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If you’ve lost 8 times in a row, you’re actually now betting 256x your original bet.
It’s NOT a good strategy. Statistically it doesn’t by any means whatsoever ensure you’ll end up net positive.
It’s called “Oscar’s Grind” and there is a plethora of mathematics that show it is does not beat the house.
It is called the Martingale system.
Oscars grind works in a completely different fashion, and you do not raise your bet when you lose.
Thank you for this. I knew how the strategy plays but not the name.