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Martingale (betting system)
Gambling strategy where the amount is raised until a person wins or becomes insolvent
Martingale (betting system)
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. The martingale strategy has also been applied to roulette, as the probability of hitting either red or black is close to 50%.
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