i have read on an internet site that according to statistical law of large numbers (serious) that progression betting cannot work.
this is interesting in view of the books and systems sold suggesting that it does. has anyone experienced success from this type of betting. |
Topsy99,
If by progression betting you mean increasing your bet after each loss until you hit a winner then the web site is correct - it will not work in the long run. As has been discussed here many times before it does tend to show profits in the short term but these are wiped out by the inevitable huge loss when you strike an extended run of losses. The reason people sell books/systems based on this is: 1. You will never make money in long run using such a system so selling it is the only way to make money 2. Because it can generate impressive short term results you can use these results to show how great your system is to the mugs buying it NEVER, EVER buy a system based on increasing bet size on losses. Only systems/methods worth using are those that show a reasonable profit AT LEVEL STAKES. |
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