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Michael Shackleford (born May 23, 1965, in Pasadena, California, United States), also known as "The Wizard of Odds" (a title taken from Donald Angelini), [1] is an American mathematician and an actuary. He is best known for his professional analysis of the mathematics of the casino games.
If any of the bets in the parlay lose, the entire parlay loses. If any of the plays in the parlay ties, or "pushes", the parlay reverts to a lower number of wagers with the payout odds reducing accordingly. Parlay bets are high-risk, high-reward; linking the possibilities drastically reduces the chance of the bet paying off overall.
Wizard of Odds may refer to: Michael Shackleford (born 1965), expert on the math behind casino games; Donald Angelini (1926–2000), Chicago gambling mobster;
A parlay is at least two bets, but can be as many as the bookmaker will allow. The possible payout of the parlay is determined by the combined likelihood of all bets placed. A parlay of riskier bets (more underdogs) will pay greater than a parlay of more likely bets (more favorites). In a parlay, all bets need to win in order for the parlay to win.
A progressive parlay is a joint wager on multiple events, for example team sports or horse races. Generally a progressive parlay involves a joint wager on four to twelve separate events. [ 1 ] Should all the selected bets win, the bettor receives a relatively large payout, because of the sizable odds against this happening.
Donald Angelini (September 30, 1926 – December 6, 2000) was a mobster nicknamed "The Wizard of Odds" with the Chicago Outfit, a criminal organization that specialized in gambling operations. Career [ edit ]
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The Wizard of Odds is an American television game show hosted by Alex Trebek that aired on NBC from July 17,1973, to June 28, 1974, in which people from the studio audience vied in a number of rounds, primarily games revolving around statistical questions. [2]