Question

A player can 'bet on a line" by placing a chip at location A in the figure below. By placing the chip at A, the player is betting on 1,2,3,0,00. This bet pays 1.5 to 1, which means that if a player wins, the player wins 1.5 dollars as well as keeping his or her bet. When the player loses, he or she loses $1. Recall that there are 38 numbers on a roulette wheel. Determine the expected value of betting on the roulette wheel.

Answer 1

Outcome Value Probability
1,2,3,0,00 ? \[\frac{ 5 }{ 38 }\]

Answer 2

Am I starting this correctly