£120,000 bet at roulette

[benroles]

The guy has just done this crazy bet... After Hard Rock Casino cancelled last minute he had to move to another casino. Anyway... he placed it all on Red (the deal with the casino was that he had to place his bet before two spins of the ball or the bet was off). The outcome...

... RED! He's walked away with £270,000.

And to be honest I am really disappointed as I wanted to see his face when he lost.

Not to mention all the people that will now try to emulate his success and waste their kids college funds on such a stupid thing.

Anyway - he went, he did, he got lucky.

[Casinomeister]

And to be honest I am really disappointed as I wanted to see his face when he lost.

Not to mention all the people that will now try to emulate his success and waste their kids college funds on such a stupid thing.

Ditto...I bet there will be alot of copy-cat gamblers out there whose sense of invincibility is boosted by his exploits. I'm sure there will be someone who will try and out do him.

[HateMG]

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Ditto...I bet there will be alot of copy-cat gamblers out there whose sense of invincibility is boosted by his exploits. I'm sure there will be someone who will try and out do him.
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He's not the first one and I think he's a copycat. About 8 years ago I read an article in one of UK magazine in flight from London to NY about a guy from UK which took all his fortune about £250,000 and put everything (which was his do-or-die bet) also on red in Las Vegas and won. He took the money and noone saw him playing again.

[jpm]

That's it! They found a system to win BIG. Bet your life savings on Red and you'll ALWAYS win. I'm going to sell it all and head to vegas. C ya suckers!!!!

[HateMG]

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That's it! They found a system to win BIG. Bet your life savings on Red and you'll ALWAYS win. I'm going to sell it all and head to vegas. C ya suckers!!!!
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Warning!!! The system is not bullet-proof. Unless it's played 1,000,000 times there is no guarantee.

[Clayman]

Well I gotta give the guy some credit. I mean if you're going to bet on red or black and want to maximize your EV and profit, the mathematically correct play is to play once and then quit, isn't it? Or, isn't it? GM? Freebie? Sam?

[hhcfreebie]

Well I gotta give the guy some credit. I mean if you're going to bet on red or black and want to maximize your EV and profit, the mathematically correct play is to play once and then quit, isn't it? Or, isn't it? GM? Freebie? Sam?

The mathematically correct play is NOT to play.
If he has to bet, then he should choose european roulette in europe, not the killer double zero american roulette.
Unless he place the bet on 0-00-1-2-3, the house edge is all the same. The only difference is the variance. Placing bet on Red/Black has lower variance than betting on single number. Placing bet covering 18 numbers offer the same variance as betting on red/black. The "no risk" betting is to cover all numbers, that way you will always loose 2 of your bet out of 38 for a house edge of 5.28% (variance = STD = 0).
If there is a side bet. I am more than glad to bank he will loose. If there are more silly gambers trying to do this stunt again, I'll bet $50 to anyone's $49 that he will loose.
Not only the odds were against him, the money he bet means much more than the money he won. That's called marginal effect.
Imagine if I have 10k in the bank, $5 means nothing to me. To a homeless who has nothing, $5 means he can have 2 meals for the day.
No one with the right mind should do that.
ps: Because of the marginal effect, if I MUST play the best bet is the "no risk" bet.

[HateMG]

If he has to bet, then he should choose european roulette in europe, not the killer double zero american roulette.

The problem is they don't have big enough balls to accept such bet.

[santo]

I think you'll find the casino had agreed to call "no roll" on double zero..

[gfkostas]

I think you'll find the casino had agreed to call "no roll" on double zero..

No roll means tie if the ball was landed on 00?
Also one other thing i never got to know is: Would they gave him half the bet back if the ball was landed on 0?