If you bet a dollar on a single number on the roulette and that number comes up,

Question

If you bet a dollar on a single number on the roulette and that number comes up, you get your dollar back and win 35 dollars. If any other number comes up, you lose your dollar. Gamblers say that a single number pays 35 to 1. In the box model, there are ________________ tickets showing  and _____________ tickets showing .
Suppose you play roulette 50 times, betting a dollar on the number 17 each time, your net gain is like the sum of _____________ draws made at random with replacement from the box model above.

Explanation / Answer

Ans:

1 ticket shows $35.00 and 37 tickets show -$1.00.

Playing 50 times is like the sum of 50 draws made at random with replacement.

50*(35*(1/38)) + 50*(-1*(37/38)) = -2.63

In order to break even on this game, for a large number of plays, the payoff would need to be $37 for a $1.00 bet.

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