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Linear AlgebraMediumMarkov Chains & Long-Run Behavior

Markov Chains & Long-Run Behavior · Medium problem

A player has $2\$2 and bets $1\$1 at a time, winning each bet with probability 2/32/3 and losing with probability 1/31/3. She stops when she reaches $4\$4 or $0\$0. Model this as an absorbing Markov chain on {0,1,2,3,4}\{0, 1, 2, 3, 4\}. What is the probability that she reaches $4\$4? Express your answer as a common fraction.