12/5/2023 0 Comments Simple roulette ganbling![]() ![]() The martingale system is one such strategy: a simple betting that recommends doubling the value bet with each loss. But at a certain point it's useful to analyze simple toy strategies and discover their extreme properties. There are good reasons for this: analysis of betting strategies requires an understanding of simulation, which might be too advanced for an intro probability course. Unfortunately, the games studied are often simplified and betting strategies are constrained. This usually seems contrived, when in fact games of chance have been central to the development of probability and statistics. A student of probability is practically guaranteed to see games of chance during their studies - coin flipping, card drawing, dice games.
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