The Adventures of MDawg (in progress)

[tableplay]

The average bet on winning hands should be greater than $1.047 for each $1 bet on losing hands.

So for 20 winning hands, if the player bets $1 on 19 hands, and $2 on one hand, then his average bet for those 20 winning hands will be $1.05.

Is that correct?

Yes that's correct.