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

submitted 1 month ago* (last edited 1 month 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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[–] Tar_alcaran@sh.itjust.works 2 points 1 month ago* (last edited 1 month ago)

This is why the tables have a 0 (and sometimes a 00). The house has an edge on roulette. Betting Even/Odd or Black/Red (EDIT: Or High/Low) has a an 18/37 or 18/38 chance of winning, not 1/2.