Suppose you did this for a maximum of 108 spins, 36 at £1, 36 at £2 and 36 at £4, you would have a 5.19% chance of losing £252. The most you expect to make is £35, which you get if 0 comes in straight away. 95% of the time you make between £0 and £36. Of the times that you win, your average result will be + £6.61. So 95% of the time you do this you will win about £6.61, and 5% of the time you will lose £252. Add them up and your equity is negative.



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