A standard roulette wheel has 38 numbered spaces for a small ball to land in: 36 are marked from 1 to 36, half black and half red, 0 and 00 are green. If you bet $100 on a particular number and the ball lands on that number, you are paid a whopping $3600. What is the expected value of betting $100 on red 9?
You are welcome. As for the answer, it means that when you bet many times on the number 9, you lose approximately $2.63 on each bet. Of course, it is possible that you win an occasional bet but on the average the more you bet, the more you lose. The house eventually wins.