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Martingale (betting system) (en.wikipedia.org)

submitted 4 hours ago* (last edited 3 hours ago) by cm0002@lemdro.id to c/wikipedia@sh.itjust.works

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A martingale is a class of betting strategies that originated from and were popular in 18th-century France. The simplest of these strategies was designed for a game in which the gambler wins the stake if a coin comes up heads and loses if it comes up tails. The strategy had the gambler double the bet after every loss, so that the first win would recover all previous losses plus win a profit equal to the original stake. Thus the strategy bears similarities to the St. Petersburg paradox.

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[–] dick_fineman@discuss.online 1 points 3 hours ago* (last edited 3 hours ago)

Yeah I lost about $1300 on roulette with this system. Works great in simulations...not so great at the table.