One Saturday afternoon, as Jack, now a full-fledged member, entered the Snake Eyes Dice Club in River City, he saw four persons throwing dice at a felt-covered table with Vince, the dealer.
“What’s up today, Vince?” asked Jack.
“Let me introduce you to Simon, Mary, Seamus and Henry here,” said Vince.
Polite hellos and smiles were exchanged.
“We’re playing a new game called “First Ace,” explained Vince.
“And how does it work, Vince?”
“Well, each person gets to throw a die in turn and the first one to get an ace wins the pot,” explained Vince. “If nobody throws an ace, I get the pot.”
“What does it cost to play the game?”
“Each player adds ten dollars to the pot per round, and I add 36 dollars,” said Vince.
“Interesting… Is this an honest game, Vince?” asked Jack, giving a skeptical look.
“As honest as most gambling games,” replied Vince with a smug wink.
“Sure, Vince. I’ll be heading for the lounge.”
Jack walked off, leaving Simon, Mary, Seamus and Henry with worried looks.
After ten rounds of “First Ace” what would you say Vince’s average gain or loss might be?
What about the average respective gains or losses of Simon, Mary, Seamus and Henry after ten rounds?
Is there any big winner in this game? Or big loser?