The Survival % column just translates those odds into percentages, so surviving through Day 7 should happen 0.78 percent of the time that we try the 10k betting challenge. And we have a 1 in 1,024 shot at actually securing the $10,000 after Day 10. We have a 1 in 32 chance of surviving Day 5 and having $320 in our account. We can see that after Day 1, we have a 1 in 2 chance of reaching Day 2. The Survival Odds column shows the odds of surviving to the next day with your bankroll still in tact. This chart assumes we are placing 50/50 bets as we try to double our money daily. The below chart outlines the general path for the 10k betting challenge.
Finally, I’ll discuss a lower risk alternative to the 10k challenge. I’ll walk you through the basic math for this challenge – assuming we’re an average bettor, and then I’ll include the math behind the 10k betting challenge if we assume we are the caliber of a professional bettor. 100 percent of the previous day’s winnings are then re-invested into the challenge. This short article will help you understand why, mathematically, this is the absolute worst way to make money betting on sports.įor those unfamiliar, it’s a 10-day challenge, where you try to turn $10 into $10,000 by doubling your money each day. The 10k betting challenge is once again sweeping across social media, and I’m begging you not to participate.
