Gambling system at las vegas

Reference no: EM131834736

An individual uses the following gambling system at Las Vegas. He bets $1 that the roulette wheel will come up red. If he wins, he quits. If he loses then he makes the same bet a second time only this time he bets $2; and I hen regardless of the outcome, quits. Assuming that he has a probability of 4 of winning each bet, what is the probability that he goes home a winner? Why is this system not used by everyone?

Reference no: EM131834736

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