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Clarification:

I meant to say that you should divide the payout by ten to get the proper payout ratio for game option 2.

So for Option 1 you should pay them $41.7, $69.4, $115.7, etc...

For Option 2 you should pay them one tenth of the above -i.e. $4.17, $6.94, $11.57, etc.... Option 2 is then structured as you originally envisioned the game.

Also the column names are:
1. # of reds in a row picked

2. Probability of # reds in a row picked (all independent, expect last one)

3. Pay ratio odds

4. Payout on $10 bet (if they pick number before game starts -> divide this number by ten if using your original system)

5. Total payout after 1000 trials - using $10 bets

Sorry for the confusion