Thread: Roulette Problem

Playing roulette in a casino, you bet $5 on the number 8. If 8 occurs, you win $175 and get your $5 back. If 8 does not occur, you lose your $5 bet. a) What is your expected gain for this game? b) What is the house percentage? The Roulette has 38 numbers.

Originally Posted by Kcat777

Playing roulette in a casino, you bet $5 on the number 8. If 8 occurs, you win $175 and get your $5 back. If 8 does not occur, you lose your $5 bet. a) What is your expected gain for this game? b) What is the house percentage? The Roulette has 38 numbers.

Apply the usual formula for expected value. What have you tried? Where are you stuck?