This can be pretty easily simulated - say I've walked in with $1000, and I'm going to play until I double it, or lose it all. Bets with long odds and larger payouts, may in fact have a lower house edge than the average walk of repeated play necessary to get to that same payout on 1:1 odds.By escalating bet sizes, you have a small chance of breaking even, well and truly offset by a much bigger chance of financial ruin.There are two ways out of this inevitability: Intuitively, this is because once you've lost enough spins, no number of spins is likely to get back to where you started. In a bet on black or red in double-zero Roulette, it may be surprising to hear that the odds that you will ever win 100 spins more than you lose is less than 1%, no matter how many times you can afford to spin.

The mathematics of a random walk have some surprising effects on your odds of winning any 'significant' amount relative to your average bet, caused by repeated betting of winnings. When facing any significant edge, 1:1 bets are pretty terrible. The problem is, there's a degree of truth to this for them, because a player who doesn't know basic strategy is not facing low edge on their main hand.

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