Martingale Theory

Martingale Theory is a concept from probability and gambling that suggests that, in a fair game, the expected value of a series of bets will remain constant over time. Essentially, it posits that past outcomes do not influence future results. In practice, it’s often applied to betting strategies where individuals double their bet after a loss, hoping to recover previous losses with a win. However, it's important to note that while this strategy might seem appealing, it doesn't guarantee success and can lead to significant losses due to the limits of betting and the potential for major losing streaks.