(Step-by-Step) Roulette. A roulette wheel has 38 slots, of which 18 are black, 18 are red, and 2 are green. When the wheel is spun, the ball is equally likely


Question: Roulette. A roulette wheel has 38 slots, of which 18 are black, 18 are red, and 2 are green. When the wheel is spun, the ball is equally likely to come to rest in any of the slots. One of the simplest wagers chooses red or black. A bet of $\$ 1$ on red returns $\$ 2$ if the ball lands in a red slot. Otherwise, the player loses his dollar. When gambles bet on red or black, the two green slots belong to the house. Because the probability of winning $2 is \(18 / 38\), the mean payoff from a $1 bet is twice \(18 / 38\), or 94.7 cents. Explain what the law of large numbers tells us about what will happen if a gambler makes very many bets on red.

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