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Recall that in the martingale doubling system (see Exercise 1.1.10), the player doubles his bet each time he loses. Suppose that you are playing roulette

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Recall that in the martingale doubling system (see Exercise 1.1.10), the player doubles his bet each time he loses. Suppose that you are playing roulette in a fair carino where there are no 0's, and you bet on red each time. You then win with probability 1/2 each time. Assume that you enter the casino with 100 dollars, start with a 1-dollar bet and employ the martingale system. You stop as soon as you have won one bet, or in the unlikely event that black turns up six times in a row so that you are down 63 dollars and cannot make the required 64-dollar bet. Find your expected winnings under this system of play.Note: Your answer is assumed to be reduced to the highest power possible. Your Answer: x10

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