Question

In the casino gambling game of
American Roulette the wheel has 38 pockets numbered
00,0,1, . . . ,36. Half of the numbers from 1 and 36 are
painted black, while the others are painted red. The
numbers 00 and 0 are painted green. A ball is equally
likely to land in any pocket. Listed below are several of
the many possible bets on where the ball lands, together
with their winning payouts based on a$1 stake. In each
case calculate the expected return on a$1 stake. (If you
win, your return is your payout plus your stake; if don’t
win, you lose your stake and so have no return.)
These expected returns are of course all less than the the
$1 stake — the difference is the ‘house edge’.
BetWin when ball lands in Payout
‘row’pocket whose number is 0 or 00 $17
‘third column’pocket whose number is a positive multiple of 3 $2
‘odd’pocket whose number is odd $1

Answer 1

38 3 19 Case 2 3 8 3 8 14 T4 Case 3 Toted udd no. . (1,3,5, .. .. ,'37) : $1 3 8 38