This preview shows page 1. Sign up to view the full content.
Unformatted text preview: observed relative frequencies of red, black, and green results will approach the corresponding theoretical probabilities 9 19 , 9 19 ,and 1 19 after many bets. In the long run, on average, the casino will make a profit of about 5.26 cents for every dollar bet by players in red / black bets. We say that the house advantage is 5.26%; see the margin essay You Bet on p.140 . How do you maximize your chances of winning a huge amount of money?...
View Full
Document
 Fall '09
 KIM
 Probability

Click to edit the document details