No winning systems?

[Kane]

Hi, I have heard so many times that there's no winning system in roulette. How do people then explain
this Gonzalo Garcia-Pelayo guy and his family who won a lot of money in many casinos.

They even published a book, and describe how they did it.

[2_cups_short]

I guess the simple answer is that all the mugs that bought the book are not millionaires.

[Semstroy]

Is it classified as fiction or non-fiction?

I'd have to agree with 2_cups_short here

[Playborne]

there is not legal and honest ways to beat Roulette. : )

[KasinoKing]

there is not legal and honest ways to beat Roulette. : )

There is one way...
When you start playing the game for real money for the first time ever, chances are that your bank balance will be above your starting amount at some point.
So all you do is just stop then and NEVER play the game ever again.
Hey-presto - you've beaten roulette!

KK

[Playborne]

Hey-presto - you've beaten roulette!

Great way, with some ironic accent

[scepticus]

Hi guys
The general consensus is that you should not buy roulette systems.I agree.
If anyone had a winning system why on earth would they sell or tell ?
That said, I don't agree that there are no winning systems .and for the reason given above.why would it be sold?
We just don't know if there are any winning systems .Speculation is not proof.
Nor do I agree that you are CERTAIN to lose "in the long run".In Probability theory there are only two certainties .Zero% and 100 %-and roulette is neither.It may be true that you are unlikely to win in the long run but the guys who gave us the banking crises ( plural ) will testify- the extremely unlikely can , and does occur.
In any case, when mathematicians talk of the long run they are thinking in terms of"towards infinity" and since no one lives till infinity why give it a thought?
The odds against us in roulette are 2.7% .Could casinos exist on a 2.7% profit margin let alone build new ones?.So let us consider the odds against us when betting and forget the advice from self appointed experts that it"is only a matter of luck ".This encourages bettors to ignore the odds on offer.Not a wise thin to do in any betting environment.
And "the best of luck"!!!

[KasinoKing]

The odds against us in roulette are 2.7% .Could casinos exist on a 2.7% profit margin let alone build new ones?

Absolutely!
Their profit margin isn't 2.7% - it's MUCH higher than that!
2.7% is just the House Edge on the game:
A player places $100 worth of bets - on average he will lose 2.7% of his money ($2,70).
But how many players do that & stop? Not a lot, I can tell you.
So he bets again, loses 2.7% again, bets again, loses agian... you get the picture!
In the majority of cases the player will lose his entire $100 = 100% to the house.

Owning a roulette wheel is like having a licence to print money - and the same goes for all the other games in the casinos too.
OK some people will win & walk away, but most will not.
The whole of Las Vegas was built on tiny percentages like that!

KK

[scepticus]

Hi KasinoKing
I take your point about the accumulation of all the 2.7% s though am not convinced about your certainty.
The point I was trying to get across was that punters get all hung up on the 2.7% disadvantage ,consider roulette as unbeatable and "all a matter of luck ,so don't consider the odds on offer.It's this viewpoint I seek to change.
If punters bet according to the arithmetic they would lose less than they do by betting the Martingale,Labouchere etc..
Nor am convinced that the 2.7% disadvantage cannot be overcome.As I have said previously the punter may lose in the long run but that does NOT mean hat he will lose the 2.7% in every 100 bets-or 1000 bets.No one knows for certain because Probability Theory is just that - a theory.We need to guess where the ball is likely to land and,precisely because each spin is random no one can tell where it will land- or where it won't land.
Probability Theory is a guide but not an infallible one.
So ,for that reason, it cannot be certain that the punter WILL lose his bankroll in the long run .It is possible that he will, and also possible that he will lose it before his 100 bets.It's punter's greed that provides the casinos with their big profits not the 2.7%
Well, that's my view anyway.

[KasinoKing]

It's punter's greed that provides the casinos with their big profits not the 2.7%
Well, that's my view anyway.

Yes & No.
The house edge does guarantee the casino always wins in the long run - it's simple mathematics.
But you are also right that people's greed means the casino makes their profit faster!

Recently I've been falling into the trap of trying to win too fast -and it's cost me badly the last couple of months...
But before that I made profit from online casinos for 10 straight years by being more disciplined & controlled.
Not rocket science - just taking bonuses, playing sensibly and cashing out when I met WR with a profit.
I have month by month logs of all my casino bonus play since 2001, which can be viewed here.
Things are definitely getting harder (higher WRs), but there is still money to be made online for sure, if you have the patience.

KK