 Gambles come in one of two forms, depending on whether we are dealing with the “objective probability” or “subjective probability” version of the theory. In the objective probability version, a gamble is a lottery that assigns probabilities to consequences. Consider, for example, a lottery that yields $100 with probability 0.5, $300 with probability 0.3, and $200 with probability 0.2. We can represent this lottery as {$100, 0.5; $300, 0.3; $200, 0.2}. More generally, lotteries have the form \(L = \{x_1, p_1;\ldots; x_n, p_n\},\) where \(x_i \in \cX\) and \(p_i\) is the probability that consequence \(x_i\) obtains. Lotteries needn’t be restricted to a finite set of consequences; they could instead be continuous.