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.
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.
Fixed-odds betting is a form of gambling where individuals place bets on the outcome of an event, such as sports matches or horse races, at predetermined odds. In fixed-odds betting, the odds are fixed and determined at the time of placing the bet. These odds reflect the likelihood of a particular outcome occurring. If the bettor's prediction is correct, they receive a payout based on the fixed odds. This means that the potential winnings are known at the time of placing the bet, regardless of any changes in the odds leading up to the event.
A lottery is a form of gambling that involves the drawing of numbers at random for a prize. Some governments outlaw lotteries, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments. The most common regulation is prohibition of sale to minors, and vendors must be licensed to sell lottery tickets. Although lotteries were common in the United States and some other countries during the 19th century, by the beginning of the 20th century, most forms of gambling, including lotteries and sweepstakes, were illegal in the U.S. and most of Europe as well as many other countries. This remained so until well after World War II. In the 1960s, casinos and lotteries began to re-appear throughout the world as a means for governments to raise revenue without raising taxes.
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, including the impossible amount of money a casino would need to continue the game indefinitely.
Liar's dice is a class of dice games for two or more players requiring the ability to deceive and to detect an opponent's deception. In "single hand" liar's dice games, each player has a set of dice, all players roll once, and the bids relate to the dice each player can see plus all the concealed dice. In "common hand" games, there is one set of dice which is passed from player to player. The bids relate to the dice as they are in front of the bidder after selected dice have been re-rolled. Originating during the 15th century, the game subsequently spread to Latin American and European countries. In 1993, a variant, Call My Bluff, won the Spiel des Jahres.
A raffle is a gambling competition in which people obtain numbered tickets, each of which has the chance of winning a prize. At a set time, the winners are drawn at random from a container holding a copy of each number. The drawn tickets are checked against a collection of prizes with numbers attached to them, and the holder of the ticket wins the prize.
A sweepstake is a type of contest where a prize or prizes may be awarded to a winner or winners. Sweepstakes began as a form of lottery that were tied to products sold. In response, the FCC and FTC refined U.S. broadcasting laws. Under these laws sweepstakes became strictly "No purchase necessary to enter or win" and "A purchase will not increase your chances of winning", especially since many sweepstakes companies skirted the law by stating only "no purchase necessary to enter", removing the consideration to stop abuse of sweepstakes. Today, sweepstakes in the United States are used as marketing promotions to reward existing consumers and to draw attention to a product. By definition, the winner is determined by pure random chance rather than skill.
Deal or No Deal is the name of several closely related television game shows, the first of which was the Dutch Miljoenenjacht. The centerpiece of this format is the final round which is played with up to 26 cases, each containing randomly assigned sums of money. After the player for the case game is determined, this contender claims one case or a box at the start of the game, without its contents being revealed. The contestant then chooses the other cases or boxes, one at a time, to be immediately opened and removed from play. Throughout the game, the player is offered an amount of money or prizes to quit, being asked the titular question, "Deal or no deal?" If the contestant rejects every deal and eliminates all the other cases or boxes, the player keeps the money that was in the original case or box. Thus, the contestant "wins" depending on whether the player should have taken one of the deals or should have held onto the original case or box until the very end.
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.
A video lottery terminal (VLT), also sometimes known as a video gaming terminal (VGT), video slots, or the video lottery, is a type of electronic gambling machine. They are typically operated by a region's lottery, and situated at licensed establishments such as bars and restaurants.
A scratchcard is a card designed for competitions, often made of thin cardstock or plastic to conceal PINs, where one or more areas contain concealed information which can be revealed by scratching off an opaque covering.
A unique bid auction is a type of strategy game related to traditional auctions where the winner is usually the individual with the lowest unique bid, although less commonly the auction rules may specify that the highest unique bid is the winner. Unique bid auctions are often used as a form of competition and strategy game where bidders pay a fee to make a bid, or may have to pay a subscription fee in order to be able to participate.
Lotteries in Australia include various lottery related products licensed by The Lottery Corporation, The Lottery Office and Lotterywest Australian lottery companies. Lotteries operators are licensed at a state or territory level, and include both state government-owned, not-for-profit and private sector companies. Most major Lotteries have now moved into the online marketplace.
A coin board or merchandise board is a variation on pull-tab games. A game board of this type typically comes with a registered package of pull-tab tickets, a signers card, and a pay-out slip.
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.
The Michigan Lottery was initiated under the authority of Public Act 239 in 1972, and collects funds to support Michigan’s public school system.
The National Lottery is the state-franchised national lottery established in 1994 in the United Kingdom. It is regulated by the Gambling Commission, and is currently operated by Camelot Group, to which the licence was granted in 1994, 2001 and again in 2007, but will be operated by Allwyn Entertainment Ltd from 2024.
Bingo is a game of probability in which players mark off numbers on cards as the numbers are drawn randomly by a caller, the winner being the first person to mark off all their numbers. Bingo, also previously known in the UK as Housey-Housey, became increasingly popular across the UK following the Betting and Gaming Act 1960 with more purpose-built bingo halls opened every year until 2005. Since 2005, bingo halls have seen a marked decline in revenues and the closure of many halls. The number of bingo clubs in Britain has dropped from nearly 600 in 2005 to under 400 as of January 2014. These closures are blamed on high taxes, the smoking ban, and the rise in online gambling, amongst other things.
