races

win (0.7) $2.05

lose (0.3)

$2.50

1.00

Belle win (0.1) Take insurance $2.05

$2.05

Jeb

$1.60

$7

lose (0.9) $1

Don’t take insurance

win (0.7) $0.40

Belle

$0.40

$1

lose (0.3)

Jeb

$-1

$0.1

win (0.1) lose (0.9)

$10

$-1