In American roulette, there are 38 spaces on the wheel: 0, 00, and 1–36. Half the spaces numbered 1–36 is red, and half is black. The two spaces 0 and 00 are green. Simulate the playing of 1000 games betting either red or black (which pay even money, 1:1). Bet $1 on each game and keep track of your earnings. What are the earnings per game betting red/black according to your simulation? What was your longest winning streak? Your longest losing streak?
Simulate 1000 games betting green (pays 17:1, so if you win, you add $17 to your kitty, and if you lose, you lose $1). What are your earnings per game betting green according to your simulation? How does it differ from your earnings betting red/black? What was your longest winning streak betting green? Longest losing streak? Which strategy do you recommend using, and why?