Unusual bets
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These days one can bet on almost anything: from whether it will snow on Christmas day, to which volcano will erupt next, to outcomes in worldwide presidential elections. While these may seem rather random and whilst you may be wondering … Read More

Optimal Betting / Bad Bets in Craps
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One subtlety of craps is that there is a huge variety in the house advantage on the many bets available on the craps layout. Of course the house is guaranteed to win in the long run, but by poor selection … Read More

Craps odds
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The rules vary slightly from one casino to another, but the expected value of several bets is only slightly negative (the most favorable bets with the most favorable rules offer a house advantage of as little as 0.18%). All bets … Read More

Sportsbook
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Sportsbook at Wynn Las Vegas, during Super Bowl XLII, February 2008 A sportsbook (sometimes abbreviated as book) or a race and sports book is a place where a gambler can wager on various sports competitions, including football, basketball, baseball, hockey, … Read More

Place, buy and lay bets in craps
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Standard layout for craps (without Big 6/8) Players can place or buy individual numbers (4, 5, 6, 8, 9, 10) by placing their wager in the come area and telling the dealer, “place the 6” or “buy the 8”. Both … Read More

Proposition bets in craps
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Note: Individual casinos may pay some of these bets at different odds than those listed below. The payoff odds listed are the most common throughout North American casinos. Actual odds, of course, do not vary. Proposition bets are generally located … Read More

Types of craps bets
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The fundamental bet in craps is the pass line bet, in which one bets that the dice will pass (that is, roll the point number before rolling a 7). A pass line bet is also won if the come-out roll … Read More

Nassau bet
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The Nassau bet is a type of bet in golf that is essentially three separate bets. Money is wagered on the best score in the front 9, back 9, and total 18 holes. The Nassau is one of golf’s most … Read More

Cho-han bakuchi
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Cho-Han Bakuchi (or Cho Ka Han Ka, or simply Cho-Han) is a traditional Japanese gambling game using dice.The game uses two standard six-sided dice, which are shaken in a bamboo cup or bowl by a dealer. The cup is then … Read More

Kelly gambling
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Kelly gambling is an application of information theory to gambling and (with some ethical and legal reservations) investing. An important but simple relation exists between the amount of side information a gambler obtains and the expected exponential growth of his … Read More

Croupier
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A croupier (in European usage) or dealer (in American usage) is a person who takes and pays out bets or otherwise assists at a gambling table, often in a casino. In American usage, dealer may imply a card game, but … Read More

Dutch book
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In gambling a Dutch book or lock is a set of odds and bets which guarantees a profit, no matter what the outcome of the gamble. It is associated with probabilities implied by the odds not being coherent.In economics a … Read More

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