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
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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
- 17 November 2023
- 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