SOLUTION: Suppose you are playing a game of chance. If you bet $5 on a certain event, you will collect $200 (including your $5 bet) if you win. find the odds used for determining the payoff?
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Question 260717: Suppose you are playing a game of chance. If you bet $5 on a certain event, you will collect $200 (including your $5 bet) if you win. find the odds used for determining the payoff?
Answer by edjones(8007) (Show Source): You can put this solution on YOUR website!
195/5=39
39 to 1 are the odds against winning. You lose 39*$5=195 and you win $195 once.
.
Ed
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