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

Kelly Criterion
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The Kelly Criterion or as it is sometimes referred to as the Kelly formula is a formula used to maximize the long-term growth rate of repeated plays of a given gamble that has positive expected value. The formula specifies the … Read More

Compulsive gambling
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Compulsive gambling is an urge or addiction to gamble despite harmful negative consequences or a desire to stop. A preferred term among many professionals is problem gambling, as few people described by the term experience true compulsions in the clinical … Read More

Spread betting
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Spread betting is a form of gambling on the outcome of any event where the more accurate the gamble, the more is won and conversely the less accurate the more is lost. A bet is made against a ‘spread’ (or … Read More

Billions from regulating Internet gambling
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Press Release Regulating Internet Gambling Would Generate Billions in New Revenue for Critical Government Programs Congressman McDermott Urges Congress to Support Internet Gambling Legislation (Washington, D.C. – January 31, 2008) A new tax revenue analysis announced by Representative Jim McDermott … Read More