Worked examples / Bets
A $20 ticket, 500 sold, one $2,000 prize.
Expect to lose $16 of the $20.
This is a worked example with illustrative figures, not data about any real person or company. Change any of them in the calculator and the answer changes with them.
How this answer was worked out| You pay | 1 x $20 = $20 |
| Average back per go | 1 in 500 of $2,000 = $4.00 |
| Average back in all | $4 |
| Back per $1 paid | $0.20 |
| Expected loss | $16 |
Every formula is written out on the formulas page.
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