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Tuesday 5 November 2013

The MATH behind GAMBLING

The mathematics behing gamblind are a collection of probability applications encountered in games of chance and can be included in game theory. From mathematical point of view, the games of chance are experiments generating various types of aleatory events, the probability of which can be calculated by using the properties of probability on a finite space of events. Games of chance are also good examples of combinations, permutations and arragements, which are met at every step of the game. Some examples can be the combinations of a set of cards in your hand to form a pair or a flush, combinations of symbols in a slot machine or the combinations of numbers in the lottery.

Combinatorial calculus is an important part of gambling probability applications. The technical processes of a game stand for experiments that generate aleatory events.