GAMBLER’S RUIN, A CURIOUS COIN FLIPPING GAME

A Leitrim lake

Each gambler has a pot of coins and each gambler simultaneously flips a single coin. If n-1 coins show the same side and 1 coin differs, the owner of the differing coin wins. The winner collects a coin from all the losers. In all other situations nobody wins or loses and no exchange of coins occurs. This process continues until one of the gamblers has no coins. What is the average number of games required until one gambler is ruined? In the simulation the probability p of the coin can be varied, however all gamblers’ coins have probability p. We can also vary the number of gamblers and the number of coins each gambler starts the game with.

Avatar
Uber stats nerd
Statistician

Interests include Bayesian statistics, graphics, modelling, prediction particulary in the clinical realm.

Related