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

Posted in Games of chance, Probability | Tagged , , , , , , | 4 Comments

One gambling problem that launched modern probability theory

Chevelier de Mere (1607-1684) 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

Posted in Probability | Tagged , , , , , , , | 3 Comments