Why won’t doubling loss work at the casino?

Because the math doesn’t work, you lose X in a row before you profit whatever the Max loss.

Say you’re using the numbers you gave, if you bet 5\$ and doubled after every loss you will reach and lose the \$635 max loss more frequently than you profit 635\$ to cover a potential max loss.

I use 635 because 5+10+20+40+80+160+320 would be the highest you could reach at a 500\$ max bet table.

635/5 = 127

So it would take 127 hands to profit enough to cover your max loss.

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/*# sourceMappingURL=https://www.redditstatic.com/desktop2x/chunkCSS/IdCard.af35ed1d6aab125b9408.css.map*/Over 127 hands you are more likely to lose 7 in a row at some point then you are to get through all 127 without a streak of 7. Chances of losing 7 hands in a row is 1 in 90.

Just look at this for fun:

https://www.random.org/coins/?num=127&cur=60-usd.0050c

Click flip again at the bottom and see how many times you have a streak of 7 in the results. It’s way more often than not.