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Advance-deposit Wagering
Advance-deposit wagering (ADW) is a form of gambling on the outcome of horse races in which bettors must fund their account before being allowed to place bets. ADW is often conducted online or by phone. In contrast to ADW, credit shops allow wagers without advance funding; accounts are settled at month-end. Racetrack owners, horse trainers and state governments sometimes receive a share of ADW revenues. It typically involves betting on horse or greyhound racing. Wagering may take place through parimutuel Parimutuel betting or pool betting is a betting system in which all bets of a particular type are placed together in a pool; taxes and the "house-take" or "vigorish" are deducted, and payoff odds are calculated by sharing the pool among all winnin ... pools. Legality Illinois was the first state to offer ADW and has allowed its adult residents to participate in ADW since 1999 under the Illinois Horse Racing Act of 1975; Illinois receives a cut of ADW revenues. Shortly thereafte ... [...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] |
Horse Racing
Horse racing is an equestrian performance sport, typically involving two or more horses ridden by jockeys (or sometimes driven without riders) over a set distance for competition. It is one of the most ancient of all sports, as its basic premise – to identify which of two or more horses is the fastest over a set course or distance – has been mostly unchanged since at least classical antiquity. Horse races vary widely in format, and many countries have developed their own particular traditions around the sport. Variations include restricting races to particular breeds, running over obstacles, running over different distances, running on different track surfaces, and running in different gaits. In some races, horses are assigned different weights to carry to reflect differences in ability, a process known as handicapping. While horses are sometimes raced purely for sport, a major part of horse racing's interest and economic importance is in the gambling associated with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prepayment For Service
Prepaid refers to services paid for in advance. Examples include postage stamps, attorneys, tolls, public transit cards like the Greater London Oyster card, pay as you go cell phones, and stored-value cards such as gift cards and preloaded credit cards. Prepaid services and goods are sometimes targeted to marginal customers by retailers. Prepaid options can have substantial cost reductions over postpaid counterparts because they allow customers to monitor and budget usage in advance. Unlike postpaid or contract based services, prepaid accounts can be obtained with cash. As a result, they can be established by people who have minimal identification or poor credit ratings. Minors, immigrants, students, defaulters, and those on low incomes are typical prepaid customers. Prepaid mobile phones Recent statistics (OECD ''Communications Outlook'' 2005) indicate that 40% of the total mobile phone market in the OECD region consists of prepaid accounts. This service was invented by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greyhound Racing
Greyhound racing is an organized, competitive sport in which greyhounds are raced around a track. There are two forms of greyhound racing, track racing (normally around an oval track) and coursing; the latter is now banned in most countries. Track racing uses an artificial lure (usually a form of windsock) that travels ahead of the greyhounds on a rail until the greyhounds cross the finish line. As with horse racing, greyhound races often allow the public to bet on the outcome. In many countries, greyhound racing is purely amateur and solely for enjoyment. In other countries, particularly Australia, Ireland, the United Kingdom, and the United States, greyhound racing is similar to horse racing in that it is part of the gambling industry. Animal rights and animal welfare groups have been critical of the welfare of greyhounds in the commercial racing industry for many years which has contributed to the reforms of the industries in recent years. A greyhound adoption movement spe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parimutuel Betting
Parimutuel betting or pool betting is a betting system in which all bets of a particular type are placed together in a pool; taxes and the "house-take" or "vigorish" are deducted, and payoff odds are calculated by sharing the pool among all winning bets. In some countries it is known as the tote after the totalisator, which calculates and displays bets already made. In short, the word ''parimutuel'' implies tiered winnings/earnings. The parimutuel system is used in gambling on horse racing, greyhound racing, jai alai, and other sporting events of relatively short duration in which participants finish in a ranked order. A modified parimutuel system is also used in some lottery games. Definition Parimutuel betting differs from fixed-odds betting in that the final payout is not determined until the pool is closed – in fixed odds betting, the payout is agreed at the time the bet is sold. Parimutuel gambling is frequently state-regulated, and offered in many places where gamb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gambling Terminology
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 universa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Horse Racing In The United States
Horse racing in the United States dates back to 1665, which saw the establishment of the Newmarket course in Salisbury, New York, a section of what is now known as the Hempstead Plains of Long Island, New York. This first racing meet in North America was supervised by New York's colonial governor, Richard Nicolls. The area is now occupied by the present Nassau County, New York, region of Greater Westbury and East Garden City. Horse racing remains a popular sport throughout the United States. Thoroughbred racing in the United States The American Stud Book was started in 1868, prompting the beginning of organized horse racing in the United States. Horse racing, especially thoroughbred racing, was a sport enjoyed by all during the progressive era. According to Steven A. Reiss " Thoroughbred racing was the rare sport that was trending with both social and economic elites and the lower classes". Horse racing was an enamored sport that was popular for its time in all regions of the Uni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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