Math 301 The Mathematics of Games & Gambling : Math 301 The Mathematics of Games & Gambling Dr. James Hymas
Converse College
January Term, 2006
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Slide3 : Converse College
Slide4 : Converse College
Est 1889
January Term : January Term Taught for 4 weeks during January
Must meet a total of 48 hours
8:30-11:30 M,T, W, Th
Two field trips
extended laboratory sessions
Syllabus : Syllabus Math 301 Instructor: Dr J Hymas
The Mathematics of Games & Gambling
January Term 2006
Four Credit Hours
Major or elective credit
Objectives of the Course : Objectives of the Course To introduce and develop the mathematics necessary for a rational analysis of various gambling applications
To directly observe the applications of the mathematical principles used in various games
To increase the interest of mathematics
Slide8 : Prerequisites: Permission of the Instructor
Grading
Midterm Exam 25%
Quizzes & Worksheets 40%
Presentation 10%
Final Exam 25%
Slide9 : Text: No required Text
See the Reading list
Note: Next time there will be a
required text
Practial Casino Math by Hannum & Cabot 2nd Ed, Published by Institute of the Study of Gambling & Comm Gaming
Topics to be Covered : Topics to be Covered History of Gambling
Basics of Probability
Mathematical Expectation
Applications of Mathematical Expectation
Permutations and Combinations
Various probability distributions
Rules and Strategies of various games
Slide11 : Math 301
Reading List
Edward Packel, The Mathematics of Games and Gambling,
The Mathematical Association of America – New Mathematical Library
Neil A. Weiss, A Course in Probability, Pearson/Prentice Hall.
Sheldon Ross, A First Course in Probability, Pearson/Prentice Hall.
Hogg & Tanis, Probability & Statistical Inference, 5th Edition, Prentice Hall
John Marchel, KISS – Guide to Gambling, Dorling Kindersley
Andrew Brisman, MENSA Guide to Casino Gambling, Main Street Press
Roger Gros, How to Win at Casino Gambling, Barnes & Noble Books
Peter A. Griffin, The Theory of Blackjack, 6th Ed, Huntington Press
Harroch & Krieger, Poker for Dummies, Hungry Minds
Calendar : Calendar Week 1
Elementary Probability
Rules of the games
Blackjack
Poker
Week 2
Elementary Probability
Rules of the games
Roulette
Slot Machines
Calendar (Con’t) : Calendar (Con’t) Week 3
Elementary Probability
Rules of the Games
Craps
Field Trip to S C Lottery Headquarters
Midterm Test
Calender : Calender Week 4
Probability and Statistics
Para Mutual Betting
Sports Books
Field trip to the Sun Cruz Casino Cruise Ship in Myrtle Beach SC
Week 5
Gambling Addiction
Presentations
Final Examination
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Solving Problems : Solving Problems Think about problems in different ways.
Example: What is the probability of getting four or more heads when tossing seven coins? C(7,4)(1/2)7 + C(7,5)(1/2)7+C(7,6)(1/2)7+C(7,7)(1/2)7
=[35+21+7+1](1/2)7 = 64/128 = ½ or You are either going to get 4 or more heads or 4 or more tales. Both are equally likely. Therefore the Probability of getting 4 or more heads is ½ .
Presentation Topics : Presentation Topics Roulette
Blackjack
Regular Poker
Texas Hold’em
Betting on the horses
Gambling addiction
Gambling games in El Salvador
Keno
Card Counting
Craps
Slots and Poker Machines
Slide21 : Each student was given $500 or virtual money to gamble
with during the term
They could bet on
Sports Books
South Carolina Lottery
During laboratory sessions on the games that we
were playing (Roulette, blackjack, craps and poker)
Field Trips : Field Trips South Carolina Lottery Headquarters
Sun Cruz Casino Ship in Myrtle Beach
South Carolina
Lottery Headquarters : Lottery Headquarters Lottery Officials gave us a 2 hour presentation
marketing
creation of new games
how scratch off tickets are made
where the money goes
Visited the studio where the drawing are made.
Sun Cruz Casino : Sun Cruz Casino Tour of the casino
Presentation by the casino manager
Lessons in
Blackjack
Roulette
Craps
Participation in the Slots Tournament
Slide25 : Sun Cruz Casino – Myrtle Beach South Carolina
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Lessons Learned : Lessons Learned Two Presentations by the students
First one on rules and strategies of the games
Second one – How to minimize loses and strategies.
Class size of around 12 students
Crash course on casino gambling
early in the course.
Final Notes : Final Notes Gambling addition among students
Keep it fun
Have a required text
Student involvement