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Old 07-24-2005, 06:16 PM
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Default Re: allowing your opponent to martingale you

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I didn't hear an answer.

>>>>Why do casinos have a maximum bet limit on EVERY game they offer?<<<<<

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For starters, not every casino has fixed limits, but your point is taken.

"Most" casinos have fixed limits to prevent martingaling. Martingale theory is based upon the likelihood of infinite betting limit. When the betting limit is finite and the net expectation on every bet is negative, then the Martingale system falls apart like a trailer park in a tornado.

Epstein has whole sections of his book on this and related systems in "The Theory of Gambling and Statistical Logic."
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