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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". 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 order to take account of the size of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gambling
Gambling (also known as betting or gaming) is the wagering of something of Value (economics), value ("the stakes") on a Event (probability theory), random event with the intent of winning something else of value, where instances of strategy (game theory), 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 ... [...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, tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trinity College, Dublin
Trinity College Dublin (), officially titled The College of the Holy and Undivided Trinity of Queen Elizabeth near Dublin, and legally incorporated as Trinity College, the University of Dublin (TCD), is the sole constituent college of the University of Dublin in the Republic of Ireland. Founded by Queen Elizabeth I in 1592 through a royal charter, it is one of the extant seven " ancient universities" of Great Britain and Ireland. Trinity contributed to Irish literature during the Georgian and Victorian eras, and areas of the natural sciences and medicine. Trinity was established to consolidate the rule of the Tudor monarchy in Ireland, with Provost Adam Loftus christening it after Trinity College, Cambridge. Built on the site of the former Priory of All Hallows demolished by King Henry VIII, it was the Protestant university of the Ascendancy ruling elite for over two centuries, and was therefore associated with social elitism for most of its history. Trinity has three ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Economic Journal
''The Economic Journal'' is a peer-reviewed academic journal of economics published on behalf of the Royal Economic Society by Oxford University Press. The journal was established in 1891 and publishes papers from all areas of economics.The editor-in-chief is Francesco Lippi ( Libera Università Internazionale degli Studi Sociali Guido Carli & Einaudi Institute of Economics and Finance). According to the Journal Citation Reports, the journal has a 2020 impact factor of 3.178. History Introduction The journal was conceived in November 1890, at the inauguration of the British Economic Association (which became the Royal Economic Society in 1902). One of the central aims of the new society was to create a forum through which British economic research could be published. In a circular sent out before the inaugural meeting, Alfred Marshall, one of the founding members of the society, indicated the significant impact a new journal would have on British economic science: ''...the n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Management Science (journal)
''Management Science'' is a peer-reviewed academic journal that covers research on all aspects of management related to strategy, entrepreneurship, innovation, information technology, and organizations as well as all functional areas of business, such as accounting, finance, marketing, and operations. It is published by the Institute for Operations Research and the Management Sciences and was established in 1954 by the institute's precursor, the Institute of Management Sciences. C. West Churchman was the founding editor-in-chief. According to the ''Journal Citation Reports'', the journal has a 2022 impact factor of 5.4. Editors-in-chief The following persons are, or have been, editors-in-chief: *2018–2023: David Simchi-Levi *2014–2018: Teck-Hua Ho *2009–2014: Gérard Cachon *2003–2008: Wallace Hopp *1997–2002: Hau L. Lee *1993–1997: Gabriel R. Bitran *1983–1990: Donald G. Morrison *1968–1983: Martin K. Starr *1960–1967: Robert M. Thrall *1954–1960: C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathematics Magazine
''Mathematics Magazine'' is a refereed bimonthly publication of the Mathematical Association of America. Its intended audience is teachers of collegiate mathematics, especially at the junior/senior level, and their students. It is explicitly a journal of mathematics rather than pedagogy. Rather than articles in the terse "theorem-proof" style of research journals, it seeks articles which provide a context for the mathematics they deliver, with examples, applications, illustrations, and historical background. Paid circulation in 2008 was 9,500 and total circulation was 10,000. ''Mathematics Magazine'' is a continuation of ''Mathematics News Letter'' (1926–1934) and ''National Mathematics Magazine'' (1934–1945). Doris Schattschneider became the first female editor of ''Mathematics Magazine'' in 1981. .. The MAA gives the Carl B. Allendoerfer Awards annually "for articles of expository excellence" published in ''Mathematics Magazine''. See also *''American Mathematical Mon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edward O
Edward is an English male name. It is derived from the Anglo-Saxon name ''Ēadweard'', composed of the elements '' ēad'' "wealth, fortunate; prosperous" and '' weard'' "guardian, protector”. History The name Edward was very popular in Anglo-Saxon England, but the rule of the Norman and Plantagenet dynasties had effectively ended its use amongst the upper classes. The popularity of the name was revived when Henry III named his firstborn son, the future Edward I, as part of his efforts to promote a cult around Edward the Confessor, for whom Henry had a deep admiration. Variant forms The name has been adopted in the Iberian peninsula since the 15th century, due to Edward, King of Portugal, whose mother was English. The Spanish/Portuguese forms of the name are Eduardo and Duarte. Other variant forms include French Édouard, Italian Edoardo and Odoardo, German, Dutch, Czech and Romanian Eduard and Scandinavian Edvard. Short forms include Ed, Eddy, Eddie, Ted, Teddy an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathematical Association Of America
The Mathematical Association of America (MAA) is a professional society that focuses on mathematics accessible at the undergraduate level. Members include university A university () is an educational institution, institution of tertiary education and research which awards academic degrees in several Discipline (academia), academic disciplines. ''University'' is derived from the Latin phrase , which roughly ..., college, and high school teachers; graduate and undergraduate students; pure and applied mathematicians; computer scientists; statisticians; and many others in academia, government, business, and industry. The MAA was founded in 1915 and is headquartered at 11 Dupont in the Dupont Circle, Washington, D.C., Dupont Circle neighborhood of Washington, D.C. The organization publishes mathematics journals and books, including the ''American Mathematical Monthly'' (established in 1894 by Benjamin Finkel), the most widely read mathematics journal in the world according to re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edward W
Edward is an English language, English male name. It is derived from the Old English, Anglo-Saxon name ''Ēadweard'', composed of the elements ''wikt:ead#Old English, ēad'' "wealth, fortunate; prosperous" and ''wikt:weard#Old English, weard'' "guardian, protector”. History The name Edward was very popular in Anglo-Saxon England, but the rule of the House of Normandy, Norman and House of Plantagenet, Plantagenet dynasties had effectively ended its use amongst the upper classes. The popularity of the name was revived when Henry III of England, Henry III named his firstborn son, the future Edward I of England, Edward I, as part of his efforts to promote a cult around Edward the Confessor, for whom Henry had a deep admiration. Variant forms The name has been adopted in the Iberian Peninsula#Modern Iberia, Iberian peninsula since the 15th century, due to Edward, King of Portugal, whose mother was English. The Spanish/Portuguese forms of the name are Eduardo and Duarte (name), Duart ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Mathematics Of Games And Gambling
''The Mathematics of Games and Gambling'' is a book on probability theory and its application to games of chance. It was written by Edward Packel, and published in 1981 by the Mathematical Association of America as volume 28 of their New Mathematical Library series, with a second edition in 2006. Topics The book has seven chapters. Its first gives a survey of the history of gambling games in western culture, including brief biographies of two famous gamblers, Gerolamo Cardano and Fyodor Dostoevsky, and a review of the games of chance found in Dostoevsky's novel '' The Gambler''. The next four chapters introduce the basic concepts of probability theory, including expectation, binomial distributions and compound distributions, and conditional probability, through games including roulette, keno, craps, chuck-a-luck, backgammon, and blackjack. The sixth chapter of the book moves from probability theory to game theory, including material on tic-tac-toe, matrix representations of zer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Phil Bull
Phil Bull (9 April 1910 – 11 June 1989), born West Yorkshire, England, was a professional gambler, racehorse owner and publisher, who founded the Timeform private handicapping system for British horseracing. Since 1948, Timeform have produced performance ratings for every racehorse in Great Britain and, increasingly, internationally. Timeform ratings have become adopted as the British horseracing industry's unofficial, but authoritative, measure of racehorse performance. It was said of Bull in 1976 that "there is no more familiar figure on English racecourses than the stocky, bearded one of Mr Phil Bull". Many racing aphorisms can be attributed to Bull, such as "at the racecourse, keep your eyes open and your ears closed". Early life Phil Bull was born in Hemsworth, West Yorkshire, the son of a miner and a schoolteacher and was educated at the local Grammar School. In 1931 he graduated from Leeds University with a degree in mathematics. This mathematical grounding, as well a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
