^{ Type post AuthorNews 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 ›