- Report: #1008142
Report - Rebuttal - Arbitrate
Complaint Review: instantincomesystem.com
instantincomesystem.comnot available Internet United States of America
instantincomesystem.com Chris Scott This is a gambling system which is claimed to work but does not. Internet
The Instant Income System claims it can generate an income for you of 4,000 per week, upwards. Basically it is a gambling system that could never work. The site encourages you to log onto online casinos like William Hill with a starting kitty of at least 50. You then play European Roulette and bet on either red or black. If you lose you are told to double your bet and if you lose again you simple re-double the bet, and keep re-doubling your bet until you win!
The Instant Income System tries to convince you of the following maths. If say on a starting bet of 1 you lose three time betting on red but then win on the fourth time you will have spent the following amount on bets assuming you doubled each time, 1 + 2 + 4 + 8 = 15. However because you bet 8 on the last spin you would have got 16 back giving you a profit of 1.
This might sound quite convincing at first but what the Instant Income System doesn't tell you is that there is a 1/16 chance you will lose four spins in a row, a 1/32 chance you will lose five spins and a 1/64 chance you will lose six spins in a row. After losing six spins your doubled bet will now be 64 and you are still not guaranteed to win your money back. If you lose on the next spin your doubled bet will now be 128 and such a situation will definitely occur after 128 spins each and every time, on average. And don't forget you will be betting 128 just to make a profit of 1 net!
It is clear that if you only started with 50 or 100 you could lose that money quite quickly.
I couldn't help wondering if an employee of one of these online casinos was responsible for writing the webpage himself. The site is accompanied by a number of positive reviews saying how good the system is and what people spent their winnings on but I can't believe these reviews are genuine.
This report was posted on Ripoff Report on 02/03/2013 08:00 AM and is a permanent record located here: http://www.ripoffreport.com/r/instantincomesystemcom/internet/instantincomesystemcom-Chris-Scott-This-is-a-gambling-system-which-is-claimed-to-work-but-1008142. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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