And the Answer Is...
Although on the face of it many would think that they have a good opportunity of drawing the required number of blue balls before drawing the losing red ones - the answer is: "No" - you should not take this bet.
The percentage chance of success works out at about 46.9% over the long term - so you will be losing approximately 53% of the time.
The odds, as my contributer (Cassini) pointed out, are important. The question was based as a bet between two people and assumed "even money" but if you were getting odds of around 6/5 (2.20) for the bet - then it would become marginally profitable.
posted by Betting Exchange Trader
