Worthless Betting Method (or system) Selling Fraud

1. 'A proven method to beat online casino' or 'a guaranteed get-rich-quickly betting system', '$39.95, the method (or system) is yours', maybe you see these ads in websites or junk emails.

2. If the method is really useful, why the method sellers don't win huge money for themselves, but sell the method for small money to others?

3. Possibility 1: After you send them money, you never hear from them again.

4. Possibility 2: A method system software with spyware, or a bogus gambling website link, is sent to you, in order to obtain your personal information.

5. Possibility 3: There is no guarantee that the online gambling websites are designed to be fair.

6. Possibility 4: You received the 'mathematically sound method', but it doesn't work in practice.

7. A worthless 'mathematically sound method' sample:

Martingale: In the red/black roulette, a gambler doubles his bet after every loss.

For example: if a player starts at $1, loses next four bets and wins the fifth. He loses 1+2+4+8=$15 and wins $16, so the profit is $1. Therefore, theoretically a player with infinite wealth will win eventually.

However, two problems are to be considered.

First problem:  In fact, no players possess infinite wealth, so the exponential growth bet will eventually bankrupt them.

Second problem: As you play more and more to double your bankroll, the probability of loss in a row increases rapidly.

For example: To double the bankroll of $6300 with the initial bet of $100, the player needs to play 126 rounds on average.

The probability of loss in a row 6 times in 126 rounds is 1-0.978744 x (1-0.010069)^126. It is more than 72%.