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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'.
Wagers are placed based on possible combinations that can appear on the three dice. The possible wagers are usually fewer than the wagers that are possible in sic bo and, in that sense, chuck-a-luck can be considered to be a simpler game. In the simplest variant, bettors place stakes on a board with six numbered spaces, labelled 1 through 6 ...
A betting pool, syndicate, sports lottery, sweep, or office pool if done at work, is a form of gambling, specifically a variant of parimutuel betting influenced by lotteries, where gamblers pay a fixed price into a pool (from which taxes and a house "take" or "vig" are removed), and then make a selection on an outcome, usually related to sport.
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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 ...
Maximum potential pay-off of the wager is known when the bet is taken and as a corollary risk is known beforehand by being limited to the initial stake. Financial betting instruments are a type of digital option. The outcome of the wager at settlement is binary, that is, either a win or a loss.
Because contracts of insurance have many features in common with wagers, insurance contracts are often distinguished in law as agreements in which either party has an interest in the "bet-upon" outcome beyond the specific financial terms; for example, a "bet" with an insurer on whether one's house will burn down is not gambling, but rather ...
The Horseshoe had a unique policy, which set a gambler's maximum bet limit at the first wager placed. Bergstrom bet the entire amount on the don't pass line in craps and, after several rolls, won. The winnings went into the second suitcase. On March 24, 1984, he returned to the Horseshoe and bet $538,000, again in craps and again won.