I've been playing around with a Roulette Simulator investigating how different stake sizes and strategies can affect outcomes.
The strategy I was using was doubling your stake every time you lose this covering your losses and doubling your initial stake whenever you win.
Playing 1000 games, initial stake \$10, starting pot \$20,000, target end pot: \$40,000
American: (0 and 00): Won 183 out of 1000
European: (only 0): Won 271 out of 1000
Never going to happen (no 0 or 00): Won 475 out of 1000
I was surprised that even if the house took nothing (i.e. no 0 or 00 slot) you can still only double your money every other time.
I was surprised by this. To lose your pot you need to get a long line of odd numbers. surely the chance of getting odd many times in a row is much less than 1 out of 2?
Can someone explain how the probability works here?