{"about":{"site":"https://codewithpapers.app","non_affiliation":"Code with Papers and Syntology are not affiliated with, endorsed by, or sponsored by Papers with Code, Meta, or the pwc-archive mirror.","licence":"CC BY-SA 4.0","licence_url":"https://creativecommons.org/licenses/by-sa/4.0/legalcode","attribution":"https://codewithpapers.app/attribution","modified":"archive material modified by Syntology; see the attribution page"},"url":"/paper/an-investigation-into-laboucheres-betting","title":"An Investigation into Laboucheres Betting System to Improve Odds of Favorable Outcomes to Generate a Positive Externality Empirically","arxiv_id":"1707.00529","date":"2017-06-29","proceeding":null,"authors":[],"abstract":"The Labouchere gambling system is hypothesized to increase the probability of\nwinning a predetermined arbitrary profit in a gambling system such as a coin\nflip or a roulette game in which both payouts and odds are 1:1. However, use of\nthe system increases the downside monetary risk in the event of a streak of\nmultiple losses. To begin, a player creates an arbitrary series of consecutive\nintegers with a sum equal to the desired profit from multiple rounds of\nbetting. Using the system, a player will either win an amount equal to the sum\nof the elements of the initial series or lose all of their available capital.\nThis sequence was simulated multiple times to determine the statistical\ncharacteristics of both the return and of the loss in an average round of\nbetting. By running the simulations of millions of rounds of Labouchere, it was\npossible to discern the probable outcomes of running the system using the\nLabouchere gambling sequence and plotting the results on a graph to map the\naverage return on the initial capital investment. The Labouchere system is very\npsychologically appealing to players because when applied over time it provides\nvery consistent linear returns. However, there is eventually a critical moment\nat which the available capital for betting is exceeded and a player loses all\nof their available capital. It was found that as the number of bets increased,\nthe outcome of applying the sequence approached zero.","url_abs":"http://arxiv.org/abs/1707.00529v1","url_pdf":"http://arxiv.org/pdf/1707.00529v1.pdf","source":{"archive":"pwc-archive (Hugging Face), CC BY-SA 4.0","snapshot":"2025-07-28","licence_url":"https://creativecommons.org/licenses/by-sa/4.0/legalcode","row_kind":"abstracts"},"code_links":[{"paper_slug":"an-investigation-into-laboucheres-betting","repo_url":"https://github.com/jake-billings/research-labouchere","is_official":1,"mentioned_in_paper":1,"mentioned_in_github":1,"framework":"none","reach":null}],"tasks":[],"methods":[],"datasets_introduced":[],"methods_introduced":[],"results":[],"syntology":{"atlas_url":null,"mcp":null,"developers":"https://syntology.ai/developers"},"arxiv_metadata":null,"syntology_extracted_results":null}