Someone once have me a this idea as a project to save money. However, on the 12th day I realized I couldn't keep it going for a whole month. Surprising how quickly those pennies add up.
There are several popular gambling schemes out there that exploits this basic idea. Simply put, you double every time you lose, through perhaps 30 or 40 runs, or spins.
I have read these authors that claim basically this: You place a roulette bet. When you lose, you make the same bet, but double the amount you lost. That is to say, first bet, a buck; second bet two; third bet 4, etc.
They claim that you might need to place as many as 30 or 40 bets in a row or more before you win, but when you win, you win big.
One author claims to have placed as many as 50 bets in a row at a five dollars at a time. Below is an Info-Graphic created by the distinguished Harvard Department of Economics Mathematics Professor, Bob Maxey. I tire of the figgerin, so the World Famous Info-Graphic below only goes to 30 calculations. Anyone want to continue through 50 "spins?"
When you run the math, it is clear that he is a liar. Try doubling five dollars, thirty times. You will see that the bets he claims to make he could not make because he is a crappy writer selling crappy books to idiot wanna-be gamblers. He could not afford the hundreds of millions required to to bet five dollars per bet through 50 bets.
Besides, the Mob will not let you win big, so there.
Oh sure . . . they offer you these amazing packages when they call me at three AM. Like a luxury room actually close to the boiler room and all the $1.47 shrimp cocktails I can eat, but you start winning big while wearing a disguise and then you start dating Guido Lasagne's 19 year old Town daughters and they force you move to Salt Lake City, Utah where I have to change my name. Sure, they both tell you "dont worry, that happens to all guys" but do they call me now? huh? No, just some guy called Knuckles is the only person that visits me and he is hate filled, I'll tell you what.
So stay away from gambling systems, they cause broken knuckles and buckshot in the behind. Besides, you cant afford the costs and you might have to marry two 423 pound Italian women with lovin on their minds and garlic on their breath. No thank you!
5.00
10.00
20.00
40.00
80.00
160.00
320.00
640.00
1,280.00
2,560.00
5,120.00
10,240.00
20,480.00
40,960.00
81,920.00
163,840.00
327,680.00
655,360.00
2,621,440.00
5,242,880.00
10,485,760 .00
20,971,520.00
41,943,040.00
83,886,080.00
167,772,160.00
335,544,320.00
671,088,640.00
1,342,177,280.00
2,684,354,560.00
5,368,709,120.00
See . . . Told ya.