Question

One option in a roulette game is to bet on the color red or black. What is the expected payback for this game if you bet $10 on red? Round your answer to two decimal places.

a) $5.26
b) $10.00
c) $9.47
d) $0.00

Answer 1

The expected payback for betting $10 on red in a roulette game is $9.47.

Step-by-step explanation:

To find the expected payback for betting $10 on red in a roulette game, we need to consider the probability of winning and losing. In American roulette, there are 18 red slots out of 38 total slots, so the probability of winning is 18/38. If you win, you get back your $10 bet along with an additional $10. If you lose, you lose your $10 bet.

Expected payback = (Probability of winning)(Amount won) + (Probability of losing)(Amount lost)

Expected payback = (18/38)($20) + (20/38)($0) = $9.47

Therefore, the expected payback for betting $10 on red in this roulette game is $9.47.