Basic Gambling Mathematics: The Numbers Behind the Neon

This insightful book delves into the mathematics that underpins games of chance, including casino favorites, horse racing, and lotteries. It equips readers with a clear understanding of why certain gambling games offer better odds for players, making it an excellent resource for introductory probability courses.

In addition to exploring the math behind popular casino games, the author investigates various game variations that have been proposed or implemented in real casinos. Numerous examples clarify mathematical concepts across a wide range of casino games, while end-of-chapter exercises provide practical experience with gambling-related calculations.

The book opens with a concise historical overview and essential mathematical concepts before diving into fundamental results and applications of elementary probability, emphasizing the crucial notion of mathematical expectation. The author addresses probability challenges from diverse games, including roulette, craps, baccarat, blackjack, Caribbean stud poker, Royal Roulette, and sic bo. The concluding chapter examines the mathematics behind “get rich quick” schemes, such as the martingale and the Iron Cross, revealing how straightforward math exposes the weaknesses in these strategies.