Abstract

In 1654, Pascal and Fermar discussed how two gamblers should fairly divide their winnings after a break in play, and they came up with the right answer for the first time. Many gamblers are convinced that luck is always on their side and the odds of victory are always in their hands because gambling that is based on random games does not require too many skills and strategies to gamble based on the gambler's luck and competitiveness. Can gambling activities that draw large numbers of gamblers actually result in a profit? Making a lot of money through sheer luck is a pipe dream, according to the principles of probability that govern random games like winning and losing in gambling. This paper employs a method based on literature reviews to first assess the core of gambling from a probability perspective, then discuss the previous contributions of gambling, and lastly discuss the significance of probability and the future development of gambling.

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