And that makes sense to me since it's -EV and you are exposing more money to the HA.Quote: WatchMeWin
The longer you stay, the greater the chance of losing.
Not big wins , 200-500 a pop.... but they are wins.
Nice post OnceDear.Quote: OnceDear
Martingale can be a way of making a small amount of profit with a a high probability of success. The downside to which is the small probability of a massive loss.
You need to look at the probability of your system, whatever it is, making a certain percentage profit. Generally making a meaningful profit is the objective. If you walk into a session with a $1,000,000 expendible bankroll, you can pretty much guarantee winning $10 in that session, and the next and the next, but what's the point?
That's where my rule of thumb comes in. Applies to any low edge game and shows the probability of winning sessions for such target betting. Maybe take a read through...
Nice post OnceDear.
For an average hourly loss! No thanks. And to waste hours a day driving to such jeopardy would be adding insult to injury. Such Marty sessions as I envisaged would be very short compared to wasted travelling time. Again. No thank you.Quote:
a) What is the hourly profit of visiting a casino once/day to play a martingale system?
e.g. if it takes you two hours/day to drive there, play, and come home...
On average one would make a loss, of course. I think it better to consider wagering as entertainment expense and travelling to the casino as part of that entertainment event. Can't put monetary value on fun. I don't play russian roulette for fun, same goes for Martying a big bankroll for peanuts.Quote:
. . .and you play with bankroll X, how does that compare to other gambling things you can do with the same bankroll X?
With the latter, one doesn't need or risk massive bankroll and doesn't sound much like fun. If you have $1,000,000 you wouldn't be tempted by either option. Then again, visiting 8 casinos per day sounds a chore not worth doing.Quote:
Consider picking up a hypothetical $10 FP every day from 8 casinos.
How does it compare to picking up plastic/aluminum recycling for cash?
t's not my gambling method! I guess that bit was aimed at the OP?Quote:
b) If you have a bankroll X, how much can you make invested in the S&P 500?
Compare that with your gambling method.
About $40,000 per year if you follow a regular schedule, and up to $150,000+ if you play most every day. Very nice
Needless to say that the bulk of MY investments are in other opportunities such as interest bearing p2p lending
i charge between 3.5 and 4.5 percent annualised using Ratesetter.com usually in the rolling market which means money on loan for one month. The p2p platform handles all selecting, loan processing collections and default chasing g. No cost to me if borrower defaults. Peer to peer is a big and mature market in the UK. Is it so in the US?Quote: lilredrooster
What interest rate do you charge?
What are your collections techniques?
Peer to peer is a big and mature market in the UK. Is it so in the US?