Thus the strategy is an instantiation of the St. Petersburg paradox. Since a gambler will almost surely👍 eventually flip heads, the martingale betting strategy is certain to make money for the gambler provided they have infinite wealth👍 and there is no limit on money earned in a single bet.

This effect scales up to any amount of starting capital: there is👍 a large chance of gaining a little bit of money and a small chance of losing all your money. As👍 a result, many gamblers will turn a small profit playing the martingale system, but the rare gambler will suffer complete👍 losses.

The process predates written history, and was first done by hand and with sticks. Spinning wheels are💳 believed to have originated in India between 500 and 1000 A.D. By the 13th century, they were seen in Europe💳 and were a standard piece of equipment for those making fiber into yarn.

The spinning wheel was probably invented in💳 India, though its origins are obscure. It reached Europe via the Middle East in the European Middle Ages.