Intelligent gamblers can try and beat the house, but the house will fight back. Casinos protect their investment in a variety of ways including surveillance, banning players, and even changing the game rules. Robert J. Marks and Sal Cordova discuss gambling, casino oversight, and “advantage players.” Show Notes 00:31 | Recapping How Don Johnson Cleaned Out Atlantic City 02:48 | Read More ›
In this week’s podcast, “The house always wins in the long run” (June 2, 2022), Walter Bradley Center director Robert J. Marks interviews mathematician, computer scientist, and engineer Salvador Cordova on a subject on which he has strong views: gambling. Marks tells us, “I teach a graduate course on probability and stochastic processes. There I teach the stupidity of casino gambling. In statistics, there’s a theorem called the Law of Large Numbers. It teaches that you can’t win in the long run at casino games. Period. The law of large numbers is a mathematical truth. It’s a law as serious as the law of gravity. It’s why casinos always get rich and the gambler always gets poor. There is a Read More ›