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2. Sports betting - Wikipedia

   en.wikipedia.org/wiki/Sports_betting

   Sports betting is the activity of predicting sports results and placing a wager on the outcome. Sports bettors place their wagers either legally, through a bookmaker/sportsbook, or illegally through privately run enterprises referred to as "bookies". The term "book" is a reference to the books used by wage brokers to track wagers, payouts, and ...

3. Fantasy sport - Wikipedia

   en.wikipedia.org/wiki/Fantasy_sport

   Fantasy sports are generally considered to be a form of gambling, though they are far less strictly regulated than other forms of sports betting. [75] Unlike traditional sports betting, fantasy sports are generally viewed as "games of skill," rather than "games of chance," thus exempting them from gambling bans and regulations in many ...

4. 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.

5. Online gambling - Wikipedia

   en.wikipedia.org/wiki/Online_gambling

   Sports betting is the activity of predicting sports results and placing a wager on the outcome. Usually, the wager is in the form of money. Many online sports betting websites offer in-play gambling, which is a feature that allows the user to bet while the event is in progress. A benefit of live in-play gambling is that there are much more markets.

6. 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.

7. Odds - Wikipedia

   en.wikipedia.org/wiki/Odds

   In order to generate a profit on the wagers accepted, the bookmaker may decide to increase the values to 60%, 50% and 20% for the three horses, respectively. This represents the odds against each, which are 4–6, 1–1 and 4–1, in order. These values now total 130%, meaning that the book has an overround of 30 (130−100). This value of 30 ...

8. Illinois Sports Wagering Act - Wikipedia

   en.wikipedia.org/wiki/Illinois_Sports_Wagering_Act

   The Act allows for a 15% gross revenue tax on all licensed sports betting operations in the state. [13] The Act also included a provision to increase the amount of diversity in the space by requiring that licensees "collaboratively work with companies that serve Illinois residents to improve their supplier diversity in a non-antagonistic manner."

9. Mathematics of bookmaking - Wikipedia

   en.wikipedia.org/wiki/Mathematics_of_bookmaking

   In gambling parlance, making a book is the practice of laying bets on the various possible outcomes of a single event. The phrase originates from the practice of recording such wagers in a hard-bound ledger (the 'book') and gives the English language the term bookmaker for the person laying the bets and thus 'making the book'.