What Is the Probability of Winning in a Gambler's Ruin Scenario?

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In a Gambler's Ruin scenario, a gambler starts with £1 and aims to reach £100, facing equal probabilities of winning or losing each game. The probability of winning can be analyzed using programming techniques, specifically nested loops. While one participant suggests using nested "for" loops, another recommends employing nested "while" loops for better control over the game's outcomes. The discussion emphasizes the need for guidance in implementing these programming concepts, particularly for those with limited experience in Matlab. Understanding the probability and coding approach is crucial for solving the problem effectively.
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Hi guys, I have been given a problem to complete, but at the moment my progress has been minimal.

A gambler has £1 to gamble, he plays a game in which the probability of winning and losing are equal. If he wins he gains a pound, and loses a pound if he does not win. He starts with £1 and must stop once he has no money remaining. He has a goal of £100, if he achieve this he will stop and consider himself to have beat the casino. What is the probability of the gambler winning?

I have only had two classes on using Matlab since September, thus I am not very experienced.

To complete this problem I know I need to use nested For loops but I just don't know where to start, so any guidance would be appreciated very much.
 
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Hello AASaunders,

I would say it would be easier with 2 nested "while" loops.

The outer one to make sure you get a few wins, the inner one to break free of the game once you lose or win.

J.
 

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