In the game of roulette a player can place a 4 bet on the nu

In the game of roulette, a player can place a $4 bet on the number 1 and have a 1/38 probability of winning. If the metal ball lands on 1, the player get to keep the $4 paid to play the game and the player is awarded $140. Otherwise, the player is awarded nothing and the casino takes the player

Solution

E(x) = 140(1/38) + (-4)37/38) = (210-222)/38 = -8/38 = -$0.21526
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If you played the game 1000 times, how much would you expect to lose?

Ans: 1000(-0.21) = $210.526