The casino la bella fortuna is for sale and you think you might want to buy it, but you wantto know how much money you are going to make. all the present owner can tell you is thatthe roulette game red or black is played about 1000 times a night, 365 days a year. eachtime it is played you have probability 19/37 of winning the player's bet of $10 and probability18/37 of having to pay the player $10.

Question

Mathematics

Luis Paul

8 June, 22:25

The casino la bella fortuna is for sale and you think you might want to buy it, but you wantto know how much money you are going to make. all the present owner can tell you is thatthe roulette game red or black is played about 1000 times a night, 365 days a year. eachtime it is played you have probability 19/37 of winning the player's bet of $10 and probability18/37 of having to pay the player $10.

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Answers (1)

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Hamza Hendrix · Answer 1

Expected gain per player per game

10 * (19/37) - 10 * (18/37) = 0.27027

Expected gain per player per night (1000 games per night)

=1000*0.27027

=270.27

Expected gain per player per year (365 nights per year)

=270.27*365

=98648.65

Revenue is 98648.65 times the average number of players per game.