| The following is brief description of Roulette
Odds. Picture a $1 bet on an individual
number. The probability of hitting that particular
number is 1 in 38, or 37 to 1. Of course the casinos
only pay you 35 to 1, robbing you a bit of what's
rightfully yours. With this shortfall, you know
that in 38 spins you will lose $2. Two dollars
just happens to be 5.26% of the $38 you put into
those spins.
The mathematical formula for expectation reads
as follows:
Expectancy = [probability of a winning outcome
X the amount you would win] + [probability of
a losing outcome X the amount you would lose] |
