Basic Gambling Mathematics

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.