One way to increase the odds of winning while having more fun is to start betting in a way that is called positive progression.
Rather than give a textbook definition we are going to give a real example.
Positive Progression Example
Jared is an avid online gambler. He likes to play while commuting on the train to work, and is generally up somewhere between $10-50 each morning, with an average monthly gain of $450, which pays his train fare, plus lunch.
Jared likes to play The Big Wheel, Roulette, and Blackjack. Why? Because the first two have near-even odds on some bets, and Blackjack because it’s fun, and good as a mental exercise.
Let’s go to the Roulette table. Jared places a $1 bet on BLACK. If it comes up BLACK he places another $1 bet. When it doesn’t is where the strategy comes in.
When Jared loses he doesn’t place another $1 bet. He then places a $2 one. If that loses it goes to $4, $8, $16, and so on.
No matter where Jared wins he will be up another $1. Generally speaking, he doesn’t lose more than three times in a row, but he could, which is the very real risk with this betting system.
It’s Going to Take Guts
This betting system – positive progression – can take quite a few rounds to come around. Just as Jared will sometimes have bet $15 (1+2+4+8) just to get another $1, it is totally possible to have to place ten bets, which would mean placing a $512 bet in order to win a single dollar!
And you might not even win that bet. Statistically speaking, you ought to, but it could come up the wrong way again.
Don’t Forget That Luck Matters
Lady Luck is a fickle one. She can grant you five-hundred wins in a row, leaving you with a feeling of invincibility. However, with such numbers it is also possible to lose just as grandly.
This is why if you find yourself having sustained an unusual number of losses in one direction it is time to change tactics, or even change the game. In fact, Jared – the commuter who supplements his income to the tune of more than $5,000 a year – says that if he loses five times in a row he calls it a day.
The reason is because it’s outside of what he calls statistical probability, and that kind of volatility isn’t worth playing against.
Gambling really is a great hobby. Not only does it exercise the mind, but it can also lead to some healthy winnings. If you’re going to gamble, you should at least try positive progression. Even if only one time.
