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Suppose any one round of a gambling game pays 3 to 1 and the odds are...

Suppose any one round of a gambling game pays 3 to 1 and the odds are 4 to 1 against you. If you play for 100 rounds and bet one dollar on each round, what is the chance you will come out ahead?

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Answer #1

Given that:

One round of a gambling game pays 3 to 1

And the odds are 4 to 1 against you

You play for 100 rounds and bet one dollar on each round

What is the chance you will come out ahead

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