A proven theorem of game theory states that every game with complete information possesses a saddle point and therefore a solution. - Richard Arnold Epstein

Although the major gambling casinos do not maintain statistical records on the results of games of Craps, one event has been recorded-that wherein a young man achieved 28 consecutive "passes" at the Desert Inn Casino, Las Vegas, Nevada (June 10, 1950). Odds against such an event are 400 million to 1.

A weakness of the random-walk model lies in its assumption of instantaneous adjustment, whereas the information impelling a stock market toward its "intrinsic value" gradually becomes disseminated throughout the market place.

The first-known public lottery was sponsored by Augustus Caesar to raise funds for repairing the city of Rome; the first public lottery awarding money prizes, the Lotto de Firenze, was established in Florence in 1530.