ssc456
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Hello All,
Just want to spark off a discussion about the Martingale betting system.
For those who do not know what this is i will briefly explain.
You begin betting on something that will double your money if you win, lets pretend were talking about a coin toss here.
You bet a "friend" £1 that a coin flipped will land on heads.
If it does you get £2, your £1 in the green.
If it doesnt you proceed to the next stage.
You bet your friend £2 that the coin flipped will land on heads
If it does you get £4, your £1 in the grenn (£2 on this an £1 spent in the last round)
you repeat this over and over and continue to double your bet until you win and when you win you start from the beginning. Now providing you have an unlimited amount of money odds says that eventually the coin will land on heads and you will earn you £1 back.
That is the explanation of the theory but heres the discussion i want. . . .
I have been using this on an online better casino, (Sky Vegas) now i'm not stupid, i'm not throwing my life savings at this! But i registered and you get £5 free, so with that £5 i started on bets of 5p and ive been going up and up using this system and in a matter of an hour ive gone from the free £5 that they give you to having myself £14
I have no intention to invest my own money in this because i approach gambling with the attitude of only bet what you can afford to lose. This £5 was free so of course i can afford to lose it.
Now my betting system with 5p increments of 5p doubling has worked well and the highest bet i have had to put on was £1.60
5p
10p
20p
40p
80
£1.60
that was 6 x that i bet on "black" and it came out red.
The pessimists behind this theory say that you should stay well clear of it as no matter how many times the wheel has spun red you will still have a 50/50 (or 47%) chance of the next spin being a black or a red. . . . . . . Isn't this much like saying when playing the lottery with 49 numbers your chances of matching your 6 numbers to the 6 drawn are 1 in 49? despite the fact that once you have matched 1 your chances of matching thew 2nd and then the 3rd are greatly decreased?
Discuss. . . . . .
Just want to spark off a discussion about the Martingale betting system.
For those who do not know what this is i will briefly explain.
You begin betting on something that will double your money if you win, lets pretend were talking about a coin toss here.
You bet a "friend" £1 that a coin flipped will land on heads.
If it does you get £2, your £1 in the green.
If it doesnt you proceed to the next stage.
You bet your friend £2 that the coin flipped will land on heads
If it does you get £4, your £1 in the grenn (£2 on this an £1 spent in the last round)
you repeat this over and over and continue to double your bet until you win and when you win you start from the beginning. Now providing you have an unlimited amount of money odds says that eventually the coin will land on heads and you will earn you £1 back.
That is the explanation of the theory but heres the discussion i want. . . .
I have been using this on an online better casino, (Sky Vegas) now i'm not stupid, i'm not throwing my life savings at this! But i registered and you get £5 free, so with that £5 i started on bets of 5p and ive been going up and up using this system and in a matter of an hour ive gone from the free £5 that they give you to having myself £14
I have no intention to invest my own money in this because i approach gambling with the attitude of only bet what you can afford to lose. This £5 was free so of course i can afford to lose it.
Now my betting system with 5p increments of 5p doubling has worked well and the highest bet i have had to put on was £1.60
5p
10p
20p
40p
80
£1.60
that was 6 x that i bet on "black" and it came out red.
The pessimists behind this theory say that you should stay well clear of it as no matter how many times the wheel has spun red you will still have a 50/50 (or 47%) chance of the next spin being a black or a red. . . . . . . Isn't this much like saying when playing the lottery with 49 numbers your chances of matching your 6 numbers to the 6 drawn are 1 in 49? despite the fact that once you have matched 1 your chances of matching thew 2nd and then the 3rd are greatly decreased?
Discuss. . . . . .