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Your "odds" are your likelihood or probability of winning.

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Q: What does the odds mean in gambling?
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Continue Learning about American Government

Who has the power to regulate gambling?

The states have the power to regulate gambling.


Do professional sports leagues make money from gambling This is asked in light of the recent match-fixing scam going on in tennis that the Russian and Italian mafia are involved?

No. The profits are only made by the people organizing the gambling. It would be weird (and it would mean the immediate dismissal of a sports league's Board) if a sports league would profit from organized crime-activities and matchfixing.


Over what issue did the Southern Democratic and the Northern Republican parties seem totally at odds?

The issue is slavery.


If i was born in 1966 what are the odds of me being born in the United States?

even ^lol above Go on to USNWR or the UN's website and find out how many children were born that year. Then find out how many of those children were born in the US. babies in US/babies=odds you were born in the US


Why do some countries ban gambling?

Usually on the grounds that it violates some religious precept. Sometimes on the (debatable) grounds that it encourages crime. But mostly because of the money and political opportunism. Gambling is often linked to organized crime. Partially because it is a network good; The more players the more value to each individual player. It is more profitable when managed centrally, thus setting it outside the skill set of most stand alone criminals. Gambling represents a stream of income and governments seek to tax such things, this increases the cost to gamble and so motivation is created go around government influence. Gambling is often absorbed by governments, and to limit competition, they heavily regulate it or make it illegal. A great example is the American lottery. Any demand for an illicit activity will create an illicit market. Historic and contemporary examples of various forms of prohibition amply demonstrate this. Ironically, the very act of making gambling illegal often leads to a self fulfilling prophecy in terms of increased crime by making gamblers criminals. This serves the needs of politicians rather well, since being "tough on crime" is easy since criminals have no overt political power. Thus when the question of deregulating gambling is brought up there will never be a shortage of political opposition, regardless of validity of either side of the debate. Gambling also is opposed on the grounds that it encourages dishonesty. Depending on the game in question this has a measure of truth. Poker players for example can profit heavily if they can deceive (or penetrate the deception of) their opponents.

Related questions

What is a name for gambling odds?

Some synonyms for 'gambling odds' are:chancespoint spreadprobability


What are the best odds in Vegas?

I believe that for most gambling machines your odds for winning are about 49%.


Gambling odds 5 letter word?

lines


What 5 letter word means gambling odds?

lines


Who makes money when people are gambling?

The odds always favor the house.


Where is probability used in everyday life?

Logical decision making. Gambling. Odds.


What does 'five will get you ten' mean?

A saying expressing the high odds of an event occurring, stemming from the idea of 2:1 odds in gambling. "Five gets you ten that Lindsey Lohan will get arrested at least another 3 times this year."


Who is bias in gambling?

If you want the definition you should ask "What is bias in gambling?". This is when the odds favour one player more than another. Generally the bias favours the "house".


What does puts them at odds mean - what is the origin of the phrase?

One is said to be 'at odds' when either competing with another or simply holding an opinion differing with another. Generally thought to be a derivative of gambling terminology, the term could have originated in the Edwardian Era of the early 20th. century.


Where can one view live NCAA football odds?

The odds for sports can often be found via gambling websites who often determine their own odds for the purposes of betting. Otherwise, a local gaming facility should have the appropriate informations regarding the odds.


What information can be found on the Wizard of Odds website?

The Wizard of Odds website offers a ton of information about gambling. It can teach you game odds and strategies and also offers different tools to help one learn how to bet smartly.


How is probability used in real life?

=Probability is used in many ways.==For example:==* gambling==*bettting odds==and anywhere in the world!=