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gambling
(redirected from bettor)

   Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.

gambling

The staking of money or anything else of value on the outcome of a competition. Forms of gambling include betting on sports results, casino games like blackjack and roulette, card games like poker, slot machines, and lotteries.

For many years certain forms of gambling were illegal in the USA, but revenue needs in state and local governments led to the the legalization of some gambling operations, such as casinos, state-wide lotteries, and off-track bookmakers.

Gambling is a multibillion-dollar operation worldwide and can be addictive. Gamblers Anonymous was set up in the US in 1957 to help compulsive gamblers overcome their addiction.



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All exchanges work on the basis of matching a lay bettor (one "laying" a bet that a team will lose) with back bettor (one "backing" a team to win); therefore, the more participants in an exchange, the more likely one is to have his bet matched.
Increasing volatility does two things: it increases the prospects that a normally successful bettor over a particular period of time will suffer an unexpected loss, and it also increases the prospects that a normally unsuccessful better over a particular period of time will enjoy an unexpected profit.
All you can eat NFL serves up another dish for sports bettors in Week 1, rounding out the card with a Monday Night Football doubleheader.
 
 
 
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