I have a friend who is playing a roulette system online.
Basically he bets 1 dollar on either red or black and if he loses he bets 3, 5, 10 and so forth. When he wins he bets 1 dollar again.
I have 3 questions:
1. Is this illegal?
2. What is the chances of missing 7 times in a row?
3. Do you think its profitable given a 100 dollar max bet?