The game of dots is played by rolling a fair die and receiving $1 for each dot showing on the top face of the die. What cost should be set for each roll if the game is to be considered a fair game?

Answer 1

There is a 1/6 chance of getting any of the numbers 1, 2, 3, 4, 5 or 6.

The median of these scores is 3.5, meaning that by chance 50% of the time you would get above 3.5 and 50% of the time you would get below.

Using that reasoning. it would be fair to charge $3.50 a roll. However, if I were running the game, I would charge at least $4, so I could make a profit.