Mickey, your bet could be a hustle, doesn't prove anything and you should know better. As an example take a coin where you have a 49% of winning a toss and a 51% of losing. Let's say you're using a martingale method of gambling where on your first toss you wager $500, if you win you're up $500 and you collect your bet. If you lose you bet $1000 on the next toss. If you win that toss you're up $500 and you collect your bet. If you lose you bet $2000 on the next toss (we'll say you now reached the house limit). If you win that toss you're up $500 and you collect your bet. If you lose you give up, you're down $3500 and you lose your bet. Just on the coin flip part of your wager your expectation is (((1-((0.51)**3))*500)-3500*((0.51**3))) = -$30.604. Let's say you're also betting $500 on wether you can win $500. Because you're getting "even money" on your side bet your overall expectancy for both the coin flip and the side wager goes to -30.604+(500*(((1-((0.51)**3)-(0.51**3))) = $336.745.
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Posted by: nordo123@aol.com
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