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Fixed Odds Betting Terminals
Saturday, January 31st, 2009
HTML clipboardFixed Odds Betting Terminals (FOBTs) are computerised machines normally found in betting shops which allow players to bet on the outcome of various games and events with Fixed Odds. They were introduced to UK shops in 2002, shortly after the abolition of the Betting Tax in October 2001.The most commonly played game is Roulette. [...]
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Fixed-odds gambling: types of odds offered
Friday, January 16th, 2009
There are three widely-used means of quoting odds: Fractional odds Favoured by bookmakers in the United Kingdom, fractional odds quote the net total that will be paid out to the bettor, should he win, relative to his stake. Odds of 4/1 (read “four-to-one” or “four-to-one against“) would imply that the bettor stands to make a [...]
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SP bookmaking
Wednesday, January 14th, 2009
Starting price or SP bookmaking literally refers to taking bets at fixed odds, i.e. a fixed starting price, as opposed to the totalisator model of betting. This form of gambling was only legal in Australia for bookmakers operating on the course or racetrack, and so a large telephone based SP bookmaking industry started, leading to [...]
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Fixed-odds gambling
Sunday, October 19th, 2008
Fixed-odds gambling is a form of gambling against odds offered by a bookmaker, an individual, or on a bet exchange. Calculating fixed odds It is customary with fixed-odds gambling to know the expected odds at the time of the placement of the wager (the “live price”), however this category also accommodates wagers whose price is [...]