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A sucker bet is a gambling wager in which the expected return does not reflect the odds of winning, and is significantly lower. For example, the chances of correctly guessing the order of the final three cards in a game of Faro is usually 1 in 6, yet the bet only pays 4:1 or 5:1.
In some cases, the specific sport may not be known; these entries may be followed by the generic term sports, or a slightly more specific term, such as team sports (referring to such games as baseball, football, hockey, etc.), ball sports (baseball, tennis, volleyball, etc.), etc. This list does not include idioms derived exclusively from baseball.
A betting strategy (also known as betting system) is a structured approach to gambling, in the attempt to produce a profit. To be successful, the system must change the house edge into a player advantage — which is impossible for pure games of probability with fixed odds, akin to a perpetual motion machine. [ 1 ]
For example, if you bet over two sports teams that were playing and one lost, a relevant punishment would be to have the loser wear the opposite jersey for a day. Lastly, keep the punishment short ...
For example, in a casino with a three-raise rule, if one player opens the betting for $5, the next raises by $5 making it $10, a third player raises another $5, and a fourth player raises $5 again making the current bet $20, the betting is said to be capped at that point, and no further raises beyond the $20 level will be allowed on that round.
Parlay bets are paid out at odds higher than the typical single game bet, but still below the "true" odds. For instance, a common two-team NFL parlay based entirely on the spread generally has a payout of 2.64:1. In reality, however, if one assumes that each single game bet is 50/50, the true payout should instead be 3:1.
If the "dared" person accepts the bet, they will collect if they succeed or pay if they fail. For an example detailed in the book The Professor, the Banker, and the Suicide King, David Grey once bet Howard Lederer, a professional poker player who became vegetarian following gastric bypass surgery, $10,000 for Lederer to eat an offered ...
Nowhere near ‘sucker’s bet’ territory Siegel noted Wednesday that the S&P 500 traded at over 30 times earnings in March of 2000, and large-cap tech stocks were selling at double those levels.