All right Cred Forums so I just came up with this plan to get rich. It's very simple...

All right Cred Forums so I just came up with this plan to get rich. It's very simple. Go to any gambling site with a 50/50 coin flip on it. Start with any amount of money, let's say 10$. Your starting bet is always 50 cents, and if you lose, you double that amount. If you win, you just bet 50 cents again. Mathematically, as long as you have enough money to double your original bet 8-10 times, you should never lose money because the chance of losing more than 8 times in a row is 1 in 256. Why aren't we all millionaires yet Cred Forums?

the problem with arbing for me now is the lack of mobility. i already know from talking to the guy that they will start banning you online and you are then forced to start punting in human form
two way arbs are not good enough. I am not the kind of guy who can do this forever. It's a weekend kinda thing for me so i need to be able to increase the guaranteed return on investment. at the margin 2 way arbs operate on most of your 'profit' will be lost of credit card fees conversion costs etc...

working on volume is not fun even if it is a guaranteed profit.

i just looked it up. its a 3% international transaction fee. im guessing an average return of about say 5%. so there goes the majority of my profit not to mention that i dont have that money like solid liquidity.
The only way to maximize the ~5% is to bet with cash in person.

Who cares about fees if you turn 10$ into 300$ in a day?

This is known as a martingale betting strategy

It is notorious for having an high risk of ruin because a small string of losses, whilst improbable, is catastrophic and the risk of this happening isn't really worth the meager gains you make on successful bets

Source: I am a degenerate gambler

>be me
>become friends with rich guy who lives alone
>he likes to do drugs
>get him high at his house and rob him
>go back after and make it look like someone broke in
>get high myself and pass out before sunrise
>nobodysuspectsathing.jpg
It's like everybodies a faggot now a days. Crime pays if you're good at it.

its not like heres your money i will deposit it right back to your account. I found an arb opportunity. they are reasonably easy to find. The profit if i remember was like 10% which is pretty bloody good but you cant just lay out a bet on the spot.
You have to first convert the cash.
then put the money in your 'account'
then place a bet. and im betting you are more than likely to fuck up here by not getting the rate you calculated on..
then when you win, conversion fee again...
When you are working on those kinds of margins, you cant afford a 3% transaction fee. ofcourse this is when you decide nah ill just keep this money in the account for my future betting activity. and then you dont have actual liquidity. its like a debtor or a prepaid account. its not cash in hand and when you do try to pull it out, youre gonna have that 3% cut....

this isnt gambling and it isn't illegal.
the guy was pretty iffy on the details but i think what he did was go to TAB to place one half of the bet and place the other half online on another LOCAL betting whatever or maybe there are places with multiple idk betting boxes or something where you can place bets and get your return cash in hand...

...

Are you drunk

What about a casino? Roulette is pretty much 50/50 and I don't think the conversion rate is as high as those sites. Plus it's a physical object moving instead of an algorithm that you can't see

no. it seems like a pretty smart way to make money but i want to essentially create derivatives on the bet and lacking that i want to figure out how to do 3,4,5,6... - way arbs cuz i think i can get a higher return from it. not sure though..

>you should never lose
>1 in 256

pick one. stupid nigger

no im not a gambler. i only want to focus on these structured sure things...

...

This is the oldest trick in the book, fuck off. Come up with something new. You can do the same with roulette and betting on red.

Use math and make your chance even smaller by picking a starting bet that you can double 15 or 30 times for all I care. The point still stands that this is a good way to earn money from betting on a 50/50 pot.

its not about the best odds. its about using the odds against each other to eek out an advantage for yourself.
if you start thinking a 50/50 chance is great youre a fucking fool. a lamb to the slaughter

someone help me out, I can't find a downside ...

arbing makes sense for making money and i could easily do it (probably) in my off time, weekends, etc... but if i go all in for arbing instead of an actual job while im studying im essentially doing the same thing i did last time. I have all this sysadmin, etc.. experience but i cant rightly say so because it is for creating a great stack for a seedbox or some other shit. I think if im smart enough to figure out this i am short selling myself by just doing this all day all night.

In the 10th try you have to bet 1024 times the original amount. If you win, you still only gain the original bet.
In the 20th try, you have to bet (roughly) million times the original amount.
And so on. Sooner or later you will be broke.

the downside is the loss of time, loss of who knows what kinds of social things happen because of this... its not the best way to make money full time but its pretty fucking good as a secondary etc...

That it takes a lot of money to cover a number of losses even starting at $1, and you only win $1 at the end.

Go to a calculator and enter 1xx2=
Keep pushing = and it'll show what each following bet will cost.
Add all those numbers together and that's what you need to pay until you eventually win $1.

except betting on red isn't 50/50

im not interested in odds at all. all i care about is generating a positive return on each bet. you don't get it.

I dont understand.

I bet $1, lose.

I bet $2, lose.

I bet $4, lose.

I bet $8, win.

-1 -2 -4 +16 = +$9

I've already made more than a dollar

Holy fuck, you're retarded.

there is a race between x and y

if x wins @ abc.com you get 1.5 on the dollar
if y wins @ xyz.com you get 1.55 on the dollar

you bet the same amount at each website.
do you get it now?

Thanks for explaining why that's the case, user.

I really don't get that example. What do you mean 1.5 on the dollar, I thought it was double? Also why are there two sites? (serious)

Subtract the 8 you moron. You're not actually earning $9 if you previously owned that 8. On a side note, working with higher multiples will net you more, however, the risk is higher.

$1, lose 1
$3, lose 3
$9, lose 9
$27, win $54

Hence, you net $41.

or just steal the money

lol people like u are so fucking retarded

"If you can take it it's Yours"

You are stupide
Please go and bet and waste your money

ah shit my example is shit..
yeah it has to be over 2.
if you use 2.1 and 2.2 or some such
your return will always be higher than your investment...

I trade penny stocks, thousands daily to make small profits. I make 1-3cents per share and usually have 100-200 of each share I sell. So dollars profit is all, but technically I double the money I spent daily

Ohh, mistake on my part. Just say that next time.

So going back to that one: -1 -2 -4 -8 +16 so that's +1...

So the net is always +1??? What the shit that's bad.

...

its essentially the same thing...

You ever see pictures of Vegas, with the huge casinos, the monuments, the lights, the glitter, and wonder how they can afford to build all that?

Because people have sure fire systems.

A person botching numbers is to me what a person botching the English language is to others. But you're nice so I like you. I use this method on the electronic roulette wheels but I never go too high because skepticism and paranoia runs through my veins. Unfortunately, the real roulette tables usually have a minimum bet of $15 or higher, making the risks unbelievably high if statistics want to fuck your life up.

i literally have explained (poorly) but in some detail how this works.. if you want to cover your head in sand so fucking be it. but this honestly looks like a decent opportunity to me. atleast while my real life is in complete fucking tatters

You didn't come up with this. It's called Martingale betting. And it doesn't really work that well.

Well you got the first part right at least
You don't understand

The net is always the original bet.
But if you start with a higher first bet, it's adds up much faster.

This is a well known method and there's a reason everybody that knows of it aren't millionaires

Let's assume you've got 15 dollars to bet with. The only way for you to lose your money would be to lose 4 times in a row, by betting 1+2+4+8=15 dollars and not winning a single time.
Now let's see what the odds are for doubling your money before losing it: You'd need to not lose 4 times in a row for 15 consecutive times.
The odds for losing 4 times in a row are (1/2)^4 = 1/16. The odds of not losing 4 times in a row for 15 consecutive times are thus (1-1/16)^15 which is roughly 0.38 = 38%.

Your get better odds by just putting all of it on red or black at once.
Of course you wouldn't necessarily lose all your money at once (you will most likely win a few times before losing), but you'd end up with less money than you had to begin with, making it even easier to lose it all with this strategy.