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Chim Pui Chung v Apple Daily Ltd & othersMartingale (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.

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