The expected profit should be viewed as a long-term thing. Obviously, if you play the game just once, there is no way you can end up with a $0.50 profit exactly you will either lose $1 or win $8. In the above example, you can expect to earn a $0.50 profit on each dice roll. Pay close attention you may not find it easy to grasp. Since the expected profit is positive, you should accept his proposition! Is this a good bet? Let’s see what your expected profit is on a single dice roll:Įxpected Profit = ($8 * 1/6) – ($1 * 5/6) = +$0.50 You clearly have one chance out of six to make the correct call, while having a 5/6 probability of losing. In other words, you must try to predict whether the dice will show 1, 2, 3, 4, 5 or 6. Suppose a guy offers you to bet on the outcome of dice roll. If you or anyone you know has gambling problem, crisis counseling and referral services can be used by calling 1-800-GAMBLER.Expected Profit = (Potential Net Gain * Probability of Winning) – (Potential Loss * Probability of Losing) We reserve the right to modify, update, or change this disclaimer at any time without prior notice. This site is not associated with nor is it endorsed by any professional or collegiate league, association, or team.

While we strive to provide accurate, up-to-date information on all sports news and betting odds, the use of our site is at your own risk. does make use of third-party links for your convenience however, we are not responsible for the content, practices, or policies of these third-party sites. It is your sole responsibility to understand these restrictions prior to making or placing any bets on the third-party services provided. Please be sure to understand the sports gambling and betting laws governing your country, state, or local area as they do vary. Disclaimer: Any and all information found on this site is for entertainment purposes only.

Sports bets and parlays