TRADITIONAL PARI-MUTUEL PAYOUT CALCULATIONS: The total Place Wagers Pool is split in half so 50% of the net losing wagers factor into payout calculations for those that wagered on the 1st place finisher, and 50% of the net losing wagers factor into payout calculations for those that wagered on the 2nd place finisher.
In parimutuel markets, a winning bet pays off a proportional share of the total money bet on all outcomes, so that the odds offered to a bet are determined only after all the bets are placed. In fixed-odds markets instead, bookmakers compete to set odds at which they accept bets from the public.
Setting Up Parimutuel Betting:
A (+) indicates the team is an underdog and the (-) indicates they are a favorite. Example #1: The Texans are +370 to win while the Chiefs are -500. This means If you think the Texans beat the Chiefs, a $100 wager would profit $370. On the other hand, in order to profit $100 on the Chiefs winning you have to risk $500.
underdog Higher numbers like +400, +500, +5000, etc. represent how much of an underdog the team is in the game. The higher the number the more likely the team is expected to lose in the eyes of the oddsmakers. The number also indicates how much money would win in comparison to every $100 you wager.
If you place a $2 exacta key bet, then you will pick one horse to win in each race, and all the others must place. This will cost you $12. If you decide to go with two horses over four horses in an exacta key bet, then you'll still have to pay $12, with an increment of $2 thereafter.
Meanwhile, betting with a +0.75 handicap means your team must win or end in a draw for your bet to be a success. If they lose by even just one goal then half of your stake is returned and the other half is a loss. If your team loses by two or more goals then you lose your stake.
21 + 3 is a fun, exciting variation of the standard casino game of blackjack. After making a wager on the blackjack hand, you may make a side wager that is based on a 3 card poker hand. The side wager is a bet that your original two cards combined with the dealer's up card will combine for a winning poker hand.
777 is used on most slot machines in the United States to identify a jackpot. As it is considered a lucky number, banknotes with a serial number containing 777 tend to be valued by collectors and numismatists. The US Mint and the Bureau of Engraving and Printing sells uncirculated 777 $1 bills for this reason.
Most experts think that the reason why the number seven is seen as being “lucky” is simply because of its many positive associations. Obviously, there's no concrete proof that the number wields any real influence when it comes to scoring big at the casino or regarding anything else in life, for that matter.
By betting on the spread, you wager on whether you think that Team 1 will win by more than 8.5 points (so 9 points or more). Conversely, if you wanted to bet on Team 2 +8.5, you are wagering that Team 2 will either win or only lose by fewer than 8.5 points (so 8 points or fewer).
Higher numbers like +400, +500, +5000, etc. represent how much of an underdog the team is in the game. The higher the number the more likely the team is expected to lose in the eyes of the oddsmakers. The number also indicates how much money would win in comparison to every $100 you wager.
quaddie (plural quaddies) (Australia, gambling, horse racing, colloquial) A quadrella, a type of bet requiring the bettor to pick the winners of four nominated races at the same track; a bet requiring the selection of four winners of specified matches in a given round of a sporting competition.
What Does a Spread of +2.5 Mean? A +2.5 spread means the underdog will need to win outright or lose by 1 or 2 points to cover. Similar to what we explained in the previous section, a spread of +2.5 in football and basketball indicates a matchup of two fairly evenly matched squads. Example: Milwaukee Bucks +2.5.
11-4 Betting Odds means that out of 15 possible outcomes, the 11/4 odds are that there will be 11 of one kind of outcome and 4 of another kind of outcome. The 11-4 odds calculation means for every 15 betting events your selection should win 4 times and on 11 occasions the selection will not win.
What is a system 3/4 (4 bets)? A 3/4 system consists of 4 bets which transpire from 4 picks -- four 3-pick multis (parlays). At least three of the four picks must be correct to gain some winnings - the exact amount of the winnings depends on how many of the predictions prove correct.
Positive moneyline: +145, +220, or anything similar represent how much of an underdog the team is in the game. The higher the number the more likely the team is expected to lose in the eyes of the oddsmakers. The number also indicates how much money would win in comparison to every $100 you wager.
A high roller, also referred to as a whale or cheetah, is a gambler who consistently wagers large amounts of money. High rollers often receive lavish "comps" from casinos to lure them onto the gambling floors, such as free private jet transfers, limousine use and use of the casinos' best suites.
3 Profitable Horse Racing Betting Strategies
A Yankee consists of 11 bets of equal value on selections in four separate events: six doubles, four trebles and one four-fold. We explain how a Yankee works as well as the benefits and drawbacks of this type of bet. In a Yankee at least two of the selections must be successful to guarantee a return.
1X2 bets are hugely popular and a simple way of betting on sports where there is the possibility of a draw. The 1 refers to a home win, the X the draw and the 2 the away win. Unlike Asian handicaps or totals, 1X2 betting doesn't seek to even out any difference in perceived quality between the teams or players.
Odds expressed in terms of money, with $100 being the standard. If the odds are minus (–), then that amount of money must be wagered to win $100. (e.g. –150 means you must bet $150 to win $100.) If the odds are plus (+), that amount of money would be earned on a successful $100 wager.
An 'Octopus' involves a player who scores a touchdown and immediately scores a two-point conversion, therefore, accumulating 8 points. This Yes or No bet depends on any player achieving such a feat. Passing touchdowns are credited to the Receiver, not the Passer, according to Bovada.
When you place a “system 4/5”, you are placing five multiple bets of four predictions (every combination of four matches out of five). This means that if you have five correct predictions, your five bets are winners and when you have four correct predictions, only one accumulator bet is a winner.
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William Lee Bergstrom (1951 – February 4, 1985) commonly known as The Suitcase Man or Phantom Gambler, was a gambler and high roller known for placing the largest bet in casino gambling history at the time amounting to $777,000 ($2.56 million present day amount) at the Horseshoe Casino, which he won.
Six tips for becoming a sharper sports bettor
So, how do side bets work in blackjack? You will be adding additional chips to make a side bet before the cards are dealt, and wagering on making a winning hand from your first two cards or a combination of yours and the dealer's face-up card. The most common side bets are 21 + 3 or Blackjack Perfect Pairs.
4-9 Betting Odds means that out of 13 possible outcomes, the 4/9 odds are that there will be 4 of one kind of outcome and 9 of another kind of outcome. The 4-9 odds calculation means for every 13 betting events your selection should win 9 times and on 4 occasions the selection will not win.
Different people have different ideas on what makes a person successful in a casino; some believe that skills are necessary, while others believe that luck is the key. Many players find it occasionally unnecessary and difficult to grasp the idea of both skill and luck. Actually, it combines the two.
Key Takeaways. Gambling is not a good alternative for earning extra cash. Each game you play at a casino has a statistical probability against you winning. Slot machine odds are some of the worst, ranging from a one-in-5,000 to one-in-about-34-million chance of winning the top prize when using the maximum coin play.
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His winning streak continued, and he eventually became the world's top race bettor. In 1994, he won a $7.5 million jackpot in Keno. Besides being the richest gambler in the world, Bill Benter is also a philanthropist. He has given out large amounts of money to political groups and charities.
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