Jake says to his buddy Chirag, "I’ll bet you 1/2 the money in my wallet on the toss of a penny- heads I win, tails I lose."
The penny was tossed and the money handed over. Jake repeated the offer again and again, each time betting 1/2 the money in his wallet. We are not told how long the game went on, or how many times the penny was tossed, but this we know: that the number of times that Chirag lost was exactly equal to the number of times that he won.
Now, did Jake gain or lose by this little venture? Or is it impossible to determine?
Feel free to enter your answer below; submissions will be unmasked Thursday.