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How to Get a Free Transunion Credit Report.How to Get a Free Experian Credit Report.How to Remove Something From Credit Report.What’s This Charge On My Credit Card Statement?. the bookmaker will pay out using his actual odds, an amount which is less than the true odds would have paid, thus ensuring a profit). This is achieved primarily by adjusting what are determined to be the true odds of the various outcomes of an event in a downward fashion (i.e. See Dutch book and coherence (philosophical gambling strategy). : 6 : 13, 36 Making a 'book' (and the notion of overround) Ī bookmaker strives to accept bets on the outcome of an event in the right proportions in order to make a profit regardless of which outcome prevails. The phrase originates from the practice of recording such wagers in a hard-bound ledger (the 'book') and gives the English language the term bookmaker for the person laying the bets and thus 'making the book'. In gambling parlance, making a book is the practice of laying bets on the various possible outcomes of a single event. Please help improve this article by introducing citations to additional sources.įind sources: "Mathematics of bookmaking" – news Relevant discussion may be found on the talk page. This article relies largely or entirely on a single source. |
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