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Roll the Dice

Some musings from the NY Times NumberPlay here. The   first game is fair but needs a lot of capital and the second is maniestly unfair. The following are 100 simulations of 10000 plays: msegamble1   An alternative offered up from a comment: Tellyouwhat,I′llgiveyouadiscounttomakeiteven.Insteadofrisking18, if you give me 15, I′ll let you roll six times,and I′ll pay you 12 for each 6 you roll.” is also unfair: for every 15 dollars paid the expected return is 12 dollars. 10000 siumulations shows net gain (mean -3): msegamble2

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