I don’t gamble all that much. I used to spend a couple of dollars a week playing the lottery with my co-workers. We would spend a total of about $20 per week and win about $12 every 5-6 weeks. It really was not the smartest deal in the world, especially when your odds are something like 28 million to 1. You could probably get hit by a mack truck 3 times before you actually won the lottery.

I recently stumbled onto a strategy that I think is rather intriguing. It is a strategy that some use to win in the game of roulette. It is definatly not fool-proof, but if you learn how to quit while you are ahead, you could actually walk away with some extra cash. Read further as I lay it out for you right here.

The strategy is based on a 50/50 chance of winning and it is really simple to put into motion. The strategy relies on the idea that if you bet on red, eventually the ball will land on red. What do I mean? Well, let’s conduct a little experiment. 

Take a coin, any coin. That quarter in your pocket is fine. You have a 50/50 chance of the coin landing on heads if you flip it in the air. So let’s make a bet of $1 that it will land on heads (you win $1 if it land on heads). Now, let’s say that you flip it and it lands on tails. This strategy says to double your bet every time you loose. So we will now bet $2 on heads (You should stick with the same choice every time, in our case, heads). You flip the coin and it lands on tails again. Lets bet $4 on heads (doubling the $2 we bet last time). This time we win. This means you won the $3 you spent on the first 2 bets and you gained $1 in profit. Now that you won, Bet $1 again on heads and start the process all over again.

This strategy is not flawless. Lets say you lost to tails 10 times, You bet:
$1
$2
$4
$8
$16
$32
$64
$128
$256
$512 would be your last bet plus all the bets added up before this one. That means you would have to bet $1,023 total before you won it all back plus your $1 profit. If you had less that that $1,023 in your pocket at the time, you would have lost everything. Not only this, the odds that you will win is always 50/50, no matter how many times you play. That is why they call it gambling.

Now, you could play this same strategy more agressively, if you have the extra money to gamble away. Bet your $1. When you loose, bet $5 instead of $2. If you win, that means you make $4 profit instead of $1. What if you bet 5 times before you win:
$1
$5
$20
$50
$100. If you win at this point you make a $24 profit. The only problem is that the doubling gets high quickly:
$200
$400
$800
$1,600
$3,200 by your 10th bet. That can get really expensive, and the person you are betting against probably won’t take that bet.

Gambling is gambling, no matter how you look at it. Sooner or later you are going to loose it all, So stop why you are ahead. If you want to try this strategy with your e-gold money, visit this game. Again, don’t gamble anything that you can’t afford to lose.

This entry was posted on Saturday, May 5th, 2007 at 5:08 am and is filed under Gamble (Blow $$$$). You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.