Learning mathematics or losing money—betting as a topic for mathematical education

No risk, no fun—betting on sports events costs the gamblers a lot of money and brings excellent profits to those who offer the bets. Among the people who bet on a regular basis, the proportion of young adults is frighteningly high. We now suggest a concept (as part of a basic mathematics course) for acquiring the necessary mathematical knowledge to be able to look behind the screen of the gambling game, as betting via the Internet has become increasingly popular. Learners should organize a sports event (or a simulation of such an event), found in several different types of betting offices and offer odds. Other participants receive virtual money in order to bet. When the results are fixed, the learners calculate their gains (profits) and their losses. As a consequence, the participants learn to use mathematics as a necessary tool for real-life situations by considering the exploring teaching method. Results of an experimental class who had to discuss this topic are shown below. First, we start with some background information about bets and the mathematical calculation of odds, then go on with a suggestion for a self-organized learning process including a kicking simulation in the classroom to understand the mathematical and ethical field of gambling, and we offer some more ways of reflecting the problem and learning about probability.