Hi all,
I'm new here and not very good at math at all, hopefully i can get some help with this.
15 people play a game and pay £1, all have an equal chance of winning £20 (1 person wins per game.) So each time the 15 people play they have an expected value of +0.25
Can someone give me some examples on the sort of swings to be expected here, after 100 games what is the chances of being down money? Or whats the chances of losing over lets say, £300?
Thanks
I'm new here and not very good at math at all, hopefully i can get some help with this.
15 people play a game and pay £1, all have an equal chance of winning £20 (1 person wins per game.) So each time the 15 people play they have an expected value of +0.25
Can someone give me some examples on the sort of swings to be expected here, after 100 games what is the chances of being down money? Or whats the chances of losing over lets say, £300?
Thanks