Probability Primers
First, please realize there is no single book that will allow you to thoroughly grasp everything in Griffin. You need a few years of college level math, concentrating on probability and statistics, to wrestle with the appendices. (I have minor in math, but I'm waiting 'til I'm retired to try and plow through the hard stuff!)
The best book I have found for gamblers who are interested in learning the essentials is "The Mathematics of Games and Gambling" by Edward Packel. It concentrates exclusively on gambling applications for all the examples -- just the right amount of historical and motivational material. It takes you by the hand through the genesis of elementary probability, permutations, combinations, binomial distribution, normal distribution, betting systems, game theory, and risk of ruin without ever cracking an integral! No calculus required. Intuition is appealed to for the leap from the binomial to the normal distribution.
You will need to study this book - you don't read a math text like a novel - but this is only book I know that gets the job done in 141 very concise, engrossing pages.
If you want more after Packel, get "Statistics the Easy Way." by Downing. This will get your feet wet through multiple regression, and calculus is not required except for a few advanced proofs which are specially marked in the text.
Another VERY lovely text is "Elementary Probabiity," by Thorp. However, you should have a strong math background, or a patient tutor, before venturing here. Some of those problems are doozies! (At the end of Chapter 1, on page 13 we find: "For each possible dealer's upcard, use a computer to determine the probabilities of the various dealer's totals: 17, 18, 19, 20, 21 and over 21." Right. No problem. ;-}) Thorp assumes the reader is actively studying several texts - not just his.
Many modern university texts strive for great generality (ie. broad application of the "strong" law of large numbers and central limit theory). You need a year or two of calculus under your belt to make headway, and most gamblers don't want or need this level of sophistication, IHO.
For those who prefer a very relaxed pace, there's the ever popular "Lady Luck" by Weaver. However, after reading the 300+ pages, you'll still have a loooooong way to go. :-)
All of these are available, new or used, at very reasonable prices -- well under $30, I believe. Packel, new, may have to be back ordered, but you can get a clean used copy for under $10 without delay. What a bargain.! Do a search on www.abe.com.
L:U:C:K
ETF
