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How to calculate probability of making $80 on 1000 sequential bets under the following conditions: (1) unlimited funds (2) bankroll of $256...
How to calculate probability of making $80 on 1000 sequential bets under the following conditions: (1) unlimited funds & (2) bankroll of $256 utilizing martingale betting strategy.
Details of betting strategy:
Always bet on black (18/38) chance of winning.
bet amount $1
if win continue to bet $1
if lose double bet until you win.