Risk of Ruin Calculator. For simple win / lose calculations and even money payoffs only.
works with UNITS only
The probability is an easy formula. Starting bankroll / target. 10/15 in default calculator.
(trying to turn starting bankroll into target) Simple as that when H and T probability = 50%.
Average number of trials for either success or ruin is simple too. Bankroll units * gain units.
A bankroll UNIT is simply the $ bankroll divided by the $ bet (same bet every time (called FLAT BETTING)).
example: $10 bankroll and $1 bets = starting bankroll = 10 UNITS.
example: $100 bankroll and $10 bets = starting bankroll = 10 UNITS.
example: $150 target and $10 bets = target (goal) = 15 UNITS.
Much easier to think in UNITS than actual $ wagered.