Is there any formula to calculate risk of ruin? Or must that be done strictly by computer simulation?
The risk of ruin formula is pretty straight forward and can be found in Don Schlesinger's Blackjack Attack and other places. The tricky part is coming up with the correct standard deviation for the particular game you are playing. This can be found in tables in Don's book and other places, but all were derived from computer simulations. Easiest thing to do is use Norm's CVCX.
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