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Author Topic: The intriguing nature of roulette system sellers/scammers  (Read 296 times)

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thomasleor

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The intriguing nature of roulette system sellers/scammers
« on: September 25, 2017, 10:31:50 AM »

System selling Scammers like Charles mentioned in another thread are a dime a dozen. But sometimes it is not always a question about a scam. It can easily be a question of mathematical ignorance.

Many years ago I used to know this kind looking, rich and extremely intelligent professor in economics in Sweden. He had won a certain fame for having authored a book about implementing Point and Figure Charting in the Stock and Options Market. That gave him a good social network in the higher echelons of the Scandinavian Market.

The thing though was that when this guy went into pension, he started spending a lot of time with his hobby which was roulette. He developed many Land-based systems, but all of them dealt with street betting with various degrees of point and figure implementation on the bet signal.

He made many travels down to Bad Homurg, Wiesbaden, Travemunde, Baden Baden and some other German Casinos and soon enough became a well-known visitor and esteemed client to the VIP Managers of said Casinos.

The thing though was that he also got to know new players and started to sell his various systems at a really juicy price of 50,000€ a pop. All backed up by his past title and book of course as evidence of his seriousness. Once when I sat at his mansion and tasted one of his homemade Ceasar salads, a "client" arrived and joined us. It was quite a wealthy man and owner of several large luxury restaurants in Stockholm.

Sitting there munching my salad I saw this well-dressed fine mannered professor pitching this guy on his latest system at a price close to 75,000€. The guy loved roulette and listened like a child listening to his daddy telling a story before sleep. After an hour they rose up and the professor told me its time to pay a visit to the Casino Cosmopol (a luxurious one in Central Stockholm) and show the client how the system was implemented.

The thing was though that I had paid him a visit to explain to him that his system could not work on a sufficiently long set of bets due to variance problems.

As his client went out to the large mansion parking, the professor turned around and answered: "Very true, but the client can never prove that mathematically in order to get his money back."

I asked him why he did this. He certainly didn´t need the money as he was very well situated. He responded that Roulette was his passion and selling systems just was a way to verify his own inventiveness in this area, not to forget he finished as we walked to our cars, he had discovered the pricier he made the systems he sold to his rich clients the more eager they were to buy them considering he was a well-respected name in the finance industry.

It taught me a lesson that in this business sometimes money is not the only reason certain people choose to sell "systems", it is also a way to verify your own assumed ingenuity.

Consequently one could say that this grey area business is not always about shameless greed in some of its peddlers, but also incurable intellectual vanity in others.

« Last Edit: September 25, 2017, 10:48:29 AM by thomasleor »


 

MickyP

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Re: The intriguing nature of roulette system sellers/scammers
« Reply #1 on: November 11, 2017, 10:32:45 AM »
An interesting observation I must say. Human nature can be likened to roulette; so simple yet so very complicated.
 
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kav

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Re: The intriguing nature of roulette system sellers/scammers
« Reply #2 on: November 11, 2017, 01:04:01 PM »
This is not a very recent topic, but Micky you did good to read and reply to it.
There are too many diamonds hidden in the older posts. I encourage people to read and reply to older topics so they get bumped up and read by those who missed them.
Most of the content here is evergreen.
 
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MrPerfect.

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Re: The intriguing nature of roulette system sellers/scammers
« Reply #3 on: November 16, 2017, 11:50:12 AM »
Scammers! They make people distrust others working in roulette seriously.  Because of them real work become much more difficult.
  Shame on them.
« Last Edit: November 16, 2017, 03:10:12 PM by kav »