#Math noob question

9 messages · Page 1 of 1 (latest)

next minnow
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Given a €100 bet. With 32,1% chance to win €350 and 67,9% chance to lose your bet.

How do i calculate if this bet is profitable or not in the long run? Expected Value.

Hope im not a bother, thanks in advance 🙏

stuck owlBOT
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languid carbon
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expected value is 0.321×350+0.679×0 which is €112.35

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meaning over time you are expected to gain

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@next minnow

next minnow
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Makes total sense, thank you so much! 😁

languid carbon
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np

next minnow
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+close