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[challenge entry] You can make one million quid by just 20 2:1 bets

From the 100% Fact challenge. See all 469 entries (closed)

(, Fri 24 Oct 2003, 14:41, archived)
# you could also make it quickly with 3 100:1 bets
(, Fri 24 Oct 2003, 14:43, archived)
# or one 1,000,000:1 bet?
(, Fri 24 Oct 2003, 14:44, archived)
# now now, no need to be ridiculous
:)
i was thinking it myself, though
(, Fri 24 Oct 2003, 14:44, archived)
# am i being thick?
aren't they all equally likely to happen?
(, Fri 24 Oct 2003, 14:47, archived)
# hmmmm
good question in probability.
i will look into that. on the surface, though you're probably right. i was just being facetious.
(, Fri 24 Oct 2003, 14:49, archived)
# or reply to your
spam!
(, Fri 24 Oct 2003, 14:46, archived)
# Dear Sir
I am writing to you on behalf.... South african.... bank account....
(, Fri 24 Oct 2003, 14:48, archived)
# How about 50p
on a 2000000:1 bet?
(, Fri 24 Oct 2003, 14:49, archived)
# only if you win all of them
(, Fri 24 Oct 2003, 14:44, archived)
# that's what's called an accumulator
and they never work, until they do and you never need to work again
(, Fri 24 Oct 2003, 14:45, archived)
# you can make them work if
you only place the bet after you have the winning. then you can control it.
(, Fri 24 Oct 2003, 14:46, archived)
# But there's only
a 1 in 1048576 chance of winning all of them
(, Fri 24 Oct 2003, 14:51, archived)
# more chance than the lottery to win money
.
(, Fri 24 Oct 2003, 14:55, archived)
# So long as
you have a backlog of some cash you can afford to lose some of the steps at least once... thereby increasing the probability of being successful.

It's clever really. I've heard casino's chuck you out if they spot you trying it though.
(, Fri 24 Oct 2003, 15:03, archived)
# But how much...
Do you stake?
(, Fri 24 Oct 2003, 14:45, archived)
# £1
(, Fri 24 Oct 2003, 14:48, archived)