To have an analytical baseline to compare results with, I calculated the expected value of betting on red (using $5 bets). In this project, I explore how to calculate expected value using the monte carlo method and how using a popular betting method affects our results.
To explore this concept, I created a simulation of a roulette game in Wolfram Mathematica. The Monte Carlo method works by using a known probability distribution and drawing from it a specified number of times. Roulette Simulation Using the Monte Carlo Method
