John Caines
Well-known Member
- Joined
- Aug 28, 2006
- Messages
- 1,155
- Office Version
- 2019
- Platform
- Windows
hello All.
I came across a very handy small calculator here ;
http://www.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." (That's what it says anyway).
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 from the above criteria?
the answer is apparently 34.452%
Amazing.
If anybody can work this out I would very grateful.
It is a very useful calculator.
Hope someone can fathom it out.
Many thanks
John Caines
I came across a very handy small calculator here ;
http://www.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." (That's what it says anyway).
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 from the above criteria?
the answer is apparently 34.452%
Amazing.
If anybody can work this out I would very grateful.
It is a very useful calculator.
Hope someone can fathom it out.
Many thanks
John Caines
