Double Down Betting strategy, a fact of winning, or just Fiction?

IE

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One strategy that always seems to pop its head up every few months from someone, and I am always asked about its validity, is the infamous "Double Down until you Win" scheme. This strategy enables you to play the "odds" and keep betting until you eventually get paid. I think it is the quickest and most sure way to lose your bankroll for a number of reasons.

Let me Explain. Lets say you want to try this strategy out. You are a $50 straight bettor. You lay $55 and lose. The next game you lay $121 to win $110 ( Again, a $50 profit if it hits). If it loses again, your third bet is now laying $245 to win $226 (still a $50 profit, and your profit margin to money wagered is now a paltry 21%, compared to 90% in your first original bet!). Here is where it gets tricky. First, most players (around 75%) open new sportsbook accounts for $500 or less. This would almost deplete the bankroll right away, and I don't know about you, but when you are Stone Cold, I will bet against someone just for being in a STRONG down cycle. Second, 99% of all people will bet with their wallets instead of their heads and USUALLY end up Betting on a game THEY have NEVER looked at or studied, just trying to play "the odds". Again, a bad move and you are erroding the odds against you, that you are trying to play FOR you.

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Back to the strategy. On the fourth bet we are now down $421 in 3 bets, and in order to come out ahead $50, we must now lay $518 to come away with a profit of $50. First off, Is anyone who is reading this, REALLY going to bet $518 with a person that has lost 3 Games in a row, AND EVEN if he wins is ONLY going to come away with a profit of $50?? If you answered yes, then I want to be your bookie! Now if this loses a 4th game in a row, that person is now down $939, and that would wipe out 95% of the players on the internet sportsbook-- At least until they make another deposit!

Another reason why this strategy is doomed, is because it is VERY high risk. Players that try this are RISKY players and 99% of risky players do not have the patience to wait out the bad streak and actually have a chance to be successful and play those odds they cling to, that eventually HAVE to hit. After losing as little as two games in a row, I have seen folks hurl in their entire bankrolls out of frustration and stupidity. You will get lucky for a while, but eventually you will lose! They always do, and the Bookies just keep raking it in!

Folks, bet smart, and be sure of the quality of your information and, remember: Sports Betting is a Marathon, not a Sprint!

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Marco

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Bill Gates might be able to make it work if the cap on his betting limit was lifted.....

Hard to see this work unless you're starting with a $2.00 bet, meaning that you have a few more bets to lose before turning into the scenario you wrote about.....

I know a guy who plays cards and every once in a while he goes double or nothing knowing he's not going to get shutout.....
 
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