Gambling strategy. Mary likes to go to the horse races and bet. She thinks she has as winning strategy: she doesnt want to win a lot of money, just cover the cost of admission to the tracks so she can have fun. The cost of admission is $8 per day. So Marys strategy is this: shes bets enough on the first race (say, $7 on the favourite), such that if she wins she gets $8. If she loses, she bets enough to win $15 (a slightly longer shot). The next race is more of a long shot still, and costs $3. If she loses that race, she bets enough to win $18. And so on. If she loses every race on a given day, she is out of pocket, say, $84. So on the next day, she has to bet enough to win $84 + $8. What is wrong with this strategy?