Can Game Theory Gambling Strategies Help You Win?
Posted: October 28, 2020
Updated: October 29, 2020
The complex world of gambling mathematics has blossomed to now encompass just about everything. Our computer age hinges on an analysis of our desires and needs that stems entirely from game theory. Governments apply game theory gambling strategies to real-world situations. This must, then, mean these theories are the best to use at online betting sites in the UK like Bet365. Right? Well sort of. Despite being very powerful tools, game theory betting strategies are tricky beasts.
Image source: brewbooks from near Seattle, USA, CC BY-SA 2.0, via Wikimedia Commons
The study of games is nothing new. Using those studies to predict the future of society is. Game theory has taken over in this regard. Financial institutions, government departments, and militaries all now use it. It is the analytical tool of our age. So then it’s only right we should use some game theory gambling strategies to fill out our bankroll, right? Well not necessarily. Just a little ironically game theory is far more useful once you move away from the game itself.
Originally, of course, the game was the central crux. The study of Le Her in the early 1700s probably the first proto-game theory exploration. But these very focused examinations quickly game way to more generalized assessments. They started out looking at game theory gambling strategies that could be discerned. However, they ended up with a map of people’s behavior. A map anyone taking advantage of UK gambling laws should at least know exists. It controls their lives.
Getting to grips with game theory isn’t actually all the difficult. Much of it, to someone who perhaps likes to play poker online, will be slightly obvious. However, the complex mathematics behind game theory gambling strategies can often give you an edge. The degree to which in any situation that can assist you more than instinct or experience is debatable. When you hit up online sportsbook sites in the UK like Bet365 just how much do you base your choices on maths alone?
“Well, if the rules of the game force a bad strategy, maybe we shouldn’t try to change strategies. Maybe we should try to change the game.”
- Brian Christian/ Tom Griffiths
The expansion of game theory, and the identification of ever more parts of it, create an issue. A player must be aware of precisely what game he or she is playing in mathematical terms. There is no point in applying the game theory gambling strategies of one game to another. Games, in this context, are only systems after all. However just because you can rationalize a game down to its component parts doesn’t mean you can gain mastery over it. Game theory is a doubled-edged sword
The major problem is that it is so ubiquitous. The concepts and ideas behind game theory gambling strategies are well known to all. That means for all the benefit they might grant you, they can be just as easily employed against you. That’s why huge businesses have sprung up to keep corporations one step ahead in their analysis. Aladdin is the obvious example, but there are others. Vast machines that use game theory analysis to not just predict but steer our futures.
Players applying it correctly can have game theory assist them. That requires them to assess the EV, or expected value, of their session prior to starting. It is an assessment that will have to be repeated and modified as the session goes on. Gamblers live in the grey area between expected value and actual value. That’s where you win big. However gambling with game theory isn’t as simple as it sounds. This is mostly because the game is not really what you’re trying to beat.
“You don’t have to be a mathematician to have a feel for numbers.”
- John Nash
In poker game theory tactics are commonplace. It is one of the few games to which game theory gambling strategies can be usefully applied. This is because you are, far from trying to beat the cards, trying to beat the people holding the cards. Game theory is a superb tool for predicting people. It just won’t tell you if there’ll be an ace on the river in a game of Texas Hold’em. Game theory is a vast, vital, and very complex mathematical underpinning of our world. That you can use it to give you an edge in poker or when you bet on sports in the UK at Bet365 is just a bonus.
We take a look at game theory gambling strategies that predict modern society can also help us to understand the games we’re playing.