The Mathematics of the Casino | What people get wrong about gambling

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Business
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11th Grade - University
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Hard
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Bob's strategy for winning $100 at roulette?
Betting $10 on each number
Betting $1 repeatedly until he wins $100
Betting $100 on Red once
Betting $50 on Black twice
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why does Alice have a low chance of winning $100?
She bets too much money at once
She bets on numbers instead of colors
She has a low probability of winning each bet
She stops betting after one loss
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Carlos's strategy in the casino?
Betting $1000 on Red once
Betting $100 on each number
Betting $1 repeatedly with a large bankroll
Betting $10 on Black until he wins $100
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the house edge?
The amount of money you can win
The probability of winning a game
The expected loss percentage per bet
The number of games you can play
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does the house edge affect your long-term outcomes?
It predicts your average losses over time
It decreases your expected losses
It increases your chances of winning
It has no effect on your outcomes
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which game has a lower house edge, roulette or craps?
Neither has a house edge
Both have the same house edge
Craps
Roulette
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the expected loss if you bet $10 on roulette for 500 spins?
$70.50
$500
$263
$1000
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