[yellowjack]

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You guys who are using probabilities have this wrong. The odds are actually 7.5:1.. I was crapping my pants at first, thinking this was an oversight on party's part, until I realized it's 8 FOR 1. BUMMMMER.

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I hope this clears things up. Here is party's EV for $1 wagered on red (black is the same):

P(all red) = (26/52)*(25/51)*(24/50) = 2/17 = 1/8.5
Payoff: -$7
P(not all red) = 1 - P(all red) = 7.5/8.5
Payoff: +$1

EV: (1/8.5)*(-$7) + (7.5/8.5)*(+$1) = +$0.05(8823)

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