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One version of roulette has a wheel with 38 numbers in 38 equally spaced slots. Half of the numbers from 1 to 36 are red
One version of roulette has a wheel with 38 numbers in 38 equally spaced slots. Half of the numbers from 1 to 36 are red and the other half are black. The numbers 0 and 00 are green. Consider a $1 bet on black. If black comes up, you are returned $2; otherwise, you lose your $1 wager. 1) Find the expected return. 2) What would the payoff be for a fair game?
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