uppose you are playing a game where you bet $5 and have a 48% chance of winning. The bet is 1:1. What is the house edge on a single game?

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.7: Probability
Problem 3ECP: You toss two six-sided dice. What is the probability that the total of the two dice is 5?
icon
Related questions
Question

Suppose you are playing a game where you bet $5 and have a 48% chance of winning. The bet is 1:1. What is the house edge on a single game? 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

I don't quite understand how you got 4% because when I did the math I kept get 1%

Solution
Bartleby Expert
SEE SOLUTION
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning