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I have an amount of chips to bet on a fair coin flipping and landing on heads. For each time in a row that it does land on heads, the amount of chips in the bet is doubled by the house, and I am able to take away any portion of chips from the bet as they are won. Say I have one thousand chips. What should I bet, and when and how many chips should I take out from the bet when I do win?

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  • $\begingroup$ is this problem similar to you're question?en.wikipedia.org/wiki/St._Petersburg_paradox $\endgroup$
    – Kamster
    Jul 14, 2014 at 22:48
  • $\begingroup$ It seems similar, but in this case the player seems to be able to take coins out of the pot between each coin flip. Also to determine the initial bet. $\endgroup$
    – Duncan
    Jul 14, 2014 at 22:54
  • $\begingroup$ Oh so you don't have to put alway winnings back into bet, can just put portion? $\endgroup$
    – Kamster
    Jul 15, 2014 at 0:40
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    $\begingroup$ I think that you can't win money on any strategy in a long run $\endgroup$
    – user144981
    Jul 16, 2014 at 9:22

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