Freshman Seminar on The Science of Casino Games (Fall 2013)

CSE87: The Science of Casino Games (Fall 2013)

Meeting times: Wed 6:30-7:20, CENTR 204

Course Instructor: Joseph Pasquale

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:

Play the game using this simulation. Check out the page describing the background and explanation.
Marilyn Vos Savant's article (letters to her in black, her responses in red)

This seminar begins in Fall 2013. Looking forward to meeting all of you!

Reading Schedule

11/13: Blackjack Rules, and simplified basic strategy (supplementary)
11/6: Article on Craps (part 2)
10/30: Article on Craps (part 1)
10/23: Article on how to beat Roulette
10/16: Description of Roulette

Administrative Matters

Instructor:	Joseph Pasquale

Books:		MENSA Guide to Casino Gambling Winning Ways
		Andrew Brisman
		Sterling Publishing, 1999