Showing posts with label Gambler's Ruin. Show all posts
Showing posts with label Gambler's Ruin. Show all posts

"A gambler with a finite amount of money will eventually lose when playing a fair game against a bank with an infinite amount of money. The gambler's money will perform a random walk, and it will reach zero at some point, and the game will be over." - Gambler's Ruin

0 annotations
"A gambler with a finite amount of money will eventually lose when playing a fair game against a bank with an infinite amount of money. The gambler's money will perform a random walk, and it will reach zero at some point, and the game will be over." - Gambler's Ruin
Full quote »