Pretty sure they're assuming the max bet is a constant. Casinos generally don't reduce the max bet as players win...
When the bankroll is crowd-sourced and changes dramatically over time like it does at JD it makes sense to set the maximums dynamically so they change with the bankroll. That has a side-effect of vastly reducing the risk of ruin.
makes lots of sense. i guess the best way to calculate risk of ruin is to go through a bernoulli process then. Assuming a reasonal bankruptcy point > 0. maybe 30-40% of original bankroll. since going to 0 would be infinite time.