^TagLaw of Large Numbers and gambling

^{Type
post

Author
News
Date
July 6, 2022

Categorized
Probability

Tagged
Blaise Pascal, Christians who gamble, Exponential law and gambling, Featured, gambling, Holy Rollers: The True Story of Card Counting Christians, Joseph R. Fahey, Keith Taft, Kevin Blackwood, Law of Large Numbers and gambling, Pascal's Wager, Pierre de Fermat, Robert J. Marks, Salvador Cordova, Unfinished Game (book)}

The Holy Rollers: Christians Who Gamble for God

_{Not only have many successful players been Christians, probability theory was developed in part by a philosopher who became a devout Christian} _{News

July 6, 2022

14

Probability}

This last instalment of the writeup of the podcasts with mathematician, computer scientist, engineer — and part-time gambler — Salvador Cordova looks at why and how Christians like himself gamble without cheating. Cordova was one of the crowdfunders of a film on the topic called Holy Rollers (2011). The host is fellow engineer and Walter Bradley Center director Robert J. Marks in “Card Counting Strategies and Dangers” (podcast, June 23, 2022): 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 15:47 min. A partial transcript and notes, Show Notes, and Additional Resources follow. Robert J. Marks: First of all, tell us what the movie was about, and then your involvement. Sal Cordova: It’s about one of the most successful card counting teams, blackjack teams. Read More ›

A group of people playing gambling in a casino

^{Type
post

Author
News
Date
July 4, 2022

Categorized
Probability

Tagged
Advantage players working in teams, Big Player (book 1977), Bringing Down the House (book 2003), Casinos and violence, Featured, Kelly criterion in gambling, Ken Uston, Law of Large Numbers and gambling, Robert J. Marks, Rounders (movie 1998), Salvador Cordova, Twenty One (movie 2008)}

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} _{News

July 4, 2022

12

Probability}

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 Read More ›

^{Type
post

Author
News
Date
June 7, 2022

Categorized
Mathematics

Tagged
Advantage players in gambling, Advantage players' casino strategies, Don Johnson, Featured, Gambler's Fallacies, Gambling and probability, Law of Large Numbers and gambling, Robert J. Marks, Salvador Cordova}

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?} _{News

June 7, 2022

14

Mathematics}

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 Read More ›

^{Type
post

Author
News
Date
June 3, 2022

Categorized
Information Theory

Tagged
Advantage players, Claude Shannon, Dice sliders, Edwin Thorp, False shuffle, Featured, Gambling and probability, Law of Large Numbers and gambling, Probability, Robert J. Marks, Salvador Cordova, Shuffle Trackers, Whole cards in Blackjack}

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} _{News

June 3, 2022

12

Information Theory}

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 ›