One of Adam's favorite casino games is called "Craps". In the first round of this game, two fair 6-sided dice are rolled. If the sum of the two dice equal 7 or 11, Adam doubles his money! If a 2, 3, or 12 are rolled, Adam loses all the money he bets.

• What is the chance Adam will double his money in the first round of the game? What is the chance Adam will lose his money in the first round of the game?