I believe its a Compound Interest question

[wellerthegreat]

Hi all,

First time here, so I have a question about what I think would be a compound interest type question. I'm not great with math so i hope you guys can help. So the big picture. I'm betting on a 0.00 to 100.00 dice game, where I'm being paid out at 10-1 for any roll over 90.00. My safety net is when I lose, I have it set to automatically increase my bet by 11%, so even if I lose 150x if I win once, I make my money back plus some. so my question is as follows.

So i currently have 0.5 Bit Coin. I'm currently betting at 0.000005. What I'm looking for is the equation to figure out how many Bets I can make at 0.000005 with a increase of 11% per loss, before I would loss my 0.5.

I'm really looking for a easy to understand equation, so when I want to increase my Bet, I know how many plays I get before I loss my Bank.

Thank you for taking the time to help.

Weller

 

[tkhunny]

What's the point of a "safety net" if you are interested in how long it takes to "loss your bank"?

Do you reset to 0.000005 after each win?

I ran some scenarios...

Without Resetting:
[math] \begin{matrix} % 2 cols (ctr, ctr); Bets\;to\;Debt & Frequency \\ 90 & 0 \\ 100 & 162 \\ 110 & 410 \\ 120 & 290 \\ 130 & 139 \\ 140 & 57 \\ 150 & 34 \\ 160 & 16 \\ 170 & 7 \\ 180 & 2 \\ 190 & 2 \\ 200 & 1 \\ 210 & 0 \\ 220 & 2 \\ 230 & 0 \\ 240 & 0 \\ 250 & 0 \\ \end{matrix} [/math]Average is around 113 rounds until you are broke.

With resetting on each win, we don't get to debt, but the final account value, after 1,119 rounds, breaks down like this:
[math] \begin{matrix} % 2 cols (ctr, ctr); Final\;Balance & Frequency \\ 0.50132 & 36 \\ 0.50188 & 8 \\ 0.50245 & 7 \\ 0.50301 & 17 \\ 0.50357 & 33 \\ 0.50413 & 157 \\ 0.50470 & 344 \\ 0.50526 & 370 \\ 0.50582 & 134 \\ 0.50639 & 16 \\ \end{matrix} [/math]
Worth it? It's a probability distribution, not an equation.

Short Lecture: There is no "easy to understand equation". This is a common request from those who state openly that they are "not great with math". The obvious question is, "Why are you trying to understand it if you know already that you can't?" You'll need a better attitude and A LOT more effort if you truly wish to understand.

In the interest of full disclosure, I answered this question ONLY to give you that short lecture.