Example of drawing outs
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The unseen cards principle states that to calculate the probability (from the point of view of a player about to act) that the next card dealt will be among a certain set, he must divide the number of cards in … Read More

Promotion
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Cheerleaders at a pep rally Promotion is one of the four aspects of marketing. The other three parts of the marketing mix are product management, pricing, and distribution. Promotion involves disseminating information about a product, product line, brand, or company. … Read More

Example of hand in badugi poker
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The blinds for this example hand Here is a sample deal involving our four players. The players’ individual hands will not be revealed until the showdown, to give a better sense of what happens during play: Compulsory bets: Alice is … Read More

Gambler’s fallacy example: coin-tossing
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The gambler’s fallacy can be illustrated by considering the repeated toss of a coin. With a fair coin the chances of getting heads are exactly 0.5 (one in two). The chances of it coming up heads twice in a row … Read More

Bridge play techniques
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Terence Reese, a prolific author of bridge books, points out that there are only four ways of taking a trick by force, and two of these are very easy: playing a high card that no one else can beat trumping … 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

Drawing hand
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 In poker, a drawing hand is a hand that is not yet “complete”; that is, one which does not yet rank highly, but which may later, depending on what cards a player receives. This contrasts with a made hand – a hand which is … Read More

Dominating hand
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In poker, a dominating hand is one with an overwhelming statistical advantage over another specific hand. For example, in Seven-card stud, while a Starting hand of K♠ K♥ Q♦ has the lead over A♦ K♦ 10♥, the latter has many … Read More

Parimutuel betting
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(from the French language: pari mutuel, mutual betting) is a betting system in which all bets of a particular type are placed together in a pool; taxes and a house take are removed, and payoff odds are calculated by sharing … Read More