Re: A Less Obvious Martingale Fallacy
Assuming the game is not biased, and the wager is close to 50-50, Baccarat or the pass line for example, there does exist a number of series where the probability of failure approaches a theoretical zero. Assume the game was fair, and I could play a progression that lasted for 1000 trials -- I would be quite comfortable playing for a lifetime. Because my confidence limits would be affected by my life expectancy, I would probably be happy, rich, and comfortable with a great many fewer. The casino would certainly have the advantage in the game you describe -- but they would probably want to take their lifetime (or quarterly earnings) into account as well.
SheetWise
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