A Guide to Casino Mathematics
by Robert C. Hannum · UNLV Gaming Studies Research Center
Free 25-page PDF covering handle, drop, hold, house edge, and the 'theo' formula casinos use to rate players.
More resources on Probability & Statistics
Probability Theory: The Logic of Science
Upgrades epistemology by treating probability as the rigorous logic of science and reasoning under incomplete information.
The Mathematics of Poker
2006. Where the Risk of Ruin mathematics comes from. The most enjoyable book on this list if you like equations.
The Theory of Gambling and Statistical Logic
2nd edition, 2009. The primary text on gambling mathematics, and heavy going. The place to end up rather than the place to start.
Practical Casino Math
2nd edition. The textbook version of Hannum's free casino-math guide; only worth buying for the full treatment.
The Economics of Casino Gambling
Free on the AEA site. The source of the house-advantage and standard-deviation table used in casino-math introductions.
Reports, Data Sets & Research Guides
Free datasets: Nevada 1990-2025, Atlantic City 1978-2013, and dedicated hold-percentage series going back to 1992.