Casino games
While almost any game can be played for money, and any game
typically played for money can also be played just for fun, some games
are generally offered in a casino setting.
Table games
Electronic gaming
Other gambling
Non-casino gambling games
Gambling games that take place outside of casinos include Bingo (as played in the US and UK), dead pool, lotteries, pull-tab games and scratchcards, and Mahjong.
Other non-casino gambling games include:
- Card games, such as Liar's poker, Bridge, Basset, Lansquenet, Piquet, Put, Teen patti
- Carnival Games such as The Razzle or Hanky Pank
- Coin-tossing games such as Head and Tail, Two-up*
- Confidence tricks such as Three-card Monte or the Shell game
- Dice-based games, such as Backgammon, Liar's dice, Passe-dix, Hazard, Threes, Pig, or Mexico
*Although coin tossing isn't usually played in a casino, it has been
known to be an official gambling game in some Australian casinos[7]
Fixed-odds gambling
Fixed-odds gambling and Parimutuel betting frequently occur at many types of sporting events, and political elections. In addition many bookmakers offer fixed odds on a number of non-sports related outcomes, for example the direction and extent of movement of various financial indices, the winner of television competitions such as Big Brother, and election results.[8] Interactive prediction markets also offer trading on these outcomes, with "shares" of results trading on an open market.
Parimutuel betting
One of the most widespread forms of gambling involves betting on horse or greyhound racing. Wagering may take place through parimutuel pools, or bookmakers
may take bets personally. Parimutuel wagers pay off at prices
determined by support in the wagering pools, while bookmakers pay off
either at the odds offered at the time of accepting the bet; or at the
median odds offered by track bookmakers at the time the race started.
Sports betting
Main article: sports betting Betting on team sports has become an important service industry in many countries. For example, millions of Britons play the football pools
every week. In addition to organized sports betting, both legal and
illegal, there are many side-betting games played by casual groups of
spectators, such as NCAA Basketball Tournament Bracket Pools, Super Bowl Squares, Fantasy Sports Leagues with monetary entry fees and winnings, and in-person spectator games like Moundball.
Arbitrage betting
Arbitrage betting is a theoretically risk-free betting system in
which every outcome of an event is bet upon so that a known profit will
be made by the bettor upon completion of the event, regardless of the
outcome. Arbitrage betting is a combination of the ancient art of arbitrage
trading and gambling, which has been made possible by the large numbers
of bookmakers in the marketplace, creating occasional opportunities for
arbitrage.
Other types of betting
One can also bet with another person that a statement is true or
false, or that a specified event will happen (a "back bet") or will not
happen (a "lay bet") within a specified time. This occurs in particular
when two people have opposing but strongly-held views on truth or
events. Not only do the parties hope to gain from the bet, they place
the bet also to demonstrate their certainty about the issue. Some means
of determining the issue at stake must exist. Sometimes the amount bet
remains nominal, demonstrating the outcome as one of principle rather
than of financial importance.
Many betting systems have been created in an attempt to "beat the
bookie" but most still accept that no system can make an unprofitable
bet profitable over time. Widely-used systems include:
- Card counting - Many systems exist for Blackjack
to keep track of the ratio of ten values to all others; when this ratio
is high the player has an advantage and should increase the amount of
their bets. Keeping track of cards dealt confers an advantage in other
games as well.
- Due-column betting
– A variation on fixed profits betting in which the bettor sets a
target profit and then calculates a bet size that will make this
profit, adding any losses to the target.
- Fixed profits – the stakes vary based on the odds to ensure the same profit from each winning selection.
- Fixed stakes – a traditional system of staking the same amount on each selection.
- Kelly – the optimum level to bet to maximize your future median bank level.
- Martingale – A system based on staking enough each time to recover losses from previous bet(s) until one wins.
From Wikipedia, the free encyclopedia
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