The $1 Bet
Make money as long as you have money in python
Lets play a game
Say you were betting on a coin flip and you can control how much you want to bet? If you bet $1 and win, bet another one (DJ Khaled swag) for another coin flip. If you keep winning, well go buy a lotto ticket…
If you lose, bet the amount you would need to make your money back and $1 so you always have the outcome of winning $1 or getting deeper in the honey pot.
Sounds good right? Yea! If you ever go negative, keeping upping your bet. You will have a 50% chance of going back positive. You bet $1, lose, bet $3, lose, bet $5, win?, great you have won a dollar with no skill :(
What are the odds you keep going negative?
How would you do? Here is a link to Jupyter Notebook. Play along, or follow the code used for this project. Also check out other projects on my Github!
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Here is a walk through what is going on
As you can see, when there is a 50% chance of winning, you really only have you really don’t have much of a gain. You get up to $75 and what looks like $42 and right back to $51 so pretty good at times.
Really if kept going and tried a million bets?
Woah, is something going on here? We got up to over $60000 starting with only $50! We did reach -$20000 but only for one bet cycle! If you have enough funds, this would work right?
If you want some better odds and need to make bank, think of something that is perceived as 50%, but really you have a leg up.
If we increased our odds to 60%, we still do pretty good. I think we get the same conclusion that you fall in a hole, but get pulled out of it fast.
Of course this is a terrible strategy. If you made it this far, “You Played Yourself”. Interesting idea though right?