/biz/ - Business & Finance

>>28266709

All these answers are retarded.

>Casino games

No. Unless you encounter a roulette wheel with no maximum, and have $10k to bring with you, and are only willing to play in $1 increments, you cannot win at any casino-game long-term. This is because of Expected Value. On a fair coin flip, you have a 50% of winning or losing, so if you bet $1 on Heads, you have a 50% chance of winning or losing a $.

>.5*1 - .5*-1 = 0

If you did this a million times, you would end up with a change of $0, or something very close to it.

In a game of roulette, the math for betting on red is

>.42*1 - .58*-1 = -.08

You are losing $0.08 for every dollar you bet on red in roulette. Sure, in the very short term, anything can happen. Red can be spun 10 times in a row, and you can turn your 100 into 102,400 by letting it ride. But, in the long term, and often in the medium term, you will lose.

Double betting on roulette is also dangerous. Table maximums exist to prevent you from doing this profitably.

>bet $1
>bet $2 (spent 1)
>4(3)
>8(7)
>16(15)
>32(31)
>64(63)
>128(127)
>256(255)
>511(510)
>1022(1021)

And so on. All it would take is one run of particularly bad luck (which WILL happen eventually) to wipe most people's finances out completely, or otherwise hit the table max, and you would be doing this just so you could win $1.