Have you wondered if doubling your bet every time you gamble is a winning strategy? Is it a surefire way to hit the jackpot or a risky move? Let’s dive into this popular gambling theory and explore if it’s worth a shot!
#gamblingtips #casinostrategy #doubleyourbet #winbig
The Double Your Bet Strategy Explained
How Does It Work?
The theory behind doubling your bet is that eventually, you will win back all your losses and make a profit when you hit a winning streak.
Is It Foolproof?
While this strategy may work in theory, in reality, it’s risky. Casinos have betting limits, and you could quickly run out of money before hitting that winning streak.
What Are the Risks Involved?
Doubling your bet every time can lead to substantial losses if you hit a losing streak. It’s essential to set limits and play responsibly.
Alternatives to Consider
Set a Budget
Instead of doubling your bet, set a budget for each gambling session to control your losses.
Final Thoughts
While the idea of doubling your bet may sound tempting, it’s crucial to weigh the risks and consider other strategies. Remember, gambling should be fun and done responsibly. What are your thoughts on this popular gambling strategy? Let us know in the comments!
You could, but Casinos wont let you
The House loves people like you.
There are table limits. If you don’t win your bet before hitting that limit, you’re toast.
Einstein actually suggested this roulette strategy (apocryphally).
Even assuming there is no table maximum and you have a huge bankroll, when you win (which you do most of the time), you win the table minimum (say $5). But when you lose (which is more rare), you lose basically everything. The expected value is still negative.
But of course, there *are* table maximums, to speed your loss.
You would need infinite money, and a no-limit game. And in the end. All you “win” is a recoup of your losses.
This is called the [Martingale system](https://en.m.wikipedia.org/wiki/Martingale_%28betting_system%29) , and it dates back to 18th century France. Needless to say it’s not new. It works until you hit the losing streak that causes you to exhaust your bank roll or the table limits. Inevitably, that will happen if you play enough. A mathematical certainty.
doesn’t work
And … at what point there so you start making money?
The profit margin decreases to closer to 0% net gain every time you bet, so eventually you’re bettering thousands of dollars for a 50/50 shot at a chance of a 1% total payout.
First, the casinos impose limits for minimum and maximum bets. If you’re at a table where you can bet $4, then your maximum is probably about $500. You can’t bet any higher unless you find a seat at a different table with a higher limit.
Second, you need a bankroll. Just the 10 bets you listed ($4 to $2048) requires a bankroll of $4092.
[it’s double your biggest bet, less the amount of your first bet]
If you want to go for 20 bets in a row, you’d need HUGE money.
$4 = 2^2 , $8=2^3 , … $1024=2^10 , $2048=2^11 , …
So you’re looking to fund another 10 bets, up to 2^21 = $2,097,152 requiring a bankroll of about $4.2 million.
The dice, wheel, cards or other mechanism doesn’t remember that “it lost” 10 times or 19 times in a row. Every time the game plays it starts with fresh odds. Unless you are finding a defect in the game – then you should logically think that the event happening 19 times in a row might be slightly more likely to happen again.
Wow that’s a pretty huge risk just for $4
What if it hits red 15 times in a row? You’d be pretty fucked
This works perfect actually. 99% of gamblers quit before they win it big
Anything you can think of, Big Casino already has as well, and made rules about it to keep stealing your money. Gambling and expecting to get rich is like smoking cigarettes to look like a movie star.
Most table games, on the sign that shows the min and max for the table, say “no progressive betting”.
You may get away with going 5, 10, 20, 40, 80… but then the pit boss will come over and put a stop to it.
Nope. If you’re really methodically go through all the statistical analysis, you’ll find this strategy does not work.
You’ll be better off using that same money strategy to buy the s&p once a week
Casinos now have high-bet limits for this very reason
I’m amazed that no one here has pointed out the real problem with this. There are no games that have perfectly 50/50 odds. Roulette is being regularly referenced here, but roulette doesn’t have perfect 50/50 odds for red vs black because of the 0, 00, and increasingly present 000 spaces.
The house always has an advantage. Always.
Sucks when it gets above $1mm though when you were only trying to make $10k.
If you had the kind of money you’d need to survive the losing streak, you wouldn’t be bothering trying to make money with the small initial bets. Not worth your time.
As long as you have infinite money, yes.
But what happens if you keep losing over and over and over again? If your 100k bet fails, do you have 200k in. The bank to get it back? If that fails, do you have 400k? Etc etc etc.
The casino has way more money than you, meaning they can survive a losing streak way longer than gamblers can.
If you are wondering for example how many times odds can come up before even, I’ve see 10 in a row.
There’s an old line.
Casinos have a word for people with systems.
“Welcome.”
The first thing that came to mind was the *Archegos* thing back in 2021.
like 10 years ago i lived close to atlantic city and would go there on some weekends and play blackjack there. this was the strategy i always played for betting, I always looked for a $10 minimum blackjack table to play on.
the first 8 or so times i went I walked away with between $300 and $500 each trip, winning $10 at a time per win, or $20 if I doubled down, but avoiding any big losing streaks of more than 7 games in a row at any point. Made like $3,000 over that time.
Then I finally had the bad day where I lost 8 games in a row and had that hand where I lost $1,280 on a single hand, plus losing $1,270 on the previous 7 games. Being that I was down $2,550 on 8 hands of blackjack, i decided not to bet $2,560 on the next hand because at that point I would have lost $5,110 total which was more than I had won there in all my other trips to atlantic city combined, so I walked away. Overall I went to AC like 9 times that summer and was up only about $500, and probably even when considering all the money I spent on gas, tolls and food, and I decided not to continue doing that
moral of the story is, this strategy can work, but eventually you are going to lose x-number of games in a row to the point you are not going be be able to cover your bet, or it is not worth making such a big bet to win so little
the only cool part about this strat was sometimes people would see me betting like $640 or $1,280 on a single hand of blackjack and win and act like i was some high roller, even though i was just covering my losses and winning ten bucks ha
Flip a coin. It’s 50/50 odds right? Be shocked when it lands heads many times in a row. Let’s call this losing and now you see the problem.
Even without table limits this number gets very big very quickly. You say “just bet 20 times and you’ll win *almost* every time” well that’s great until you realise that by the 20th bet you have to be able to front 22 million dollars (on top of the 22 million you already spent getting to this point), and if you win you ultimately only gain $4 from it.
I once walked into a casino, sat down at a blackjack table with a $10 min. I lost 20 hands in a row and I am pretty good at blackjack. So this strategy would have cost me a lot of money.
edit: I did not have $5,242,880
Because you are more likely to lose your bank roll before make that amount. Say you got $1023
given all combo of W&L 10 long. All but 1 combo leads to 10L. The rule is you quit after your win and bets of $1.
In 1023 cases you make $1
1 case you lose $1023
For the case of 45% win rate this gives an expected lost rate of -$2.59/1024
And win rate $1021.4/1024
Net is $1018.8 or -$4.18
So go in with $1,023 on average you will have $1018.8
99.75% of the time you will have $1024 or +$1
0.25% you have nothing or -$1023
> Basically infinite money
You sweet summer child
If it were possible to reliably beat the house using such a simple strategy, casinos would not exist, because it would be an unsustainable business model.
And yet casinos are wildly successful.
What does that tell you?
Am I the only one reading the question wrong?
If you have a ~45% chance of winning and you bet 20 times, doubling every time….
Probability of winning this is .45 power 20. Player has to win 20 consecutive times. This comes to approximately 1 in 8.6 million. So, if the initial bet is $4, player has to theoretically spend around $34.4 million to win 1 time. Money earned for that win will be around 4.2 million.
You are theoretically spending around $34.4 million to earn around 4.2 million.
Please correct me if I am wrong.
Your winning at the end is only the initial amount that you put to the table. That’s even to assume you manage to win before hitting table limit or losing so many times to exhaust your entire money. Huge downside potential with limited win
Card dealer here, this doesn’t work.
People are citing numbers but my anecdotal experience is that anyone who does this only has to lose like, three hands before it gets blown WAY out of proportion. I see people on blackjack tables all the time up to several times their original bet trying to recoup their losses off a hundred dollar buy in. You could just keep losing, happens all the time.
Odds are you don’t HAVE 2 grand to try doing this after you lose those first few hands, and if you do you’re not the kind of person who gives a shit about losing several thousand dollars in an hour at the tables.
Depending on the game you play your odds could also be getting worse as you play. On a game like roulette the odds are static, but in a game of 6 deck blackjack every card getting dealt is shifting your odds around. There could be hands that are literally unwinnable no matter what you do.
If you’re thinking about going to a casino, first of all, don’t.
Second, just set a budget and stick to it. If they take your hundred dollars then oh well, just enjoy the game if you can. Also remember they’re gonna try and take anything you win back, so don’t go in for an overpriced steak at their restaurants if you do hit a win somewhere along the way.
Oh, and if you’re up a comfortable amount just take it and run. If you keep playing it’ll all disappear on you.
Instead of doubling every time, triple or quadruple instead, play once then stop once you win after a long losing streak. Don’t play again after that.
Of course, you’d need to be rich in the first place.
What if you apply this when only picking long shots at the track? Soon as you hit a long shot quit for the day. Usually a long shot hits once a day or two.
This is called “the unit bet”
What other people are saying is correct. I’ve used this system in video games that have a gambling minigame, and it seems to work great — until it doesn’t. And then you lose everything.
In certain video games you have the option to save and reload if your bet fails, so it can be used as an infinite money exploit, though it can be time consuming.
In real life, even on a 50/50 bet, you’ll still eventually hit a losing streak that will cost you everything.
Let’s say you have $10,000. You find a table where you are allowed to double your bet as much as you like, and place your first bet. You play it cool and only bet $2.
You lose, so you bet $4. You lose, so you bet $8.
Then you win, and your total profit was… $2. Nice.
You’ll only really lose all your money if you lose 13 bets in a row. And what are the odds of that, right?
So you figure you found an IRL infinite money glitch.
But you *will* eventually hit a 13 bet losing streak, and lose all your money. It’s just a matter of time.
At some point you will have put $512 on the table, and you will start to sweat. If you lose, you lose a huge chunk of money. And if you win, you only get $2. It starts to feel like a really risky thing to be doing at that point.
You lose again, and now you’re having to risk $1024 in your hopes of earning $2.
You start to feel like this is absurd. You’re not making much money, you’re making it pretty slowly, and you’re essentially risking *all* your money to do it.
Add to that the fact that no casino game *really* gives you 50/50 odds, so your odds of a losing streak are higher than this.
I did this on an online casino thinking I was treading new ground. $90 → $13,000 → $0.
It works great if you’re okay with knowing you’re using all your money to hedge hundreds of bets and know when to stop
Yes, this is a real story. Yes, I feel bad for losing it. However, the $90 came from patiently collecting the site’s “daily bonus”. I didn’t lose a dime
Go into your calculator. Hit “1*2=” then just keep hitting “*2=” and count how many presses of = until the output equals your bank accounts. Won’t take too long.
So if you double up on the $4 bet do you claim victory and quit? If not then, when do you quit?
You can simulate this really easily in Excel with a couple of IF formulas and a random number generator.
Try it and see how it goes.
After losing like 10 times in a row. You need to spend $4096 to win $4.
Its very possible to lose 10 in a row.
It will work if you have a limitless amount of money. But doubling constantly gets to big numbers really fast, so if you have a good losing streak, you’ll be bankrupt really quick.
I used chat gpt to make a little program that counts how many times you can lose the 50/50 in a row with X attempts. It got up to 28 losses in a row. That’s a lot of times to double your bet.
If you have the money, yes. But you can just as easily lose it all in one bet.
If you had the sort of money to safely safeguard your bet by doubling it up to 20 times, you wouldn’t need more money.