Now, why does this make sense? Well, the way you lose, the way you get nothing, is if you get the letter wrong. So you have a 1 in 26 chance of getting the letter right, and then you're going to be in one of these two categories. Or you have a 1 minus 1 in 26, which is equal to 25 out of 26. You have a 25 in 26 chance of getting the letter wrong, in which case you get nothing, in which case you completely lose. So let's just take our calculator out and calculate this. And we'll round to the nearest penny here.