Re: Long Run Probability Question
No, it's only true if you bet your entire bankroll. If you bet a fixed amount and your bankroll is large enough to withstand the deviation of results you will not go broke especially if you are betting with an advantage. For example, you have $1000 and you bet $10 on the roll of dice, if it's a 12 you lose, otherwise you win and you are given even money on the bet, then obviously you could make this bet over and over again and you will not go broke.
|