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Basic Gambling Mathematics: The Numbers Behind The Neon (AK Peters/CRC Recreational Mathematics Series)
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About Basic Gambling Mathematics: The Numbers Behind The
Product Description Understand the Math Underlying Some of Your Favorite Gambling Games Basic Gambling Mathematics: The Numbers Behind the Neon explains the mathematics involved in analyzing games of chance, including casino games, horse racing, and lotteries. The book helps readers understand the mathematical reasons why some gambling games are better for the player than others. It is also suitable as a textbook for an introductory course on probability. Along with discussing the mathematics of well-known casino games, the author examines game variations that have been proposed or used in actual casinos. Numerous examples illustrate the mathematical ideas in a range of casino games while end-of-chapter exercises go beyond routine calculations to give readers hands-on experience with casino-related computations. The book begins with a brief historical introduction and mathematical preliminaries before developing the essential results and applications of elementary probability, including the important idea of mathematical expectation. The author then addresses probability questions arising from a variety of games, including roulette, craps, baccarat, blackjack, Caribbean stud poker, Royal Roulette, and sic bo. The final chapter explores the mathematics behind "get rich quick" schemes, such as the martingale and the Iron Cross, and shows how simple mathematics uncovers the flaws in these systems. Review "Basic Gambling Mathematics: The Numbers Behind the Neon focuses on applying introductory probability theory to a plethora of well-known card games, dice games, casino games, and lottery games, as well as to their many less famous variations. ... This book is appropriate for readers who wish to understand the basics of probability theory, educators who wish to incorporate more concrete and exciting examples into their courses, and garners who wish to understand the mathematics behind their favorite pastimes. With its clear mathematical descriptions and multitude of examples and exercises, this book would even make an excellent supplement to any introductory probability course."―Kathleen Ryan, in Mathematical Reviews Clippings, July 2015 "… the author does an excellent job at contextualizing probabilities and combinatorial quantities … Too many times, introductory probability books leave readers with a feeling that probability should be useful in building strategies for game play, yet these books do not explicitly make this connection for its readers. However, Basic Gambling Mathematics: The Numbers Behind the Neon does indeed make this connection.This book is appropriate for readers who wish to understand the basics of probability theory, educators who wish to incorporate more concrete and exciting examples into their courses, and garners who wish to understand the mathematics behind their favorite pastimes. With its clear mathematical descriptions and multitude of examples and exercises, this book would even make an excellent supplement to any introductory probability course. Moreover, by incorporating visuals, such as diagrams of casino tables and images of old-time punchboards, and by also providing historical background for games, commentary on state gambling laws, and insight into the inner workings of casinos, this book successfully transforms an already fun topic into an even more enjoyable read."―Mathematical Reviews, July 2015 "… it offers advice, backed up by detailed calculations, on standard gambles found in casinos and on the variations used to spice up these games. Most of these ‘extras’ turn out to have a far larger house advantage, but in their zeal to hook in potential customers, casinos may offer bets that favour the punter, or even free bets. Savvy readers can discover here how best to exploit these baits. … Useful tables list the basic data for a variety of games … The final chapter runs through a plethora of general betting strategies that have been suggested and explains their deficiencies patiently
