Understanding Your Game: A Mathematician's Advice for Rational and Safe Gambling

Book excerpt: Dr. Cătălin Bărboianu, a recognized authority in gaming mathematics, philosopher of science, and problem-gambling researcher, proposes in this practical guide for both problem and non-problem gamblers a new pragmatic, conceptual approach of gambling mathematics. The primary aim of this guide is the adequate understanding of the essence and complexity of gambling through its mathematical dimension. The author starts from the premise that formal gambling mathematics, which is hardly even digestible for the non-math-inclined gamblers, is ineffective alone in correcting the specific cognitive distortions associated with gambling. By applying the latest research results in this field, the author blends the gambling-mathematics concepts with the epistemology of applied mathematics and cognitive psychology for providing gamblers the knowledge required for rational and safe gambling. It is not a standard book of gambling mathematics. The essential mathematical concepts are explained in a conceptual mode for the non-math reader, limited to their context of application and including their precise relationship with the real world of gambling. The entire mathematical dimension of gambling is reduced to seven general principles, explained at large in the seven main chapters, each generating a set of general recommendations applicable in general or in particular situations. These recommendations cover both the technical play, including objective and optimal strategies, and responsible, safe gambling. The guide has entire sections dedicated to roulette, blackjack, slots, poker, and sport betting; however, the principles and the associated advice are applicable in general to all games of chance. A major focus of the work is on explaining, making aware of, demounting, and correcting the classical gambling cognitive distortions (misconceptions, subjective estimations of probabilities, the Monte Carlo fallacy, conjunction and disjunction fallacies, the near-miss effect, illusion of control, and the misunderstanding of gambling language). The guide provides the required cognitive tools for correcting these distortions with the help of the mathematical concepts and addresses not only gamblers, but also gambling experts, including counselors.