What is the expected return to a red or a black bet

Reference no: EM13904601

A standard roulette wheel has an array of numbered compartments referred to as "pockets." The pockets are red, black, or green. The numbers 1 through 36 are evenly split between red and black, while 0 and 00 are green pockets. For every $1 that one bets on red, one wins $1 if the roulette ball l and son red and loses if it lands otherwise. Similarly for black. What is the expected return to a red or a black bet? Why?

Reference no: EM13904601

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