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Court rules in favour of ex-lawmaker Chim Pui-chung in libel case over soccer betting tactics
South China Morning Post, 3-Feb-2017
South China Morning Post, 3-Feb-2017
Chim Pui Chung v Apple Daily Ltd & others
| Martingale (betting system)
HK Court of First Instance, 3-Feb-2017
Mr Chim wins HK$100k for an article criticising his claim of a winning formula for betting on the 2014 soccer World Cup. No evidence was advanced in defence to show that he was wrong. Mathematicians would recognise his claim to be a Martingale system. Even with no house-edge, the net expected value of the series of bets is zero-win, because although there would be a small net win on most series, there is also a small risk of a huge loss. In reality, no punter has unlimited capital, no house accepts infinite bets, each series of matches comes to an end and every house takes an edge.
HK Court of First Instance, 3-Feb-2017
Mr Chim wins HK$100k for an article criticising his claim of a winning formula for betting on the 2014 soccer World Cup. No evidence was advanced in defence to show that he was wrong. Mathematicians would recognise his claim to be a Martingale system. Even with no house-edge, the net expected value of the series of bets is zero-win, because although there would be a small net win on most series, there is also a small risk of a huge loss. In reality, no punter has unlimited capital, no house accepts infinite bets, each series of matches comes to an end and every house takes an edge.
Former lawmaker sues columnist for mocking 'sure win' World Cup betting formula
South China Morning Post, 11-Jan-2017
South China Morning Post, 11-Jan-2017
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