The Ascot strategy is an old-time roulette system for use on even bets, that is bets that pay one for one. Odds / evens, 1 through 18/19 through 36, and red / black pay even money at the roulette table. The Ascot system can be used for other casino games which have even money bets also, such as pass / do not pass at craps, and banker / player at baccarat.
To set up the Ascot system write down a series of numbers. You can make up any series you want, but it's easier if you pick an odd number of numbers. For example 2, 3, 5, 8, 13, 20, 30. Place your even money bet on the middle number in the series. In this example your first bet would be eight units. If you win, step up to the next bet in the series. If you lose go down one step for your next bet. When you've won the highest number in the series or lost the lowest number, stop the series and start over. It's that simple.
This method should enable you to play for a long period of time betting with a relatively small amount of money. On the negative side, any series that requires you to lower your bet substantially when you lose will cost you a lot of money if wins and losses alternate at the higher bet levels. In the example here, you would lose at 20, win at 13, lose at 20 and so forth. Not a surefire way toward profitability.
Here's a series of wins and losses I actually experienced at mini-baccarat at Caesar's in Atlantic City. Use the Ascot betting schedule above and calculate whether I had a profit or loss. (The answer's below.) You can use the same set of results to evaluate any Ascot series of your choice.
This series contains 35 wins and 35 losses. Ignore whether the bets are banker (on which you pay a commission if you win) or player, and just assume even money bets.
Answer: Overall loss of 11 units. At the worst you would have been down 38 units and at best, up 115.