When you give a casino $5 for a bet on the pass line in a casino game

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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 probability that you will lose $5 and there is a 244/495 probability that you will make a net gain of $5. (If you win, the 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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Statistical Reasoning for Everyday Life

ISBN: 978-0321817624

4th edition

Authors: Jeff Bennett, Bill Briggs, Mario F. Triola

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