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March 30, 2017

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The game of dots is played by rolling a fair die and
receiving $1 for each dot showing on the top face of the
die. What cost should be set for each roll if the game is
to be considered a fair game?

  • Math 157 - ,

    The average payoff will be
    (1/6)(1+2+3+4+5+6) = 21/6 of the bet.
    The breakeven "fair" price for a roll should be $3.50.

    Since the "house" will want to retain an advantage, they might charge $4 per roll.

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