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Starting Price
In horse racing and greyhound racing, the starting price (SP) is the odds prevailing on a particular entry in the on-course fixed-odds betting market at the time a race begins. The method by which SPs are set for each runner varies in different countries but is generally by consensus of an appointed panel on the basis of their observations of the fluctuation in prices at the racetrack. For British horseraces governed by the Starting Price Regulatory Commission (SPRC), the starting price is determined as follows: The selection of the sample is performed so that the sample size is an even number "wherever practically possible", since otherwise it would not be possible to divide the list into two equal halves. Only bookmakers that generate prices independently are considered, and those within the same ownership group are treated as a single sample. This method is very similar to the calculation of the median of the sampled prices, and the result is referred to as the median by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Horse Racing
Horse racing is an equestrian performance activity, 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greyhound Racing
Greyhound racing is an organized, competitive sport in which greyhounds are raced around an oval track. The sport originates from Hare coursing, coursing. 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 Racing, finish line. As with horse racing, greyhound races often allow the public to Gambling, bet on the outcome. Animal rights and animal welfare groups have been critical of the animal welfare, welfare of greyhounds in the commercial racing industry for many years which has contributed to the reforms of the industries in recent times. A greyhound adoption movement spearheaded by kennel owners has arisen to assist retired racing dogs in finding homes as pets, with an estimated adoption rate of over 95% in the United States. In the UK, under the Greyhound Board of Great Britain retirement scheme (introduced in 2020) greyhounds are ensured an approved GRS (greyhound retirement scheme) h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Odds
In probability theory, odds provide a measure of the probability of a particular outcome. Odds are commonly used in gambling and statistics. For example for an event that is 40% probable, one could say that the odds are or When gambling, odds are often given as the ratio of the possible net profit ''to'' the possible net loss. However in many situations, you pay the possible loss ("stake" or "wager") up front and, if you win, you are paid the net win plus you also get your stake returned. So wagering 2 at , pays out , which is called When Moneyline odds are quoted as a positive number , it means that a wager pays When Moneyline odds are quoted as a negative number , it means that a wager pays Odds have a simple relationship with probability. When probability is expressed as a number between 0 and 1, the relationships between probability and odds are as follows. Note that if probability is to be expressed as a percentage these probability values should be multiplied ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed-odds Betting
Fixed-odds betting is a form of gambling where individuals place bets on the outcome of an event, such as sports matches or horse races, at predetermined odds. In fixed-odds betting, the odds are fixed and determined at the time of placing the bet. These odds reflect the likelihood of a particular outcome occurring. If the bettor's prediction is correct, they receive a payout based on the fixed odds. This means that the potential winnings are known at the time of placing the bet, regardless of any changes in the odds leading up to the event. Fixed-odds gambling involves placing bets on events with predetermined odds. Bookmakers aim to create an overground, where the sum of probabilities quoted for all possible outcomes exceeds 100%, ensuring profit. Imbalanced books can occur, leading to higher or lower payouts than expected. The advent of the internet and betting exchanges has led to opportunities for fixed-odds arbitrage actions and Dutch books. When a bet has a positive expec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consensus Decision-making
Consensus decision-making is a group decision-making process in which participants work together to develop proposals for actions that achieve a broad acceptance. #Origin and meaning of term, Consensus is reached when everyone in the group ''assents'' to a decision (or almost everyone; see ''stand aside'') even if some do not fully agree to or support all aspects of it. It differs from simple unanimity, which requires all participants to support a decision. Consensus decision-making in a democracy is consensus democracy. Origin and meaning of term The word ''consensus'' is Latin meaning "agreement, accord", derived from ''consentire'' meaning "feel together". A noun, ''consensus'' can represent a generally accepted opinion – "general agreement or concord; harmony", "a majority of opinion" – or the outcome of a consensus decision-making process. This article refers to the process ''and'' the outcome (e.g. "to decide ''by'' consensus" and "''a'' consensus was reache ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Median
The median of a set of numbers is the value separating the higher half from the lower half of a Sample (statistics), data sample, a statistical population, population, or a probability distribution. For a data set, it may be thought of as the “middle" value. The basic feature of the median in describing data compared to the Arithmetic mean, mean (often simply described as the "average") is that it is not Skewness, skewed by a small proportion of extremely large or small values, and therefore provides a better representation of the center. Median income, for example, may be a better way to describe the center of the income distribution because increases in the largest incomes alone have no effect on the median. For this reason, the median is of central importance in robust statistics. Median is a 2-quantile; it is the value that partitions a set into two equal parts. Finite set of numbers The median of a finite list of numbers is the "middle" number, when those numbers are liste ... [...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 out bets on sporting and other events at agreed-upon odds In probability theory, odds provide a measure of the probability of a particular outcome. Odds are commonly used in gambling and statistics. For example for an event that is 40% probable, one could say that the odds are or When gambling, o .... History The first bookmaker, Harry Ogden, stood at Newmarket in 1795, although similar activities had existed in other forms earlier in the eighteenth century. Following the Gaming Act 1845, the only gambling allowed in the United Kingdom was at race tracks. The introduction of special excursion trains meant that all classes of society could attend the new racecourses opening across the country. Runners working for bookmakers would collect bets in Clock bag, clock bags. Cash flowed to the bookmakers who employed bodyguards against protection gangs operating within the vast cro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ante-post
In horse racing and greyhound racing, an ante-post bet is a bet placed before the horse/greyhound racing course's betting market has opened, and is made on the expectation that the price of the horse/greyhound is presently more favorable than it will be when the course's market opens. Generally, this includes any bet placed before the day of the race. Ante-post betting, unlike starting price In horse racing and greyhound racing, the starting price (SP) is the odds prevailing on a particular entry in the on-course fixed-odds betting market at the time a race begins. The method by which SPs are set for each runner varies in different ... betting, carries the additional risk that the original bet will be forfeited, rather than returned, if the wagered horse fails to run.Hammond (1992), p. 19. The ''ante'' in ante-post is derived from the Latin ''ante'' (meaning "before"), but the ''post'' is not the Latin ''post'' (meaning "after"). Instead, it is derived from the nineteenth centu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Horse Racing Terminology
The horse (''Equus ferus caballus'') is a domesticated, one-toed, hoofed mammal. It belongs to the taxonomic family Equidae and is one of two extant subspecies of ''Equus ferus''. The horse has evolved over the past 45 to 55 million years from a small multi-toed creature, '' Eohippus'', into the large, single-toed animal of today. Humans began domesticating horses around 4000 BCE in Central Asia, and their domestication is believed to have been widespread by 3000 BCE. Horses in the subspecies ''caballus'' are domesticated, although some domesticated populations live in the wild as feral horses. These feral populations are not true wild horses, which are horses that have never been domesticated. There is an extensive, specialized vocabulary used to describe equine-related concepts, covering everything from anatomy to life stages, size, colors, markings, breeds, locomotion, and behavior. Horses are adapted to run, allowing them to quickly escape predators, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wagering
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 univer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
