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Example of the optimal Kelly betting fraction, versus expected return of other fractional bets. In probability theory, the Kelly criterion (or Kelly strategy or Kelly bet) is a formula for sizing a sequence of bets by maximizing the long-term expected value of the logarithm of wealth, which is equivalent to maximizing the long-term expected geometric growth rate.
Trifecta. A trifecta is a parimutuel bet placed on a horse race in which the bettor must predict which horses will finish first, second, and third, in the exact order. [1] Known as a trifecta in the US and Australia, [2] this is known as a tricast in the UK, [3] a tierce in Hong Kong, [4] a triactor in Canada [5] and a tiercé in France. [6]
A daily double is a parimutuel wager offered by horse racing and greyhound racing tracks in North America. Bettors wager on the winners of two consecutive races, [1] pre-designated by the track for a particular race day. The wager is made before either of the two races is run, and is only successful if both of the selections are correct.
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.
Kentucky Derby bets are high risk, high reward. But what the heck is an exacta, a trifecta box and other bets at Churchill Downs?
A bet to win, sometimes called a "straight" bet, means staking money on the horse, and if it comes in first place, the bet is a winner. In a bet to place, you are betting on your horse to finish either first or second. A bet to show wins if the horse finishes first, second or third. Since it is much easier to select a horse to finish first ...
The superfecta is a type of wager in the United States and Canada parimutuel betting in which the bettor, in order to win, must pick the first four finishers of a race in the correct sequence. This is even more unlikely than a successful wager in the trifecta , which requires correctly picking the first three finishers in order, and as such ...
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