Mind Matters Natural and Artificial Intelligence News and Analysis

TagLaw of Large Numbers and gambling

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A group of people playing gambling in a casino

Gambling: When advantage players team up, dealer beware!

On the other hand, the movie industry has made a good thing from films of the legendary exploits

Gambling has got to be a slam dunk exciting premise for films. Once again, mathematician, computer scientist, engineer — and part-time gambler — Salvador Cordova joins fellow engineer and Walter Bradley Center director Robert J. Marks to talk about gambling and probability — how hard math types (advantage players) like himself have beaten the odds without cheating. And, this time, they discuss how their skills while working together can wind up as a movie. From Robert J. Marks in Card Counting Strategies and Dangers (podcast): https://mindmatters.ai/wp-content/uploads/sites/2/2022/06/Mind-Matters-News-Episode-192-Sal-Cordova-Episode-4-rev1.mp3 This portion begins at 00:23 min. A partial transcript and notes, Show Notes, and Additional Resources follow. Robert J. Marks: Have you ever taken advantage of your skills embedding with other people? … Sal…

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Casino BlackJack

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…

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Multi Casino Games Concept

Gambling: WHY the House Always Wins in the Long Run…

The casinos are not cheating. They rely on the Law of Large Numbers, part of the mathematical structure underlying our universe

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…