5min chapter

In Our Time cover image

Probability

In Our Time

CHAPTER

Exploring Gambling and Probability in Casinos

The chapter dives into the application of the law of large numbers in gambling, focusing on roulette wheels and the casino's edge. It also dissects the gambler's fallacy, flawed betting strategies, and the St Petersburg Paradox, illustrating how probability theory interacts with real-world gambling scenarios.

00:00

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