Continuing to Double Bet until you win...
 

[ QUOTE ]
He's actually a pretty knowledgeable tournament poker poster (much more than me). Martingale isn't really relevant for poker.

[/ QUOTE ]

Now that'd be something to try. Play one hand of 2/4 if you lose go play one hand of 4/8 etc...

Re: Continuing to Double Bet until you win...
 

[ QUOTE ]
Now that'd be something to try. Play one hand of 2/4 if you lose go play one hand of 4/8 etc...

[/ QUOTE ]
Please post your results.
[img]/images/graemlins/wink.gif[/img]

Re: Continuing to Double Bet until you win...
 

if there was no max table limit wouldnt this strategy work?

Re: Continuing to Double Bet until you win...
 

[ QUOTE ]
if there was no max table limit wouldnt this strategy work?

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Technically the answer is....yes and no. Assuming you had an infinite bankroll, and no table limit, then yes you'd think you have to win eventually. However it's still possible however unlikely that you'll run into an infinite string of losing hands.

The real math guys can probably explain better then I can (I get confused when I deal with infinity). But I think it's enough to know that in real world conditions the system cannot produce a long term profit.

Re: Continuing to Double Bet until you win...
 

It could but it will never happen because there is always a limit to the bets. So you might be thinking what if a "Whale" decides to play a game where he/she can bet up to $100k per bet yet the minimum is $5 even though it would be unlikely the "whale" would bet it. Lets just say this whale decides to do this and doubles the bet if he/she loses etc. etc. When the whale loses 15 times in a row he/she won't be able to double up anymore. Not to mention the casino would know what is going on. Now playing a casino game that is 49.50/50.50 BJ for example it would take about 35k hands to run into a 15 hand losing streak. Of course this will happen sooner or later but that is why the limits are set so you can't double up more than 6 or 7 times which will happen a lot more.

Re: Continuing to Double Bet until you win...
 

That really is the bottom line. There is no system in the world that can change a set -EV into a +EV without cheating. That is why there is are no professional roulette, craps, bacarat players anywhere in the world...unless they cheat.

Re: Continuing to Double Bet until you win...
 

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When the whale loses 15 times in a row he/she won't be able to double up anymore. Not to mention the casino would know what is going on.

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LOL. They'll send your airfare.

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... the limits are set so you can't double up more than 6 or 7 times

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You could get a lot better than that (if you wanted to). Just change tables. Pretty easy to get $2 to $50k spread. They'll still send your airfare.

Re: Continuing to Double Bet until you win...
 

[ QUOTE ]
[ QUOTE ]
if there was no max table limit wouldnt this strategy work?

[/ QUOTE ]

Technically the answer is....yes and no. Assuming you had an infinite bankroll, and no table limit, then yes you'd think you have to win eventually. However it's still possible however unlikely that you'll run into an infinite string of losing hands.

The real math guys can probably explain better then I can (I get confused when I deal with infinity). But I think it's enough to know that in real world conditions the system cannot produce a long term profit.

[/ QUOTE ]

this is correct

Re: Continuing to Double Bet until you win...
 

It's a bad strategy... I still remember hitting up a sticky bonus at an online casino... my target was $1200 and I had $1197. So I decided to martingale the last $3 at pai gow (yeah, I know I would''ve needed another small win to get completely even)

$3 - lose
$6 - lose
$12 - lose
$25 - lose
$50 - lose
$100 - lose
$200 - lose
$400 - lose
$400 - lose

oops.

Re: Continuing to Double Bet until you win...
 

[ QUOTE ]
it's still possible however unlikely that you'll run into an infinite string of losing hands.

[/ QUOTE ]

Wouldn't you need an infinite amount of time to hit an infinite losing streak? Given that an infinite amount of time is clearly a ludicrous premise, we have to conlude that the system works [img]/images/graemlins/wink.gif[/img]

Re: Continuing to Double Bet until you win...
 

"If you can assume an infinite bankroll, I can assume infinite losses" --- some 2+2er

Re: Continuing to Double Bet until you win...
 

[ QUOTE ]
[ QUOTE ]
it's still possible however unlikely that you'll run into an infinite string of losing hands.

[/ QUOTE ]

Wouldn't you need an infinite amount of time to hit an infinite losing streak? Given that an infinite amount of time is clearly a ludicrous premise, we have to conlude that the system works [img]/images/graemlins/wink.gif[/img]

[/ QUOTE ]

Well that's why I said things get confusing when you start talking infinities. I mean why the hell are you gambling with an infinite bankroll? A win won't increase it and a loss won't decrease it.

I just stick to the fact that given real world condition the system fails. Who cares if it works in fairyland?

Re: Continuing to Double Bet until you win...
 

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However it's still possible however unlikely that you'll run into an infinite string of losing hands.

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This is wrong. The possibility is zero.