Problem
A man went to Atlantic City with $500 and placed 100 bets of $5 each, one after another, on the same number on the roulette wheel. There are 38 numbers on the wheel, and the gaming casino pays 35 times the amount bet if the ball drops into the bettor's numbered slot in the roulette wheel. In addition, the bettor receives back the original $5 bet. Estimate how much money the man is expected to win or lose in Atlantic City.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.