Originally Posted by
ichiro4thehall
I don't doubt your word buddy or that you have worked in finance but 'virtually impossible' happens all the time if you bet enough.
I was hoping OP was just interested in a simple probability answer to the chances of his great run.
I worry though that he is all of us at one stage and thinks some staking plan he has read about or worked out himself is going to make him a millionaire.
I saw this as someone at college studying statistics at the time who took his rent money to the casino, watched roulette tables, and when one roulette table had a run of 3 blacks or reds I'd start a martingale naively believing it must hit the opposite colour within the next 3 or 4 spins. I actually won a bit these times. But a few years later at a casino drunk, my friend watched a table and said he saw 9 reds in a row. I immediately sat down and bet black on the 10th spin, i bet black the next 6 spins and busted out when the 16th red in a row hit. Obv the 17th spin was black.
And believe it or not I make most of my money gambling, and have done for 20 years. The one thing I've learned is that variance is the cruelest bitch in the world. She makes you doubt your sanity, I honestly don't think any mathematics professor even understands variance if they have never bet or invested a lot. The theory is so far from reality it's indescribable.