The supervisor at the second job says, “I’ll give you a penny today and double your pay every day for 30 days if you’ll work for
2 answers:
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<h3>The formula looks like this: </h3>- (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.
<h3>The formula for expected value = </h3>- (fair win probability) x (profit if win) - (fair loss probability) x (stake).
This is the formula in the OddsJam sports betting expected value calculator.
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Therefore, the amount of win is
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