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Full-Text Articles in Statistics and Probability
Optimal Conditional Expectation At The Video Poker Game Jacks Or Better, Stewart N. Ethier, John J. Kim, Jiyeon Lee
Optimal Conditional Expectation At The Video Poker Game Jacks Or Better, Stewart N. Ethier, John J. Kim, Jiyeon Lee
UNLV Gaming Research & Review Journal
There are 134,459 distinct initial hands at the video poker game Jacks or Better, taking suit exchangeability into account. A computer program can determine the optimal strategy (i.e., which cards to hold) for each such hand, but a complete list of these strategies would require a book-length manuscript. Instead, a hand-rank table, which fits on a single page and reproduces the optimal strategy perfectly, was found for Jacks or Better as early as the mid 1990s. Is there a systematic way to derive such a hand-rank table? We show that there is indeed, and it involves finding the exact optimal …
Mathematical Models Of Games Of Chance: Epistemological Taxonomy And Potential In Problem-Gambling Research, Catalin Barboianu
Mathematical Models Of Games Of Chance: Epistemological Taxonomy And Potential In Problem-Gambling Research, Catalin Barboianu
UNLV Gaming Research & Review Journal
Games of chance are developed in their physical consumer-ready form on the basis of mathematical models, which stand as the premises of their existence and represent their physical processes. There is a prevalence of statistical and probabilistic models in the interest of all parties involved in the study of gambling – researchers, game producers and operators, and players – while functional models are of interest more to math-inclined players than problem-gambling researchers. In this paper I present a structural analysis of the knowledge attached to mathematical models of games of chance and the act of mathematical modeling, arguing that such …