Probability Theory is the only rigorous theory modeling hazard, so any gambling strategy must be probability based.
This statement is the subject of my article below, which is also part of my last book, “Probability Guide of Gambling”. This guide holds a large collection of probability results and strategies, covering thousands of gaming situations from all major games including dice, slots, baccarat, roulette, blackjack, poker, electronic poker, lottery and sports bets.
It is not a classical scientific study, but a manifold application in ‘practical guide’ form. It is structured so gamblers with minimal mathematical background can skip the mathematical parts and directly find the results they need. You can have your own electronic version of this guide at its dedicated website where you can find all details about it, including structure, examples of how the guide helps in gambling decisions and sample paragraphs ( http://www.probability.go.ro )
In this guide, the presented numerical results are accompanied where considered necessary by recommendations to choose certain gaming variants or even certain games. These recommendations are built on the ‘probability based strategy’ and are stated within the context of the personal criteria of each player, regarding the goal of the game, the process of game and the player’s risk profile.
What does a probability based strategy actually mean?
“A strategy using criteria of evaluation and comparison of probabilities of various gaming events, in making decisions for accomplishing the proposed goal”, might do for a general definition.
In most cases the declared goal of the gambler is immediate winning of cash, but also fun, entertainment or experiencing certain emotions that are specific to competition or risk might be his or her goals.
Here we will show why the probability based strategy is optimal in situations where …