Gambling has captured human imaginations for centuries. As the first casino started operations in Italy in 1638, principled bankroll management was already a topic of interest for probability theorists. It is a couple of decades later that the [Gambler's ruin problem](https://en.wikipedia.org/wiki/Gambler%27s_ruin) was stated and even solved. This approach formulated our first attempt to understand the mathematical process leading to a bankroll going up in smoke after a series of bets. In this article, we will explore the mathematical framework and the formula that was extracted from it to model the Risk of Ruin.
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