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Shanavia
Apr 15, 2014, 11:41 AM
A game, which costs $1 to play consists of drawing a card from a deck of 52 cards. If the card is an ace, you win $5. If the card is a face card, you win $2. And, if the card is any other card, you lose. What is the dealer's edge in this game?

AK lawyer
Apr 15, 2014, 12:02 PM
Assuming each card in the deck is drawn once, and assuming a standard deck, the player(s) will pay $1 x 52 = $52.

The dealer will pay as follows:
(for the aces) $5 x 4 = $20
(for the face cards) $2 x 12 = $24.

$52 / $24 = 2.16666