wanted to ask the Wizard but.....

I am interested in craps lately. I also used to be handy at maths, so I'm reading the blurb behind the odds etc. One statement confused me and I think it's wrong. I'd like to ask if it is.

from :

"The general probability for the expected return of a bet is:

∑ (probability of event i) × (return of event i) over all events i."


I propose that this is not a formula for "the general probability for the expected return" but more simply just "the expected return". The probability implies that the summation adds up to 1. Clearly it does not add up to 1 or there would be no point in calculating it!

Note: This is picky and not at all relevant to the ultimate point but as I said I am reviewing stuff from years ago here and these sentences can make a difference to me in terms of trying to understand the maths. So it's a maths question really!

Thanks for that correction. I just fixed it to say, "The general formula for the expected return of a bet is:

∑ (probability of event i) × (return of event i) over all possible outcomes."

hey thanks for that!