AppliedNumeric answer
The gambler with an edge · Part 2 of 3
You play a series of $1 bets, winning each with probability p and losing otherwise, and stop when you have $0 or $3. You start with $1.
Now you win each bet with probability p = 2/3. What is the probability you reach $3?
Answer with a number. Fractions, powers and expressions like 23/6 or C(52,5) are read correctly in practice.
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