How Long at the Table
A gambler starts with $3 and repeatedly bets $1 on a fair coin, winning or losing $1 each round. Play stops when the fortune reaches $0 or $10. What is the expected number of rounds played? Give an exact number.
Related problems & prerequisites
Worth solving first
- Gambler's Ruin 4.0/10
- The Favoured Gambler 4.0/10
- The Uphill Drunk 4.0/10
Source: Expected duration in the fair gambler's ruin; classical. Statement written for AxiomIQ.