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Statistics LibreTexts

13: Games of Chance

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  • Games of chance hold an honored place in probability theory, because of their conceptual clarity and because of their fundamental influence on the early development of the subject. In this chapter, we explore some of the most common and basic games of chance. Roulette, craps, and Keno are casino games. The Monty Hall problem is based on a TV game show, and has become famous because of the controversy that it generated. Lotteries are now basic ways that governments and other institutions raise money. In the last four sections on the game of red and black, we study various types of gambling strategies, a study which leads to some deep and fascinating mathematics.

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