How do you explain Martingale to someone who doesn\'t understand EV?
I'm having an argument with some people who claim that Martingale works, in theory, if you have an infinite bankroll. I'm trying to explain to them that because each bet has -EV, it doesn't matter how much money you have, you're still doomed to failure. (I'm correct, right? They have me doubting myself)
However, they're clueless about what EV means, so I can't argue this way. How do I explain why it doesn't work without using EV?
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