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content area top Part 1 Suppose a bookie will give you $2 for every $1 you risk if you pick the winners in three games

content area top Part 1 Suppose a bookie will give you $2 for every $1 you risk if you pick the winners in three games of a sport on a "parlay" card. Thus, for every $1 bet, you will either lose $1 or gain $1. What is the bookie's expected earnings per dollar wagered

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