13: Games of Chance

Probability, Mathematical Statistics, and Stochastic Processes · LibreTexts

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    From LibreTexts, under CC BY 2.0, as the source states it; its equations are written in TeX, which the PDF shows typeset. This page at LibreTexts.

    Games of chance hold an honored place in probability theory, because of their conceptual clarity and because of their fundamental influence on the early development of the subject. In this chapter, we explore some of the most common and basic games of chance. Roulette, craps, and Keno are casino games. The Monty Hall problem is based on a TV game show, and has become famous because of the controversy that it generated. Lotteries are now basic ways that governments and other institutions raise money. In the last four sections on the game of red and black, we study various types of gambling strategies, a study which leads to some deep and fascinating mathematics.

    This page titled 13: Games of Chance was last modified on Tue, 05 May 2020 20:56:38 GMT and is shared under a CC BY 2.0 license and was authored, remixed, and/or curated by Kyle Siegrist (RandomServices) via source content that was edited to the style and standards of the LibreTexts platform.