Re: Putting it on red
When it lands on black, you lose that stake, but when it lands on red you win it back again. If there were no "0" or "00" pockets, then P(R) = 0.5, and E(R) = 0*.
For a wheel with 38 pockets, P(R) = 0.47ish, E(R) = -0.05ish.
IE, if you had a million pounds, and made 1000 bets on red, each of £1000, you would expect to have £950,000 at the end of the process.
* In fact, this is true of every bet on the roulette table. With no nul pockets, every bet pays its probability in odds.
Biting the hand that feeds IT
