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A Statistical Analysis Of The Roulette Martingale System: Examples, Formulas And Simulations With R, Peter Pflaumer
A Statistical Analysis Of The Roulette Martingale System: Examples, Formulas And Simulations With R, Peter Pflaumer
International Conference on Gambling & Risk Taking
Some gamblers use a martingale or doubling strategy as a way of improving their chances of winning. This paper derives important formulas for the martingale strategy, such as the distribution, the expected value, the standard deviation of the profit, the risk of a loss or the expected bet of one or multiple martingale rounds. A computer simulation study with R of the doubling strategy is presented. The results of doubling to gambling with a constant sized bet on simple chances (red or black numbers, even or odd numbers, and low (1 – 18) or high (19 – 36) numbers) and …