Originally Posted by

**alexandrabel90** you bet $5 in a game and there is a 251/ 495 probability that you wil lose that $5 and 244/495 probabilty taht you will win that you will win $5. given that your expected value is -7.07 cents, how much would you lose in the long run?

this is my working:

1st round: win -7.07 cents

2nd rounnd: win -7.07 cents

nth round: win -7.07 cents

thus the answer should be a GP of 7.07 /( 1- 7.07) ...

but my answer in my notes states that it is 1.4 cents.

may i know where i have gone wrong? thanks!