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Parlay (other)
A parlay, accumulator (or acca), combo bet, or multi is a single bet that links together two or more individual wagers, usually seen in sports betting. Winning the parlay is dependent on all of those wagers winning together. If any of the bets in the parlay lose, the entire parlay loses. If any of the plays in the parlay ties, or "pushes", the parlay reverts to a lower number of wagers with the payout odds reducing accordingly. Parlay bets are high-risk, high-reward; linking the possibilities drastically reduces the chance of the bet paying off overall. The benefit of the parlay is that there are much higher pay-offs, although as usual, casinos and bookkeepers offering parlays often exploit the poor calculation of gamblers by not increasing the pay-out as much as the odds truly demand, with the effect of the house edge increasing in parlays. Although a variety of bets can be used to build a parlay bet, correlated parlays are usually not allowed by traditional bookmakers. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gambling
Gambling (also known as betting or gaming) is the wagering of something of value ("the stakes") on a random event with the intent of winning something else of value, where instances of strategy are discounted. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize. The outcome of the wager is often immediate, such as a single roll of dice, a spin of a roulette wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season. The term "gaming" in this context typically refers to instances in which the activity has been specifically permitted by law. The two words are not mutually exclusive; ''i.e.'', a "gaming" company offers (legal) "gambling" activities to the public and may be regulated by one of many gaming control boards, for example, the Nevada Gaming Control Board. However, this distinction is not u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sports Betting
Sports betting is the activity of predicting sports results and placing a wager on the outcome. The frequency of sports bet upon varies by culture, with the vast majority of bets being placed on association football, American football, basketball, baseball, hockey, track cycling, auto racing, mixed martial arts, and boxing at both the amateur and professional levels. Sports betting can also extend to non-athletic events, such as reality show contests and political elections, and non-human contests such as horse racing, greyhound racing, and cockfighting. It is not uncommon for sports betting websites to offer wagers for entertainment events such as the Grammy Awards, the Oscars, and the Emmy Awards. Sports bettors place their wagers either legally, through a bookmaker/sportsbook, or illegally through privately run enterprises referred to as "bookies". The term "book" is a reference to the books used by wage brokers to track wagers, payouts, and debts. Many legal sportsbooks ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Casino Game
Games available in most casinos are commonly called casino games. In a casino game, the players gamble cash or casino chips on various possible random outcomes or combinations of outcomes. Casino games are also available in online casinos, where permitted by law. Casino games can also be played outside casino for entertainment purposes like in parties or in school competitions, some on machines that simulate gambling. Categories There are three general categories of casino games: gaming machines, table games, and random number games. Gaming machines, such as slot machines and pachinko, are usually played by one player at a time and do not require the involvement of casino employees to play. Tables games, such as blackjack or craps, involve one or more players who are competing against the house (the casino itself) rather than each other. Table games are usually conducted by casino employees known as croupiers or dealers. Random number games are based upon the selection of rand ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independence (probability Theory)
Independence is a fundamental notion in probability theory, as in statistics and the theory of stochastic processes. Two events are independent, statistically independent, or stochastically independent if, informally speaking, the occurrence of one does not affect the probability of occurrence of the other or, equivalently, does not affect the odds. Similarly, two random variables are independent if the realization of one does not affect the probability distribution of the other. When dealing with collections of more than two events, two notions of independence need to be distinguished. The events are called pairwise independent if any two events in the collection are independent of each other, while mutual independence (or collective independence) of events means, informally speaking, that each event is independent of any combination of other events in the collection. A similar notion exists for collections of random variables. Mutual independence implies pairwise independence ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mobile Gambling
Mobile gambling refers to playing games of chance or skill for money by using a remote device such as a tablet computer, smartphone or a mobile phone with a wireless internet connection. Over a hundred mobile casinos were operating as of December 2013, with most of the big casino operators in gambling now providing a mobile platform for their player base. Market In 2003, The Mobile Lottery launched in the United Kingdom as the first mobile gambling venture in the country. After wireless gambling on casino grounds was legalized in June 2005, in March 2006, the Nevada Gaming Control Board "cleared the way for businesses to propose ways in which establishments can offer wireless gambling." In 2006, Europe was the largest market for mobile gambling, but "telecommunications analysts predict that Asia will catch up soon." At the time, a limitation of suitable phones in Asia and unclear legal situations in certain locales was limiting growth, with legal mobile gambling in Asia restricted ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Proposition Bet
In gambling, a "proposition bet" (prop bet, prop, novelty, or a side bet) is a bet made regarding the occurrence or non-occurrence during a game (usually a gambling game) of an event not directly affecting the game's final outcome. Proposition bets in sports are differentiated from the general bets for or against a particular team or regarding the total number of points scored. Traditionally, proposition bets can be made on outcomes such as the number of strikeouts a pitcher will accumulate in a baseball game, whether a non-offensive player will score in an American football game, which team will score the first points of the game, the discipline record of teams in a match, the timing of certain events, the number of specific events per team or in the entire match, realistically any statistically discrete event contained in a match or game could be bet on. Fixing part of a match for a certain result in a proposition bet is called spot-fixing. Examples There are a wide range of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Expected Value
In probability theory, the expected value (also called expectation, expectancy, mathematical expectation, mean, average, or first moment) is a generalization of the weighted average. Informally, the expected value is the arithmetic mean of a large number of independently selected outcomes of a random variable. The expected value of a random variable with a finite number of outcomes is a weighted average of all possible outcomes. In the case of a continuum of possible outcomes, the expectation is defined by integration. In the axiomatic foundation for probability provided by measure theory, the expectation is given by Lebesgue integration. The expected value of a random variable is often denoted by , , or , with also often stylized as or \mathbb. History The idea of the expected value originated in the middle of the 17th century from the study of the so-called problem of points, which seeks to divide the stakes ''in a fair way'' between two players, who have to end th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Probability
Probability is the branch of mathematics concerning numerical descriptions of how likely an Event (probability theory), event is to occur, or how likely it is that a proposition is true. The probability of an event is a number between 0 and 1, where, roughly speaking, 0 indicates impossibility of the event and 1 indicates certainty."Kendall's Advanced Theory of Statistics, Volume 1: Distribution Theory", Alan Stuart and Keith Ord, 6th Ed, (2009), .William Feller, ''An Introduction to Probability Theory and Its Applications'', (Vol 1), 3rd Ed, (1968), Wiley, . The higher the probability of an event, the more likely it is that the event will occur. A simple example is the tossing of a fair (unbiased) coin. Since the coin is fair, the two outcomes ("heads" and "tails") are both equally probable; the probability of "heads" equals the probability of "tails"; and since no other outcomes are possible, the probability of either "heads" or "tails" is 1/2 (which could also be written ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Full Cover Bet
A full cover bet is any bet which consists of all available multiple bets over a given number of selections. Examples of full cover bets: * '' Trixie'' - three selections * ''Yankee'' - four selections * '' Canadian or Super Yankee'' - five selections * '' Heinz'' - six selections * '' Super Heinz'' - seven selections * ''Goliath'' - eight selections Examples of full cover bets with singles included: * ''Patent'' - three selections * '' Lucky 15'' - four selections * '' Lucky 31'' - five selections * '' Lucky 63'' - six selections The ''Lucky'' bets are so named because of the bookmaker's practice of offering bonuses for one or more winning selections; most common of which is 'double the odds' for one winner. The offering of a percentage increase in winnings for the success of two or more selections in these ''Lucky'' bets is primarily to compensate for the compounding of the overround when two or more events with individual overrounds on their books are combined in doubles, tre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trixie (bet)
This is a non-exhaustive list of traditional and popular bets offered by bookmakers in the United Kingdom. The 'multiple-selection' bets in particular are most often associated with horse racing selections but since the advent of fixed-odds betting on football matches some punters use these traditional combination bets for football selections as well. Types of bet Win :A bet that produces a return only if the selection comes first in an event (i.e. wins). A win bet may be placed on a single event. Place :A bet that produces a return only if the selection finishes first or within a predetermined number of positions (places) of the winner of an event. The return is often based on a fixed proportion of the win odds of the selection. Each-way :A combination of win and place bets of equal size. Each-way bets may be placed on a single event or on two or more selections in a multiple bet. Each-way multiple bets are settled on a win-to-win and place-to-place basis. Single :A bet on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Each-Way (bet)
An each-way bet is a wager offered by bookmakers consisting of two separate bets: a win bet and a place bet. For the win part of the bet to give a return, the selection must win, or finish first, in the event. For the place part of the bet to give a return, the selection must either win or finish in one of the predetermined places for the event, such as first place or second place. The odds paid on the place part of the bet are usually a fraction (commonly , , or ) of the win odds. The trade-off being that one has a greater chance of making one's bet in trade for getting less payoff for doing so. Examples are domestic football knockout competitions (e.g. FA Cup) where the quoted place terms may be . In horse racing in the United Kingdom, the "place" is set strictly by the Jockey Club and will depend on the size of the field (that is, how many horses are running) so that the "place" may be just 1st and 2nd, 1st 2nd and 3rd, or even 1st 2nd 3rd or 4th on a big race like the Grand ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Progressive Parlay
A progressive parlay is a joint wager on multiple events, for example team sports or horse races. Generally a progressive parlay involves a joint wager on four to twelve separate events. Should all the selected bets win, the bettor receives a relatively large payout, because of the sizable odds against this happening. However, unlike a regular parlay, if some of the individual bets lose, but most win, the bettor still wins, although with a much smaller payout. Several sites use a schedule where the bettor can lose one bet on a 4-6 event progressive parlay, can lose up to two bets on a 7-9 event progressive parlay, and up to three bets on a 10-12 event progressive parlay. The term has also been used for a long series of wagers on roulette or other gambling games, where the bettor attempts to rely on a "stream of luck". Strategies Several strategies have been suggested by gambling consultants when wagering on parlays or progressive parlays, one of them being to pick interrelated o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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