Math in Gambling and Betting

Introduction

Math is everywhere in our life, it is related to every items around us. Nowadays, a lot of people go to casinos or buy the lottery tickets to test their "luck." But is there really the so-called luck help the gamblers win anything? The answer is absolutely "No." Even though people call the first couple rounds lucky win the beginner's fortunate, luck still doesn't exist. It is more likely to be called odds or possibilities that help the gamblers win in the bets. And odds or possibilities are directly related to math. So in order to win, we have to understand the odds which is the math behind gambling and betting.

For example, Black Jack. The most simple and popular gambling games due to the easy rules. But the math in this game is definitely not as simple as we thought. If the casino using one deck of card which is totally 52 cards (without jokers). Saying that the gambler has an total of 18 right now, the ideal condition is the we are at a single table and dealer doesn't have any cards that is A, 2, or 3. So the gambler will have about 23 percent of chance to get an A or 2 or 3. But knowing the odds that we keep going and get other cards then lose the round are still near 77 percent, which it does sound like a mission impossible to get those cards we want. It's probably better for gamblers to stay for this round. Also, in a casino, dealer wouldn't use one deck of cards to play black jacks with you, which create more random possibilities for the rounds and it also avoid those gamblers who are counting the cards to calculate the odds of the gamble.

Also, there are no definite possibilities, sometimes even we calculate the odds and we have over ninety percent of chance to get the cards we want there are also variance in the game, random situation happens and we might lose the round because the odds happened in the other 10 percent. Because the odds don't always go in the right pattern. And that's what make gambling always be uncertain and exciting. Using an easy illustration, the possibility of guessing the side of the coin, heads or tails. Logically, the chance of having the right guess of the side is 50 percent, which should be an easy guess. But in fact, the results wouldn't be heads, tails, heads, tails in order. It can be totally random, if we are betting money on the results, we don't actually go with a possibility pattern. Because the results can be random until with more and more flipping times of the coin; the odds will be evened out.

These examples can be used into a lot of other gambling events. Knowing that the casino has to win in order to remain their business. We should gamble wisely and look at the odds in multiple point of view. Trying to not be a fool to gamble without understanding the basic rules of math behind gambling. With better understanding of the math behind it, we can lose something small in order to bring the bigger profits.

Sources:

• https://www.gamblingsites.com/info/gambling-mathematics/
• https://www.gamblingsites.org/math/
• https://www.investopedia.com/articles/dictionary/042215/understand-math-behind-betting-odds-gambling.asp