Gambling terminology

long-run average value of a random variable

mistaken belief that more frequent chance events will lead to less frequent chance events, or vice versa, to balance out

right|thumb|200px|Bookmakers on a Greyhound racing|greyhound race course, [[Reading, Berkshire]]

alt=|thumb|Croupier in Las Vegas (2011) A croupier or dealer is someone appointed at a gambling table to assist in the conduct of the game, especially in the distribution of bets and payouts. Croupiers are typically employed by casinos.

redeemable virtual item for video game prizes

small discs used in lieu of currency in casinos

minimum amount of money by which the expected return on a risky asset must exceed the known return on a risk-free asset

betting system in which all bets of a particular type are placed together in a pool

thumb|Handicap scoring in bowling: Though the second bowler's scratch score 183 is higher than the first bowler's scratch score 181, the first bowler's higher handicap (58 vs. 53) causes his total 239 to exceed the second bowler's total 236. Handicapping, in sport and games, is the practice of assigning advantage through scoring compensation or other advantage given to different contestants to equalize the chances of winning. The word also applies to the various methods by which the advantage is calculated. In principle, a more experienced participant is disadvantaged, or a less experienced or

betting strategy

term from gambling meaning to go "all in" risking everything for the win

bookmakers' technique to level odds

formal fallacy of concluding, on the basis of an unlikely outcome of a random process, that the process is likely to have occurred many times before

concept of probability theory and gambling

A shill, also called a plant or a stooge, is a person who publicly helps or gives credibility to a person or organization without disclosing that they have a close relationship with said person or organization, or have been paid to do so. Shills can carry out their operations in the areas of media, journalism, marketing, politics, sports, confidence games, cryptocurrency, or other business areas. A shill may also act to discredit opponents or critics of the person or organization in which they have a vested interest.

thumb|Trifecta

form of gambling

gambler who wagers large amounts of money

gambling prize that increases

a gamble to decide whether a loss or debt should be doubled

bets taking advantage of differing odds

form of gambling

type of city or neighborhood