Question: Finding Expected Value in Craps When you give a casino $5 for a bet on the pass line in the game of craps, there is

Finding Expected Value in Craps When you give a casino $5 for a bet on the “pass line” in the game of craps, there is a 244 495 probability that you will win $5 and a 251 495 probability that you will lose $5. What is your expected value? In the long run, how much do you lose for each dollar bet?

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