Saturday, September 10, 2011

Wanna be One of Them?

Gambling- describing betting money (or anything of material value) on an incident with indeterminate outcomes, with the anticipation of winning more as a result, is one of the oldest recognized pursuits of mankind. It is even said, that Zeus, Hades and Poseidon have divided Earth, Hell and Sea with throwing a dice. Many popular people of all times were keen on gambling, and some even made great contributions to mankind- in gambling or non-gambling fields. Some of them are listed below, so enjoy reading.
Italian mathematician Leonardo Pisan, born in Pisa in 1170 developed the Fibonacci System based on the Fibonacci sequence. The system is widely used while playing Roulette; Craps or other games of pure chance, which are usually more risky because of the fixed odds.
Gambling contributed to the progress of mathematics, such as Probability theory, in relation to analysis of random phenomena. This all happened in France, in early 17th century, with a dispute of Antoine Gombaud, Chevalier de Méré, a French nobleman who was highly keen on gambling. He asked his friend, famous French mathematician Blaise Pascal to estimate the chance of at least one “double six” incidence in dice game, to decide whether to wager money or not. With the help of Blaise Pascal, Antoine identified, that betting on a “double six” in 24 throws would definitely be profitable. Other problems with the gambling result calculation forced Antoine Gombaud to keep swapping letters with mathematicians, Pierre de Fermat and Pascal to help him bet more gainfully. This is how the fundamental principles of Probability Theory were formulated.
John Montague was British politician. He served variously as secretary of state and first lord of the admiralty. He was also a hardened gambler, and this is where he gained most of his fame. He did not like to leave the gambling table, when he and the other gamblers became hungry, so told his servants to, “bring me a slice of meat between two slices of bread”. This was the birth of the first sandwich.
British politician Henry Labouchere, minister of finance of Queen Victoria, who was extremely fond of gambling, invented the Labouchere System that doubles the bet amount at every loss, to compensate all the lost bets at one win.
Allan Wilson publicized one more strategy called “Oscar’s Grind” in his book “The Casino Gambler’s Guide” in 1965. He met a gambler, named Oscar, who showed him detailed records of his winning system. The records guaranteed humble but steady profits.
Andres Martinez, a former editor of the Los Angeles Times formulated “Dopey Experiment”- betting strategy that definitely is an experiment with its content, as the name dictates. This particular way of betting is not meant to be taken as a serious betting strategy, and true to its name, it was meant purely as a “for fun” kind of betting strategy.
This is the incomplete list, missing out numerous famous people, whose passion towards gambling forced them to make genius inventions…. You can also be one of them…!!!


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