Losing Streaks calculator

[Fryingpan]

Haven't been here a while, so this might not be new news.

http://www.twonix.com/index.jsp?action=ruin

Found this free download for a Longest Lossing Streak calculator based on mathematical probabilities (strike rates etc) which you put in. There used to be a good site that did this but it no longer operates.

Hope this post is useful for some people who like me, want to know more about the odds of success.

[Shaun]

the way i calculate a loseing streak is i look at my bank balance and if i have $10 i know the loseing streak has to end soon because i am broke and can't bet anymore

[Dan]

This is the formula I use. It might look a bit complicated but once you've used it a few times it's pretty easy.

Predicting the number of losing runs of a given length, against a given strike rate:

X = N x S^2 x (1 - S)^L,

where
X = number of losing runs of length L
N = number of results
S = strike rate
^ = to the power of
L = length of losing run you wish to investigate.

nb. S is in decimal format eg. s/r of 75% would be 0.75

I find if you make N 10,000 it's pretty accurate.