Gambler's ruin
id:
gambler-s-ruin-164-13894420
title:
Gambler's ruin
text:
In statistics, gambler's ruin is the fact that a gambler playing a game with negative expected value will eventually go bankrupt, regardless of their betting system. The concept was initially stated: A persistent gambler who raises his bet to a fixed fraction of the gambler's bankroll after a win, but does not reduce it after a loss, will eventually and inevitably go broke, even if each bet has a positive expected value. Another statement of the concept is that a persistent gambler with finite w
brand slug:
wiki
category slug:
encyclopedia
description:
Concept of probability theory and gambling
original url:
https://en.wikipedia.org/wiki/Gambler%27s_ruin
date created:
2004-02-03T10:21:52Z
date modified:
2024-08-29T01:32:38Z
main entity:
{"identifier":"Q660446","url":"https://www.wikidata.org/entity/Q660446"}
image:
fields total:
13
integrity:
15