A gambler has $5,000 and is playing a game of chance with a win probability of .95. Every time he wins, he raises his stake to 1/4, of his bankroll. The gambler doesn't reduce his stake when he loses

If he keeps at it, what are his expected winnings?

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## BMAD 65

A gambler has $5,000 and is playing a game of chance with a win probability of .95. Every time he wins, he raises his stake to 1/4, of his bankroll. The gambler doesn't reduce his stake when he loses

If he keeps at it, what are his expected winnings?

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