Roulette question

Discussion in 'Chit Chat' started by jrlvnv, Dec 9, 2008.

  1. jrlvnv


    I am a casino dealer and someone famous asked me this question yesterday.

    If I was going to bet 100 on red, would it be better for just a one time bet of 100 or make $1 bet 100 times. He was looking for the statistics behind it.

    I told him the one time of 100 dollars was better because the less time you play the better.

    So anyone have some insight?
  2. are you really this stupid/

    every bet is independent of the previous one.

    f^ck u a dealer you don't no that f^ck1
  3. jrlvnv


    interesting response. Was just looking for a little info on the difference between the 2 different plays would be. My question didn't pertain to the fact about the spins and how they are different but in the bet itself.
  4. EricP


    Which is "better" depends on what the guy is trying to accomplish. Let me pick three examples of what the guy's 'goal' my be:

    1) To make a profit.
    2) To double his money.
    3) To NOT lose all his money

    As the prior poster mentioned, both cases have an equal 'expectation'. Assuming a roulette wheel with both zero and double zero (i.e. 38 possible results), the expectation is that you will win 47.4% of the time (18/38), and you'll double you bet amount with each win. So, let's address the possible goals above. Put another way, you can expect to get back 94.7% of the money you put on the table (on red), with each spin.

    1) The best hope to make a profit would be to make a single bet of $100. With this option, you have a 47.4% chance of doubling your money, and a 52.6% chance of losing it all. The more bets you make, the less chance you will come out ahead in the long run.

    2) The best hope to double you money is with a single bet, and again, your odds will be 47.4% to be successful.

    3) The best chance to avoid losing all your money would be by making 100 bets of $1 each. In that case, you odds of winning at least once is 99.999999%. Your expected outcome will be $94.70 after 100 bets of $1, but it is extremely unlikely that you will lose it all. By making a single bet of $100, the odds are 52.6% that you'll lose everything.

    To see a random 'equity curve' of making numerous $1 bets on red at a roulette wheel, go to the following link:

    Change the "Win Prob" to 0.473 and change the "Lines Qty" to 10 (in order to see 10 random "equity curves"), then press "Generate". You can repress "Generate" a number of times to see the distribution of 'equity curves' of choosing red on every bet for the roulette wheel. Note, every curve shown will display the equity curve for 453 spins of the roulette wheel (for me, anyway - the number of spins is shown in the lower right corner of the graph).
  5. do more coin flips give edge to your 'predictions'? of course not, each previous occurrence has no effect of future occurrences.

    the same too with games of chance such as roulette
  6. What a perfect answer. Something tells me Eric lives in Vegas, or Atlantic City, and this thread is wrapped up.