martingale
noun
Definitions
A piece of harness used on a horse to keep it from raising its head above a desired point.
A spar, or piece of rigging that strengthens the bowsprit.
A stochastic process for which the conditional expectation of future values given the sequence of all prior values is equal to the current value.
Example: If a gambler plays a fair game repeatedly, his payoff over time is a martingale.
A gambling strategy in which one doubles the stake after each loss.
verb
Definitions
To employ the martingale strategy in gambling.