document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=260716>Question 260716</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If a game were \"fair,\" the payoff on a bet would be the same as the odds for the event. In one game, the odds for winning are 1:13. If the game were \"fair,\" what would the payoff be for a $5 bet? Of course, game in casinos are designed to make a profit for the casino investors. Supposing the casino makes the payoff at 1:11 odds, what profit does the casino make on your winning bet? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #192074 by </B><A HREF=/tutors/aboutme.mpl?userid=edjones><B>edjones(8007)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=edjones><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=edjones><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=192074\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 1-13 means that out of every 14 events the bettor loses 13 $1 bets and wins one payoff of $13.<BR>\n" );
document.write( "If the payoff is 11 the bettor loses 13 $1 bets and wins 1 payoff of $11 for a net loss of $2.<BR>\n" );
document.write( "2/14=1/7= 14 2/7% profit the casino makes.<BR>\n" );
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document.write( "Ed </SPAN>\n" );
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