Gambling is the wagering of money, typically on games of chance or skill. Despite the societal problems, gambling contains the roots of probability theory, game theory, and many aspects of the social sciences. Thus, while gamblers should check out gamblers anonymous and look at the Wizard’s of Odds to dampen their potential rose colored glasses, gambling will continue to interest the more academically inclined (and thus is a section on our site).

Factoids tagged with "Gambling"

Pinball Used to Be Illegal Fact

Between the 1940s and the 1970s pinball used to illegal in parts of the United States. It was thought of as a gambling “game of chance” and was caught up in the post-prohibition push-back against gambling.

eSports are Real Sports Fact

eSports can be considered “real sports” by definition, much in the same way chess or poker can be. There are many parallels between traditional athletic sports and eSports.

Past Outcomes of Random Events Affect Future Outcomes Myth

Past results of random independent events, like a coin flip, don’t affect future results. The mistaken belief that past results affect future results is known as “the Gambler’s Fallacy” (AKA the Fallacy of the Maturity of Chances, or the Monte Carlo Fallacy).