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Basketball
Tuesday, February 3rd, 2009
Sara Giauro shoots a three-point shot, FIBA Europe Cup for Women Finals 2005. Basketball is a sport in which two teams of five players each try to score points on one other by throwing a ball through a hoop (the basket) under organized rules. Since its invention in 1891, it has developed to become a [...]
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Risk premium
Monday, February 2nd, 2009
A risk premium is the minimum difference between the expected value of an uncertain bet that a person is willing to take and the certain value that he is indifferent to. Example Suppose a game show participant may choose one of two doors, one that hides $1,000 and one that hides $0. Further suppose that [...]
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Jai alai
Saturday, January 24th, 2009
Jai-Alai (pronounced hi-lie in English and hi-ah-lie in Basque) means “Merry Festival” in the Basque language. The term is used to denote a fronton (or open-walled arena) used to play a variety of Pelota called Cesta Punta, and, more broadly, to the game itself. The game is characterized by the fast pace of play, in [...]
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Baseball
Friday, January 23rd, 2009
A view of the playing field at Wrigley Field, Chicago, Illinois Baseball is a team sport popular in North America, Latin America, the Caribbean and East Asia. The modern game was developed in the United States from early bat-and-ball games played in Britain, and it has become the national sport of the United States. It [...]
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Tic-tac
Thursday, January 22nd, 2009
Tic-tac (also tick-tack and non-hyphenated variants) is a traditional method of sign language used by bookmakers to communicate the odds of certain horses. It is still used in on-course betting in the UK. A tic-tac man will usually wear bright white gloves to allow their hand movements to be easily seen.A few simple examples of [...]
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Bar bet
Tuesday, January 20th, 2009
A bar bet is a bet made between two patrons at a bar. Bar bets can range from wagers about little-known trivia, such as obscure historical facts, to feats of skill and strength. Some bar bets are intended to trick the other party into losing. Famous bar bets The annual Midnight Sun baseball game played [...]
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Parimutuel betting
Thursday, October 30th, 2008
Parimutuel betting (from the French language: pari mutuel, mutual betting) is a betting system in which all bets of a particular type are placed together in a pool; taxes and a house take are removed, and payoff odds are calculated by sharing the pool among all placed bets.The parimutuel system is used in gambling on [...]
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Betting exchanges
Wednesday, September 24th, 2008
A betting exchange is a p2p gambling website acting as a broker between parties for the placement of bets. The concept is similar to that of a stock exchange or a futures exchange, where in this case the commodity being traded is a bet, rather than a stock or futures contract. Most betting on a [...]