Results 1 to 2 of 2

Math Help - How to work out the probability of a specific sized win?

  1. #1
    Newbie
    Joined
    Jan 2010
    Posts
    16

    How to work out the probability of a specific sized win?

    I wonder if someone can help me with this probability problem.

    The following is based on using European single zero roulette as an example which has a house advantage of 2.7%. There are 37 numbers on said roulette wheel consisting of 18 red numbers, 18 black numbers, and one green.

    If I were to place a 100 bet on red (which pays out even money, the chances of that bet hitting are 18/37 = 48.6%.

    Therefore the chances of me doubling my money are 48.6%.

    However.....how would I work out the chances of quadrupling my money if I use the same bet size?

    Obviously if I bet 100 on red and it won, I would then have 200, and if I bet THAT 200 all on red, the chances of that happening are;

    48.6% x 48.6% = 23.66%.

    But what would the chances be of hitting the 400 if I kept the bet size at 100 ?? (and how do I calculate that?).

    Thanks
    Follow Math Help Forum on Facebook and Google+

  2. #2
    Newbie
    Joined
    Jan 2010
    Posts
    16
    I've actually just done this with a probability tree, and I worked out that to hit the 400 target, you would need to win 3qty 100 bets in a row, therefore the probability of this happening is (I think)

    48.6% x 48.6% x 48.6 = 11.51%

    However this assumes that all three bets win. Does this probability change, for example, if you were to win a bet, lose a bet, then win etc etc.... ??
    Follow Math Help Forum on Facebook and Google+

Similar Math Help Forum Discussions

  1. Replies: 4
    Last Post: January 15th 2012, 11:44 AM
  2. Five identically sized regular tetrahedra ....
    Posted in the Statistics Forum
    Replies: 0
    Last Post: October 23rd 2011, 09:55 AM
  3. Depths in different sized molds
    Posted in the Geometry Forum
    Replies: 1
    Last Post: October 6th 2010, 03:17 PM
  4. Replies: 2
    Last Post: December 9th 2009, 01:19 PM
  5. Replies: 1
    Last Post: November 6th 2009, 12:48 AM

Search Tags


/mathhelpforum @mathhelpforum