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Doubling down, also called a martingale strategy. This was awesome while it lasted. I used this while playing with dogecoin, the trouble started when I automate
by amingilani 9y ago
Doubling down, also called a martingale strategy. This was awesome while it lasted. I used this while playing with dogecoin, the trouble started when I automated it using a script.
Trouble is, even when the chance of losing is 0.25%, you'll lost once every 400 games.
And at one point, the loss will be greater than all the money you had.. and there's no coming back from that.
- csomar 9y agoHe said 75% chance, so odds are against you.
- amingilani 9y agoActually, he meant a 75% chance of winning.. Given the chance of winning a round is p=0.5, the chance of losing is q = 1 - p = 0.5 If you've lost the first round, the odds of you twice in a row are q = 0.5^(2 rounds) = 0.25 Which means the odds of you winning are p = 1 - q = 1 - 0.25 = 0.75.
- 0x8BADF00D 9y agoRight, but the expected value of the gamble is negative.
- dfinch 9y agoExpected value is 0, right? .75 * 10000 - .25 * 30000