spamnon wrote:anyone here play roulette? if so, does anyone have any good betting strategies? I overheard something at work where you play the 50/50 bets (i.e. red/black or odd/even) and you keep doubling your bet everytime you lose and when you win you go back to your original wager. Ever heard of this? Any luck with it?
Yes...it's called negative progression...and it can be very dangerous. However, it can be effective if you set yourself a goal (and it can't be an outrageous goal). Also, it can be used in any house game (if you know the percentage tables in BJ, it's acutally better to use there).
Like someone else noted, the key is to know when to stop. Another key is this...don't gamble with money you can't afford to lose (probably the cardinal rule of gambling).
Example: If you had a $320 bank role, I'd say that you could use the negative progression strategy to make $50 using $5 as the inintial bet. That would mean you need to lose 6 times in a row to lose all your money. Then you would need to win 10 times overall before losing 6 times in a row to make your $50.
However, given enough time the house will take your money...so if you went to the Casino every day and tried to make $50 using this method, you would lose money in the long run...because even with this method, the odds are in the houses favor...there's no way to get around it...even though the odds of you making your $50 before losing 6 times in a row is a little more than 80%, in the long run it's a bad bet...i don't feel like calculating the probabilities...but it is...I promise...