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Casinos: How Nerds Gamble and Win, Using the Law of Large Numbers

The American Physical Society created Las Vegas’s worst week in history and Don Johnson cleaned out Atlantic City. How?

In last week’s podcast, “The house always wins in the long run” (June 2, 2022), Walter Bradley Center director Robert J. Marks interviewed mathematician, computer scientist, and engineer Salvador Cordova on the world of gamblers and how they try to improve their odds by physically manipulating dice (dice sliding ) and cards (false shuffling). Meanwhile, the house is relying on the Law of large Numbers, which — being a mathematical law — wins out in the end. Sure, the Law may always win — but perhaps anyone can play it. Where we left the matter last time, in the first portion of this episode, Cordova talked about how “advantage players” try to make it work. In this second segment of…