Physical Sciences and Mathematics Commons^™

Leadership’S Influence On Environmental Sustainability, Stallar Lufrano-Jardine

International Conference on Gambling & Risk Taking

A phenomenological study within the gaming industry is currently being conducted to determine influential indicators within business operations. Based on interviews of executive leadership at global companies, participants disclosed the environmental developments at their organization based on industry norms and the ability to develop/execute environmental initiatives. Four themes emerged: the leader’s ideology and the political climate; the company’s founding principles; support from the industry and/or within the company; and the ability to change industry dynamics. Each leader touched on these four points. Regardless of department type, level of leadership, and the desire to be globally conscious, all participants remarked on …

A Statistical Analysis Of The Roulette Martingale System: Examples, Formulas And Simulations With R, Peter Pflaumer

International Conference on Gambling & Risk Taking

Some gamblers use a martingale or doubling strategy as a way of improving their chances of winning. This paper derives important formulas for the martingale strategy, such as the distribution, the expected value, the standard deviation of the profit, the risk of a loss or the expected bet of one or multiple martingale rounds. A computer simulation study with R of the doubling strategy is presented. The results of doubling to gambling with a constant sized bet on simple chances (red or black numbers, even or odd numbers, and low (1 – 18) or high (19 – 36) numbers) and …

Kelly Fraction Estimation For Multiple Correlated Bets, William Chin

International Conference on Gambling & Risk Taking

It is well-known that expected portfolio growth is maximized by maximizing

expected logarithmic utility. This investment criterion is known as Kelly betting.

It has many optimality properties but is considered to be risky. Blackjack

teams and other advantage gamblers practice a fraction of the Kelly optimal to

decrease risk. Some hedge fund managers are thought to practice according to

Kelly principles. We use a continuous multivariate Geometric Brownian motion

model and present an interval estimate for the historical fraction for a portfolio

of correlated bets, possibly including a risk-free asset. Historical data comes

from a range of sources and the …

Nonstandard Dice That Both Count For Card Craps, Mark Bollman

International Conference on Gambling & Risk Taking

The Pala Casino in California deals Card Craps using a red die numbered {2; 2; 2; 5; 5; 5} and a blue die numbered {3; 3; 3; 4; 4; 4}. Two cards from a special 36-card deck, which contains one card bearing each of the 36 ways in which two dice can land when rolled, are dealt: one each face down to a red space and a blue space. When the dice are rolled, the higher number determines which of the cards is flipped over.

A moment's reflection reveals that Pala's blue die is unnecessary. The card selection process can …