Are the Best Gamblers Skilled, or Just Lucky?

From poker to horse racing, the statistics involved in coming out on top.

RELATED TAGS: MATH
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If you ever visit a Las Vegas casino, look up. Hundreds of cameras cling to the ceiling like jet-black barnacles, watching the tables below. The artificial eyes are there to protect the casino’s income from the quick-witted and light-fingered. Until the 1960s, casinos’ definition of such cheating was fairly clear-cut. They only had to worry about things like dealers paying out on losing hands or players slipping high-value chips into their stake after the roulette ball had landed. Th...
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