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GET RICH GAMBLING!

by Adam Roy
10 replies
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A friend of mind just brought up a pretty interesting concept for gambling....I'm not a gambler just wanted to share this, thought it was kind of funny.

I don't recommend you go and gamble with this strategy

Anyways, take a 50/50 spread....sports betting.

The spread is built in such a way, that handicaps, team performance, and other factors are factored in to create a 50/50 chance of winning the best they can.

Anyways, Say you start with $50.

You find a game, with a 50/50 spread to bet on...and you bet your $50 on either team.

If you win the bet, put your winning $50 aside. Now you still have $50 in.

Now if you lose, you'll be down to -$50 because you bet $50 and lost it.

So next time you have to bet $100 to make your money back and still be in the game.

If you win that, you put $50 aside and keep $50 in.

If you lose, your down $150. So the next time you bet, you have to bet $200 and win it to make your money back and still be in the game.

etc. etc.

The idea is...with a 50/50 spread...eventually you WILL win. So when you lose, you just have to bet double or $50 more.

So, the more IN DEBT you get, the more you win ... it's a 50/50 spread you WILL win eventually.

Every time you win $50...you put it aside. And gamble anything else, and re-gamble it every time you lose!

Just thought that was interesting, my buddy doesn't gamble but he is one of those "hey, I have a brilliant idea" type of guys.

Anyway, it makes sense, just not a very smart thing to actually do I guess. Haha probably in one of those scam sports betting guides somewhere.

Interesting?
  • Profile picture of the author Lawrh
    It's the Martingale betting system and will put you in the poorhouse. It's been adapted to forex trading and probably everything else.

    Kurt will probably put in his two cents, he knows more about gambling than most here.
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    • Profile picture of the author Kurt
      Originally Posted by Lawrh View Post

      It's the Martingale betting system and will put you in the poorhouse. It's been adapted to forex trading and probably everything else.

      Kurt will probably put in his two cents, he knows more about gambling than most here.
      Lawrence is correct. This betting system is so well known and so well studied that it has it's own name: The Martingale.

      But to the real experts, it's know as "gambler's ruin". It's like fools gold. Not to mention, you didn't include the house vig, which means you probably need to win 55% of the time to break even.

      Quickly, no betting system can over-come a house advantage. What the Martingale will do is have you win more often, but not very much. However, that rare time you do lose, it will be catastrophic.

      Google "martingale" before you or your friend invest your life savings and bet the ranch. Trust me, your odds are a million times better spending that money, time and effort in IM.
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      • Profile picture of the author JustinDupre
        Originally Posted by Kurt View Post

        Lawrence is correct. This betting system is so well known and so well studied that it has it's own name: The Martingale.

        But to the real experts, it's know as "gambler's ruin". It's like fools gold. Not to mention, you didn't include the house vig, which means you probably need to win 55% of the time to break even.

        Quickly, no betting system can over-come a house advantage. What the Martingale will do is have you win more often, but not very much. However, that rare time you do lose, it will be catastrophic.

        Google "martingale" before you or your friend invest your life savings and bet the ranch. Trust me, your odds are a million times better spending that money, time and effort in IM.
        wise words coming from a wise man about gambling. Some of my close friends keep telling me to stay away from gambling site and investing on stocks at the moment. Hmm guess I'll just stick with IM!
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  • Profile picture of the author Adam Roy
    Hmmm interesting...

    A crazy concept, I wonder how many people buy information like that. then go broke.
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  • Profile picture of the author anthon
    AAh!
    Sounds interesting.
    But i don't think We can succeed that way other wise everyone have had been rich gambling.
    There is no way to make money through gambling unless you do cheating.
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  • Profile picture of the author sloanjim
    Can't be done.....beleive me many try and fail. Martingale stratgey always blows up. Trader have tried it as well. It will fail 100% certain.
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    • Profile picture of the author mikeveli20
      Kurt said it very well. I learned the hard way (well not too bad, but lost about $1500 after being up $2000).

      There are way better money management strategies out there which are less risky and help protect your bankroll. For sports (my primary form of gambling), I use a variation of the Labouchere or the 10% method (raise 10% after a win, lower 10% after a loss). Of course when it comes to sports betting, it helps to know your stuff and watch out for bets with good value. Having a proper money management strategy is a good formula for success and one I use to consistently pull in 150-200 units per year.
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  • Profile picture of the author Glovek77
    Gambling is designed for players to lose. Not a good idea at all mate You will try and try and fail.
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    • Profile picture of the author Edk
      Having been a bettor, I'd say the smart way to win at that game is to be 'the house'. Betting is - can't find the word - but it's antipathetic to bettors. If you invest semi-smartly in property or the stock market, market forces carry you along. It seems that way. In betting, you're not just battling the odds in a mathematical sense, but the people in the betting game, you incur their spite, venom and all that from day 1.
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