What is your strategy?

Interesting post found at another website:

" We asked the following question of interview candidates, and gave them twenty minutes to formulate their answer.

You decide to play poker in a casino. But on your way to the poker pit, you are lucky enough to stumble upon a promotional roulette wheel that has been set up differently from a normal wheel. A standard wheel has eighteen black, eighteen red, and one green space (though some have two green spaces). There are still thirty-seven spaces on the wheel, but
- There are four spaces marked Red-16 (the three extra spaces replacing three Black numbers) ,
- There are three spaces marked Red-14 (the two extra spaces replacing two Black numbers).

So there are
Twenty-three spaces marked Red = {Sixteen singles, four Red-16, three Red-14} ,
Thirteen spaces marked Black = {Thirteen singles} ,
One space marked Green = {One Green-0}.

- You have a starting bankroll of $1000, and are allowed to play for ten spins.
- You are only allowed to place one of these types of bets:
-- Any single number (including R-16, R-14, G-0), which pays off at 35-1 ,
-- Red or Black, which pays off at 1-1.
- You are allowed to place a bet for any amount (up to your current bankroll).
- You are allowed to place multiple bets on the same spin.
- You can use any winnings for future bets (e.g., if you bet $1000 on Red on spin one, and win, you now can place up to $2000 worth of bets on spin two.)

What is your strategy?"

 

i would bet 8% of bankroll on red- 16

 

I'd stick with my initial decision and go play poker

 

Yeah, my bad. The OP said "you decide to play roulette in a casino". But I changed it because I figured anybody stupid enough to play regular roulette couldn't figure out the odds on the favorable game.

 

What about a combination bet on both Red and R-16?

 

I play $100 on Red-16 until I win (at which point I stop playing) or the 10 spins are over.

 

The way I read it, the bet on either R-16 or R-14 wins 1:1 if the outcome is any red, except when the outcome is R-16 and R-14, in which case the bet wins 35:1. Therefore, it doesn't make sense to bet on just Red.

 

There's a chance that you could lose everything. Does that concern you?

 

The bet payoffs are the same as for regular roulette. Only the probabilities are different.

 

If I were lucky enough to hurt myself when I stumbled on the wheel, I'd sue the bastards then go play poker with NoDoji.