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Vigorish
Vigorish (also known as ''juice'', ''under-juice'', the ''cut'', the ''take'', the ''margin'', the ''house edge'' or simply the ''vig'') is the fee charged by a bookmaker (or ''bookie'') for accepting a gambler's wager. In American English, it can also refer to the interest owed a loanshark in consideration for credit. The term came to English usage via Yiddish slang ( yi, וויגריש, translit=vigrish, translit-std=ISO, italic=unset), which was itself a loanword from Ukrainian ( uk, ви́граш, translit=výhraš, translit-std=ISO, lit= winnings, profit, italic=unset) or Russian (russian: вы́игрыш, translit=výigryš, translit-std=ISO, lit=gain, winnings, italic=unset). As a business practice it is an example of risk management; by doing so bookmakers can guarantee turning a profit regardless of the underlying event's outcome. As a rule, bookmakers do not want to have a financial interest creating a preference for one result over another in any given sporting ev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Advantage
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] |
Craps
Craps is a dice game in which players bet on the outcomes of the roll of a pair of dice. Players can wager money against each other (playing "street craps") or against a bank ("casino craps"). Because it requires little equipment, "street craps" can be played in informal settings. While shooting craps, players may use slang terminology to place bets and actions. History In 1788, "Krabs" (later spelled crabs) was an English variation on the dice game hazard (also spelled hasard). Craps developed in the United States from a simplification of the western European game of hazard. The origins of hazard are obscure and may date to the Crusades. Hazard was brought from London to New Orleans in approximately 1805 by the returning Bernard Xavier Philippe de Marigny de Mandeville, the young gambler and scion of a family of wealthy landowners in colonial Louisiana. Although in hazard the dice shooter may choose any number from five to nine to be his main number, de Marigny s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Odds
Odds provide a measure of the likelihood of a particular outcome. They are calculated as the ratio of the number of events that produce that outcome to the number that do not. Odds are commonly used in gambling and statistics. Odds also have a simple relation with probability: the odds of an outcome are the ratio of the probability that the outcome occurs to the probability that the outcome does not occur. In mathematical terms, where p is the probability of the outcome: :\text = \frac where 1-p is the probability that the outcome does not occur. Odds can be demonstrated by examining rolling a six-sided die. The odds of rolling a 6 is 1:5. This is because there is 1 event (rolling a 6) that produces the specified outcome of "rolling a 6", and 5 events that do not (rolling a 1,2,3,4 or 5). The odds of rolling either a 5 or 6 is 2:4. This is because there are 2 events (rolling a 5 or 6) that produce the specified outcome of "rolling either a 5 or 6", and 4 events that do ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spread Betting
Spread betting is any of various types of wagering on the outcome of an event where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome, such as fixed-odds (or money-line) betting or parimutuel betting. A point spread is a range of outcomes and the bet is whether the outcome will be above or below the spread. Spread betting has been a major growth market in the UK in recent years, with the number of gamblers heading towards one million. Financial spread betting (see below) can carry a high level of risk if there is no "stop". In the UK, financial spread betting is regulated by the Financial Conduct Authority rather than the Gambling Commission who regulate spread betting on sports. Purpose The general purpose of spread betting is to create an active market for both sides of a binary wager, even if the outcome of an event may appear ''prima facie'' to be biased towards one side or the other. In a sporting event a strong team may be ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathematics Of Bookmaking
In gambling parlance, making a book is the practice of laying bets on the various possible outcomes of a single event. The phrase originates from the practice of recording such wagers in a hard-bound ledger (the 'book') and gives the English language the term bookmaker for the person laying the bets and thus 'making the book'. Sidney 2003, pp. 13, 36 Making a 'book' (and the notion of overround) A bookmaker strives to accept bets on the outcome of an event in the right proportions in order to make a profit regardless of which outcome prevails. See Dutch book and coherence (philosophical gambling strategy). This is achieved primarily by adjusting what are determined to be the true odds of the various outcomes of an event in a downward fashion (i.e. the bookmaker will pay out using his actual odds, an amount which is less than the true odds would have paid, thus ensuring a profit). The odds quoted for a particular event may be fixed but are more likely to fluctuate in o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bookmaker
A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds. History The first bookmaker, Ogden, stood at Newmarket in 1795. Range of events Bookmakers in many countries focus on accepting bets on professional sports, especially horse racing and association football or Indian Premier League cricket. However, a wider range of bets, including on political elections, awards ceremonies such as the Oscars, and novelty bets are accepted by bookmakers in some countries. Operational procedures By "adjusting the odds" in their favour (paying out amounts using odds that are less than what they determined to be the true odds) or by having a point spread, bookmakers aim to guarantee a profit by achieving a 'balanced book', either by getting an equal number of bets for each possible outcome or (when they are offering odds) by getting the amounts wagered on each outcome to reflect the odds. W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roulette
Roulette is a casino game named after the French word meaning ''little wheel'' which was likely developed from the Italian game Biribi''.'' In the game, a player may choose to place a bet on a single number, various groupings of numbers, the color red or black, whether the number is odd or even, or if the numbers are high (19–36) or low (1–18). To determine the winning number, a croupier spins a wheel in one direction, then spins a ball in the opposite direction around a tilted circular track running around the outer edge of the wheel. The ball eventually loses momentum, passes through an area of deflectors, and falls onto the wheel and into one of thirty-seven (single-zero, French or European style roulette) or thirty-eight (double-zero, American style roulette) or thirty-nine (triple-zero, "Sands Roulette") colored and numbered pockets on the wheel. The winnings are then paid to anyone who has placed a successful bet. History The first form of roulette was devised in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Doubling Cube
Backgammon is a two-player board game played with counters and dice on tables boards. It is the most widespread Western member of the large family of tables games, whose ancestors date back nearly 5,000 years to the regions of Mesopotamia and Persia. The earliest record of backgammon itself dates to 17th-century England, being descended from the 16th-century game of Irish.Forgeng, Johnson and Cram (2003), p. 269. Backgammon is a two-player game of contrary movement in which each player has fifteen pieces, known traditionally as 'men' (short for 'tablemen') but increasingly known as 'checkers' in the US in recent decades. These pieces move along twenty-four ' points' according to the roll of two dice. The objective of the game is to move the fifteen pieces around the board and be first to ''bear off'', i.e., remove them from the board. The achievement of this while the opponent is still a long way behind results in a triple win known as a ''backgammon'', hence the name of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mississippi
Mississippi () is a state in the Southeastern region of the United States, bordered to the north by Tennessee; to the east by Alabama; to the south by the Gulf of Mexico; to the southwest by Louisiana; and to the northwest by Arkansas. Mississippi's western boundary is largely defined by the Mississippi River. Mississippi is the 32nd largest and 35th-most populous of the 50 U.S. states and has the lowest per-capita income in the United States. Jackson is both the state's capital and largest city. Greater Jackson is the state's most populous metropolitan area, with a population of 591,978 in 2020. On December 10, 1817, Mississippi became the 20th state admitted to the Union. By 1860, Mississippi was the nation's top cotton-producing state and slaves accounted for 55% of the state population. Mississippi declared its secession from the Union on January 9, 1861, and was one of the seven original Confederate States, which constituted the largest slaveholding states in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nevada
Nevada ( ; ) is a state in the Western region of the United States. It is bordered by Oregon to the northwest, Idaho to the northeast, California to the west, Arizona to the southeast, and Utah to the east. Nevada is the 7th-most extensive, the 32nd-most populous, and the 9th-least densely populated of the U.S. states. Nearly three-quarters of Nevada's people live in Clark County, which contains the Las Vegas–Paradise metropolitan area, including three of the state's four largest incorporated cities. Nevada's capital is Carson City. Las Vegas is the largest city in the state. Nevada is officially known as the "Silver State" because of the importance of silver to its history and economy. It is also known as the "Battle Born State" because it achieved statehood during the Civil War (the words "Battle Born" also appear on its state flag); as the " Sagebrush State", for the native plant of the same name; and as the " Sage-hen State". The name means "snowy" in Spanish, re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Slot Machines
A slot machine (American English), fruit machine (British English) or poker machine ( Australian English and New Zealand English) is a gambling machine that creates a game of chance for its customers. Slot machines are also known pejoratively as one-armed bandits because of the large mechanical levers affixed to the sides of early mechanical machines and the games' ability to empty players' pockets and wallets as thieves would. A slot machine's standard layout features a screen displaying three or more reels that "spin" when the game is activated. Some modern slot machines still include a lever as a skeuomorphic design trait to trigger play. However, the mechanics of early machines have been superseded by random number generators, and most are now operated using buttons and touchscreens. Slot machines include one or more currency detectors that validate the form of payment, whether coin, cash, voucher, or token. The machine pays out according to the pattern of symbols displ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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