If casino five card stud were fair, how much should it pay to a player who bets $10 and gets a full house versus a dealer who gets two pair? The odds against getting a full house in five card stud are about 693 to 1.© BrainMass Inc. brainmass.com October 10, 2019, 12:07 am ad1c9bdddf
Please see the attached Word document.
The first step is to convert the odds to probability. You can think of the odds provided as a total of 694 outcomes; 693 of the outcomes are not a full house and only one of them results in a full house. The probability of a player getting a ...
This problem shows how to use the expected value of a discrete probability distribution to find a fair bet in five card stud.