High Rollers: A History of Gambling (Documentary)

November 18, 2020 at 4:35 am

Marilyn in Reno

October 11, 2020 at 4:28 am

More Gambling Quotes

September 7, 2020 at 3:46 am

“Gambling is not about how well you play the games, it’s really about how well you handle your money.” – V. P. Pappy.

“Once you start thinking you have nothing left to learn, you have everything to learn.” – Steve Badger

“Nobody has ever bet enough on a winning horse.”

“Money won is twice as sweet as money earned.” – Fast Eddie Felson (Paul Newman)

“Quit while you’re ahead. All the best gamblers do.” – Baltasar Gracián y Morales

Martingale Madness

August 7, 2020 at 2:37 am

The martingale system more than most condenses the wild highs and lows of the casinos. You can go from feeling that you’ve cracked the code, Alan Turing style one minute, to suddenly being in a state of dread the next. For the uninitiated the martingale system, when applied to roulette involves doubling down each time you lose (on say red or black), with the view what when your colour eventually comes up you’ll double your initial stake. That’s all find and dandy in principle of course and there’s no denying that when approached in methodical fashion it can lead to significant gains over a short to medium length of time.

There is of course though, no such thing as a free lunch. The problem comes due to the dizzying amounts you may need to end up placing on an outcome for the sake of winning a paltry sum. The average persons view I’m sure if that there are rarely significant runs of a single colour over time, but that’s simply not true. And even where it is in the short term, eventually probability will claw it all back when you do end up on a run from hell.  I’m not even a regular casino goer compared to the average diehard, but even I’ve seen runs of 10 reds or blacks in a row on occasion. That would give the average martingale enthusiast cold sweats, or as a worst case scenario a fast emptying bank account.

There’s a certainly logic if you’re in it for the fun, in say doubling up once or twice when you lose to see if you can claw your money back, but be aware that every spin is entirely separate and so nothing that has come before somehow magically persuades the ball to go into a different colour. As obvious as that is, it can be hard for people to get their heads around!