What is the biggest "50-50" streak you've ever seen w/ cards/coins/etc??

Question

What is the biggest streak you've seen? I have seen a coin go 13 heads in a row. And i have lost like 20/21 "50-50" roulette bets. Do you have any crazy streak stories on games that are supposed to be 50-50?

Answer 1

Well 13 is a lot, that's quite the anomally actually.  The roulette bet though is only a 47% chance, so that one's going to be higher.  

The craziest one I saw was a betting team who was employing a martingale strategy on a 50:50 shot.  A martingale in case you don't know is where if you want to win $5, you bet $5, if you win, you're done.  If you lose, you bet $10, if you win you're done.  You lose, bet $20, etc.  You just keep going till you finally win $5 than the sum of all your previous wagers.  This is why casinos employ maximum and minimum bets on tables.

Well anyway, this team thought sure they were going to clean out this table.  There was a max bet, but it was big, $75,000

They put down the first bet of $100 and lose.  The next of $200, lose.  $400, $800, $1600, $3200, $6400, $12,800, lose them ALL.  They put down the $25,600.....lose.  They put down the $52,000 bet and lose AGAIN.  They stopped there, but I couldn't imagine.  They didn't think the likelyhood of a 10 straight loss streak was high enough to worry them.  They intended to just keep making money $100 at a time and clean up.  Ended up costing them over $100k.