Answer to question isn't right maybe?
Hey guys, so I saw this on the website/linkdin. And I didn't know how to put a comment on it. But I think the answer here is wrong. In two scenarios. Firstly, if it is a roulette, than you get double your money each time you win. So the caculation would be:
- 0.45 * 2 (because you double your money when you win) = $0.90.
So, for every dollar you bet, on average, you will get back $0.90. This means you're losing $0.10 on every dollar bet.
If you bet a total of $2000:
- Expected returns from bets = $2000 * $0.90 = $1800.
Now, you started with $1000 and you bet all of it, and then you received and bet an additional $1000. This means that out of your initial $1000, you now have:
- $1000 + ($1000 - $2000) + $1800 = $800. And then you add in the 200. It would thus break even.
Another scenario would be if you would get 45% on your money when you win. This would give the following caculation:
- If you win (which happens 45% of the time), you get $0.45.
- If you lose (which happens 55% of the time), you lose $1.
So, the expected value for every dollar you bet is:
- $0.45 * 0.45 (because you win 45% of the time) - $1 * 0.55 (because you lose 55% of the time) = -$0.2025.
This means that for every dollar you bet, on average, you will lose $0.2025.
If you bet a total of $2000:
- Expected losses = $2000 * $0.2025 = -$405.
Now, you started with $1000. After betting a total of $2000, you will lose $405 from this, leaving you with:
- $1000 - $405 = $595.
Finally, adding in the $200 bonus:
- $595 + $200 = $795.
So, with these conditions, after all the betting and considering the bonus, you would be left with $795, so a net loss of $205.
Correct me if I 'm wrong guys. I just wanted to figure out what the right answer is.
Thanx in advance
Dolores quia labore voluptas rerum perferendis error sint omnis. Incidunt quae et quae placeat. Dolor laborum est vero et itaque aut sed.
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