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Games available in most casinos are commonly called casino games. In a casino game, the players gamble 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 casinos for entertainment purposes like in parties or in school competitions, some on machines that simulate gambling.
In poker, pot odds are the ratio of the current size of the pot to the cost of a contemplated call. Pot odds are often compared to the probability of winning a hand with a future card in order to estimate the call's expected value.
Roulette is a casino game named after the French word meaning little wheel. In the game, players may choose to place bets on either a single number, various groupings of numbers, the colors 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, known variously as a fruit machine, puggy, the slots, poker machine/pokies, fruities or slots, is a gambling machine that creates a game of chance for its customers. Slot machines are also known pejoratively as one-armed bandits because of the large mechanical levers affixed to the sides of early mechanical machines and the games' ability to empty players' pockets and wallets as thieves would.
Yablon, also known as Red Dog or Red Dog poker, is a game of chance played with cards. It is a variation of Acey-Deucey or In-between. While found in some land casinos, its popularity has declined, although it is featured at many casinos online. There are other card-based games of chance called Red Dog, a name originally used for High Card Pool.
In the card game of poker, a bluff is a bet or raise made with a hand which is not thought to be the best hand. To bluff is to make such a bet. The objective of a bluff is to induce a fold by at least one opponent who holds a better hand. The size and frequency of a bluff determines its profitability to the bluffer. By extension, the phrase "calling somebody's bluff" is often used outside the context of poker to describe situations where one person demands that another proves a claim, or proves that they are not being deceptive.
In poker, the probability of each type of 5-card hand can be computed by calculating the proportion of hands of that type among all possible hands.
Odds provide a measure of the likelihood of a particular outcome. They are calculated as the ratio of the number of events that produce the outcome to the number that don't. Odds are commonly used in gambling and statistics.
An odds ratio (OR) is a statistic that quantifies the strength of the association between two events, A and B. The odds ratio is defined as the ratio of the odds of A in the presence of B and the odds of A in the absence of B, or equivalently, the ratio of the odds of B in the presence of A and the odds of B in the absence of A. Two events are independent if and only if the OR equals 1, i.e., the odds of one event are the same in either the presence or absence of the other event. If the OR is greater than 1, then A and B are associated (correlated) in the sense that, compared to the absence of B, the presence of B raises the odds of A, and symmetrically the presence of A raises the odds of B. Conversely, if the OR is less than 1, then A and B are negatively correlated, and the presence of one event reduces the odds of the other event.
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 the original Russian.
In evidence-based medicine, likelihood ratios are used for assessing the value of performing a diagnostic test. They use the sensitivity and specificity of the test to determine whether a test result usefully changes the probability that a condition exists. The first description of the use of likelihood ratios for decision rules was made at a symposium on information theory in 1954. In medicine, likelihood ratios were introduced between 1975 and 1980.
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.
The relative risk (RR) or risk ratio is the ratio of the probability of an outcome in an exposed group to the probability of an outcome in an unexposed group. It is computed as , where is the incidence in the exposed group, and is the incidence in the unexposed group. Together with risk difference and odds ratio, relative risk measures the association between the exposure and the outcome.
The mathematics of gambling are a collection of probability applications encountered in games of chance and can be included in game theory. From a mathematical point of view, the games of chance are experiments generating various types of aleatory events, the probability of which can be calculated by using the properties of probability on a finite space of events.
The problem of points, also called the problem of division of the stakes, is a classical problem in probability theory. One of the famous problems that motivated the beginnings of modern probability theory in the 17th century, it led Blaise Pascal to the first explicit reasoning about what today is known as an expected value.
Advantage gambling, or advantage play, refers to legal methods, in contrast to cheating in casinos, used to gain an advantage while gambling. The term usually refers to house-banked games, but can also refer to games played against other players, such as poker. Someone who practises advantage gambling is often referred to as an advantage player, or AP. Unlike cheating, which is by definition illegal, advantage play exploits innate characteristics of a particular game to give the player an advantage relative to the house or other players. While not illegal, advantage play is often discouraged and some advantage players may be banned by certain casinos.
In the common parlance, randomness is the apparent lack of pattern or predictability in events. A random sequence of events, symbols or steps often has no order and does not follow an intelligible pattern or combination. Individual random events are by definition unpredictable, but since they often follow a probability distribution, the frequency of different outcomes over numerous events is predictable. For example, when throwing two dice, the outcome of any particular roll is unpredictable, but a sum of 7 will occur twice as often as 4. In this view, randomness is a measure of uncertainty of an outcome, rather than its haphazardness, and applies to concepts of chance, probability, and information entropy.
Poker is a popular card game that combines elements of chance and strategy. There are various styles of poker, all of which share an objective of presenting the least probable or highest-scoring hand. A poker hand is usually a configuration of five cards depending on the variant, either held entirely by a player or drawn partly from a number of shared, community cards. Players bet on their hands in a number of rounds as cards are drawn, employing various mathematical and intuitive strategies in an attempt to better opponents.
PokerStove is a freeware probabilistic poker calculator that determines the odds of winning a Texas Hold'em hand using combinatorics.
References
- ↑ Mark Harlan; Chris Derossi (27 April 2011). Winning at Internet Poker For Dummies. John Wiley & Sons. pp. 223–. ISBN 978-1-118-07000-0.
- ↑ Dara O'Kearney; Barry Carter (27 February 2019). Poker Satellite Strategy: How to qualify for the main events of live and online high stakes poker tournaments. Barry Carter. pp. 160–. GGKEY:JFCGRGFCH93.
- ↑ Dr. Patricia Cardner; Gareth James (30 June 2019). Purposeful Practice for Poker: The Modern Approach to Studying Poker. D&B Publishing. pp. 184–. ISBN 978-1-912862-06-1.
- ↑ Bill Chen; Jerrod Ankenman (2006). The Mathematics of Poker. ConJelCo LLC. ISBN 978-1-886070-25-7.
- ↑ Karl J. Smith (7 January 2008). Mathematics: Its Power and Utility. Cengage Learning. pp. 631–. ISBN 1-111-80373-0.