Friday

March 27, 2015

March 27, 2015

Posted by **Hayli** on Wednesday, September 29, 2010 at 8:44pm.

Suppose you bet $5 on a single number--say, the number 18. The payoff on this type of bet is usually 35 to 1. What is your expected gain?

- statistics -
**Reiny**, Wednesday, September 29, 2010 at 9:30pmprob of your number coming up is 1/36

expected gain = 35(5)(1/36) = 4.86

So, just like in every gambling game, in the long-run you would lose.

- statistics -
**Hayli**, Wednesday, September 29, 2010 at 9:46pmthank you

- Correction - statistics -
**Reiny**, Wednesday, September 29, 2010 at 11:01pmthe Prob of your number coming up is 1/38 , not 1/36

which changes the result to

5(35)(1/38) = 4.61

even worse than before

**Answer this Question**

**Related Questions**

statistics - The game of roulette uses a wheel containing 38 pockets. Thirty-six...

Math (expected value) - A roulette wheel in Las Vegas has 18 red slots and 18 ...

English - People use pockets when they eat Brussels waffles. ---------- Is this ...

Englaish - Posted by rfvv on Sunday, June 29, 2014 at 4:13pm. People use pockets...

Stats - A roulett wheel has 38 slots in which a ball can land two of e slots are...

dressmaking and design - Patch pockets are different from cut pockets because of...

physics - After 10.0 s, a spinning roulette wheel at a casino has slowed down to...

physics - After 10.0 s, a spinning roulette wheel at a casino has slowed down to...

Physics(Please check) - After 14.6 s, a spinning roulette wheel has slowed down ...

math - On a roulette wheel, the probability of winning when you pick a ...