Question
In a largecasino, the house wins on its blackjack tables with a probability of 50.5%. All bets at blackjack are 1 to1, which means that
In a largecasino, the house wins on its blackjack tables with a probability of 50.5%. All bets at blackjack are 1 to1, which means that if youwin, you gain the amount youbet, and if youlose, you lose the amount you bet.
a. If you bet$1 on eachhand, what is the expected value to you of a singlegame? What is the houseedge?
b. If you played 200 games of blackjack in anevening, betting$1 on eachhand, how much should you expect to win orlose?
c. If you played 200 games of blackjack in anevening, betting $6 on eachhand, how much should you expect to win orlose?
d. If patrons bet $1,000,000 on blackjack in oneevening, how much should the casino expect toearn?
a. The expected value to you of a single game is ______
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