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The mathematics of gambling is a collection of probability applications encountered in games of chance and can get included in game theory.From a mathematical point of view, the games of chance are experiments generating various types of aleatory events, and it is possible to calculate by using the properties of probability on a finite space of possibilities.
A gambler's fortune (capital) is a martingale if all the betting games which the gambler plays are fair. The gambler is playing a game of coin flipping. Suppose X n is the gambler's fortune after n tosses of a fair coin, such that the gambler wins $1 if the coin toss outcome is heads and loses $1 if the coin toss outcome is tails. The gambler's ...
Mighty Math is a collection of six educational video games for the Windows and Macintosh platforms, developed and published by Edmark software. As the title indicates, the games are heavily oriented on mathematics. Two of each games cater for different age groups with fitting content.
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In statistics, gambler's ruin is the fact that a gambler playing a game with negative expected value will eventually go bankrupt, regardless of their betting system.. The concept was initially stated: A persistent gambler who raises his bet to a fixed fraction of the gambler's bankroll after a win, but does not reduce it after a loss, will eventually and inevitably go broke, even if each bet ...
Recreational mathematics is inspired by deep ideas that are hidden in puzzles, games, and other forms of play. The aim of the SIGMAA on Recreational Mathematics (SIGMAA-Rec) is to bring together enthusiasts and researchers in the myriad of topics that fall under recreational math.