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Independent events for betting strategies

The following betting strategies apply to games which operate on independent events. For such games, the odds of a particular outcome are identical for every bet played. No such strategy can beat the house edge (if any) in the long run, and all of them trade off many small wins for a big loss or vice versa.

• Martingale – doubling bet after each loss until a win is achieved (or fails when the amount of the bet becomes excessive)
• Kelly criterion
• Split martingale
• Anti-martingale
• d’Alembert
• Contra d’Alembert
• Regression
• Paroli of Three

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