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Monthly Archives: November 2010
The roulette wheel of fortune
The game of roulette is a wheel of fortune, unfortunately not for you but rather for the casino. Why? Five words – the law of large numbers. The people running the casino know these five words and their implication. They … Continue reading
One gambling problem that launched modern probability theory
Chevelier de Mere (16071684) was a gentleman gambler in France who made it to the history book by turning to Blaise Pascal, an eminent mathematician of his time, for help in finding a mathematical answer for why he consistently lost … Continue reading