Question

Whats the gamble formula

Answer 1

$\quad\quad\quad\quad\huge\tt{Answer \: ☕}$

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The formula looks like this:

• (Probability of Winning) x (Amount Won per Bet) – (Probability of Winning) x

• (Amount Won per Bet) – (Probability of Losing) x (Amount Lost per Bet).

So, in our example we would plug in these variables, a 50% chance of winning, winning $6, a 50% chance of losing, and $5 lost.

The formula for expected value =

• (fair win probability) x (profit if win) - (fair loss probability) x (stake).

This is the formula in the OddsJam sports betting expected value calculator.

$\LARGE \tt{Example: \color{purple}{ Amount \: of \: Win}}$

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$\quad\quad\quad \large\tt{Solve \: for \: \color{red}{Amount \: of \: Win}}$

$\quad\quad \quad\quad \large\tt{x = Amount \: of \: Win}$

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$\quad\quad\quad \implies\sf{0 = \frac{2}{3} * \times - .50}$

$\quad\quad\quad\implies\tt{0 + .50 = \frac{2}{3}* \times - .50 + .50 }$

$\quad\quad\quad\implies\tt{0 + .50 = \frac{2}{3} * \times + 0}$

$\quad\quad\quad\implies \color{blue}\boxed{ \tt \color{red}{.50 = \frac{2}{3}* \times }}$

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Therefore, the amount of win is $\tt{.50 = \frac{2}{3}* \times }$

$\large\tt{From: \: \#Brainly.PH}$

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