Roulette Betting Pattern Question?

Question

I am wonder if a casino would let you do the following-

Say for the purpose of this question you have a $5,000,000 bankroll to work with.

(Whenever you win you stop, and are up $10,000)

You bet $10,000 on red.

If you lose, you are down $10,000, so then you bet $20,000 on red.

If you lose, you are down $30,000, so then you bet $40,000 on red.

and so on and so on until you win once.

Winning once will put you up $10,000.

Its a flawless system, unless you are the most unluckiest person there is and can lose a coin-flip so many times in a row.

So my question is, do casinos ban this type of betting? Is there anything preventing someone to just do this every single day of the year, and that 5millionair could be making $3.6 million a year with little effort...

Is there some sort of tax on a huge bet like $10,000 that would discourage this system of betting patterns?

For the record, I don't have $5,000,000 nor do I even play Roulette...but I may just start playing it if this is allowed.

Thanks

Answer 1

the only thing you missed

there are a fraction more ways to lose

0 and 00

test your system for free - here is a free download

ps - the house always wins!

Answer 2

After 5 losses what is the size of your bet?

It is supposed to be $320,000 but you only

have $190,000 left in kitty.

After 6 losses you will be broke.

You will make $10,000 per winning cyle.

You hope to make $3.6 million a year.

That works out at 360 cycles.

Mathematically, a cycle will average 2 spins.

That means you only need 720 spins.

At one spin per minute that will take 12 hours.

If you had backup banks of $5,000,000 so

as to restart your plan again and again,

expect to lose 5 such banks every 12 hours.

Answer 3

That's just a martingale system & technically if you had an unlimited bank you would win. Anyway unfortunatley most tables have limits (min & max bet). & online casinos definatley have limits. The chances are you either bought this system or found it online & they want you to sign-up for a casino as they are an affiliate. I wouldn't recommend this personally.

Do the math yourself. Say you had a limit of 10 losing cycles the odds of losing are 1/2 (minus house edge i,e 0 on european roulette & 0 & 00 on american). Taking it as 1/2 you do .Odds of losing cycle is 0.000488281

or 2048/1  of having a losing cycle.  Call it 2000/1 after house edge. Your loss for that one spin will be $10,240,000. You will win $10,000 2000 times which is $20,000,000 & so say you win $9,000,000 every 2000 spins you will in the long run if you had a table & bank to deal with it. Sorry if the math has gone wrong somewhere.

Answer 4

that is a very common way of betting in tournament blackjack, the only problem comes when you don't get lucky before your bankroll runs out, and with roulette you would have to get pretty lucky

Answer 5

This is known as a martingale betting system,  believ it or not, it actually WILL increase your odds of winning "an amount of positive money" for each session you play, however you will now also experience less common extremely large losing sessions.

The sum of all sessions will remain negetive and the house will prevail,  But if you goto a casino, and only intend on place say maybe 5 bets total and then goign home, its probibly not a bad idea as long as your comfortable losing the amount of money ou will be placing on the 5th bet.

Answer 6

I wish I had a nickel for every time somebody came up with this scheme (and thought they were the first ones to think of it)!

Casinos will not directly stop you from doubling your bet each time.  But they do have a minimum and maximum bet on each table. This effectively stops the progression before you can go too far.

For example, a table may have a $5 minimum and $300 maximum bet.

I don't know what the max bet would be if the min was $10,000 but it would be far less than $5 million.

It's also a very foolish system. You will be risking enormous amounts of money to win a small amount.

For a more detailed discussion, look up "Martingale betting system".

Answer 7

the odds of it happening is greater than you think

but this is why casinos have a minumum and maximum bet at most tables.  The max is usually 100 times the min

This quote from the wikipedia explains it pretty well

"Suppose that someone applies the martingale betting system at an American roulette table, with 0 and 00 values; on average, a bet on either red or black will win 18 times out of 38. If the player's initial bankroll is $150 and the betting unit is $10, he can afford 4 losing bets in a row (of $10, $20, $40, and $80) before he runs out of money. If any of these 4 bets wins he wins $10 and wins back any past losses. The chance of losing 4 bets in a row (and therefore losing the complete $150) is (20/38)4 = 7.67%. The remaining 92.3% of the time, the player will win $10. We will call this one round (playing until you have lost 4 times or until you win, whichever comes first). If you play repeated rounds with this strategy then your average earnings will be (0.923·$10) − (0.0767·$150) = −$2.275 per round. Therefore, you lose an average of $2.275 each round"

you cannot win with this system.  If there was no maximum bet, and you had an infinite amount of money, then theoretically it would work.  But since all casinos have a max bet and nobdoy has a true infinite amount of money, it is not