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August 4th, 2017, 02:43 AM   #1
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From: israel

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optimizing winning strategy

Hi, I'm new here and don't really know much math and statistics, this question popped in my mind - has anyone answered it yet?

in gambling games, there is the strategy of doubling your bet every time you lose.
because the sum is growing every time you double down, it is logical to have an exit point, a total lost that you don't double down afterwards but return to base bet just as you would if you won.

my question is, has anyone calculated the optimized ratio between your total funds, the base bet, the exit point, in accordance with the odds -
for example: if you have X amount of cash, and the winning chances are Y%, what would be:
A. the optimal base bet.
B. the best exit point.
after running some simulations, I came to the conclusion that with around 47% chance to win, if the simulator would run for few thousand times, it is highly likely to lose the bet 11 and more times in a row, but is there an equation for it?
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