**Series Length:**The size of the streak of lost wagers**Streak Length:**The size of the streak in number of wagers**Loss Probability:**The probability of losing any given wager

**Streak Probability:**The probability of a streak of losses of length specified in the "Streak Length" text box occuring over a series of wagers as specified in the "Series Length" text box.

Q: If you place 500 wagers per betting season, each losing with probability 46%, what is the likelihood of losing 10 or more wagers in a row at some point during the season?

A: Enter 500 in the "Series Length" text box, "10" in the "Streak Length" text box, and 47% in the "Loss Probability" text box. Clicking "Calculate" we see that over a stretch of 500 wagers, a bettor who wins with probability 54% has a 10.677% probability of losing 10 or bets in a row.