This system is named after a player who was known as Oscar who played in the 1950s and 1960s. The Oscar's Grind System is mentioned in Allan Wilson's "The Casino Gambler’s Guide" which was published in 1965. Oscar was a Craps-player first and foremost and kept meticulous records of his betting. Allan Wilson found these records and tested the system on an IBM 790 mainframe computer. He tested simulated 280,000 rounds and they showed that Oscar had been correct. Although Oscar himself had a great deal of luck on his side, it turned out that his system actually worked and allowed you to win.
The system is as follows: the player bets one unit (a unit can be $1, $5 or $100 or any figure) in a sequence of bets. When the players wins, the sequence ends and a new one begins. If the player loses he/she continues to place the same bet as before. If the player wins, the next bet should be one unit larger than the previous round. If the player has made a net profit after that round, he/she should only bet enough to put him/her one unit ahead at the next round.
Here is a typical betting sequence, with $1 as one unit. A unit can, of course, consist of any amount.
1. Bet $1 and lose: - $1
2. Bet $1 and win: $0
3. Bet $1 and lose: -$1
4. Bet $1 and lose: -$2
5. Bet $1 and lose: -$3
6. Bet $1 and win: -$2
7. Bet $2 and win: $0
8. Bet $1 and lose: -$1
9. Bet $1 and win: $0
10. Bet $1 and win: +$1
The player starts with a loss so his second stake remains at one unit. This bet is won, putting him back to even. Because he is only seeking a one-unit win for the progression, he does not escalate his bet to two units. Bets 3 through 5 are losses so he stays with a one-unit stake. After the sixth bet wins, he now increases his stake to two units. The seventh bet also wins, but again he only needs a one unit bet to win the sequence. The eighth bet loses so the ninth stake is one unit. Finally, the tenth bet wins and the player wins the entire progression.
By keeping the size of your bets fairly low, this system is relatively easy on your capital.