chance of profiting spin the wheel where numbers 1 to 10 and if I bet $1 I win $8 plus my $1 bet making a total of $9 return.
So my idea would be to bet on 8 numbers there by giving me 80% chance of winning a profit of $1 and 20% chance of losing $8 would this be a good strategy in the long run? what is the expected value?
So my idea would be to bet on 8 numbers there by giving me 80% chance of winning a profit of $1 and 20% chance of losing $8 would this be a good strategy in the long run? what is the expected value?
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