Kindly comment on the following table...?

Question

http://72.14.235.104/search?q=cache:mQRkIvqPHowJ:www.saliu.com/Saliu2.htm+probability+gambling&hl=en&ct=clnk&cd=1&gl=in

Answer 1

The authors assumes that trials are correlated (somehow). Traditional probability (to make life easier) assumes trials are independent. However, even if one assumes correlation, traditional probability and stochastic theory can work very well.
(there are formulae for conditional probability, etc.).
One would have to read carefully his proofs to see if his gambling formula makes any sense. Notice, that the Table has never a 100%, because probability is just a model for long-term events. In any case, gambling is never recommended, because it is well known that the "house" has always the better odds no matter what model you use.