---
tag: 0D0GBNDKDH
kind: concept
name: Martingale
aliases: [martingale-probability-theory]
msc: [60G42]
sources:
  - url: https://en.wikipedia.org/wiki/Martingale_(probability_theory)
    locator: lead section
same_as:
  wikidata: Q534112
  wikipedia: Martingale (probability theory)
---

## Summary

A martingale is a stochastic process in which the conditional expectation of the next value, given the past, is the present value. It models the fortune of a player in a fair game.
The node [[martingale|0CDVK9RQBH]] gives the precise definition in discrete time.