Risk of Ruin Given a Goal and Time Constraint (Double-Barrier)
This is called a double barrier formula and is found on Blackjack Attack
page 137. We are calculating the risk of bankruptcy before hitting a goal
or playing a number of hands. Here, you set a point at which you will stop
playing. The risk is lower than the calculator with no goal since you will
stop playing if you hit one of two quit points: Time or Goal.
End Result/Goal in units: This
is the number of units that you wish to finish with including the bankroll
that you started with.
Bankroll in units: The number
of units that you start with.
Win rate per 100 hands: The units
that you win over 100 hands. You can get this from the CVCX Online Main
Std. Dev. per 100 hands: You can
get this from the CVCX Online Main Viewer.
Hands: Total number of hands played.
Does not include skipped hands.
Probability of reaching goal:
The percentage of times that you will reach the specified goal at any
time under the requested conditions.