为什么久赌必输？股票加杠杆，风险为啥这么大？李永乐老师讲赌徒输光原理

There is a very classical problem: if there are two gamblers playing a fair game: they win/lose 1 dollar per game, and the chance of winning/losing every game are all 50% respectively. The game can be repeated multiple times until one of them loses all the money. Then, their chance of becoming the final winner will be dependent on the initial money they hold. The one with more money have better chances to win all the money, and correspondingly the one with less money is more likely to lose all the money. If one of them has infinite amount of money, the other one would lose everything with a possibility of 100%.

Consider a gambler gambling in a casino. The ratio of the money deposit of the casino and the gambler is nearly infinite, therefore even if the game is fair, the gambler will definitely lose all his deposit as long as he keeps gambling. This could also explain adding leverage to the stocks on markets. The higher the leverage's ratio is, the more the chance of losing. Pushkin's fairy tale THE FISHERMAN AND THE GOLDFISH also illustrates the same issue: the greedy people will finally possess nothing. What is the mathematical principle behind? Click and watch!

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