martingale

Definition

A piece of harness used on a horse to keep it from raising its head above a desired point.

Etymology

From Middle French martingale, from Occitan martegalo, feminine form of martegal, an inhabitant of Martigues, which is from Latin maritima. Alternatively from Spanish almártaga. The meaning in gambling may come from an old usage of "à la martingale" to mean absurdly, foolishly.https://people.math.harvard.edu/~ctm/home/text/class/sem/html/home/notes/martingales/martingales.pdf

Example Sentences

• "If a gambler plays a fair game repeatedly, his payoff over time is a martingale."