Suppose I have a gambling strategy that gives me the odds of winning the casino (regretfully, this does not exist). I have a 51% chance of winning on each bet. How many bets should I place to give me a 99% chance of winning in the casino?
The bets are independent. Every bet size is the same at USD1. A winning bet wins USD1. A losing bet loses USD1. The win amount is the same as the loss amount.
Some formula would be helpful.