Double your bet when you lose??

[Holybull]

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You know, I have heard of this system already. I think the system is called the "Wink". I think it was invented by that old game show host. Wink Martingale. I heard he got rich using it. He owns the company Orbitz now.



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This is correct. However, it all came to an end for Wink in the late 80's when an astute pit boss at Slot's O' Fun caught on to the scheme. He's been banned for life there ever since.

[Quadstriker]

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This is correct. However, it all came to an end for Wink in the late 80's when an astute pit boss at Slot's O' Fun caught on to the scheme. He's been banned for life there ever since.

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Damn! That was going to be my first stop. Do you think they'd know I was a student of Wink's? What types of cover play could I use?

[pzhon]

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Anyone ever experimented with this strategy?

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In case it wasn't obvious, the other responses were making fun of you because this idea is posted so frequently. This is the martingale, a well-known worthless betting system. It does not convert a -EV game to +EV. Long losing streaks happen frequently enough that you will go bankrupt whether there is a table limit or not. There is no way to add negative numbers to produce a positive number, even when the system for choosing the negative numbers is complicated enough that the sum isn't obvious.

[Shoe]

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Anyone ever experimented with this strategy?

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In case it wasn't obvious, the other responses were making fun of you because this idea is posted so frequently. This is the martingale, a well-known worthless betting system. It does not convert a -EV game to +EV. Long losing streaks happen frequently enough that you will go bankrupt whether there is a table limit or not. There is no way to add negative numbers to produce a positive number, even when the system for choosing the negative numbers is complicated enough that the sum isn't obvious.

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Do not listen to this guy. He makes a living using this system (as do I), and doesn't want his secret to get out. You need to be able to handle the swings. For example, yesterday I had the craziest losing streak of my life. I normally start out at $10 per hand, and lost 7x hands in a row. On my last bet before I finally won, I had to put out $320 and my hands were shaking. ($10, $10, $20, $40, $80, $160, $320). The first time you lose after a win, you can bet the same amount. Do you see why?

Edit: For those interested, I was at a $10 min, $500 max bet table, but I had made an agreement with the pit boss that he would keep raising the table max if needed.

[benfranklin]

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I had made an agreement with the pit boss that he would keep raising the table max if needed.

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Did you have to Wink at him as a signal to raise the limit?

[jetsg4]

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Long losing streaks happen frequently enough that you will go bankrupt whether there is a table limit or not.

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if there wasnt a table limit, you could double your bet endlessly and eventually you will win a hand. and i wasn't saying it is the best "destroy the casino and retire to the virgin islands" scheme, just curious if anyone had tried it and/or a variance of it.

[benfranklin]

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if there wasnt a table limit, you could double your bet endlessly and eventually you will win a hand.

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If you had the bankroll to do that, you wouldn't be in a casino trying some lame betting system.

Try actually reading the replies in this thread, then do a Google search for actual analysis. This system was invented about 15 minutes after some caveman invented gambling.

[pzhon]

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Long losing streaks happen frequently enough that you will go bankrupt whether there is a table limit or not.

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if there wasnt a table limit, you could double your bet endlessly and eventually you will win a hand.

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Reread what you quoted. You would go bankrupt. You would be limited by the money you have even if there were no table limits, whether you believe it or not.


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just curious if anyone had tried it and/or a variance of it.

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Casinos laugh their asses off at the hundreds of people who try it afresh each day. Even if you don't understand the math, the math shows why the martingale doesn't work.

[benfranklin]

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the math shows why the martingale doesn't work.

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For those that still don't get it, here is the math, using the OP's example.

You are playing blackjack, starting with a $5 bet, and doubling up when you lose. If you lose 7 hands in a row, you are now down $635. The system calls for the next bet to be $640.

You are playing a game with a house edge. If you win, you are up $5. If you lose, you are down $1275. How do you feel about being in that situation?

[SamIAm]

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if there wasnt a table limit, you could double your bet endlessly and eventually you will win a hand.

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If you had the bankroll to do that, you wouldn't be in a casino trying some lame betting system.

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Posts that talk about really big bankrolls wrt martingales imply that the poster doesn't understand the analysis.

I liked this thread better when we were all making jokes, and not doing the same angry analysis again while outright insulting eachother. I wish this thread had been locked right after the first couple "Wink" jokes. [img]/images/graemlins/frown.gif[/img]
-Sam

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How do you feel about being in that situation?

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It's bonkers that you think this is an explanation "for those who still don't get it".