Assume that the win chance in a single bet is 49% and the lose chance is 51%. You get back to the base amount every time you win and double the bet amount every time you lose. You have a big balance and you can continue wagering until you have 20 consecutive loses.
Every time you wager, the chance of having 20 consecutive loses is only 0.00014%.
Usually, Freebitco users play the multiply BTC game on 2× multiplier. Where the win chance is 47.5%. The probability of getting 20 consecutive loses becomes 0.000253% if we consider the 2× multiplier of Freebitco. By keeping the "assume that" on a side, the payout becomes 1.94× if you set the win chance to 49% (48.97%) in Freebitco. Therefore, users won't get back the base amount by doubling his bet amount after every lose.
The chance of winning 100,000 times without having 20 consecutive loses would 86.79%
The chance of winning 1,000,000 times without having 20 consecutive loses would be 24.24%
I got the first one. But how have you calculated these two probabilities here?