This is the first of a couple of posts on the mathematical approach known as the Monte Carlo method. I want to start gently by taking a (virtual) trip to Monte Carlo in Monaco and its famous casino, specifically to explore a once well known phrase - the man who broke the bank at Monte Carlo. The article below is extracted from my book Dice World . A roulette wheel is a physical device, and as such is not a perfect mechanism for producing a random number between 1 and 37 (or 38 in the more money-grabbing US casinos). Although wheels are routinely tested, it is entirely possible for one to have a slight bias – and just occasionally this can result in a chance for players to make a bundle. It certainly did so for 19th-century British engineer Joseph Jagger, who has, probably incorrectly, been associated with the song ‘The Man Who Broke the Bank at Monte Carlo’, which came out around the same time as Jagger had a remarkable win in Monaco. The song probably referred instead to the conman Ch...