Question 231993
Expected value is given as
{{{expectedValue = probabilityOfWinning * payoff - probabilityOfLosing * betAmount}}}
So plugging the numbers given
{{{eV = (244/495)*5 - (251/495)*5}}}
{{{ev = -(7/495)* 5}}}
{{{ev = -0.071}}}
So you can "expect" to lose just over 7 cents on each bet.

The moral of the story ... the house always wins.