Streak Calculator

    Establishes the chance of losing a run of bets over the sequence of a series of bets of specified length.

    Inputs

    • Sequence Length: The size of the run of lost bets.
    • Run Length: The size of the run in number of bets.
    • Loss Probability: The chance of losing any given bet.

    Output

    • Run Probability: The likelihood of a run of losses over the course of the run as specified in the “Run Length” text box happening over a sequence of bets as specified in the “Sequence Length” text box.

    Example:

    Q: A person places 500 bets per season, each with a losing probability of 46%. What are the chances of losing 10 or more bets in a row during the season?

    A: 500 would be entered into the “Sequence Length” text box, 10 would be entered into the “Run Length” box and 47% entered into the “Loss Probability” box, this will show that the gambler with a 54% chance of winning also has a 10.677% chance of losing more or more bets in a row.