paradise (aka pair'o'dice)

[Felipe]

I'm trying to come up with the EV of a game I'm working on. The game involves a player paying me $5 to roll a pair'o'dice once. The payout is as follows:

roll 2; win $50
roll 7; win $5 (money returned to player)
roll 11; win $15

On a roll of "2" for example, I shouldn't calculate -$50, i should calculate -$45 because the user paid me $5 to play in the first place.

The math I have is:

45(1/36) + 0 (6/36) + 10 (2/36) = $1.80
These are my "loses" per roll.

5(27/36) = $3.75
These are my "gains".
$3.75 average gains per roll.

3.75 - 1.08 = $2.67

Net per roll = $2.67

Am I even close?

[LetYouDown]

I believe you're exactly correct, except that you have 1.08 instead of 1.80 when you computed it. 1.80 isn't exact, as there's a repeating 5 afterward...but I believe you're correct. Correcting the error, you're at a net of:

1.944 (4 repeating) per roll.

[Skipbidder]

Why not just pull and gun out and ask for their wallet?
This "game" is pure theft as you present it.

There are 36 possible rolls. For these 36 rolls, pay 36 x $5 is $180
One roll gets you a 2. $50
Two rolls get you an 11. 2 x $15 = $30
Six rolls get you a 7. 6 x $5 = $30
$110.
-$70 over 36 rolls.
-$1.94 per roll for the sucker.

[Felipe]

Ok. good I was right. Except for the 1.08 vs 1.80 part. Good eye! And, yes, this is pure theft - just like a casino steals. [img]/images/graemlins/wink.gif[/img]

[Yads]

[ QUOTE ]
Ok. good I was right. Except for the 1.08 vs 1.80 part. Good eye! And, yes, this is pure theft - just like a casino steals. [img]/images/graemlins/wink.gif[/img]

[/ QUOTE ]

Except there are no bets at the casino where the edge is 40%