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Misc Whats your strategy, head or tail

Discussion in 'Miscellaneous Gambling Forum' started by AlohaHawaii, Feb 2, 2019.

  1. AlohaHawaii

    AlohaHawaii New Member

    Joined:
    Feb 1, 2019
    Likes:
    0
    Location:
    Singapore
    Hi,
    In order to understand more deeply the laws of averages and probablities, I have the following question.

    Supposedly, if we are gambling using just a coin and we are only to bet either head or tail, assuming the house pay 1 to 1, what would be the best winning strategy.

    According to the laws of averages, after many throws, it will be almost 50% head and 50% tail. So assuming we bet 1 unit each time, then theoretically, after many games, we should not win or lose.

    But i was thinking, if i bet 1 unit each time and assuming ive already lost 50 units, i then increase my bets to 2 units, will i win eventually. Afterall although ive lost 10 times and won 10 times, ive a nett gain.
     

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