Martingale: The Mathematics of Being Too Rich To Lose
How to sure-win in a casino: be already rich when you first set foot inside. Did you know that if you double your bet every time you lose, you will eventually win? And I mean net-net win. Because when that win eventually comes, it doesn’t just cover your latest bet. It pays back every loss that came before it, with a profit left over. The maths checks out. Read on as B explains. What is Martingale? In a hypothetical situation, B has opened a casino. There is only 1 game here: the humble coin flip — heads or tails. Bet $1 and win? You walk away with $2 —...