Showing posts with label risk of ruin. Show all posts
Showing posts with label risk of ruin. Show all posts

Thursday, September 15, 2011

One in four chance I'll lose the lot

I tried to work out my risk of ruin today at work (in Excel - I think there are online poker calculators that do it but using those would have meant risking an additional kind of ruin). With 99 big bets left, and assuming a win rate of two big bets per hundred, I made it 24%.