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Thread: Probability of Winning

  1. #1
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    Probability of Winning

    Hi need some help to understand how the below probability can be determined

    If I pay $100 to play a game where if lose i lose the $100 but in case i win I receive $300 from the dealer. What is the probability of winning if the game is a zero sum game(fair game)

  2. #2
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    Re: Probability of Winning

    In a zero-sum game, your expected winnings over the long term (i.e. many trials) are zero. Do you know how to calculate the expected winnings?

    E = Pwin×AmountwinPlose×Amountlose.

    You also know that Pwin + Plose = 1.

    That is enough info to solve the problem.

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