Re: A Less Obvious Martingale Fallacy
Correct.
I posted this same idea in the Probabilty Forum for the case where bet sizes remain constant but players with finite bankroll bust out due to variance. The difference here is that average bet sizes increase over time and the Cosmic Casino makes EVEN MORE MONEY on average over time because of it. It makes no difference whether bet sizes increase at random or due to long losing streaks.
PairTheBoard
|