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When you give a casino $5 for a bet on the pass line in a casino game of dice, there is a 251/495 probabilities that
When you give a casino $5 for a bet on the pass line in a casino game of dice, there is a 251/495 probabilities that you will lose $5 and there is 244/495 probabilities that you will make a net gain $5. (If you win, casino gives you $5 and you get to keep your $5 bet, so the net gain is $5). What is your expected value? In the long run, how much do you lose for each dollar bet?
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