Math and Gambling

[wxa7115]

There is also another man called James Simons, who is named the greatest gambler of all, he made more money using math than Chris Ferguson, James net worth is over 20 billions, I was shocked, because I use to think it's impossible to gamble using any skills, this is a skill on a another level, I am mad that I am just knowing this not too long ago.

School is not important as 96% of what you learn won't be used in the real world to make money, but this 4% left is making a lot of people rich, math and gambling seems to go with each other, what do you guys think? Am I wrong or right?

For being the greatest gambler ever, his Wikipedia page makes no mention of anything related to gambling. The vast majority of James Simons' wealth comes from investments and being a hedge fund manager. He has been successful at creating investment strategies by developing mathematical models and analyzing patterns. While investing in financial markets can be seen as a form of gambling it is not the same thing in the traditional way that most people understand gambling.

The mathematicians that found a new method to make money while gambling have gone to become great investors on their own right.

This is the case as well of Edward Thorp, which is the creator of card counting, however he probably earned more money with the book he wrote than by using his card counting method, and eventually he became a hedge fund manager and earned a fortune on the markets with a new method that he designed himself as well.

[Hirose UK]

~snip~

The mathematicians that found a new method to make money while gambling have gone to become great investors on their own right.

Investment is one of the best ways to save money and make profit without working or you could say using money to make money, that way every rich person or person with large assets will multiply their wealth in an investment.
They use this method to be able to make certain amount of money more definitely and consistently so maybe they just use gambling as place to have fun, after all I sure they already get lot of sweetness from gambling.

This is the case as well of Edward Thorp, which is the creator of card counting, however he probably earned more money with the book he wrote than by using his card counting method, and eventually he became a hedge fund manager and earned a fortune on the markets with a new method that he designed himself as well.

Yes, Edward Thorp is mathematics professor and he is also a hedge fund manager and Blackjack researcher.
He has quite large fortune and of course his experience in gambling is beyond doubt, especially in all types of card games, he can make more wins than his ability but after all his achievements it seems he will not do it again.
Edward Thorp is known as mathematics professor who produced many formulas and methods for calculating cards and also using correlations to get decent financial profits.

[Ricardo11]

You can't win gambling if you only know math. Gambling requires luck to win. Because we have seen that sometimes strong teams lose to weak teams. So it is wrong to say that only maths is required to win at gambling, you need both luck, maths and skill to win at gambling.

[Gozie51]

You can't win gambling if you only know math. Gambling requires luck to win. Because we have seen that sometimes strong teams lose to weak teams. So it is wrong to say that only maths is required to win at gambling, you need both luck, maths and skill to win at gambling.

math and gambling seems to go with each other, what do you guys think? Am I wrong or right?

Like Op eventually said, they both could go with each other and not one alone for the other.

Maths can be used for certain games though like for poker games or cards and a few others but definitely not for majority of gambling games. For example in sports, you can't rely on maths alone, you need the calculations if at all to know the goal strength of players, teams home and away but the football skill and knowledge you have is very important to your gambling success too. So maths and skills are not in isolation from each other.

[Ever-young]

You can't win gambling if you only know math. Gambling requires luck to win. Because we have seen that sometimes strong teams lose to weak teams. So it is wrong to say that only maths is required to win at gambling, you need both luck, maths and skill to win at gambling.

You might want to narrow your point down to the aspect of sport or game you have in mind. You can say that for soccer or a few other sports but not all games, there are games that does require more skill and less luck. Poker or Blackjack for instance, you sure need a high level of math skill and less luck. With the help of maths in poker, you can easily calculate your way to victory, it'll make it easier for you to calculate your opponent's next move before he even makes them. So yeah there are certain games you need to depend more on your maths skills rather than just luck.

[ethereumhunter]

Yes, we have to know the time limits and stakes in gambling so that we don't just hope for luck but for entertainment for ourselves. Apart from that, good self-control is also needed to perfect good behavior when gambling, which is useful for minimizing the risks of gambling and preventing us from becoming addicted.

It is very difficult to hope for luck in gambling. We have to be aware of this and always use clear boundaries when gambling so that we don't lose more money when gambling. If we can have good self-control when gambling, we can reduce the risk of losing money and will always stay within limits because we don't want to see ourselves lose even more. Apart from that, we also have to avoid gambling addiction, which even makes people unable to quit gambling. That is why we must continue to practice self-control while gambling so that we don't experience problems that we don't want.

[bluebit25]

In fact, we still see a few in life mentioned as winners, so any game needs elements such as knowing, understanding, applying, creating,... And gambling also requires learning to become a professional player as well as having a high winning rate. I remember when I was in high school, my teacher once told us the odds of winning on coins, but we tend to lose more than we win, so understanding the game helps we eliminate the odds of losing a lot.

I believe that defeat sometimes teaches people many good things that people can't learn by winning multiple times. For those who can learn from some defeats, those defeats are fine, but for those who defeat has become a habit, that is, those who continue to lose one after another, but this defeat is terrible. When one or two defeats come after a few successful wins, we have to take those defeats as normal but if we keep losing one after another then we must realize that we must have had enough mistakes in our strategy. If more defeats accompany us then we should take a break and find out our weak points and work on them. By taking a break and finding the weak point, when he works on the weak point, we can win the game again.

That advice only applies when your are playing a game in which your skill can affect your results, as trying to do this in a game like slots makes no sense, you could learn how not to bet too much on that game and avoid letting your emotions take control of you when you gamble, but that is it.

When it comes to those games there is not really a strategy you can devise to beat them, and you must content yourself simply with the joy you can get out of them.

Even knowing the game well only brings defeat, and an instant victory can ease the tension. For those who come to gambling to relax, they don't care too much about the results, because experiencing the atmosphere of the game really helps them relieve stress.
I have also seen some instructions on how to cheat during gambling or even forms of technical analysis to increase the odds,... but in the end, with gambling, I always stick to being relaxed, so I don't think too much about whether I lose or win. Although I have also experienced many different levels of gambling, and sometimes I find people a bit too complicated about issues in this area, think of it as a concert, and the amount of money we spend is the cost.

[Porfirii]

Gambling is known to be a game of pure luck but also probability, that's if you are good at math, this is what a fellow employee said to me, he then told me to look Chris Ferguson up, to my surprise this man won millions in gambling using math, I read this man is really good at math,

He created his own gambling strategy for poker completely on math and game theory instead of trying to focus monitoring the players, this man won five world series bracelets 🤦 and over 8 millions dollars in gambling tournaments.

There is also another man called James Simons, who is named the greatest gambler of all, he made more money using math than Chris Ferguson, James net worth is over 20 billions, I was shocked, because I use to think it's impossible to gamble using any skills, this is a skill on a another level, I am mad that I am just knowing this not too long ago.

That's because poker is very different from other gambling games based on pure luck. In poker, skill weights more than other factors (like 80% if I'm not wrong), so that's why some individuals excel the way you said.

But math's won't help you make money in other pure gambling games like roulette, dice, crash, slots...

School is not important as 96% of what you learn won't be used in the real world to make money, but this 4% left is making a lot of people rich, math and gambling seems to go with each other, what do you guys think? Am I wrong or right?

Not everything in your life is meant to be used to make money. If that's your main goal in your life, I think that you're losing something really valuable.

It is true that in school they don't teach you some interesting practical things that one must learn on his own, but that's not a reason to say that school is not important.

[piebeyb]

You can't win gambling if you only know math. Gambling requires luck to win. Because we have seen that sometimes strong teams lose to weak teams. So it is wrong to say that only maths is required to win at gambling, you need both luck, maths and skill to win at gambling.

I don't know why people always think that mathematics can beat the dealer in casino games or other games, I'm actually not sure about that because I often try various strategies and my mathematical skills to try to beat the dealer in several casino games, but in the end I only win a little and experience more losses, but that's not the real purpose of my gambling, I just have fun at gambling.

So I won't take it too seriously with every defeat I get, I'm just sharing a little of my experience where I used mathematics to beat the dealer but it never worked, it's best not to do it because it would just be a waste in my opinion, everything is as you said Back again to the luck of each gambler, it doesn't matter how good you are at analyzing or good at mathematics, it's still the lucky ones who win.

[Vaculin]

It's not all the time that math can do wonders in gambling, but I must admit that if you have good skills in math, the rate of winning is high. Although gambling is mostly all about luck, but having a good analysis in math also adds to your luck which if combined together, you will gain positive outcome from gambling.

However, I don't encourage everyone that if you are good in math, do maximal gambling. That is very wrong. Still, gamble on the amount you are comfortable of losing as gambling never guarantees the bettors to win consistently.

[Slow death]

In all the things we do, when we do them with knowledge they become simpler, but this does not mean that we will have guaranteed results, in the case of gambling, knowing mathematics and being able to obtain a lot of information about the game we want to place a bet on if we place a bet. advantage, but it is not something that guarantees profit or constant victories. I read somewhere that certain casinos have customer lists and they ban these customers due to the fact that they are people who are constantly winning a lot of money in these casinos, this means that these people who are winning a lot of money in the casino are very skilled people, and When we talk about skills to win at games of chance, we are also talking about people with good knowledge of mathematics

Now we need to ask ourselves why the people who are sent away from casinos because they constantly win a lot of money are people who play card-related games, probably the answer is because in card games mathematics and other well-implemented strategies can do with a person achieving consecutive victories, while in other games of chance, things are much more complicated, in lottery and slot games it is useless to be a very skilled person in mathematics, in sports betting the same thing, so I would say that In general, it is useless to think that mathematics would be very advantageous in gambling, it will only be useful in some games

[hedgeh0g]

It's not all the time that math can do wonders in gambling, but I must admit that if you have good skills in math, the rate of winning is high. Although gambling is mostly all about luck, but having a good analysis in math also adds to your luck which if combined together, you will gain positive outcome from gambling.

However, I don't encourage everyone that if you are good in math, do maximal gambling. That is very wrong. Still, gamble on the amount you are comfortable of losing as gambling never guarantees the bettors to win consistently.

Strong mathematical knowledge tips the scales in gambling towards our victory more than those who don't have such knowledge. We must also remember the concept of mathematical expectation and understand that the marathon of betting in gambling lasts for us throughout our lives, even if we have breaks of several years. And it is important what the result will be: for some it will be a huge minus, for others it will be a small minus, and for the luckiest ones, who understand mathematics and have complete control over their emotions, they will complete the marathon with a profit. Of course everyone wants to be like that, which is not surprising.

[Aanuoluwatofunmi]

While we are gambling, we need to be very calculative, there are instances or some certain situations that we need to have the mathematical calculations in making some bet on related games where such is applicable or needed, however, we should not also always rely on the fact that what we have calculated is always right because sometimes things doesn't work from the way we see them or apply solution to them, but we just need to be calculative in gambling because it will still helps in other ways.

[zuzie]

Yes, we have to know the time limits and stakes in gambling so that we don't just hope for luck but for entertainment for ourselves. Apart from that, good self-control is also needed to perfect good behavior when gambling, which is useful for minimizing the risks of gambling and preventing us from becoming addicted.

It is very difficult to hope for luck in gambling. We have to be aware of this and always use clear boundaries when gambling so that we don't lose more money when gambling. If we can have good self-control when gambling, we can reduce the risk of losing money and will always stay within limits because we don't want to see ourselves lose even more. Apart from that, we also have to avoid gambling addiction, which even makes people unable to quit gambling. That is why we must continue to practice self-control while gambling so that we don't experience problems that we don't want.

And most gamblers cannot predict their own winnings but are obsessed with getting them in the wrong way, namely being greedy and lacking self-awareness when gambling.
That's right, good self-control is very important and beneficial for ourselves to reduce the big risk in gambling, namely losing a lot of money and preventing us from addictive behavior. and this needs to be done by gamblers so that they play in a relaxed manner and don't overdo it.

[ethereumhunter]

And most gamblers cannot predict their own winnings but are obsessed with getting them in the wrong way, namely being greedy and lacking self-awareness when gambling.
That's right, good self-control is very important and beneficial for ourselves to reduce the big risk in gambling, namely losing a lot of money and preventing us from addictive behavior. and this needs to be done by gamblers so that they play in a relaxed manner and don't overdo it.

Gamblers can only keep trying to win their gambling games without knowing when they will win and if they become more and more obsessed with getting that win, gradually they will become addicted to gambling that they will not realize. And they also won't count how much money they have used for gambling because their goal has changed to just wanting to win from gambling. They should be able to realize this by losing a lot and be able to calculate the amount of money they have lost in gambling. They shouldn't need to use a lot of money to gamble because after all, gambling is just entertainment that doesn't need to be taken too seriously.

[zuzie]

And most gamblers cannot predict their own winnings but are obsessed with getting them in the wrong way, namely being greedy and lacking self-awareness when gambling.
That's right, good self-control is very important and beneficial for ourselves to reduce the big risk in gambling, namely losing a lot of money and preventing us from addictive behavior. and this needs to be done by gamblers so that they play in a relaxed manner and don't overdo it.

Gamblers can only keep trying to win their gambling games without knowing when they will win and if they become more and more obsessed with getting that win, gradually they will become addicted to gambling that they will not realize. And they also won't count how much money they have used for gambling because their goal has changed to just wanting to win from gambling. They should be able to realize this by losing a lot and be able to calculate the amount of money they have lost in gambling. They shouldn't need to use a lot of money to gamble because after all, gambling is just entertainment that doesn't need to be taken too seriously.

Yes, just try and hope to win, gamblers will do anything to make their wishes come true, even if they behave badly or wrongly they will do it and this has been proven to be done by gamblers when they are in casinos without them realizing it. they will lose control and gamble without any restrictions.
That's right, gamblers don't need to spend a lot of money to bet, it's better to just be satisfied with what they have, so that they can enjoy every game they play in a relaxed and unforced manner then they will enjoy the sensation of gambling, namely getting entertainment and thinking that win or lose is bound to happen.

[Hispo]

While we are gambling, we need to be very calculative, there are instances or some certain situations that we need to have the mathematical calculations in making some bet on related games where such is applicable or needed, however, we should not also always rely on the fact that what we have calculated is always right because sometimes things doesn't work from the way we see them or apply solution to them, but we just need to be calculative in gambling because it will still helps in other ways.

In my opinion, I do not see how calculating could actually help to when co.es to gambling (beyond budget management, so we do not completely lose our bankroll). Have you ever read about the laws of the probabilities of the Gaussian distribution of chances? Those principles only help you to understand what are the actual chances of getting a specific outcome, that information is already given to all of us when we partake in gambling or sportbetting.
The only application I can think of of the laws of changes/probabilities is to verify whether a specific game or set of gambling sessions are being tampered with in favor of the house or the gambler. It would be a simple comparation of distribution of chances in a Gauss bell.

[leonair]

While we are gambling, we need to be very calculative, there are instances or some certain situations that we need to have the mathematical calculations in making some bet on related games where such is applicable or needed, however, we should not also always rely on the fact that what we have calculated is always right because sometimes things doesn't work from the way we see them or apply solution to them, but we just need to be calculative in gambling because it will still helps in other ways.

In my opinion, I do not see how calculating could actually help to when co.es to gambling (beyond budget management, so we do not completely lose our bankroll). Have you ever read about the laws of the probabilities of the Gaussian distribution of chances? Those principles only help you to understand what are the actual chances of getting a specific outcome, that information is already given to all of us when we partake in gambling or sportbetting.
The only application I can think of of the laws of changes/probabilities is to verify whether a specific game or set of gambling sessions are being tampered with in favor of the house or the gambler. It would be a simple comparation of distribution of chances in a Gauss bell.

I really don't know how much it is possible to win bets by placing bets with mathematical calculations.  When you bet for any sports you need to look at previous matches and pick a potential team.  So mathematical calculations will not be very useful here.  On the other hand, when you play casino games, the games that are played with cards will come randomly, so you cannot improve much by doing mathematical calculations here.  On the other hand, the ones you have to play against the machine will play you with its own algorithm so you cannot win by mathematical calculation from there.  So I don't think mathematical calculations will be helpful for gambling

[ethereumhunter]

Yes, just try and hope to win, gamblers will do anything to make their wishes come true, even if they behave badly or wrongly they will do it and this has been proven to be done by gamblers when they are in casinos without them realizing it. they will lose control and gamble without any restrictions.
That's right, gamblers don't need to spend a lot of money to bet, it's better to just be satisfied with what they have, so that they can enjoy every game they play in a relaxed and unforced manner then they will enjoy the sensation of gambling, namely getting entertainment and thinking that win or lose is bound to happen.

Hopefully, we won't be like those who do anything just to win from gambling. We won't realize the mistakes we have made if we are in a condition like them because we won't realize it. That is why we must continue to maintain good self-control so that we do not gamble excessively. This is also to reduce the number of losses we can experience because by gambling within limits, we will know when it is time to stop gambling.

Yes, we as gamblers should be able to enjoy gambling as entertainment and not chase wins that are definitely difficult to get. We have also seen that many people try it but most of them fail and they can't even win at all and lose all their money. And if we can enjoy gambling as entertainment, we can use our free time to gamble until the time to stop comes. Who knows, by using gambling as entertainment, we can win even if it's not a big win.

[summonerrk]

It is quite possible that among all of us there are those who are excellent at mental arithmetic, and there are many films about this, where people with such abilities are well prepared and go to win at the casino. Sometimes they even form groups to make it easier to earn money this way.
But we should not exclude the fact that the casino security service employs people with an excellent analytical mind. And their main duty is to ban players who can make losses for the casino with their minds.