In the game of roulette, a player can place a
$66
bet on the number
77
and have a
StartFraction 1 Over 38 EndFraction138
probability of winning. If the metal ball lands on
77,
the player gets to keep the
$66
paid to play the game and the player is awarded an additional
$210210.
Otherwise, the player is awarded nothing and the casino takes the player's
$66.
What is the expected value of the game to the player? If you played the game 1000 times, how much would you expect to lose?