There are a few main reasons why traditional progressive betting systems don’t work. Firstly, despite what most people like to believe, there is not a 50% chance of it spinning up red or black. In reality when the house edge has been taking into account there is only a 49% chance of red, 49% chance of black and a 2% chance in 0 coming up. This means that when you place your bet on a color you are more likely to lose than win.
With traditional progressive betting systems after a few losses your bet can also get quite high just to make your money back. From personal experience I have seen bets of more than $800 just to make $1. This causes the downfall of many desperate gamblers.
Aother major downfall is the "law of averages" which states that an outcome of a random event will eventualy even out when repeated within a small sample. We will describe the effects of this law and the law of large numbers in the next post.
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