Chuck-a-luck is one of the popular gambling game often played in the casino. A gambler may place his bet on any one of the number from 1 to 6 and then three dice are rolled. If the number bet by the gambler appears on one, two or three of the dice, then he receives one, two or three times of his bet respectively plus his own bet. Suppose that a gambler bets $1 at number one, what is the expected win/lose per game?
Want to check my answer: Expected Win = -1(125/216) + 1(75/216) + 2(15/216) + 3(1/216) = -(17/216) ≈ -0.08
On average, we should expect to lose approximately $0.08 each time you play a round of the game.