odds of winning when you bet "on black" is 50%
Actually that's where the green 0 and sometimes even an added 00 come in? To lower your odds below 50> house always wins
Also doubling is like 100% compounding and it only takes one somewhat bad losing streak to wipe you out, even with a looooot of money. Know the story of the chess board and rice?
chess board and rice...nope. :)
There's many variations I just now discovered, from why the reward to what is done to fix the problem but this is one of them after a quick search:
https://purposefocuscommitment.com/wisdom-story-king-con-artist-chessboard-rice/
Oh, ok. I knew about the doubling effect, for sure. It doesn't really have bearing on this investment strategy, and even the fact that the "house" builds in a win doesn't have an effect on the investment strategy. The strategy works by incremental gains. I've been tracking it for nearly a year and will likely do a post in the coming months on the results. It's been fascinating. I've implemented the strategy with both dogecoin and bitcoin because they're both volatile. I started when the price was at least double what it is now, and in the case of dogecoin, 4.5x today's price...