Roulette... Probability Question?
A gambling book recommends the following “winning strategy” for the game of roulette. It recommends that the gambler bet $1 on red. If red appears (which has probability 18/38, then the gambler should take her $1 profit and quit. If the gambler loses this bet (which has probability 20/38 of occurring), she should make additional $1 bets on red on each of the next two spins of the roulette wheel and then quit. Let X denote the gambler’s winnings when she quits. Find P(X>0). Many thanks in advance!
Roulette question?
I'm unfamiliar with the "reverse Labouchere" system, but I can safely tell you that no system works for Roulette. The house edge on every spin (assuming the double zero American wheel) is around 5.3%. No amount of manipulation of the stakes can alter this fact. The aim of a system should be to increase enjoyment and give you a good end point to your gambling session, NOT to guarantee a win.
Is online roulette gambling safe?
Yesterday I made an account on Betsson.com, and I deposited 30$ and got 30$ for free to gamble with. I turned 60$ to 125$ in an hour by using the technique where I double my bet everytime I lose. Today I lost everything when I got 9 blacks in a row. (No crises since is was just 30$ I lost.) So my question is, is online roulette safe? Is it completely random, or is the game manipulated? As I said I was using Betsson.com. Are there any other sites that is better? Like Bet365.com? That is proven to be totally safe?
Hi, this is a gambling question and is related to Roulette.?
Hi, this is a gambling question and is related to Roulette. Let s say you have a $1000 bank roll right and you are only betting on numbers and the numbers pay s 36 to 1. Now, on each spin you will always bet using 6 numbers and you will always start at $1.00 and increase the dollar amount to cover your looses and make sure you always profit up to 20 times. What is the dollar amount you would have to continue increasing to avoid loosing. My thought process was 1. $1.00 - $6.00 2. $1.00 - $6.00 3. $1.00 - $6.00 4 .$1.00 - $6.00 5. $1.00 - $6.00 = 6 X 5 = 30 This means it will be time to increase the bet to $2.00 right or should it be higher to avoid a lost or hitting even?
Statistics roulette question?
According to Esquire Magazine, If you want to play roulette, do it in Atlantic City, where the house lets you "surrender" on the results of 0 and 00 -- that is, it returns half your wager. A gambler in Atlantic City plays roulette 100 times, staking $1 on red each time. Find the chance that he comes out ahead of the game. Reminder. The roulette wheel has 38 pockets, numbered 0, 00, and 1 through 36 (figure 3 on p. 282). The green numbers are 0 and 00. Of the other numbers, half are red and half are black. If you bet $1 on red and a red number comes up, you win $1. If a black number comes up, you lose $1. But if 0 or 00 comes up, you only lose $0.50 -- because of the "surrender."
Roulette questions - concerning figuring odds, and table minimums?
i really am not sure on the odds you've asked about or a casino with lower minimums, as i live in Ohio but as for the table minimum, all of your bets total must equal the minimum, so you can have 3 $5.00 bets, or 15 $1.00 bets sorry i could only be 1/3 helpful
Expected Value Question (Statistics - Roulette/Gambling)?
Your expected gain is negative so I'll just use a minus sign. If you win you get back your $5 and win $175 for a "total return" of $180. You will win one time in 38, so your expected "total return" is ($180 / 38) = $4.74 Each time you bet $5.00 you "expect" to get back $4.74. Thus you have an expected gain of $4.74 - $5.00 = -$.26. I prefer to say that your "expected loss" is $.26 Thinking in terms of "Total Return" is definitely the way to think of these problems.. .
What exactly gives the "rush" in gambling (e.g. roulette)? Is it to actually win, or is it the moment that the ball is rolling, hasn't yet landed in a pocket, when everything is possible?
For me personally, it's the moment the ball starts bouncing and is about to stop and you notice it's got a good chance to land on your numbers. Anticipation is often a big part of the rush in many games of chance. For instance in Holden poker the rush starts when you have great hole cards. You are anticipating taking a big pot.
Roulette probability??!!!?
There are 18 red numbers and 20 nonred numbers (including the green 0 and 00) on a roulette wheel. In roulette, you may bet whether the number that comes up is odd (or even). (Remember that 0 does not count as either odd or even.) The wager pays even money, that is, if you win, you get whatever you bet, and if you lose, you lose that same amount. Your expected value for this bet is _______ %.
Could you win roulette by betting $20 on black, going double or nothing every time you lose, $20 again on the win, and statistically earn money? Assume no table limit and infinite capital.
The answer is no.Such a betting system is called a Martingale, and it is worth studying mathematically, but I will eschew the formulas, and just point out a number of features of it that will make it untenable.First of all, you picked a bad game for this strategy right out of the gate. Roulette wheels in the U.S. have 38 slots: 18 each of red and black, and one zero and one double zero. If either zeros comes up, you lose your bet on black, and ift you win, it pays even money, which means that you have an expectation of only about 94.7 cents for every dollar wagered. This means that you have a negative expectation.There is no betting strategy that allows you to make money on a game with negative expectation.“But…”It’s also pretty silly to pretend that you don’t have house limits, and that you have infinite capital. After all, if you had infinite capital, why are you gambling at all?Let’s say you go to a casino. Instead of playing roulette (with its negative expectation), let’s say you are doing the coin flip game. It pays 2:1 for heads on a flip of a perfectly fair coin.After one loss, you are betting 20.After two, you are betting 40.After three… 80After four… 160…320… 640… 1280…2560…5120…10240.And even with that, the expected value of employing this strategy is 0.Editors note: I’m on a redeye while typing this, and goofed at least once. Check my math.Martingales are worth studying, but as cautionary tale rather than strategy.