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Ages 10+ · Money · Spending wisely
Gambling and odds
Put in 1 coinSpin the wheelGold: 6 coinsbackPlain: nothingback
One spin of the Lucky Wheel.
The big ideaOdds are counted, and a wheel with one winning slot in ten favours its keeper.

How it works

At the fair, Mr. Odd's Lucky Wheel has ten equal slots: nine plain and one gold. One coin buys a spin, and gold pays six coins back.

Counting the slots gives the odds: one gold slot out of ten is one chance in ten to win.

On average, ten spins put in ten coins and give back six, so the stall keeps four. Whoever runs a game like this is called the house.

A short run can look different, but over many turns the house keeps more than it pays out. Odds decide the long run, not luck. It is not a way to get money.

Fifty spins at the Lucky Wheel0102030405050Coins in30Coins out20Coins keptcoins
Fifty spins: the stall keeps twenty.
Lucky Wheel• 10 slots, 1 gold• Gold pays 6 coins• Keeps 4 coins in every 10Second wheel• 5 slots, 1 gold• Gold pays 4 coins• Keeps 1 coin in every 5
Two wheels.

Example 1: Counting the odds

  1. The wheel has 10 equal slots, and 1 is gold.
  2. One gold slot out of ten is one chance in ten.

Example 2: Ten spins

  1. 10 spins cost 10 coins.
  2. On average 1 spin in 10 lands on gold and pays 6 coins.
  3. 10 − 6 = 4
  4. The stall keeps 4 coins.

Example 3: A hundred spins

  1. 100 spins cost 100 coins.
  2. About 10 spins land on gold, and each pays 6 coins: 10 × 6 = 60
  3. 100 − 60 = 40
  4. The stall keeps 40 coins.

Example 4: The second wheel

  1. It has five slots, one gold, and gold pays 4 coins.
  2. 5 spins cost 5 coins, and on average 4 come back.
  3. 5 − 4 = 1
  4. The stall still keeps 1 coin in every 5.

Words to know

odds
Gold slots out of all slots: how many chances to win.
house
Whoever runs the game.
on average
What happens over many turns, not on one.
slot
One equal part of the wheel.

Watch out

Try it

  1. A wheel has 20 equal slots and 1 gold. What are the odds of gold?
  2. Ten spins put in 10 coins and give back 6. How many coins does the stall keep?
  3. Kit wins on his first spin. Is the next spin more likely to win?
  4. Over many turns, who keeps more: the player or the house?
Answers: 1. One in twenty · 2. 4 · 3. No · 4. The house
Try at homeWith a grown-up, talk about games where you put in coins and might get some back. Ask what rules your place has about them, and count the odds together on the pretend wheel.
For grown-upsThis is about counting chances on a pretend wheel, never about playing. Count the slots together and talk about why a game built this way is not a way to get money. Ask what rules your place has about games with coins.
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