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Cribbage statistics

In cribbage, the probability and maximum and minimum score of each type of hand can be computed.

Coin flipping

Coin flipping, coin tossing, or heads or tails is the practice of throwing a coin in the air and checking which side is showing when it lands, in order to choose between two alternatives, heads or tai

Gambling and information theory

Statistical inference might be thought of as gambling theory applied to the world around us. The myriad applications for logarithmic information measures tell us precisely how to take the best guess i

Lottery mathematics

Lottery mathematics is used to calculate probabilities of winning or losing a lottery game. It is based primarily on combinatorics, particularly the twelvefold way and combinations without replacement

Mathematics of bookmaking

In gambling parlance, making a book is the practice of laying bets on the various possible outcomes of a single event. The phrase originates from the practice of recording such wagers in a hard-bound

Miwin's dice

Miwin's Dice are a set of nontransitive dice invented in 1975 by the physicist Michael Winkelmann. They consist of three different dice with faces bearing numbers from one to nine; opposite faces sum

Kelly criterion

In probability theory, the Kelly criterion (or Kelly strategy or Kelly bet), is a formula that determines the optimal theoretical size for a bet. It is valid when the expected returns are known. The K

Sucker bet

A sucker bet is a gambling wager in which the expected return does not reflect the odds of winning, and is significantly lower. For example, the chances of correctly guessing the order of the final th

Feller's coin-tossing constants

Feller's coin-tossing constants are a set of numerical constants which describe asymptotic probabilities that in n independent tosses of a fair coin, no run of k consecutive heads (or, equally, tails)

Fair coin

In probability theory and statistics, a sequence of independent Bernoulli trials with probability 1/2 of success on each trial is metaphorically called a fair coin. One for which the probability is no

Probability of kill

Computer games, simulations, models, and operations research programs often require a mechanism to determine statistically how likely the engagement between a weapon and a target will result in a sati

Return to Player

Return to Player (RTP) is a term used in gambling and online games to refer to the percentage or prizes that will be returned to a player depending on funds deposited during the game initially. Return

Gambler's fallacy

The gambler's fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the incorrect belief that, if a particular event occurs more frequently than normal during th

Proebsting's paradox

In probability theory, Proebsting's paradox is an argument that appears to show that the Kelly criterion can lead to ruin. Although it can be resolved mathematically, it raises some interesting issues

Coupon collector's problem

In probability theory, the coupon collector's problem describes "collect all coupons and win" contests. It asks the following question: If each box of a brand of cereals contains a coupon, and there a

Gambling mathematics

The technical processes of a game stand for experiments that generate aleatory events. Here are a few examples:
* Throwing the dice in craps is an experiment that generates events such as occurrences

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