[Mind] Games
Gambling is a game that involves A LOT of thinking as well as A LOT of math. When betting, it is important to keep in the mind the probabilites that play into whatever your betting on. If there is a low probability of something happening, it would not be smart to bet on that event.

Probability in Dice

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Chevalier de Méré was a gambler who over the years, developed a good feel for gambling with dice. Due to his experience, the odds were often in his favor. He made a considerable profit by placing bets on rolling at least one six in four rolls of the die. Each roll of a die is considered independent because one roll has no effect on the roll of another. If you multiply the probability of each individual events together, you can figure out their combined probability.

For example with de Méré's theory, the probability of no six in four rolls is:
                (5/6) x (5/6) x (5/6) x (5/6) = 625/1296
 Since he WANTED at least one six in four rolls, the opposite can be concluded.
                1 - 625/1296 = 671/1296

This probability is greater than one half, so it is the winning bet.


Work Cited:
The Mathematics of Games and Gambling By: Edward W. Packel
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