My friends and I used to use a martingale system at the casino on roulette.
Wait for 4 colours in a row and then bet on the streak being broken.
One night we were forced to walk away after 15 blacks in a row.
FIFTEEN!!!
Not sure what the streak actually got up to.
The 3 free vodka red bulls were definitely worth it though...
Ah good times ;)
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If you started with $100 (on red, before the first black you mentioned) and were applying the double-your-bet-after-a-loss strategy, that 16th bet would've cost you $3.2 million, just to win that initial $100. Starting after the 4th black, the 12th bet (after the 15th black in a row) would've only cost you $204k (again, to win that initial $100).
Obviously we didn't start with $100 and we certainly didn't get close to betting 200K a pop hahaha.
But yes, you can see how ridiculous this strategy is on roulette.
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Lol... gotta start with $1 lol... really, the purpose for that is the idea that if the underlying asset goes down a percentage, increase the bet. I profited greatly off of it. Today's been a good day for me, enough to take another $50 off the table.
That's funny!