The Actuarial Science Club at IUPUI will host their first Casino Night on Saturday, April 16.
Actual gambling for money or prizes is not allowed by the university, but attendees will still get the casino experience. The Casino Night will have gaming tables, a roulette wheel, professional dealers, and a cashier’s station. Participants will receive a goodie bag rather than prizes and will be given play money to use during the event. How long a participant lasts through the event will depend on their skill at the various tables.
“We chose to do a Casino Night because we hoped we could bring a real world application of mathematics, probability, and statistics to the students,” Jake Yardas, the club’s Secretary, said.
Actuarial science is a branch of mathematics that, according to the Economic Times, calculates the risks involved in insurance and finance fields using mathematical and statistical methods.
“What interested me about actuarial science is that it’s continuously analytically challenging,” Ricardo Zelaya, the club’s Social Event Coordinator, said. “I have a big appetite when it comes learning new things, especially with numbers. What fascinates me about the field is it’s really adaptable to whatever interest, from science, sports, technology, economics, and movies.”
There are different career fields that actuarial scientists can choose from such as actuarial analytics, data science, applied mathematics, applied statistics, business finance, banking, econometrics, and general economics.
“A degree in mathematics with an actuarial specialization at IUPUI is one of the most versatile degrees a student can choose to pursue,” Yardas said.
Students will receive a free dinner during the Casino Night. There will also be a photo booth with props. The photos that are taken will later be posted on the club’s Facebook page.
The club is involved in several different activities. Each year they attend a conference for actuarial students where participants can attend a career fair and informational session with professionals from around the country. At the end of this semester the club will have presentations by actuarial employers from around Indianapolis.
The club is also involved in IUPUI’s campus.
“We sponsored a lecture with Dr. William Cross for students to learn more in depth insight on the subject of algebra,” Yardas said. “We also sponsored an emergency actuarial exam P review session, covering all of the material on the syllabus, led by Dr.Cross, for those students taking the exam in April.”
The club has also held leadership workshops in the past and plans to hold software skills workshops in the fall 2016.
The Actuarial Science Club currently has over 67 members after starting in fall 2014 with only six members. The club had existed prior to that date, but had not been active for a few years. Students from IUPUI, Indiana University Purdue University Columbus, IU Bloomington, and Ivy Tech can become members. Students involved in the club do not have to pay membership fees but are required to perform community service.
Students, faculty, and staff are invited to attend Casino Night. The event will take place in the Campus Center room CE 450A from 4-7 p.m. Those interested can RSVP on the Actuarial Science Club’s Facebook page.