I've had a few bets on the horses today, so I'll try your system out for fun and let you know how it's worked out after the last race
Someone told me a similar one, but instead of backing 2nd favourites you back 33/1 shots, now that would be big bucks if it came in
In your casino scenario, it is a foolproof way of winning but again very risky as if you lose five on the trot your into big money and as you say it will only work if the casino haven't cottoned onto you.
A couple of friends tried it once and placed alternate bets from opposite sides of the table, but still got sussed.
If you'd have used this system yesterday you'd have been £2074 in profit unfortunately though, you would have had to have had bollox the size of footballs to have gone through with it because the 2nd fav didn't win any of the first 9 races and you would've had to have been £1536 down before the first 2nd favourite won, another problem though there were two 2nd favs in that race so you would have had to have split the stake between the two!
The 2nd favs won the 2 last races so although you would have been in profit would you have had the balls to go through with it? Nice profit though-maybe you could try it and start off with 10p instead of A £1!