Eli5: Why can’t you just double your losses every time you gamble on a thing with roughly 50% chance to make a profit

Question

This is probably really stupid but why cant I bet 100 on a close sports game game for example and if I lose bet 200 on the next one, it’s 50/50 so eventually I’ll win and make a profit

In: 4566

Answer 1

The Martingale strategy has been shown to work mathematically IF you have unlimited money AND there is no bet limit , despite occasional catastrophic losses. BUT the amount you would win is small enough to not even matter to someone with infinite money.