Mason Malmuth was born and raised in Coral Gables, Florida. In 1973 he received his BS in Mathematics from Virginia Tech, and completed their Masters' program in 1975. While working for the United States Census Bureau in 1978, Mason stopped overnight in Las Vegas while driving to his new assignment in California. He was immediately fascinated by the games, and gambling became his major interest. After arriving in California he discovered that poker was legal and began playing in some of the public cardrooms as well as taking periodic trips to Las Vegas where he would play both poker and blackjack. In 1981 he went to work for the Northrop Corporation as a mathematician and moved to Los Angeles where he could conveniently pursue his interest in poker in the large public cardrooms in Gardena, Bell Gardens, and Commerce. In 1983 his first article "Card Domination - The Ultimate Blackjack Weapon" was published in Gambling Times magazine. In 1987 he left his job with the Northrop Corporation to begin a career as both a full-time gambler and a gambling writer.

He has had over 500 articles published in various magazines and is the author or co-author of 13 books. These include Gambling Theory and Other Topics, where he tries to demonstrate why only a small number of people are highly successful at gambling. In this book he introduces the reader to the concept of "non-self weighting strategies" and explains why successful gambling is actually a balance of luck and skill. Other books he has co-authored are Hold 'em Poker For Advanced Players, written with David Sklansky, and Seven-Card Stud For Advanced Players written with David Sklansky and Ray Zee. All the "advanced" books are considered the definitive works on these games. His company Two Plus Two Publishing has sold over 300,000 books and currently has 24 titles to its credit. These books are recognized as the best in their field and are thoroughly studied by those individuals who take gambling seriously.