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Online Gambling Terms for Beginner
GBGC has become a best gambling consultancy in all over the world. It provides all useful gambling data, information, trends, rules and acknowledgement regarding gambling. It works in this field more than 5 decades. Its use has beneficial for all the gamblers. Now in this book we describe some useful terms for the gambling beginners. So ready carefully all the terms because these all terms can be helpful for you.
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Index Page S.No
Page Title
Page No
1
Distinctive Gambling Terms
3
2
ODDS
4
3
Randoms
5
4
House Edge
6
5 Questionnaires
7
6 Myths
8
7
Contact Us
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Distinctive Gambling Terms
Watch out! Are you a first timer in the world of gambling? Then you might feel confused when you come across terms like ‘odds,’’ house edge,’ ‘winning bet,’ ‘Statistics Gaming,‘ etc.
Actually, these are terminologies that are integrally associated with gambling. Unless and until you have concise knowledge about the world of gambling and its various tricks and terminologies, you will not be able to make win a surety. Since 1998 GBGC has worked with clients on every continent, helping governments develop their gambling policy, advising companies of all sizes on their strategy, and assisting investment banks and private equity with due diligence work. GBGC also publishes the comprehensive Global Gambling Report – essential reading for gambling industry executives.
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Odds This commonly occurring term will not confuse you anymore if you know that odds are nothing but ways of assuming the probable digit or outcome of a particular bet. For instance, let us consider that you are playing the wheel based gambling game.
When you roll the dice and hope that ‘three’ will come, you have to keep yourself open for the probability that two, one, five, four or six may also come instead. Thus, your favorable odds will be in a ratio 1:6.
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Randoms Randomness is closely associated with the ‘odds.’ Say for instance, you roll your dice with the expectation that ‘six’ will come. You need to be simultaneously aware that one, two, three, four and five can also come.
While your odds will be in ratio of 1:6, the probability of rolling numbers other than your chosen ‘six’ will also be in ratio of 1:6. Thus, you need to keep in mind that ‘randoms’ and ‘odds’ do not follow exactly the assumption that you make. Hence, banking too much upon these and making heavy bets might not be in your favour every time.
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House Edge
When you make a bet in gambling, you always challenge someone. This person or entity that is opposite to you in the game is called the ‘house’. When you make a bet against the prediction made by the ‘house,’ you actually select your ‘odds’. Unfortunately, gambling statistics reveal that in most cases it is the ‘house’ that enjoys the ‘house edge’ and wins the bet and your ‘odds’ make you lose!
You will be astonished to know that in most cases the ‘house’ enjoys the ‘house edge’ because he is either the designer of the gambling machine or developer of the game. As a result, the technical specifications of the game remain within his fingertips. This enhances his chances of winning the bet. Thus, as a beginner the moment you witness that your initial odd bets are making your win you should be alert. You must immediately realize that these are the money that your previous gamer has lost while betting on the same machine. Moreover, you will also face the similar consequences after a few wins!
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Questionnaire on selecting your horse for a bet
Here is a questionnaire that will help you in selecting your horse for a bet. However, just remember that this information will not come in handy when you intend to go for internet gambling instead of real horse racing experience.
Q. Is genetic factor important when we select a champion sire or a dam for racing? Yes, it is. The breeders always prioritizing upon cross breeding champion horses and mares for getting sturdy and energetic offspring. The offsprings inherently possesses the qualities of a racing horse. Actually, racing horses have some qualities that separate them from the rest of the crowd. When such superior varieties of horses are breaded with each other, they pass on these traits to their offspring in turn. Q. Does the size of horses determine the distance they can cover at a time? Yes, like humans the distance covered by a horse depends a lot upon its size. Thus, shorter horses are better suited for short distance events as they have higher speed. However, their delicate bone structure makes them possess staying power for long distance events. On the other hand, taller horses have greater endurance, and eventually cover greater distance at a time. Hence, they are best for long distance races. Q. Do the mares and horses have same skill sets when they are chosen for breeding? Breeders cannot predict the skill the offspring will inherit when they go for such irregular breeding. Therefore, the general tendency of breeders is to breed horses that have almost similar
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Myths about Roulette:
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Myth 1: The wheel of this wheel based game is similar all over the world
Although the fundamental characteristic of Roulette is that it is a wheel based game, there is no reason to believe that the wheels have same feature across the world. For instance, the European wheel gives you greater advantages as compared to the American wheel because the former case makes the odds in your favor. Therefore, it is a myth.
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Myth 2: The spin of wheel in Roulette is connected with that of the previous spin
There is nothing obvious in gambling. If you believe that since the wheel has hit the black more than ten times before you made your bet so the red will have high chances of win when you bet, you are wrong! There is no sure shot metrics for predicting win and loss in Roulette. Casino gambling statistics further show that the chances of odds favoring you when you make your bet are 50:50 only. So, get rid of such myths.
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For further queries please visit us at Gbgc.com OR
Contact Us Tel +44 (0) 1624 827138 Fax +44 (0)1624 827139 Email: warwick@gbgc.com 2nd Floor 8-10 Malew Street, Castletown, Isle of Man, IM9 1AB