CSE87: The Science of Casino Games (Fall 2013)
Meeting times: Wed 6:30-7:20, CENTR 204
This is a
freshman seminar
on optimal play in casino games,
or "How to gamble, if you must" (from the title of the 1965 classic
book on stochastic processes by Lester Dubins and Leonard Savage).
We introduce some basic concepts in gambling theory,
and survey some of the more popular casino games,
considering questions such as:
What are the best plays in a casino (where the house edge is minimal)?
What factors determine how much you should bet?
How large does your bankroll need to be?
What are the chances that ultimately, you will be "ruined,"
and how long will it take?
Do "betting systems" work?
In the end, students learn the unfortunate truth that the odds are
almost always stacked against the player
(which means you will likely lose money, and eventually, all of it).
Message of the Day
For our next meeting on 11/20, we will continue discussing Blackjack and focus on basic strategy.
Please read the second section of the Wizard of Odds Blackjack page
titled Wizard's Simple Strategy which is a description of a simplified form of basic strategy.
Optionally, read the third section on full Basic Strategy.
For our next meeting on 11/13, we will begin discussing the game of Blackjack.
Please read the first section titled Rules which is a description of how to play. If you already
know Blackjack and want to read ahead, please review the
simplified
basic strategy for Blackjack.
For our next meeting on 11/6, we will continue discussing the game of
Craps. Please read the article on Craps (part 2),
and if you haven't read Craps (part 1), please do so.
For our next meeting on 10/30, please read the article on Craps (part 1).
For our next meeting on 10/23, please read the article on the
physics of beating roulette.
If you are so inclined, you might also with to
read the
original scientific article.
For our next meeting on 10/16, please read the instructions for
Roulette.
Here are some references to the Monty Hall Problem, which we discussed in the previous meeting:
This seminar begins in Fall 2013. Looking forward to meeting all of you!
Reading Schedule
Administrative Matters
Instructor: Joseph Pasquale
Books: MENSA Guide to Casino Gambling Winning Ways
Andrew Brisman
Sterling Publishing, 1999