QUOTE(DanDruff @ Mar 17 2008, 01:13 PM)

QUOTE(Merlin9999 @ Mar 17 2008, 11:08 AM)

QUOTE(liquidsyphon @ Mar 17 2008, 01:56 PM)

not sure if you read barry g's book but he puts in it a stupidly simple strategy to playing black jack or other "50/50" games. say you lose your first hand, so then you bet what you lost plus a little more and eventually you'll win a hand and still have a profit. is this feasible or is the max bet on the table going to kill you if you drop like 5 hands in a row
His explanation of the martingale system was meant to decry it as illogical thinking. As he points out, the times you lose a lot of money trying to win one bet will outweigh the many times you win a bet.
Exactly. What you just described, syphon, was the Martingale system, and it is -EV in the long run. In fact, it will lead to quick financial ruin when you finally hit that improbable losing streak. The only way it could work is if you had a literally unlimited bankroll and the casino would let you bet as much as you want per hand. In such a case, you could overcome any losing streak, no matter how bad, by just repeatedly doubling your last bet until you win. However, since nobody has an unlimited roll, and since no casino will let you bet unlimited amounts, you will either go bust or run into the table/house maximum during a bad losing streak, at which point you're screwed.
I tried this at the Sahara,( never play BJ , took a stab at counting practicing for about 2 months, didnt have enuf time or just too bad at math to learn it well enough, got decent in my living room but couldn't pull it off in a casino, if I really tried again I could no doubt) knew it was -EV but all my fiends were playing and I was stuck so since they have/had $1 tables with a high max bet I figured WTF. I think it was like 16 hands I had to lose to go bust, and I got to the 16th hand and won it. I was a few $'s over the max bet on that last hand after he counted it up and they refused to pay me the amount I was over ( I knew they were right but I acted like I was pissed cuz i was bored).
"Sports is a BUSINESS dependent on otherwise bored people who are living vicariously through others in an attempt to build Camaraderie in relationships when there is nothing else to talk about." ME