Quote Originally Posted by vba_php View Post
yeah I realize that Joe, but the number of bets is irrelevant when you're just looking for a streak of FIVE losses at any point within the 250 bets. doesn't that make sense? any given 5 losses in a row doesn't make a difference with regard to where they are in the progression of within the 250 bets total. or do they? I might be wrong. but you tell me, since it's your project.
Hi Adam,

When calculating probability it increases in correlation with the number of events, an example of this would be a coin flip. We all know that a coin flip has a 50/50 chance of being heads or tails, furthermore, if you flip a coin twice the probability of landing on heads or tails is still 50/50, however, the probability of your guess being incorrect over those two flips is not 50/50 it is actually 62.5%.

It is with this understanding that I believe it is important to consider the number of bets.

J