|
Vigorish
Vigorish (also called the cut, the house edge, juice, the margin, the take, under-juice, or the vig) is the fee charged by a bookmaker 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 () which was itself a loanword from Russian (). 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 event. This is accomplished by incentivizing their clientele to wager offsetting amounts on all potential outcomes of the event. The normal method by which this is achieved is by adjusting the odds, payouts for each outcome (collectively called the Spread betting, line) as imbalances of total amounts wagered between them occur. Wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Advantage
A casino game is one in which players gambling, gamble cash or casino token, chips on various possible random outcomes or combinations of outcomes, often in a casino environment. Such games are also available in online casinos, where permitted by law. Casino games can also be played outside of casinos for entertainment purposes, like in parties or in school competitions, 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. 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 on the selection of random numbers, either from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Craps
Craps is a dice game in which players gambling, 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 glossary of craps terms, slang terminology to place bets and actions. History Craps developed in the United States from a simplification of the western European game of Hazard (game), Hazard, also spelled Hazzard or Hasard. The origins of Hazard are obscure and may date to the Crusades; a detailed description of Hazard was provided by Edmond Hoyle in ''Hoyle's Games, Improved'' (1790). At approximately the same time (1788), "Krabs" was documented as a French variation on Hazard. In aristocratic London, crabs was the epithet for the sum combinations of two and three for two rolled dice, which in Hazard are instant-losing numbers for the first dice rol ... [...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] |
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 was a major growth market in the UK, 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 sports, almost every contest has a ''favorite'' and an ''unde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Overround
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] |
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] |
Nevada
Nevada ( ; ) is a landlocked state in the Western United States. It borders Oregon to the northwest, Idaho to the northeast, California to the west, Arizona to the southeast, and Utah to the east. Nevada is the seventh-most extensive, the 32nd-most populous, and the ninth-least densely populated U.S. state. Nearly three-quarters of Nevada's population 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); due to the presidency of Abraham Lincoln, the Union benefited immensely from the support of newly awarded statehood by the infusion of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Backgammon
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 at least 1,600 years. The earliest record of backgammon itself dates to 17th-century England, being descended from the 16th-century Irish (game), 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 piece (tables game), pieces known traditionally as men (short for "tablemen"), but increasingly known as "checkers" in the United States in recent decades. The backgammon table pieces move along twenty-four "point (tables game), 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 ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mississippi
Mississippi ( ) is a U.S. state, state in the Southeastern United States, Southeastern and Deep South regions of the United States. It borders Tennessee to the north, Alabama to the east, the Gulf of Mexico to the south, Louisiana to the southwest, and Arkansas to the northwest. Mississippi's western boundary is largely defined by the Mississippi River, or its historical course. Mississippi is the List of U.S. states and territories by area, 32nd largest by area and List of U.S. states by population, 35th-most populous of the 50 U.S. states and has the lowest per-capita income. Jackson, Mississippi, Jackson is both the state's List of capitals in the United States, capital and largest city. Jackson metropolitan area, Mississippi, Greater Jackson is the state's most populous Metropolitan statistical area, metropolitan area, with a population of 591,978 2020 United States census, in 2020. Other major cities include Gulfport, Mississippi, Gulfport, Southaven, Mississippi, South ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Slot Machines
A slot machine, fruit machine (British English), poker machine or pokie (Australian English and New Zealand English) is a gambling machine that creates a game of chance for its customers. 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 skeuomorph A skeuomorph (also spelled skiamorph, ) is a derivative object that retains ornamental design cues (attributes) from structures that were necessary in the original. Skeuomorphs are typically used to make something new feel familiar in an effort t ...ic design trait to trigger play. However, the mechanical operations of early machines have been superseded by Random number generation, 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, banknote, voucher, or token coin, token. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roulette
Roulette (named after the French language, French word meaning "little wheel") is a casino game which was likely developed from the Italy, 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 number is high or low. 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 the 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 18th-century France. Many historians believe Blaise Pascal introduced a primitive form of roulette in the 17th century in his search for a perpetual motion machine. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
