What are the theories of gambling?

Gambling theory

There are many theories and strategies in gambling, some of which have been proven, others not. It's up to you to choose.

Martinagale Theory

This theory is used in many games, including roulette and blackjack. According to it, a player should double his bet after each loss in order to recover his previous winnings and make a profit on the next win. This theory is based on the assumption that a win will follow a series of losses, but it can be dangerous as a player can quickly lose his budget.

Kelly theory

This theory is used more for sports betting and other betting options with discrete outcomes. It assumes that a player should bet an amount that is proportional to his expected winnings, i.e. the bet should be the ratio of the expected winnings to the amount of available funds.

Probability theory - this theory is mainly used in games of chance, such as roulette and craps. It implies that a player should know the probability of a certain outcome and place his/her bet accordingly. For example, roulette has 18 red and 18 black numbers, so the probability of winning on each number is 1/37.

About chaos theory you can read in this article: https://macsources.com/what-is-chaos-theory-can-it-beat-the-house/

Card counting theory

This theory is used in blackjack and assumes that the player should keep a record of the cards that have been dealt to understand what cards are left in the deck. If there are a lot of high cards left in the deck, the player can place higher bets, as the probability of getting high cards during the next hand increases.

Strategy change theory

This theory is about changing the game strategy if it does not bring the desired result. For example, if a player plays blackjack using a basic equation strategy and fails, he can switch to a more complex card counting strategy.

Game of luck theory

This theory suggests that winning a game depends on the player's luck. Games such as slot machines are mainly based on this theory. A player can give his attention to choosing a particular machine that is known for its high payouts in the past.

Expert Theory

This theory suggests that a player should follow the tips and strategies of experienced players who usually have more knowledge and experience in the game.

It's worth remembering that none of these theories can guarantee a win at a casino, and a player should play responsibly and with due regard to the risks associated with gambling.