Quote from: james on July 30, 2016, 08:04:30 PM
I respect the opinions of GR8 and B_A that some progressions can make money in a negative expectation game.
If you google, you will find equations by mathematicians why progressions will not work in a negative expectation game. If you can prove mathematically to the contrary, you will get accolades from mathematicians, but you will not see any money. There is more money using the progressions to make money than all the accolades.
You are true about what is important the most, however, there is nothing contradictory in an efficient progression and probability theory because, like I said, the order which wagering takes place as well the amounts don't change odds, we will still lose the times it's probable to lose but we will gain more when we win in order to cover any other losses.
In order house edge to be the main factor of losing, there shouldn't be any progressions but only flat betting, then we would lose sooner or later by the percentage of the house edge.
In order to realize how trivial is house edge in comparison with variance do the following, place 1 unit on red and another on black, see how long would it take to lose your bankroll by the 0!
But a martingaler could lose large sums of money within just a few spins because of the variance.
For an enterprise as the casino, 2.7% or more from the total action is a large sum, therefore important for them, but from the gambler's perspective, if you would lose 2.7% of 100 it's insignificant.
Another thing 2.7% from 150,000 and completely another 2.7% from 1,500!