Quote (Taurean @ Apr 23 2018 01:39pm)
You lose 7 times. On the 8th bet, you win. But you would still have to place a bet on the 8th game. So you would break even, as long as you quit playing when you win on the 8th game.
You lose 70$ on the first 7 games, but on the 8th game, you place 10$, but you win 80$. Now you're at zero again.
Well, if you're paid 7 times your stake, the game would have to involve the rule that you get your original bet back. If not, it's a losing game.
See feanur for the correct mathematical calculations/conclusion.