This question is a decision-tree problem.
Obviously, because Larry goes first, Larry clearly has the advantage if she luckily wins in the first turn. This game is an unfair game for Julius -> The probability that Larry wins must be higher than 1/2.
We have the following scenarios: (LW as Larry wins, LL as Larry loses, JW as Julius wins, JL as Julius loses)
LW LL -> JW
--------JL ->
LW--------------- LL -> JW
-----------------------JL ->
LW------------------------------LL -> [...]
This will continue until there is one person wins the game or we can say it continues to infinitive.
The chance for Larry to win lies at 1st, 3rd, 5th, 7th turns -> odd turns
=> The probability now is: (0.5)+ (0.5)^3 + (0.5)^5 + (0.5)^7 + ... + (0.5)^n with n is an odd number
The question now asks us to count the sum of a sequence.
Applying the
Geometric Progression, we have b1=0.5, r = (0.5)^2, the sum is 0.5/[1 - (0.5)^2] = 0.5/0.75 = 2/3