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Labouchere Betting System
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This system is also called the 'Cancellation' system. There
are many variations. In its simplest form, you write down
a series or a set of numbers; say, 1 2 3 4 5 6. The series
can be short or long and not necessarily sequential such as
1 1 1 3 3 5 7. The choice of a particular series depends on
the type of game you want to apply it to and the odds of the
bet.
Each number represents the amount in units or chips to bet.
You bet the first and last of these numbers. In this example
1 and 6, which totals 7 units.
If you win, you cross out the two numbers and bet the next
two 'ends' (the outside numbers). In this instance 2 and 5.
If you win again you bet on the next two remaining numbers
3 and 4, and if you win that too, you would have made a 'coup'
or completed one game. Then you start all over again. If you
lose, then you add that one number to the end of the series.
Say you lost your first bet of 7 units (1+ 6). Then you add
number 7 to the end of the series to look like this: 1 2 3
4 5 6 7 and your next bet would be 8 units (1+ 7). If you
won the first bet but lost the second 2 and 5, then the series
of numbers would look like this: 2 3 4 5 7. If you work it
out, you will see that when the series is completed or when
you make a 'coup', there is always a profit. The negative
side of this system is that you could end up betting large
sums of money even if your initial bet is small.
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Martingale
Betting System
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The Martingale system is a very old and extremely simple system.
It is based on the probability of losing infinite times in
a row and is usually applied to 'even money' bets.
You start with one bet. If you win, you start again with one
bet. If you lose, you double your bet. Each time you lose,
you double your last lost bet. Eventually you are bound to
win. When you win you would recover all your lost bets plus
one unit (or chip) profit against your initial wager.
Although infallible in theory, the Martingale system requires
a large bankroll, has a very low return and is a very risky
one because of the maximum bet limits imposed by the casinos.
If you run out of money or reach the house limit, you can
lose a lot with no chance to recover your losses.
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