Because the fluctuations in the composition of the deck as it is dependent over successive (and dependent) trials, it is intuitively apparent that al… - Richard Arnold Epstein

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.

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.

From a rational standpoint, it might be expected that man should be far more willing to express financial confidence in his skills rather than risking his earnings on the mindless meanderings of chance. Experience, however, has strongly indicated the reverse proposition to hold true.