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Probability in gambling Lucie Tejessyová. Gambling Games of chances or skills when betting ratios are to bettors disadvantage The best bets – bring the.

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Presentation on theme: "Probability in gambling Lucie Tejessyová. Gambling Games of chances or skills when betting ratios are to bettors disadvantage The best bets – bring the."— Presentation transcript:

1 Probability in gambling Lucie Tejessyová

2 Gambling Games of chances or skills when betting ratios are to bettors disadvantage The best bets – bring the casino the smallest gain Their outcome depends mainly on the chance

3 Probability Probability theory – mathematical discipline that analyses random events Random event – a result of a random experiment Random experiment – its course and outcome depend on the chance

4 Classical definition of probability

5 Odds & expected value

6 Roulette

7 French Roulette BetProbabilityOddsPayoutTrue Math. Odds House Advantage Straight Split Street Corner Six line Dozens Even-money

8 Sportka

9 Probability of win in Sportka PrizesNumber of guessed numbers ProbabilityWinning percentages 1. Prize 2. Prize 3. Prize 4. Prize 5. Prize Loss

10 Conclusion The casinos have always certain probability advantage above players and therefore they are definitely profitable None of these games is fair The probability of most wins is less than 5% and therefore it is practically impossible to reach them Gambling should be used for entertainment, not to earn money

11 „The greatest advantage in gambling lies in not playing at all.“ (Girolamo Cardano)

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