Answer:
-$2.63
Step-by-step explanation:
Calculation for the expected profit for one spin of the roulette wheel with this bet
Based on the information given you bet $50 on 00 while the standard roulette has 38 possible outcomes which means that the probability or likelihood of getting 00 will be 1/38.
Therefore when we get an 00, we would get the amount of $1,750 with a probability of 1/38 and in a situation where were we get something other than 00 this means we would lose $50 with a probability of 37/38.
Now let find the Expected profit using this formula
Expected profit = sum(probability*value) -sum(probability*value)
Let plug in the formula
Expected profit =($1,750 * 1/38) - ($50 * 37/38)
Expected profit=($1,750*0.026315)-($50×0.973684)
Expected profit= 46.05 - 48.68
Expected profit = - $2.63
Therefore the expected profit for one spin of the roulette wheel with this bet will be -$2.63
