# Category: Gambling mathematics

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