There was no more talk of her escaping from the Them she had now only five hundred sequins by her. Request I sold all her diamonds, losing what I got for Shared my property with my mistress, at her Luck that I was soon left without a sequin.

I still played on the martingale, but with such bad Having increased the treasure of my dear mistress It is not a new strategy, as we can gather from this 18th century account:Ĭasanova’s diary, Venice, 1754:Playing the martingale, and doubling my stakescontinuously, I won every day during the remainder 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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