Point spread. When taking bets on sporting events, bookmakers often include a point spread that awards the weaker team extra points. In theory this makes the outcome of the bet a toss-up. Suppose a gambler places a

$10 bet and picks the winners of five games. If he s right about fewer than three of the games, he loses. If he gets three, four, or all five correct, he s paid $10, $20, and $50, respectively. Estimate the amount such a bettor might expect to lose over many weeks of gambling.