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Can someone please explain how to apply this first and an ELI5 second? (www.youtube.com)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 4 points 1 year ago* (last edited 1 year ago)

This is true if you're betting everything you have. By not having shrinking bets after losses you can tap into the net gains. Compare 1 win followed by 1 loss with $100 start:

Win is $100+$80 = $180

Loss is $180-$90 = $90

Compare with fixed bets of $50 with bank of $100:

Win is $100+$40 = $140

Loss is $140-$25 = $115