Posted by Moonpie_17 on .
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.