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  2. Spread betting - Wikipedia

    en.wikipedia.org/wiki/Spread_betting

    This gap between the Vegas line, the real line, and differences between other sports books betting lines and spreads is where value can be found. A teaser is a bet that alters the spread in the gambler's favor by a predetermined margin – in American football the teaser margin is often six points. For example, if the line is 3.5 points and ...

  3. Mathematics of bookmaking - Wikipedia

    en.wikipedia.org/wiki/Mathematics_of_bookmaking

    Fractional odds are written a − b (a/b or a to b), meaning a winning bettor will receive their money back plus a units for every b units they bet. Decimal odds are a single value, greater than 1, representing the amount to be paid out for each unit bet. For example, a bet of £40 at 6 − 4 (fractional odds) will pay out £40 + £60 = £100.

  4. Poker probability - Wikipedia

    en.wikipedia.org/wiki/Poker_probability

    The royal flush is a case of the straight flush. It can be formed 4 ways (one for each suit), giving it a probability of 0.000154% and odds of 649,739 : 1. When ace-low straights and ace-low straight flushes are not counted, the probabilities of each are reduced: straights and straight flushes each become 9/10 as common as they otherwise would be.

  5. Odds - Wikipedia

    en.wikipedia.org/wiki/Odds

    In most cases, the favorite will have negative moneyline odds (less payoff for a safer bet) and the underdog will have positive moneyline odds (more payoff for a risky bet). However, if the teams are evenly matched, both teams can have a negative line at the same time (e.g. −110 −110 or −105 −115), due to house take.

  6. Parimutuel betting - Wikipedia

    en.wikipedia.org/wiki/Parimutuel_betting

    Usually the price of an exotic bet is determined by a set multiple of the outcome, for example $60 for a five horse boxed trifecta at one unit ($1) — or $30 at half unit (50c). If the bet is successful, the bettor will get either the full winning amount shown on the board, or half the winning amount.

  7. Vigorish - Wikipedia

    en.wikipedia.org/wiki/Vigorish

    Under proportional vigorish, a "fair odds" betting line of 2.00/2.00 [b] without vigorish would decrease the payouts of all outcomes equally, perhaps to 1.95/1.95, once it was added. More commonly though, disproportional vigorish will be applied as part of the efforts to keep the amounts wagered balanced, such as 1. 90 /2.00, making the outcome ...

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  9. Fixed-odds betting - Wikipedia

    en.wikipedia.org/wiki/Fixed-odds_betting

    In making a bet where the expected value is positive, one is said to be getting "the best of it". For example, if one were to bet $1 at 10 to 1 odds (one could win $10) on the outcome of a coin flip, one would be getting "the best of it" and should always make the bet (assuming a rational and risk-neutral attitude with linear utility curves and have no preferences implying loss aversion or the ...