Risk of Ruin Calculator
Six calculators are offered on this screen. In these calculators, risk of ruin is defined as the probability that you will go bankrupt before increasing your bankroll by a desired amount within a specified number of hands. (This is Don Schlesinger's current Double-Barrier Trip Ruin Formula.) There are six variables. You can fill in any five and calculate the sixth by selecting the appropriate button on the tool bar. Click the Calculate button for the answer. The values are defined as follows:
Variables
Ø End Result/Goal in units: This is the number of units that you wish to finish with including the bankroll that you started with.
Ø Bankroll in units: The number of units that you start with.
Ø Win rate per 100 hands: The units that you win over 100 hands. In CVData if you set the hands per hour at 100, then you can get this number by taking the Win Rate from the Summary stats and dividing by the unit size. Or use the Load button.
Ø Std. Dev. per 100 hands: Standard Deviation can be found in the Summary stats. Or use the Load button.
Ø Hands: Total number of hands played.
Ø Probability of reaching goal: The percentage of times that you will reach the specified goal at any time in the number of hands played before losing your entire bankroll.
Tools
There are several charts available in the CVData version of this calculator.
