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This guide, written by casino math professor Robert Hannum, contains a brief, non-technical discussion of the basic mathematics governing casino games and shows how casinos make money from these games.The article addresses a variety of topics, including house advantage, confusion about win rates, game volatility, player value and comp policies, casino pricing mistakes, and regulatory issues.
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Cleve Moler presents MATLAB code for simulating basic strategy, and explains why simulating blackjack play in MATLAB is both an instructive programming ...
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