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Second, the house edge, which is the percentage that a gaming agent collects from the players as a commission, which is also a standard gauge of how good a wagering game is, has a value in the neighborhood of 5%-20% for sports betting while it is typically more than 50% in the case of state owned lotteries; the value varies for different casino games, but it surely is way less than 50% in most cases. My article entitled "Casino, Sports-betting, and Lottery - A Comparison of the House Edge" just does that.
Although sports are the most common events for betting, nowadays you can place bets on pretty much any publicized event. The outcome of presidential and other elections, the verdict on famous trials, private lives of celebrities (such as marriage, divorce, child birth) are just a few of the events you can bet on.
It is true that most bets do no more than just double your wager while casino games and lotteries can bring returns that are hundreds and even thousands of times your wager. But, many sportsbooks offer a way of combining several bets as one in order to form what is known as a parlay. Theoretically, a parlay payout should be the product of the individual odds that make up the parlay. If, for example, you have five bets each with 1:2 odds and form a parlay, the payout should be 32 times the wager. We have to admit that it is certainly more difficult to win with parlays than with single bets. Nevertheless, the payout to a winning parlay could be so enormous that it is unwise to bypass parlay betting as unachievable venture. As a matter of fact, if the sportsbook offers the proper tools, then winning big money with parlays will not be as hard as it may seem to be.
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