Chance of losing one bet is 0.02
Chance of losing 5 bets in a row is 0.02^5=3.2*10^-9
It happens once every 1/(3.2*10^-9)=312.5 million times
Chance of losing 5 bets in a row is 0.02^5=3.2*10^-9
It happens once every 1/(3.2*10^-9)=312.5 million times
It's wrong .
You always have 2% chance of losing in every bet and it's independent be in a row or not .
If you loss on your first bet , your second bet has got exactly same chance of losing .
No, he's right.
The chance of N independent events all happening is equal to the product of their individual probabilities.
It's precisely *because* the rolls are independent that he can raise 0.02 to the 5th power to get the probability of 5 98% rolls all losing.
