Comment on Is there a house advantage in a "double-or-nothing" coin flip game?

OsrsNeedsF2P@lemmy.ml ⁨3⁩ ⁨months⁩ ago

If you have 100$, and you bet 1$ at a time, infinitely, you will lose.

More generally (simplified to assume you’re always betting the same amount):

P(ruin after X bets) = (1 - (p / q)^(X)) / (1 - (p / q)^N)

where:

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