martingales

noun

1. 1

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

2. 2

   A spar, or piece of rigging that strengthens the bowsprit.

3. 3

   A stochastic process for which the conditional expectation of future values given the sequence of all prior values is equal to the current value.

   “If a gambler plays a fair game repeatedly, his payoff over time is a martingale.”

4. 4

   A gambling strategy in which one doubles the stake after each loss.

5. 5

   A strap attached to the sword handle, preventing a sword being dropped if disarmed.