“The Mathematics of Games and Puzzles: From Cards to Sudoku” S:1 E:2 Games of Chance and Winning Wagers

S:1 E:2 Games of Chance and Winning Wagers Turn now to games that rely heavily on chance and betting, such as roulette and craps, and learn how to evaluate the fairness (or unfairness) of games using the ever-important concept of expected value. Once you know if a game is to your advantage or not, you can use the Kelly criterion or the Gambler’s Ruin formula to help you decide your best wagering strategies.