This official document shows about 1:7,700 hrs (13:100,000) for piston failure rate:
https://www.atsb.gov.au/media/5769864/ar-2013-107-final-report.pdf and
https://www.flightsafetyaustralia.c...gating-the-risk-of-engine-failure-in-singles/
That's a pretty good failure rate. Also, just like a 99% effective contraceptive does NOT mean that after 100 tries you'll have one baby, this stat also does not mean that everyone who flies to 8,000 hrs will have an engine failure
Many piston failures are also the result of sloppy flying and maintenance, inappropriate carb heat usage, etc. A turbine is safer, and less prone to dumb user mistakes, but turbines can, and do fail. Spending over $1M to go 200 knots on 30 gallons an hour doesn't really make sense, unless your mission calls for insane runway performance and the ability to lose 5,000 ft/min
And, if the question is crossing the gulf of Mexico and your choice is a twin piston or single turbine, an unofficial poll here a few months ago revealed that most people will take the piston twin..