Games available in most casinos are commonly called casino games. In a casino game, the players gamble cash or casino chips on various possible random outcomes or combinations of outcomes. Casino games are also available in online casinos, where permitted by law. Casino games can also be played outside of casinos for entertainment purposes, like in parties or in school competitions, on machines that simulate gambling.
Gambling is the wagering of something of value on a random event with the intent of winning something else of value, where instances of strategy are discounted. Gambling thus requires three elements to be present: consideration, risk (chance), and a prize. The outcome of the wager is often immediate, such as a single roll of dice, a spin of a roulette wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season.
The gambler's fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the incorrect belief that, if a particular event occurs more frequently than normal during the past, it is less likely to happen in the future, when it has otherwise been established that the probability of such events does not depend on what has happened in the past. Such events, having the quality of historical independence, are referred to as statistically independent. The fallacy is commonly associated with gambling, where it may be believed, for example, that the next dice roll is more than usually likely to be six because there have recently been fewer than the expected number of sixes.
Roulette is a casino game which was likely developed from the Italian game Biribi. In the game, a player may choose to place a bet on a single number, various groupings of numbers, the color red or black, whether the number is odd or even, or if the numbers are high (19–36) or low (1–18).
A slot machine, fruit machine, poker machine or pokies is a gambling machine that creates a game of chance for its customers. Slot machines are also known pejoratively as one-armed bandits, alluding to the large mechanical levers affixed to the sides of early mechanical machines, and to the games' ability to empty players' pockets and wallets as thieves would.
A martingale is a class of betting strategies that originated from and were popular in 18th-century France. The simplest of these strategies was designed for a game in which the gambler wins the stake if a coin comes up heads and loses if it comes up tails. The strategy had the gambler double the bet after every loss, so that the first win would recover all previous losses plus win a profit equal to the original stake. Thus the strategy is an instantiation of the St. Petersburg paradox.
Card counting is a blackjack strategy used to determine whether the player or the dealer has an advantage on the next hand. Card counters are advantage players who try to overcome the casino house edge by keeping a running count of high and low valued cards dealt. They generally bet more when they have an advantage and less when the dealer has an advantage. They also change playing decisions based on the composition of the deck.
In statistics, gambler's ruin is the fact that a gambler playing a game with negative expected value will eventually go broke, regardless of their betting system.
The St. Petersburg paradox or St. Petersburg lottery is a paradox involving the game of flipping a coin where the expected payoff of the theoretical lottery game approaches infinity but nevertheless seems to be worth only a very small amount to the participants. The St. Petersburg paradox is a situation where a naïve decision criterion that takes only the expected value into account predicts a course of action that presumably no actual person would be willing to take. Several resolutions to the paradox have been proposed.
Vigorish is the fee charged by a bookmaker for accepting a gambler's wager. In American English, it can also refer to the interest owed a loanshark in consideration for credit. The term came to English usage via Yiddish slang, which was itself a loanword from Ukrainian or Russian.
A betting strategy is a structured approach to gambling, in the attempt to produce a profit. To be successful, the system must change the house edge into a player advantage — which is impossible for pure games of probability with fixed odds, akin to a perpetual motion machine. Betting systems are often predicated on statistical analysis.
Sic bo (骰寶), also known as tai sai (大細), dai siu (大小), big and small or hi-lo, is an unequal game of chance of ancient Chinese origin played with three dice. Grand hazard and chuck-a-luck are variants, both of English origin. The literal meaning of sic bo is "precious dice", while dai siu and dai sai mean "big [or] small".
A progressive jackpot is a jackpot which increases each time the game is played but the jackpot is not won. When the progressive jackpot is won, the jackpot for the next play is reset to a predetermined value, and resumes increasing under the same rule.
Vegas Stakes, known as Las Vegas Dream in Japan, is a gambling video game developed by HAL Laboratory and published by Nintendo for the Super Nintendo Entertainment System in April 1993 and for the Game Boy in December 1995. The Super NES version supports the Super NES Mouse, while the Game Boy version is compatible with the Super Game Boy, and features borders which use artwork from the SNES version. It is the sequel to the NES game Vegas Dream.
The mathematics of gambling is a collection of probability applications encountered in games of chance and can get included in game theory. From a mathematical point of view, the games of chance are experiments generating various types of aleatory events, and it is possible to calculate by using the properties of probability on a finite space of possibilities.
A pull-tab is a gambling ticket for a pull-tab game. Other names for the game include Break-Opens, Nevada Tickets, Cherry Bells, Lucky 7s, Pickle Cards, Instant Bingo, Bowl Games, or Popp-Opens.
The following is a glossary of poker terms used in the card game of poker. It supplements the glossary of card game terms. Besides the terms listed here, there are thousands of common and uncommon poker slang terms. This is not intended to be a formal dictionary; precise usage details and multiple closely related senses are omitted here in favor of concise treatment of the basics.
'Due-column Betting' is a type of fixed-profit betting strategy whereby a bettor increases the amount he wagers on a single proposition after each successive loss. According to this system, the bettor determines a target profit before he begins betting. Then he increases his bet on propositions following a loss in such a way that a win will recover the sum of all amounts he lost from his preceding bets plus gain him his predetermined profit.
Casino security refers to the measures that are taken at casinos to protect the establishment's money, property and patrons. The security protects the casino and its customers from violent crime, theft, and other inappropriate behavior.
Gambling in the Philippines has been present in the country since at least the sixteenth century. Various legal and illegal forms of gambling are found almost all over the archipelago. The government manages gambling through the Philippine Amusement and Gaming Corporation (PAGCOR) a state-owned enterprise which both operates a number of individual casinos and in turn acts as a regulator to privately owned casino operators. Since 2016 PAGCOR has also granted operating licenses and overseen the regulation of growing online gambling sector serving offshore markets. Casino gambling and integrated resorts have become a key component of the Philippines appeal as a tourist destination with more than twenty casinos found in Metro Manila alone.
