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the bigger reason it fails is because there is a max bet, if there was no max bet and you had an infinite bankroll it would work in theory.

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No it wouldn't.

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Yes it would. If you had an infinite bankroll. And if there were no max bet. It is impossible to lose infinity times in a row.

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Yes.. it's impossible to lose infinite times in a row, but if you lose infinite times in a row, you lose infinite dollars. While this seems like a moot point, it's very significant and means that you can't ignore the possibility.