Graham is in a casino and decides that he will bet on only even numbers in a card game. An ace is assumed to be the number 1. The game is played with a regular deck of 52 cards. The house rules are that if the card picked is an even number, Graham’s money doubles. If it is an odd number, Graham loses his money. Also, if the card picked is a face card (jack, queen, or king), the dealer replaces the card and picks again. Is this bet a fair one? Why?

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