Casino systems doesn't work in the long run

The most common money machine have to be the classical "double your money" - system.
You bet on one color on the roulette table. If you win you bet the same amount of money again. If you loose you double the bet.


For example:



You win
You bet $1 on black. If you win you get $2. Next round you put in another $1.



You loose

If you loose you double the bet. In this example you bet 2$ if you lost the first dollar. If you loose again you bet $4.

As long as you don't loose more than a few times in a row this system really work. But when (not if) you loose 12 times in a row you have to bet $8192 not to loose the all your investment. If you loose that 13th time your total loss is $16383 (1+2+4+8+16+32+64+128+256+512+1024+2048+4096+8192 ).

If your initial bet was $10 your loss in the example would have been $163830.