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Advantage gambling, or advantage play, refers to legal methods used to gain an advantage while gambling, in contrast to cheating. The term usually refers to house-banked casino games, but can also refer to games played against other players, such as poker. Someone who practices advantage gambling is often referred to as an advantage player, or AP.
The mathematics of gambling is a collection of probability applications encountered in games of chance and can get included in game theory.From a mathematical point of view, the games of chance are experiments generating various types of aleatory events, and it is possible to calculate by using the properties of probability on a finite space of possibilities.
Michael Shackleford (born May 23, 1965, in Pasadena, California, United States), also known as "The Wizard of Odds" (a title taken from Donald Angelini ), [1] is an American mathematician and an actuary. He is best known for his professional analysis of the mathematics of the casino games. He is also an adjunct professor of actuarial science ...
A video lottery terminal ( VLT ), also sometimes known as a video gaming terminal ( VGT ), video slots, or the video lottery, is a type of electronic gambling machine. They are typically operated by a region's lottery, and situated at licensed establishments such as bars and restaurants. VLTs typically feature a selection of multiple games ...
A game of chance is in contrast with a game of skill. It is a game whose outcome is strongly influenced by some randomizing device. Common devices used include dice, spinning tops, playing cards, roulette wheels, numbered balls, or in the case of digital games random number generators. A game of chance may be played as gambling if players wager ...
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Video bingo machines in casinos in the United States are regulated by state or Indian gaming agencies. Since video bingo machines are available in Class II and Class III formats, they are subject to the Indian Gaming Regulatory Act. Also, the exploitation and licensing of the video bingo machines are regulated separately by local state law.
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