The Theory of Gambling and Statistical Logic

The Theory of Gambling and Statistical Logic

2nd Edition - September 21, 2009

Write a review

  • Author: Richard Epstein
  • eBook ISBN: 9780080958613

Purchase options

Purchase options
DRM-free (PDF, EPub, Mobi)
Sales tax will be calculated at check-out

Institutional Subscription

Free Global Shipping
No minimum order


Early in his rise to enlightenment, man invented a concept that has since been variously viewed as a vice, a crime, a business, a pleasure, a type of magic, a disease, a folly, a weakness, a form of sexual substitution, an expression of the human instinct. He invented gambling. Recent advances in the field, particularly Parrondo's paradox, have triggered a surge of interest in the statistical and mathematical theory behind gambling. This interest was acknowledge in the motion picture, "21," inspired by the true story of the MIT students who mastered the art of card counting to reap millions from the Vegas casinos. Richard Epstein's classic book on gambling and its mathematical analysis covers the full range of games from penny matching to blackjack, from Tic-Tac-Toe to the stock market (including Edward Thorp's warrant-hedging analysis). He even considers whether statistical inference can shed light on the study of paranormal phenomena. Epstein is witty and insightful, a pleasure to dip into and read and rewarding to study. The book is written at a fairly sophisticated mathematical level; this is not "Gambling for Dummies" or "How To Beat The Odds Without Really Trying." A background in upper-level undergraduate mathematics is helpful for understanding this work.

Key Features

  • Comprehensive and exciting analysis of all major casino games and variants
  • Covers a wide range of interesting topics not covered in other books on the subject
  • Depth and breadth of its material is unique compared to other books of this nature
  • Richard Epstein's website:


Suitable for those interested in probability, statistics, or gambling and gamblers with an interest in theory and analysis and a basic understanding of undergraduate mathematics

Table of Contents

  • Preface to Revised Edition
    Preface to First Edition
    1. Kubeiagenesis
    2. Mathematical Preliminaries
    3. The Meaning of Probability
    4. The Calculus of Probability
    5. Statistics
    6. Game Theory
    7. Fundamental Principles of a Theory of Gambling
    8. Decision Making and Utility
    9. The Basic Theorem
    10. Coins, Wheels, and Oddments
    11. Biased Coins
    12. Statistical Properties of Coins
    13. Coin Matching
    14. Coin Games
    15. Diverse Recreations
    16. Casino Games
    17. Problems
    18. Coups and Games With Dice
    19. ABrief Chronicle
    20. Detection of Bias
    21. Probability Problems With Dice
    22. Formal Dice Games
    23. Casino Games
    24. Related Games
    25. Dice Divertissments
    26. The Play of the Cards
    27. Origins and Species
    28. Randomness and Shuffling
    29. Card Probabilities
    30. Simple Card Games
    31. Matching Problems
    32. Formal Card Games
    33. Casino Games
    34. Card Games With Skill
    35. Poker Problems
    36. Blackjack
    37. Memorabilia
    38. Rules
    39. Pertinent Mathematics
    40. Optimal Strategies
    41. Possible Improvements
    42. Blackjack Variations
    43. Contract Bridge
    44. The Family Tree
    45. Assumption
    46. Distributional Probabilities
    47. Residual Probabilities
    48. Evaluation Systems
    49. Bidding
    50. The Play
    51. Expectations
    52. Bridge-Playing Computers
    53. Bridge Mutants
    54. Weighted Statistical Logic and Statistical Games
    55. Strategic Selection
    56. Horse Racing
    57. TheStock Market
    58. War Games
    59. Games With Information Lag
    60. Hide-and-seek Game
    61. Dueling. Miscellaneous Statistical Games
    62. Inquizition
    63. Games of Pure Skill and Competitive Computers
    64. Games of Pure Skill
    65. Computer Programs for Board Games
    66. Two Board Problems
    67. Fallacies and Sophistries
    68. Psychology and Psilosophy
    69. Paranormal Phenomena
    70. Epilogue
    Appendix Tables
    Author Index
    Subject Index

Product details

  • No. of pages: 456
  • Language: English
  • Copyright: © Academic Press 2009
  • Published: September 21, 2009
  • Imprint: Academic Press
  • eBook ISBN: 9780080958613

About the Author

Richard Epstein

Affiliations and Expertise


Ratings and Reviews

Write a review

There are currently no reviews for "The Theory of Gambling and Statistical Logic"