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How often do winning and losing streaks occur?
In a game where the odds are roughly even, the probability of a streak of wins or losses occurring are roughly:
| 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|
| 25.00% | 12.50% | 6.25% | 3.13% | 1.56% | 0.78% | 0.39% | 0.20% | 0.10% |
Their frequency will depend on the length of the series you are considering. For example, if you toss a coin 100 times, you are likely to encounter two runs of six consecutive heads or tails (100 * 1.56% = 1.56). A run of ten consecutive heads or tails is bound to occur at least once per every thousand tosses (1000 * 0.10% = 1).
Two important notes:
Also, the figures above are based on a 50-50 odds, which is not accurate for blackjack. Although a basic strategy player can trim the house's edge to less than half a percent and have roughly a 50:50 chance of winning or losing money over the course of many hands, this not the same as the odds of winning or losing each individual hand. The strategic player gains edge by doubling and splitting hands, increasing the money won or lost rather than the number of individual hands won. The actual win:lose ratio of individual hands is actually around 60:40, so the probability of a streak in blackjack would be:
| WINNING STREAK | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| 16.00% | 6.40% | 2.56% | 1.02% | 0.41% | 0.16% | 0.07% | 0.03% | 0.01% |
| LOSING STREAK | ||||||||
| 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| 36.00% | 21.60% | 12.96% | 7.78% | 4.67% | 2.80% | 1.68% | 1.01% | 0.60% |
In most cases, this information is merely trivia. It's only practical to know if you're planning your bankroll in order to use a wagering system. For example, if you plan to use Martingale (doubling after a loss) for an session of 200 hands, at least one run of ten consecutive wins or losses is likely to occur (200 * 0.60% = 1.2), so you'll need to bring a bankroll of at least 512 times you base wager in order to survive the streak should it be a losing one.
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