4 ms·
Just not true. Let's say I do a bet of 1 dollar, and I have 50% chance of winning, and I can make 1000 bets every day. If start with 100 dollars it is much mor
by aurelianito 9y ago
Just not true. Let's say I do a bet of 1 dollar, and I have 50% chance of winning, and I can make 1000 bets every day. If start with 100 dollars it is much more likely to die with a lot of money than broke.
- dvt 9y ago@dragonwriter is right, because we're talking about infinities. There is some non-zero chance you'll flip a coin heads 10,000 times in a row. In an infinite amount of time, that series of events is guaranteed to happen at some point (Poincaré makes sure of that, although it might take billions or trillions of years).
- gerard 9y agoYou've defined a fair game [1], one which you're just as likely to win or lose, by the same amount each time. Clearly neither side of this game has an advantage over the other, for any given coin toss. But you expect that long term it will work in your favour? [1] technically it's a martingale https://en.wikipedia.org/wiki/Martingale_(probability_theory) https://en.wikipedia.org/wiki/Martingale_(probability_theory...