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  4. how soon would I lose my money at roulette I am contiualy offered free bets
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how soon would I lose my money at roulette I am contiualy offered free bets

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Offline syhprum (OP)

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how soon would I lose my money at roulette I am contiualy offered free bets
« on: 16/01/2017 20:01:28 »
I am continually bombarded by offers of free roulette spins, if I took $1000 and used it to make 1000 bets on either a single number or changed my number for each according to a list of random numbers how much would I have left after my 1000 bets
« Last Edit: 16/01/2017 20:03:37 by syhprum »
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Offline RD

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Re: how soon would I lose my money at roulette I am contiualy offered free bets
« Reply #1 on: 17/01/2017 00:26:02 »
Quote from: syhprum on 16/01/2017 20:01:28
...either a single number or changed my number for each according to a list of random numbers ...

Changing the number after each spin doesn't change the probability of winning:  as the roulette-wheel doesn't have a memory.
https://wikipedia.org/wiki/Gambler%27s_fallacy

Quote from: syhprum on 16/01/2017 20:01:28
if I took $1000 and used it to make 1000 bets on either a single number ... how much would I have left after my 1000 bets
The probability of winning is 1:37, but the house only pays-out 1:35 if you win.

So, on average, every 37 spins, (costing $37), you'd win $35 , i.e. net-loss of $2   

So, on average, your $1000 would become $946 , i.e. net-loss of $54

[ If someone is offering 1000 free bets there must be a catch somewhere ,
 e.g. that in exchange for the "free" bets they get your bank-account details, and help themselves to the contents ].
« Last Edit: 17/01/2017 00:33:09 by RD »
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Offline syhprum (OP)

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Re: how soon would I lose my money at roulette I am contiualy offered free bets
« Reply #2 on: 17/01/2017 02:00:14 »
I wrote a long reply then dropped the key board   ! thanks
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Offline Bored chemist

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Re: how soon would I lose my money at roulette I am contiualy offered free bets
« Reply #3 on: 17/01/2017 20:01:46 »
They usually won't let you cash out
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