Problem

Mr. Jones has devised a gambling system for winning at roulette. When he bets, he bets on...

Mr. Jones has devised a gambling system for winning at roulette. When he bets, he bets on red and places a bet only when the 10 previous spins of the roulette have landed on a black number. He reasons that his chance of winning is quite large because the probability of 11 consecutive spins resulting in black is quite small. What do you think of this system?

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