A gambler playing roulette has a superstition that he must place bets for exactly 10 spins of a roulette wheel (American wheel with 00). He has a bankroll of $300 and the table limits are minimum $1 and maximum $150, with $1 increments.
Can you find a strategy which guarantees he will be able to place ten bets and will have at least a 96% chance of making a profit (finishing bankroll of at least $301)?
(In reply to Solution
Actually (20/38)^5 is 4.0386... % -- a slightly greater probability of losing than is allowed.
Posted by Charlie
on 2007-04-05 15:08:24