I've tried that system! Unfortunately if you don't tip the cocktail girl at least a dollar chip for every "free" drink, they kinda "forget" you next time...there goes your "profit"...
Ugh, yet again, please read my posts carefully. The pass line odds bet is a 0% house edge by itself. Of course, you can't just place a pass line odds bet. You must first place a pass line bet. So the house edge statistics you posted above are for the pass line bet + pass line odds bet.
Yes, I'm sure. In fact , the odds of him LOSING $5.8m are about 19%. Btw, i love all this talk of martingaling when the casino has restricted him to a max bet of $100k.
This is not something new anyway, Kerry Packer used to win and lose tens of millions. He didn't have any edge, just was lucky and unlucky: http://www.thegoodgamblingguide.co.uk/spotlight/players/kerrypacker.htm He also liked to win, especially at gaming tables around the world, where tales of his successes, losses and extraordinary tips are legendary. He reportedly lost £8m playing blackjack in London in 1987, then won £10m at the same game in Las Vegas eight years later. Tales of tips to hostesses and waitresses of £50,000 also abounded. ... Legendary Status Mr Packer's legendary status as a high stakes gambler came to the fore when he took Las Vegas' MGM Grand for $26 million playing blackjack for $200,000 a hand, six hands at a time. It was this big hit and run style that actually got him barred from stuffy Vegas joints because they just couldn't take the action. Mr Packer was also reported to have suffered the biggest losses ever sustained in the UK in September 1999, dropping £11m ($16.5m) at Crockfords casino in London. However at that time such sums were only a tiny fraction of the wealth of the owner of Australia's Nine television network, estimated to be around $8bn. More $20 million losses have been reported but there are also tales of incredible generosity, including a $100,000 tip to dealers and waitresses and loans to fellow gamblers whose repayment he refuses to accept.
Which is exactly my point. That particular bet isn't listed in the odds because it's not a permitted bet. Arguing the house edge on a bet no casino allows is pointless.
This guy isn't a card counter or system player. He's a gambler! Casino's hate gamblers and love system players for the most part. System players are usually grossly under capitalized and eventually the deviation from the mean buries their ass. Gamblers play a hunch, usually lose, but when they hit it's a grand slam. Casino's hate that because it's impossible to predict. System players are predictable.
Do you think he's smart enough to call it a day or he'll keep pushing his luck at other casinos and eventually gives it all back and some?