Essay
If a game were "fair," the payoff on a bet would be the same as the odds for the event. In one game, the odds for winning are 1:13. If the game were "fair," what would the payoff be
for a $5 bet? Of course, games in casinos are designed to make a profit for the casino
investors. Supposing the casino makes the payoff at 1:11 odds, what profit does the casino
make on your winning bet?
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In a "fair" game the payoff wo...View Answer
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Correct Answer:
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