Would you play the coin flip game?

During Christmas holidays, you visit a casino with some of your friends. At one table, you come across a coin flip game. The rules are very simple for this game unlike Blackjack game.

Flip a coin, heads you win $100, tails you lose $50.

You don't like to gamble and you had also declared this before entering the casino.

What is your plan to play now?

Photo Adaptation /Flickr/59937401@N07

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Twinkar

Tue, Dec 22nd 2015 at 4:49 AM

I would play forever as probability dictates that each coin toss is independently, equally likely to be heads or tails As I tend to a larger number of tries Roughly half the number of times I will win $100 and remaining half, I will lose $50 So for example 1000 tries 500 times heads 500.100=50000 gained 500 times tails 500.50=25000 lost Net 50000-25000 25000 gained 1000000 tries 500000 times heads 500000.100=50000000 gained 500 times tails 500000.50=25000000 lost Net 50000000-25000000 250

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Would you play the coin flip game?

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