What Mathematics Fields Are Key to Understanding Gambling?

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Key mathematics fields essential for understanding gambling include combinatorics, statistics, and probability. Combinatorics is crucial for deriving discrete probabilities, such as gambling odds. Resources like the Wizard of Odds website and Edward Thorp's online book provide valuable insights into probability and strategies for games like blackjack. Mastery of these mathematical concepts can enhance one's understanding of gambling mechanics. Engaging with these resources can significantly improve gambling strategy and decision-making.
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Suppose I am very interested in the subject. What field/s of mathematics would I be studying?
Combinatorics, Statistics and Probability?
 
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Winzer said:
Suppose I am very interested in the subject. What field/s of mathematics would I be studying?
Combinatorics, Statistics and Probability?

Essentially both. Discrete probabilities (gambling odds for example) are frequently derived using combinatorics.
 
This fella' has a pretty good website with info about probability and gambling.

www.wizardofodds.com
 
Also, here's an online book by Edward Thorp, the guy who figured out how to beat blackjack:

http://www.bjmath.com/bjmath/thorp/tog.htm
 

Thread 'Hypothesis testing: Defining H0, HA hypotheses so that ( H_A)_A' makes sense'

The standard _A " operator" maps a Null Hypothesis Ho into a decision set { Do not reject:=1 and reject :=0}. In this sense ( HA)_A , makes no sense. Since H0, HA aren't exhaustive, can we find an alternative operator, _A' , so that ( H_A)_A' makes sense? Isn't Pearson Neyman related to this? Hope I'm making sense. Edit: I was motivated by a superficial similarity of the idea with double transposition of matrices M, with ## (M^{T})^{T}=M##, and just wanted to see if it made sense to talk...
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