《Other People's Money》的笔记-第1页
- 页码：第1页 2018-01-28 00:44:13
The martingale if a betting strategy which responds to every loss with a larger bet. Imagine a 'fair' gamble in which you stake $5 to win $10 for a head, and nothing on a tail. If you win, you walk away with $5 profit, The martingale proposes that if you lose, you should bet $10 on the next throw of the coin. If you win, you will now gain $20, recover the $15 and walk away with $5. If you lose, you repeat the strategy.
The game is certain to be profitable if you play for sufficiently long, but if you play it regularly, you will eventually be ruined.
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