Hello,

I've come across a handy loss streak probability calculator here:

sbrforum.com/betting-tools/streak-calculator/

Basically, it does this;
"Determines the probability of losing a streak of wagers over the course of a wager series of specified length."

So, given the above;

Question;

If you placed 250 bets in 1 year, each losing with a probability of 30%, what is the likelihood of losing 5 or more bets in a row at some point during the year?

Question is; How is this calculated?

EXAMPLE:
=======
Cell A1: I enter 250 (Number of bets)
Cell B1: I enter 5 (Losing Streak Length)
Cell C1: I enter 30% (Probability of loss)
cell D1: Probability Streak % Answer?

Does anybody know how to create the formula to derive the answer for cell D1 from the above criteria?

The answer is apparently 34.452%