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The odds are set so that the longer you play, the more probable it is you will lose. Its like betting on a jar with a thousand marbles in it. 600 of the marbles are black and 400 are white. You bet $1 each time a marble is picked and your bet is that a white marble will be picked. If a white marble is picked, you get your $1 back plus an additional $1. As the marbles are being picked, you may be winning at times but ultimately you will lose $200 because there are 200 more black marbles than white marbles. This may seem very simplistic but it is exactly what happens when you play craps.
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Describe using word the probability of winning the the lottery?
The probability of winning a lottery depends on the lottery. The probability of winning the jackpot is extremely small, though the probability of winning something is not quite as tiny.
What are odds of probability of 9 over 11?
For 9 to 11 odds of winning;Probability of winning:0.55, or;Chance of winning:55%
What is probability if odds are 5 to 3?
For 5 to 3 odds of winning; the probability of winning is 0.375 or 37.5%
How is Probability used in the gambling industry?
It depends on what you mean, but here is a basic description of how it works. Payouts in gambling games are based on the probability of winning, but the payout is less than the true probability of winning. Just as a basic example, the odds of rolling a 12 in the game Craps is 1 in 36, but if bet on the 12 and win, you only win 30 times the amount bet. So basically, you would have to make a $1 bet 36 times to win $30.
What is the probability of not winning a game if the probabilty of winning is 2 over 3?
The remaining 1 over 3 is the probability of losing.
