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Patent, Lucky 15, Lucky 31, Lucky 63 and higher Lucky bets form a family of bets known as full cover bets with singles which have all possible multiples present together with single bets on all selections. An examples of a winning Patent bet has been shown above. The other named bets are calculated in a similar way by looking at all the ...
The casino advantage is the advantage that the casino has over the gamblers for each type of gambling game in the casino. Take the coin toss for example, the chances of heads and tails are equal, 50% each, if a player bets $10 on the coin landing heads up and they win, the casino pays them $10.
This means the bettor must have over 65,500 (2^15-1 for their 15 losses and 2^15 for their 16th streak-ending winning bet) times their original bet size. Thus, a player making 10 unit bets would want to have over 655,000 units in their bankroll (and still have a ~5.5% chance of losing it all during 5,000 plays).
Examples of full cover bets with singles included: Patent - three selections; Lucky 15 - four selections; Lucky 31 - five selections; Lucky 63 - six selections; The Lucky bets are so named because of the bookmaker's practice of offering bonuses for one or more winning selections; most common of which is 'double the odds' for one winner.
If the Jets win by either 2 or 4, the advantage player collects on one winning bet and the other "push." And if the Jets win or lose by any other total, the two bets cancel out, leaving the advantage player to pay only the vigorish on the bets. Given typical 10-cent lines, a middle need only win 1 time in 21 to break even, which is a realistic ...
The development of probability theory in the late 1400s was attributed to gambling; when playing a game with high stakes, players wanted to know what the chance of winning would be. In 1494, Fra Luca Paccioli released his work Summa de arithmetica, geometria, proportioni e proportionalita which was the first written text on probability.