Gambling Mathematics: Why Will The Casino Win in the Long Run

Gambling in a casino and winning once or twice might hook you, but if you play often, there is a very small chance that you would win. Why? Because the games are mathematically designed for the casino to win.

To make it simple, let us use a simple die game for our discussion.  Two dice are rolled. If the sums of the number of dots are 2, 3, 4, 10, 11, and 12, the player wins. If the sums are 5, 6, 7, 8, and 9, the house (the casino) wins. » Read more

The Experimental and Theoretical Probability Series

Last week, we have completed the 5-part Experimental and Theoretical Probability Series. To those who have not read it, below is the list of posts.

  1. Experimental and Theoretical Probability Part 1. This post discusses about the sum of the number of dots of two rolled standard cubical dice.  A spreadsheet is used to simulate the rolling 1000 times and sums are recorded and tallied. A step-by-step instruction in doing the simulation is provided.
  2. Experimental and Theoretical Probability Part 2. This post confirms the findings in Part 1. Two more experiments are conducted — the first one is rolling the dice 2000 times, and the other is rolling it again 3000 times.
  3. Experimental and Theoretical Probability Part 3. The third part is a discussion on why the findings in Part 1 and Part 2 are such.  The ways of getting a particular sum is discussed in this post.
  4. Experimental and Theoretical Probability Part 4. The fourth part discusses the relationships between the experiments and the findings in Part 3. The formal definitions of Experimental and Theoretical probabilities are also discussed here.
  5. Experimental and Theoretical Probability Part 5. The fifth part summarizes the series and give real-life examples that use experimental and theoretical probability.

I hope you have enjoyed reading this series. Watch out for more Math and Multimedia Tutorial Series.

Experimental and Theoretical Probability 5

This is the fifth and the final part of the Experimental and Theoretical Probability Series.  In this post, we are going to summarize what we have discussed in the previous four posts, and we are going to talk about some  real-life applications of experimental and theoretical probability.

Standard Cubical Dice

Experimental Probability, as we have discussed in the fourth part of this series, may be obtained by conducting experiments and recording the results. It is the ratio of the number of times an  event occurs to the total number of trials. In the first part of this series, we experimented rolling to dice 1000 times (via a spreadsheet) and we tallied the sums.  We recorded the that sum 2 occurred 29 times out of 1000 trials. We can say that the experimental probability of getting a 2 from that particular experiment is 29/1000. » Read more

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