Theoretical and Natural Science

- The Open Access Proceedings Series for Conferences


Theoretical and Natural Science

Vol. 12, 17 November 2023


Open Access | Article

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.

Advances in Humanities Research, Vol. 12, 73-77
Published 17 November 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Siyi Shen. Overview of the nature and development of gambling from the perspective of probability. TNS (2023) Vol. 12: 73-77. DOI: 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

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 2023 International Conference on Mathematical Physics and Computational Simulation
ISBN (Print)
978-1-83558-135-3
ISBN (Online)
978-1-83558-136-0
Published Date
17 November 2023
Series
Theoretical and Natural Science
ISSN (Print)
2753-8818
ISSN (Online)
2753-8826
DOI
10.54254/2753-8818/12/20230436
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated