The Math That Gaming Made (Book 11) is one of the best publications about important concepts in the casino industry that has ever been written. But in making that statement, I have a giant conflict of interest.
First, a lengthy background. The inaugural edition featured a striking orange and white cover, contained 3/8 of an inch of insightful content, and was priced at $100. The quality of publication was exceptional, but more important, it was among the first texts to emphasize the importance of “business intelligence” applied to the gaming sector.
Much of the content was derived from articles published in the now-defunct Casino Enterprise Management Magazine (CEMM). Some of these articles first appeared as early as 2008.
Historically, I have expressed concerns over the industry’s reluctance to share information. This barrier may stem from our somewhat clandestine past, marked by Las Vegas’s mob influences in the 1950s and ’60s, or perhaps from an ingrained belief that our proprietary and “secret” approaches to business were too valuable to be shared with competitors.
This culture started to shift when Peter Mead founded CEMM in 2003. Under his guidance, the magazine became a key player in disseminating practical insights on management, product, marketing, leadership, analytics, human resources, and regulation until his premature passing in 2015 at the age of 54.
Mead’s legacy was honored with the establishment of the Peter Mead Memorial Award by the Association of Gaming Equipment Manufacturers in 2016, recognizing excellence in gaming media and communications.
I wrote a few articles for CEMM and Peter, but by far the most prolific early contributor was Andrew Cardno. He was, and is, a developer of analytical software (first Compudigm, later Viz Explorer, and now Quick Custom Intelligence or QCI). UNLV professor Ashok Singh, an expert in applied statistics, often joined him to co-author some of these early pieces. When Cardno founded Viz Explorer, he met mathematician and casino analyst Ralph Thomas; they too co-authored numerous articles.
The trio continued to share ideas and write numerous articles for other magazines and websites. Cardno and Thomas teamed up to found QCI in 2020. And they still write extensively. Singh continues his work at UNLV. By 2021, their book (now with a blue cover) had grown to 152 pages. Did I mention that this trio and their associates are prolific writers?
Another 2023 edition had a red cover, a $189 price tag, and 349 pages. Fast forward to the spring of 2024 during the IGA Conference and we see the release of an overweight two-volume compendium, encompassing 3½ inches in thickness and commanding a price of $500.
While the content expanded, it remained consistently excellent. But the quick turnover between editions led to some editorial oversights, including a misleading Table of Contents, misnumbered pages, inconsistent line spacing, and disjointed article placements.
Now to my conflict. When I pointed out these errors, Quick Custom Intelligence (QCI) asked if I would assist their team in editing a new version. I agreed, but asked if I could make some enhancements to the Glossary by adding some floor operational terms. Lastly, they asked if I could write an introduction. So clearly, this review is totally subjective.
Having explained my conflicts, I’ll again say, The Math That Gaming Made (Book 11) is one of the best publications about important concepts in the casino industry that has ever been written.
The new book now has a green cover. It has some new material, but also all the previous content of the massive Book 10. With improvements in typography, it has been reduced to just 683 pages and is a slim and trim 1½ inches thick. It’s also 50% cheaper at $249.
If any of you purchased the previous book, you made a wise decision, since the subject matter, despite some publishing errors, was superb. That said, the authors will exchange your Book 10 (or a copy of a receipt) for the new Book 11 at no cost, other than shipping. Better yet, you can visit the QCI booth at G2E Las Vegas and pick up a new one (I’d ask for an autograph from Thomas or Cardno at the same time.)
Don’t let the title intimidate you. Whether we like it or not, “math” is at the heart of everything we do in gaming. Yet the authors, with rare exceptions, write for general audiences, not mathematicians, in mind. The concepts are largely math based, but useful and easily put into practice. It would be rare for a gaming professional to find any of this material overwhelming.
Three specific topics that I found fascinating were their tips on “Test & Control,” “Clustering,” and “Hold, Another Sacred Cow.” There are literally dozens and dozens of other examinations of subjects from slot analytics, floor layouts, marketing, hosting, rebates, and free play that are both enlightening and thought provoking.
