While the term may not be well known and perhaps even coined here, compound statistics relate the notion that statistics remain constant. In doing so, compounding the affect over time or a recurrence of happenstance, occurrences remain constant.

This frustrates statisticians. While the argument prevails that choosing black vs. red on a roulette table is a 50 50 chance, each spin of the wheel remains constant. However, compounding this process argues that as the number of spins increases, the constant remains that each color remains constant to an eventuality that a 50 50 margin will be an eventuality. While the reality exists that each spin remains constant at a 50 50, in 10 spins, half should come up black vs. red and in 100 spins half should come up black vs. red.

While it is understandable that a statistician has a difficult time wrapping their head around this, they need only look at the constant or resulting reality of multiplied results, or compound statistics.

So, if this is a reality, how do you approach playing a game of roulette?

The simplest and smartest way, bet small, double down if you lose and outlast the table.

It is not hard, can not be argued and is the main reason casinos limit the bet on tables. If you do this at a casino, be sure to know, you will be watched. (It can be applied to other games, but those often have emotion involved, that tends to lead to mistakes).

Ex. For Roulette.
The table spins a black – you enter
Bet Red – $10 you lose
Bet $20 (if you win you’re up 10) (if you lose)
Bet $40 (if you win you’re up 10) (if you lose)
Bet $80 (If you win you’re up 10) (if you lose)
Bet $160 (if you win you’re up 10) (if you lose)
Bet $320 (if you win you’re up 10) (if you lose)
Bet $640 (if you win you’re up 10) (if you lose)

This is nothing new. Pit bosses are well aware of this and it’s most commonly and simply known as doubling down but the pattern can probably be best referred to as compound statistics. The term can probably be used in a vast array of applications. For now, we’ll simply use it to enjoy the benefits of playing roulette.

PS: I don’t think I’ve ever experienced a table go beyond eight spins. Although, I have experienced a pit boss with a glaring enough look to encourage me to leave before I knew I wasn’t going to be allowed back. Just remember, if you bet big and win big, you won’t be allowed back. Enjoy and have fun. Don’t be greedy.