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How to calculate your chance of winning: Roulette Example

Roulette Example

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Casino Gambling in history

1. The game we play is roulette. Say we bet $10 on Black.
2. There are, 0 to 36, so 37 possible outcomes. The possible outcomes are anyone of 18 possible Blacks, or anyone of 18 possible Reds, Or Green (don't forget that with roulette the zero is Green).
3. 18/37 = 0.486 Red or Black
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1/37 = 0.027 Green
4. So $10 on Black gives:

0.486 * 100 = 48.6% chance of doubling your money
0.486 * 100 = 48.6% chance of losing your money
0.027 * 100 = 02.7% chance of a push.

The type of event, I mean by that not just the casino game you want to play, but also what bet you are placing.

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