Saturday, December 7, 2013

E-50: Betting Systems

If you've ever spent any time thinking or reading about gambling you've surely considered betting systems. Obviously any system that claims to be a sure winner is absolute bull shit. There is no such thing and any attempt to convince you of otherwise is a lie.

Every game in the casino has been worked out to give the house an unbeatable edge. No betting method can ever beat or even slightly dent that. All a betting system can do is limit the damage the house edge has on your bankroll.

There are generally two forms of betting methods:
Increasing the amount of your bet when you lose or increasing your bet when you win.
Systems that call for you to increased your bets when you lose have two inherent problems. First they assume you have a large bankroll and second you will run up against the table limit before you can follow these all the way to the needed conclusion.

Martingale System: This is the most common betting method. The basis is that you double your bet every time you lose, meaning that eventually you will win a hand and therefore be ahead your initial bet.
This gets expensive quickly. Starting at a base bet of $5 and doubling each time $10, $20, $40. $80. $160 etc. After only 10 hands you are down $5000 and would have gone way over the table limit.

Reverse Martingale: This calls for you to double your bet each time you win, or let it ride and return to your base bet once you lose. The obvious disadvantage to this is that it's only great when your winning, but when do you know to stop? You don't.

360 Betting Method: This method is to increase your bet by one unit after each win for a cycle of four hands at most.
For example; Start with $10, then $15, $20 and $25 and return to the $10 base bet regardless if you win or lose. This betting method keeps it exciting as you increase when you win, but is conservative to a degree as you are taking money and stacking it.

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