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According to Esquire Magazine, If you want to play roulette, do it in Atlantic C

ID: 2958265 • Letter: A

Question

According to Esquire Magazine,
If you want to play roulette, do it in Atlantic City, where the house lets you "surrender" on the results of 0 and 00 -- that is, it returns half your wager.
A gambler in Atlantic City plays roulette 100 times, staking $1 on red each time. Find the chance that he comes out ahead of the game.
Reminder. The roulette wheel has 38 pockets, numbered 0, 00, and 1 through 36 (figure 3 on p. 282). The green numbers are 0 and 00. Of the other numbers, half are red and half are black. If you bet $1 on red and a red number comes up, you win $1. If a black number comes up, you lose $1. But if 0 or 00 comes up, you only lose $0.50 -- because of the "surrender."

Explanation / Answer

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