Question

In the game of one-spot keno, a card is purchased for $1. It allows a player to choose one number from 1 to 80. A dealer then chooses twenty numbers at random. If the player's number is among those chosen, the player is paid $3.20, but does not get to keep the $1 paid to play the game. Find the expected value of a $1 bet. Describe what this means.

Answer 1

Hewp.

Answer 2

Nvm I got it. You'd lose 20 cents per card you buy.