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He is using a martingale system of betting and he started with $20,000 and is betting $0.20 each time. If he loses he doubles his bet, he keeps on doing this until he wins and then the bet starts at $0.20 again. Every win he gets he bets another $0.20.

His odds of winning each bet is 47.5% and the house has 52.5% chance of winning. In order for him to go broke, he would need to lose about 17times in a row right? I think it's less than that because it's not 50/50 chance. So odds of him losing around 17 bets in a row is 1/131,072 apparently... Is this correct?