full maximum on each chance, and then retire, whether winners or losers, they would then have given the bank the least possible advantage, as they would have subjected themselves to the chances of the zero appearing the least possible number of times. As, however, almost every player wishes to have as long a run for his money as possible, almost all players, whether playing by a so-called system or not, divide their stakes, whether made on an increasing or on a decreasing scale, or haphazard, into a number of comparatively small stakes, so as to stay in the game as long as possible, with the result that the bank's percentage is constantly working against them. The thinner they spread out their money, and the longer they stay in the game, the greater are the chances of their losing their money.
If you go into the stock-market and buy the first stock your eye happens to catch on the list, you at least stand an even chance of its going up or down, while your brokerage and stamp charges will not amount to the 1.66 per cent, charged as brokerage by the Casino; whereas in the stock market the action will be comparatively slow, at Monte Carlo the brokerage charge is approximately 1.66 per minute. If fifty coups are played per hour, it means that as brokerage the bank each hour absorbs 83 per cent, of all the money staked for one coup, while each day the bank takes for its commission for permitting you to play there, about ten times the average amount staked on the table at any one time. As Sir Hiram Maxim says, the martingale is the least defective of all the systems. Were there no limit and no zero, this system of 1, 2, 4, 8, 16, 32, etc. must infallibly win, as, whenever a gain is made, no matter how many previous losses there have been, it
