Dont pass bettor has a more favorable bet than the roller

Assignment Help Basic Statistics

Reference no: EM13970264

On September 26, 1980, the New York Times reported that a mysterious stranger strode into a Las Vegas casino, placed a single bet of 777,000 dollars on the "don't pass" line at the crap table, and walked away with more than 1.5 million dollars. In the "don't pass" bet, the bettor is essentially betting with the house. An exception occurs if the roller rolls a 12 on the first roll. In this case, the roller loses and the "don't pass" better just gets back the money bet instead of winning.

Show that the "don't pass" bettor has a more favorable bet than the roller.

Reference no: EM13970264

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