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? asked in Science & MathematicsMathematics · 4 weeks ago

Math Question?

If I put $100 on a sports bet and win, the casino keeps 10% of the winnings. I get my picks from VIP sports... they take 40% of the winnings. If I were to make 10 bets, how many of the 10 would I have to hit to make a profit?

Update:

Basically for every $100 bet and won, I will profit $50

2 Answers

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  • Ash
    Lv 7
    4 weeks ago
    Favourite answer

    Let x = number of winning tickets

    V = winning value = $50

    C = cost of each ticket

    n = total number of tickets

    Expected value,  E = Vx − (n−x)C

    To make a profit we need E > 0

    Vx − (10−x)C > 0

    50x - ( 10 - x)100 > 0

    50x - 1000 + 100x > 0

    150x > 1000

    x > 6.7

    To make profit, you need to win 7 bets

  • billrussell42
    Lv 7
    4 weeks ago

    how much did you win from the first "sports bet" ?

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