Roulette Wheel Game

[nonlinear5]

If you lowered the minimum bet to 5%, I'd play this game.

Yes, the OP needs to relax the requirement that the bet size is fixed at the size of the account. Once this requirement is dropped, we can talk about Kelly, optimal F, leverage space, Sharpe, mean-variance, growth-optimality, probability of the shortfall, risk aversion, common utility functions (quadratic, logarithmic, exponential), and all other good stuff related to the problem at hand.

 

[Mysteron]

If there was a roulette wheel that has 100 numbers on it, and this includes the green 0 and 00.

The rules are simple, every day you get 1 spin:

1) If you land on 0 or 00, you lose your whole account. (2% chance)
2) If you land on the other 98 numbers besides 0 or 00, you make +3% of your account every spin. (98% chance)

So if you spin it 5 times, let's not take compounding into effect, you will make +15% overall.

Would you play this game? Why or why not? What would your long term strategy be, if any?

What odds would you be willing to play (if these odds are too risky for you)?

It's always interesting to see what everyone's risk tolerance is.

This clarifies the game for me, so I wouldn't play unless the bet size was reduced.