Question

in a game of roulette, there are 18 red numbers, 18 black numbers, and 2 green numbers. you may bet on red or black, but not green. if you win a $1 bet on the color, the house pays you $1. what is the expected value of each $1 you play at this game

Answer 1

expected value:

1(36/38) . So you lose money.

Answer 2

-$.05