You decide that you will spend an entire day playing roulette and just betting on the "double street" which is a bet on two side-by-side rows of 3 values on the roulette table. You win the bet if any of your 6 numbers come up, but you lose otherwise. This type of bet has a 5:1 payoff. You decide that you will be making $5 bets.
What is the expected value of this betting strategy?
If you end up making a total of 200 bets of this type, how much money would you expect yourself to have won or lost at the end of the day?