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BrainteasersJane StreetOptiver

The gambler's two bets

Two bets from the 1650s:

  • Bet A: roll one die four times; you win if at least one six appears.
  • Bet B: roll two dice twenty-four times; you win if at least one double six appears.

The Chevalier de Méré reasoned that a six is 1/6 likely per roll and four rolls give 4/6; a double six is 1/36 likely per roll and 24 rolls give 24/36, the same. Yet he found that bet B lost him money over time and asked Pascal why.

Compute the probability of winning each bet. Which is better, and what was wrong with the gambler's reasoning?

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Work with the probability of losing every roll.

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