[ScoopLV]

Originally Posted by Tornado Baby

No clear explanation of what martingaling is. Copying a link does not explain. If it is that simple, please explain.

The link doesn't explain it perfectly?

Martingale (which is likely derived from the word "martegalo" meaning "absurd") is a system of doubling your bet following a loss on a 50/50* odds game like roulette or craps. Eventually, the gambler will hit red or black, and win all of his or her money back. This assumes the gambler has infinite wealth, infinite time, and the house isn't cheating and has no maximum bet.

So, let's throw out the 0 and 00 on roulette. The gambler always bets black because of that Wesley Snipes movie. And the ball lands on red 10 times. On the 11th spin, the gambler is wagering $1,024 in order to win his initial $1 bet back. He has gambled away $2,047 chasing the initial $1 bet.

1 (first bet), 2, 4, 8, 16, 32, 64, 128, 256, 512, 1024 (11th bet). While this system can keep a wealthy gambler playing for a very long time, he or she is wagering more and more to win that same dollar. Eventually, probability will lay a smack-down on the gambler, and the ball will land on red more times than the gambler can double. Now we're dealing with losses of millions to recoup a $1 wager.

Understanding Martingale is the first step to understanding why gambling is a pointless waste of time.



* The only true 50/50 bet in Las Vegas is the coin toss at the Superbowl. All other bets have a house edge, making Martingale even dumber than it already is.

Originally Posted by StinkieMcCain

It wasnt FREE. The $3 win is separate as far as accounting for the cost of your meal.

You're absolutely right. But let's face it, this town is populated by people who would stand in line for a free headache.

[ScoopLV]

Perhaps I should have bolded and underlined "and has no maximum bet" in my post?


EDIT -- Replying to a post that has since been deleted.


EDIT AGAIN -- Also, in that example above. The odds of a true 50/50 roulette spin landing on red 11 times in a row is 1-in-2048. But the chance of another red on that 11th spin are STILL 50/50. This is where gamblers fail at math. And this is where casinos excel at math.

[Scott456]

OP, you forgot to mention how good (or bad) the Silver Seven buffet is.

[ScoopLV]

Originally Posted by Scott456

OP, you forgot to mention how good (or bad) the Silver Seven buffet is.

I can answer that with a post from three years ago:

Originally Posted by ScoopLV

Some people are going to look at the price and say, "Whoa! All you can eat for $8.99?!?!? I am going to put a HURT on that place."

Other people look at the price and say, "What kind of sh** are they putting out to turn a profit on an $8.99 buffet?"

As with most things, if it sounds too good to be true, it probably is. There ARE good buffets here in town. But they cost more. In some cases, a LOT more. It's that simple.

[convextech]

Originally Posted by Caltovegas

I had to look it up.
https://en.m.wikipedia.org/wiki/Mart...etting_system)

So did I, and I'm still not sure I understand.

So you only bet a quarter per deal until you lose, then you double that bet to 50c until you win, and then go back down to quarters again?

[convextech]

Originally Posted by StinkieMcCain

It wasnt FREE. The $3 win is separate as far as accounting for the cost of your meal.

Not to most gamblers.

[Raiderman]

Originally Posted by convextech

So did I, and I'm still not sure I understand.

So you only bet a quarter per deal until you lose, then you double that bet to 50c until you win, and then go back down to quarters again?

Almost. A quarter until you lose, then 50c. If you lose with the 50c, it goes to $1. If you lose with the $1, it goes to $2, and on and on. Not a great strategy, as Scoop pointed out, as if there's a long streak of losing, you need quite the bankroll. Most people playing $1 are not going to have upwards of $1000 in a bankroll.

As an example, let's go with 8 losses in a row with a starting bankroll of $1000, and working on a $1 bet.

BR - $1000 - Spin 1, lose $1 - BR now $999. Increase bet to $2
BR - $997 - Spin 2, lose $2 - BR now $995 - Increase bet to $4
BR - $991 - Spin 3, lose $4 - BR now $987 - Increase bet to $8
BR - $979 - Spin 4 - lose $8 - BR now $971 - Increase bet to $16
BR - $955 - Spin 5 - lose $16 - BR now $939 - Increase bet to $32
BR - $907 - Spin 6 - lose $32 - BR now $875 - Increase bet to $64
BR - $811 - Spin 7 - lose $64 - BR now $747 - Increase bet to $128
BR - $619 - Spin 8 - Lose $128 - BR now $491 - Increase bet to $256

WIN ($256 original bet + $256 winnings = $512) - Bank roll now $1003. Return to $1 bet. You've made $3 in 9 spins, but your last bet was risking $256 to win that 3. Granted, 8 spins in a row is fairly uncommon, but happens. I've tried this, just for fun on Red/Black, and you can play for quite some time, but you're not going to make much.

[EA]

Originally Posted by Scott456

OP, you forgot to mention how good (or bad) the Silver Seven buffet is.

It's not bad. It's not great either.

I prefer their 2.99 eggs, sausage, and hash browns breakfast. I used to eat that, or the steak and eggs for 4.99 every morning when I drove cabs.

[ScoopLV]

John Lennon's roulette system was to place an equal wager on every number except one. He lost all his money in about two hours.

People can learn everything they really need to know about gambling by watching the last 10 minutes of the movie "Wargames."

[LRWalker]

If you were in the military you can sign up at the Stations Casino where on Monday the buffet is two for one (or half price if only one is eating).