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2. Sports betting - Wikipedia

   en.wikipedia.org/wiki/Sports_betting

   The "edit bet" feature can be used by gamblers to "unsettle straight accumulators" before matches have started or whilst they are in-play. The feature can also be used for to swap single bets for new bets, and the gambler is given a new bet selection valued at the bookie's cash out price to reflect live market/game odds for the original bet. [5]

3. Martingale (betting system) - Wikipedia

   en.wikipedia.org/wiki/Martingale_(betting_system)

   Even if the gambler can tolerate betting ~1,000 times their original bet, a streak of 10 losses in a row has an ~11% chance of occurring in a string of 200 plays. Such a loss streak would likely wipe out the bettor, as 10 consecutive losses using the martingale strategy means a loss of 1,023x the original bet.

4. NFL betting: Bettor cashes out, turns free $25 bet into $133K ...

   www.aol.com/sports/nfl-betting-bettor-cashes...

   The 16-team parlay was actually made using a free $25 promotional bet. Ordinarily, BetMGM does not provide a cash-out option for free bets. This time, though, the company made an exception “due ...

5. Mathematics of bookmaking - Wikipedia

   en.wikipedia.org/wiki/Mathematics_of_bookmaking

   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. The equivalent decimal odds are 2.5; £40 × 2.5 = £100. We can convert fractional to decimal odds by the formula D = (b + a) ⁄ b.

6. 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 ...

7. March Madness betting: Bettor cashes out early, misses out on ...

   www.aol.com/sports/march-madness-betting-bettor...

   The 13-leg parlay would have net the bettor $1,092,551. However, after 11 legs hit on the parlay, the bettor decided to cash out for $341,088 rather than risk it on the final two legs of their bet ...

8. Parimutuel betting - Wikipedia

   en.wikipedia.org/wiki/Parimutuel_betting

   Parimutuel betting or pool betting is a betting system in which all bets of a particular type are placed together in a pool; taxes and the "house-take" or "vigorish" are deducted, and payoff odds are calculated by sharing the pool among all winning bets.

9. Toto (lottery) - Wikipedia

   en.wikipedia.org/wiki/Toto_(lottery)

   The computer randomly selects 6 numbers from 1 to 49 for the buyer. No bet slip is required for QuickPick bets. Ordinary Bet The buyer selects 6 numbers from 1 to 49 by marking them on a bet slip. System Bet The buyer selects 7 to 12 numbers from 1 to 49 by marking on a bet slip. For example, a System 9 bet is a selection of 9 numbers. System Roll