Basic Gambling Mathematics: The Numbers Behind the Neon, Second Edition explains the mathematics involved in analyzing games of chance, including casino games, horse racing and other sports, 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.
New to the Second Edition
- Thorough revision of content throughout, including new sections on the birthday problem (for informal gamblers) and the Monty Hall problem, as well as an abundance of fresh material on sports gambling
- Brand new exercises and problems
- A more accessible level of mathematical complexity, to appeal to a wider audience.
This book explains the mathematics involved in analyzing games of chance, including casino games, horse racing and other sports, and lotteries. It is also suitable as a textbook for an introductory course on probability. Numerous examples and end-of-chapter exercises illustrate the mathematical ideas in a range of casino games.
1. Fundamental Ideas. 1.1. Historical Background. 1.2. Mathematical
Background. 1.3. Definitions. 1.4. Axioms of Probability. 1.5. Elementary
Counting Arguments. 1.6. Exercises.
2. Combinatorics and Probability. 2.1.
Advanced Counting Arguments. 2.2. Odds. 2.3. Addition Rules. 2.4.
Multiplication Rules and Conditional Probability. 2.5. Exercises.
3.
Probability Distributions and Expectation. 3.1. Random Variables. 3.2.
Expected Value and House Advantage. 3.3. Binomial Distribution. 3.4.
Exercises.
4. Modified Casino Games. 4.1. Wheel Games. 4.2. Dice Games. 4.3.
Card Games. 4.4. Casino Promotions. 4.5. Exercises.
5. Blackjack: The
Mathematical Exception. 5.1. Rules of Blackjack. 5.2. Mathematics of
Blackjack. 5.3. Basic Strategy. 5.4. Introduction to Card Counting. 5.5.
Additional Topics in Card Counting. 5.6. Exercises.
6. Betting Strategies:
Why They Dont Work. 6.1. Roulette Strategies. 6.2. Craps Strategies. 6.3.
Slot Machine Strategies. 6.4. And One That Does: Lottery Strategies. 6.5. How
To Double Your Money. 6.6. Exercises. Appendix A: House Advantages. Answers
to Selected Exercises.
Mark Bollman is Professor of Mathematics and chair of the Department of Mathematics & Computer Science at Albion College in Albion, Michigan, and has taught 116 different courses in his career. Among these courses is "Mathematics of the Gaming Industry," where mathematics majors carefully study the math behind games of chance and travel to Las Vegas, Nevada, in order to compare theory and practice. He has also taken those ideas into Albion's Honors Program in "Great Issues in Humanities: Perspectives on Gambling," which considers gambling from literary, philosophical, and historical points of view as well as mathematically. Mark has also authored Mathematics of Keno and Lotteries, Mathematics of Casino Carnival Games, and Mathematics of The Big Four Casino Table Games: Blackjack, Baccarat, Craps, & Roulette.
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