Overview of the nature and development of gambling from the perspective of probability

Siyi Shen

doi:10.54254/2753-8818/12/20230436

Research Article

Open access

Published on 17 November 2023

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Shen,S. (2023). Overview of the nature and development of gambling from the perspective of probability. Theoretical and Natural Science,12,73-77.

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Overview of the nature and development of gambling from the perspective of probability

Siyi Shen *^,1,

¹ king’s college London

* Author to whom correspondence should be addressed.

https://doi.org/10.54254/2753-8818/12/20230436

Abstract

In 1654, Pascal and Fermar discussed how two gamblers should fairly divide their winnings after a break in play, and they came up with the right answer for the first time. Many gamblers are convinced that luck is always on their side and the odds of victory are always in their hands because gambling that is based on random games does not require too many skills and strategies to gamble based on the gambler's luck and competitiveness. Can gambling activities that draw large numbers of gamblers actually result in a profit? Making a lot of money through sheer luck is a pipe dream, according to the principles of probability that govern random games like winning and losing in gambling. This paper employs a method based on literature reviews to first assess the core of gambling from a probability perspective, then discuss the previous contributions of gambling, and lastly discuss the significance of probability and the future development of gambling.

Keywords

probability, gambling, social welfare

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References

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Cite this article

Shen,S. (2023). Overview of the nature and development of gambling from the perspective of probability. Theoretical and Natural Science,12,73-77.

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About volume

Volume title: Proceedings of the 2023 International Conference on Mathematical Physics and Computational Simulation

Conference website: https://www.confmpcs.org/

ISBN：978-1-83558-135-3(Print) / 978-1-83558-136-0(Online)

Conference date: 12 August 2023

Editor：Roman Bauer

Series: Theoretical and Natural Science

Volume number: Vol.12

ISSN：2753-8818(Print) / 2753-8826(Online)

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