What Mathematics Fields Are Key to Understanding Gambling?

  • Context: Undergrad 
  • Thread starter Thread starter Winzer
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    gambling Mathematics
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Discussion Overview

The discussion revolves around the fields of mathematics that are essential for understanding gambling, focusing on theoretical aspects such as combinatorics, statistics, and probability.

Discussion Character

  • Exploratory, Technical explanation

Main Points Raised

  • Some participants suggest that combinatorics, statistics, and probability are key fields of mathematics for studying gambling.
  • One participant notes that discrete probabilities, such as gambling odds, are often derived using combinatorics.
  • Another participant shares a resource, a website focused on probability and gambling.
  • A further contribution includes a link to an online book by Edward Thorp, highlighting his work on blackjack.

Areas of Agreement / Disagreement

Participants generally agree on the importance of combinatorics, statistics, and probability in understanding gambling, but there is no detailed exploration of differing views or additional fields.

Contextual Notes

The discussion does not delve into the specific applications or limitations of the mentioned mathematical fields in gambling contexts.

Who May Find This Useful

Individuals interested in the mathematical foundations of gambling, particularly those exploring probability and combinatorial strategies.

Winzer
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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
 

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