The Paroli Betting System Explained
The Paroli betting system is an interesting system, and quite a versatile one at that. Having been commonly applied to the 16th Century card game named Basset, it soon became apparent that the system was quite effective when applied to the games of Roulette and Baccarat too. As a matter of fact, the Paroli system works for all games based on even odds bets – thus including games such as Sic Bo, Craps and Pai Gow Poker into the spectrum.
The Paroli system is implemented by simply doubling up the wager after each win, until such time as three consecutive wins have taken place. If no win is achieved at first, the player will continue to “flat bet” – a single unit wagered on an even money outcome, until such time as a win takes place. The size of the wager isn’t altered at all during flat betting.
Upping The Ante
As soon as the single unit has yielded a positive outcome and achieved a win, the size of the bet will be doubled up for the next round. However, in the event that the next round ends in a loss, the size of the bet will be decreased to match the size of the initial bet. By the same token, if the round yields a win, the bet will once again be doubled when entering into the final bet of the progression.
A System Based On Fallacy?
When examining the logic behind the Paroli system, one cannot help but notice that it is based largely on the gambler’s fallacy. The logic driving the system dictates that wins and losses come and go in streaks. The gambler’s fallacy seeks to debunk the theory that any event can have any effect on a future event. For example: a player may refrain from placing a an additional bet on the chance that a perfect Blackjack may fall, in the event of that having happened during the previous round of a game of Blackjack. The premise for the decision not to repeat the bet, being that it would be “too good to be true” if it were to happen again.
Mathematically speaking, this kind of thinking is inherently flawed and there is no “reason” for the probability of another perfect Blackjack being diminished simply because it has occurred in the preceding round.
When considering the logic of the matter, there is in effect no such thing as a “streak” – thus completely disqualifying the Paroli system as a viable strategy.
On the other hand, gambler’s fallacy or no, the Paroli system has been implemented successfully for too long a period to be ignored.
Counting The Cost
Those familiar with basic gambling strategies will have noticed by now that the Paroli system is the exact opposite of the Martingale betting system – which involves doubling up on the bet after every loss. The Martingale has been dubbed a potentially perilous system, with players risking losing entire bankrolls should the tables fail to turn. The Paroli betting system, on the other hand, isn’t nearly as risky – with bets not flying into the abyss at quite the pace of the Martingale whenever a round is lost.
It is therefore, in a sense, a more conservative strategy – something that appeals to many players, especially newbie’s still trying to learn the ropes.
Relatively Low Input
The Paroli betting system is a favourite among bettors for many reasons – the most attractive of these being the lower risk as a result of playing with the casino’s money half of the time. After the first win in the progression, the player will simply leave the original bet, plus the winnings (being the value of the bet, matched) on the table. Should a subsequent win take place, the casino will once again match the bet on the table – the total tally now being four units strong. By the end of a three-win progression, a player would have turned one unit into eight units – a very small investment yielding a handsome return!