You need to earn £10k in 3 months as a side gig, how would you do it?
- Thread starter UberTiger
- Start date
Roulette is a viable option. The is a good "guaranteed strategy" but does require quite a big bank balance. Can be slow to start and risky.
Some sites allow you to spin without betting. so you can force sequences of say 5+ reds in a row.
For example, hitting the same color for n times in a row on a single-zero roulette has the probability
For n = 3, this is 11.51%,
For n = 5 is 2.72%,
For n = 10 it goes down to 0.07%.
you've just blindly applied a formula you seemingly don't understand - you're using the binomial distribution for those calculations (with of course nCn = 1 and (1-p)^0 = 1, leaving you with p^n)
note a rather important assumption of the binomial distribution - you should have been taught that there is an assumption that the variables are iid, i.e. they're independent and identically distributed
so you've calculated the above under the assumption that the n spins you observe are all independent of each other... but then after those n spins you've decided that situation changes and they're suddenly not independent? Why does that happen after 3 spins or 5 spins etc..? What has changed?
bet limits on an individual table make little difference, you could carry on with your "strategy" at a higher limit table and continue chasing your losses playing a -EV game... fact is it is still a -EV game... you'll go bust
Dependent and independent variables is one of the first things you learn about probability, think it's before even GCSE level. If people can't grasp those, any gambling "strategy" they peddle is worth jack.
Amazing how many people still fall for it though. Vegas would still be just a watering hole if people understood probability...
Amazing how many people still fall for it though. Vegas would still be just a watering hole if people understood probability...
Roulette is a viable option. The is a good "guaranteed strategy" but does require quite a big bank balance. Can be slow to start and risky.
Some sites allow you to spin without betting. so you can force sequences of say 5+ reds in a row.
For example, hitting the same color for n times in a row on a single-zero roulette has the probability
For n = 3, this is 11.51%,
For n = 5 is 2.72%,
For n = 10 it goes down to 0.07%.
So if you Start with a Bet of £1 on a 5 Sequence. If it Wins = £1 Profit. If it loses you double your bet to £2, again if it loses double again to £4 and so on. Once you hit a win your profit will be equal to your starting bet.
I done this on small scale and made £60 in a few days, then got greedy had a few unlucky spells of 10+ coloured runs followed by a "Zero" Green. So set yourself a limit of say doubling you bet 5 times. If no win start again.
But remember some tables have bet limits so do it wisely and it can take a lot time to get sequences to bet on.
a £1 starting bet can easily become very large if you hit a run of 10+ sequence
1-2-4-8-16-32-64-128-256-512
I can't even begin to fathom why things like this even exist.
"The is a good "guaranteed strategy"" - no, NO, it really isn't.
"so you can force sequences of say 5+ reds in a row." - eh? I don't even...
"I done this on small scale and made £60 in a few days" - you got lucky. How much did you later lose when...
"then got greedy" - ie. you went outside the ALREADY FLAWED martingale system?
"So set yourself a limit of say doubling you bet 5 times. If no win start again." - ie. go outside the ALREADY FLAWED martingale system? The whole point of doubling-down is that if you lose after 5, but win on 6 you RECOUP your losses. if you start again, YOU DO NOT RECOUP YOUR LOSSES, even though you are playing the (not quite) 50/50 odds.
"But remember some tables have bet limits" - MOST if not ALL table have bet limits, which means that even a statistically probable losing streak means that you hit the limit therefore making it extremely statistically unlikely that you will make any profit. It's statistically unlikely that you'll even break even (depending on the limit, and most places have fairly low limits).
"a £1 starting bet can easily become very large if you hit a run of 10+ sequence", yes it can - if you lose 10 times in a row...
