What's Luck Got to Do with It?: The History, Mathematics, and Psychology of the Gambler's Illusion

Description

Why do so many gamblers risk it all when they know the odds of winning are against them? Why do they believe dice are 'hot' in a winning streak? Why do we expect heads on a coin toss after several flips have turned up tails? This book takes a look at the mathematics, history, and psychology of gambling to reveal various misconceptions about luck.

Joseph Mazur is professor emeritus of mathematics at Marlboro College. His books include "The Motion Paradox: The 2,500-Year-Old Puzzle behind All the Mysteries of Time and Space" and "Euclid in the Rainforest: Discovering Universal Truth in Logic and Math".

"From the dice-playing of Neolithic peoples to modern lotteries and casino capitalism, he tracks the history of placing bets. He explains both the mathematics of chance and the psychological and emotional factors that entice some people to risk it all to win that improbable jackpot."--Joanne Baker, Nature "In What's Luck Got to Do With It?, mathematician Joseph Mazur explores these misconceptions, taking the reader on an entertaining and accessible tour of the history of gambling, the way mathematicians quantify luck and the psychology that keeps gamblers returning to the table. A book worth taking a chance on."--New Scientist "Doubtless aimed at the interested gambler, the frequent cultural references, anecdotes and intervention of psychology nevertheless make the book appealing reading."--Times Higher Education "Both an analysis of the idea of luck, the gambling impulse, and a history of it, stretching back to Neolithic times, the Renaissance (Francis Drake and Ben Johnson often played hazard--an early form of dice) up to the age of one-arm bandits."--Steven Carroll, The Age "Because Mazur's not judgmental about luck and gambling, but is analytical, the book is a winner. It's not just a mathematician telling us that we'll never hit a million-dollar jackpot--it's a mathematician looking at why we continue to hope to hit that jackpot. This book should be required reading for anyone in the casino business, and anyone who spends more than a fraction of their disposable income on gambling should find it informative, if nothing else. It's a reasoned, but also passionate, search for the meaning of luck that may change the way you look at a pair of dice--or your mortgage."--dieiscast.com "What's Luck Got to Do with It? is an entertaining and informative history of gambling beginning with the Ice Age... Anyone who has an interest in probability will enjoy Mazur's ideas and insights."--Mathematics Teacher "Readers will find many an unexpected treat in Mazur's exploration of luck, or, as Mazur might say, the likelihood of long runs of desired outcomes within the purview of the law of large numbers."--Andrew James Simpson, Mathematical Reviews Clippings