There is a strategy that some gamblers uses when in a casino.
It goes by after a loss, they double the bet on the next attempt.
For example:
After a loss of 25$, the next bet would be a value of 50$. And if they continue to lose, they would continue to double it down until they win a hand.
The problem with that strategie, is that we often underestimate the chance of a losing streak to happen.
The script I wrote, shows the chance of a streak happening considering you're flipping a coin 200 times
º The Difficulty of Faking Data -by Theodore P. Hill
http://www.kkuniyuk.com/Math119FakingData.pdf
º Wizard Of Odds Streaks
https://wizardofodds.com/image/ask-the-wizard/streaks.pdf
º The Martingale problem - Vsauce
https://www.youtube.com/watch?v=DntEoGG7RyY&ab_channel=Vsauce2