Im not sure what this method is called but can anybody tell me how good of a system this is?

Say you are fliping a coin and start out with a 500$ bet and win, you now have 1,000$, you take 250$ from that(50% of the profit) and use it for your next bet, this time you lose.
so then you double your previous bet to cover the losses and do this untill you win. would this be a good system?

Quote: Amaranthie

Say you are fliping a coin and start out with a 500$ bet and win, you now have 1,000$, you take 250$ from that(50% of the profit) and use it for your next bet, this time you lose.
so then you double your previous bet to cover the losses and do this untill you win. would this be a good system?

For flipping a coin with an infinite amount of money, yes. In a casino with a house edge, limited bankroll, and min and max bets set by the house, no. You will encounter a losing streak that will wipe you out.

LMGTFY

even when the odds are 50 50? im talking about no host just 2 people fliping a coin. no house rules.
I am using this info to gamble playing the game Runescape.com i am boxing and trying to make a good sum of money. with maxed melee skills against another maxed melee character your odds are 50 50. would this be a good idea for good money making on 50 50 odds?

Even when the odds are 50:50. Nothing you do can 'make' money on a game that is 50:50 or worse. It's all luck, do whatever you want.

thanks for the speedy reply :) this will help me out a lot when i start to box on my game and make me some money. i will let you know how well it works. thanks all for your comments