英文标题：
《An Investigation into Laboucheres Betting System to Improve Odds of
  Favorable Outcomes to Generate a Positive Externality Empirically》
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作者：
Jake Billings and Sebastian Del Barco
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最新提交年份：
2017
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英文摘要：
  The Labouchere gambling system is hypothesized to increase the probability of winning a predetermined arbitrary profit in a gambling system such as a coin flip or a roulette game in which both payouts and odds are 1:1. However, use of the system increases the downside monetary risk in the event of a streak of multiple losses. To begin, a player creates an arbitrary series of consecutive integers with a sum equal to the desired profit from multiple rounds of betting. Using the system, a player will either win an amount equal to the sum of the elements of the initial series or lose all of their available capital. This sequence was simulated multiple times to determine the statistical characteristics of both the return and of the loss in an average round of betting. By running the simulations of millions of rounds of Labouchere, it was possible to discern the probable outcomes of running the system using the Labouchere gambling sequence and plotting the results on a graph to map the average return on the initial capital investment. The Labouchere system is very psychologically appealing to players because when applied over time it provides very consistent linear returns. However, there is eventually a critical moment at which the available capital for betting is exceeded and a player loses all of their available capital. It was found that as the number of bets increased, the outcome of applying the sequence approached zero.
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中文摘要：
假设Labouchere赌博系统增加了在掷硬币或轮盘游戏等赌博系统中赢得预定任意利润的概率，其中支付和赔率均为1:1。然而，如果连续出现多次亏损，使用该系统会增加下行货币风险。首先，玩家创建任意系列的连续整数，其总和等于多轮下注的预期利润。使用该系统，玩家要么赢得相当于初始系列元素之和的金额，要么失去所有可用资本。对该序列进行多次模拟，以确定平均一轮下注中收益和损失的统计特征。通过对数百万轮拉布切尔赌博进行模拟，可以识别使用拉布切尔赌博序列运行系统的可能结果，并将结果绘制在图表上，以绘制初始资本投资的平均回报。拉布切尔系统在心理上非常吸引玩家，因为随着时间的推移，它提供了非常一致的线性回报。然而，最终会有一个关键时刻，在这一时刻，可用于下注的可用资本被超过，玩家将失去所有可用资本。结果发现，随着下注次数的增加，应用序列的结果接近于零。
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分类信息：

一级分类：Quantitative Finance        数量金融学
二级分类：General Finance        一般财务
分类描述：Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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