Sports Betting
The likelihood of an event occurring with a probability of 0%.
What is impossible?
The grand prize when you "hit" the lottery
What is the jackpot?
A behavior that a person cannot stop, but does harm
True or false: if an event has a probability of 0.2 it is very likely to happen.
What is false?
A situation where you could lose something, like money or time.
What is risk?
1 out of 10 odds of winning as a percentage
What is 10%?
Chances of winning a prize if the odds are 1 in 1,000,000. (high, low, equal)
What is low?
The idea of the average outcome if a game is played many times.
What is expected value?
Setting a limit before gambling that you will not go over is an example of...
What is responsible gambling?
The likelihood that an event will occur, written as a number between 0 and 1.
What is probability?
Young people who have been harassed by bettors and are deeply impacted by the choice to allow sports betting.
What are college athletes?
Receiving a payout over many years instead of all at once.
What is an annuity?
A sign that someone has a gambling addiction.
What is spending all their rent money, hiding it from family and friends, can't stop betting regardless of how many times they lost...
Why casinos advertise big wins and high odds.
What is to make money?
Why people gamble.
What can be exciting and rewarding?
A bet made that does not depend on the outcome of a game
What is a prop bet?
The two options you have to receive winnings if you win the lotto.
What is a lump sum or annuity?
Some of the methods casinos use to keep people playing.
What are no windows or clocks, bright, flashy lights, exciting sounds, small wins...
The advantage casinos have over the players.
What is the house edge?
Odds of a spinner landing on green when there are 8 equal sections; 3 are blue, 2 are red, 2 are green, and 1 is yellow. (Fraction, reduce if possible)
What is 1/4?
The baseball team that was involved in the 1919 world series and threw the game because they were mad at the owner for what they were being paid.
Who are the Chicago White Sox?
The act of targeting or charging higher rates to lower-income groups.
What is regressive?
A person believes that the next game is going to be a win
What is the gambler's fallacy?
The chemical that is released in your brain that signals reward.
What is dopamine?
Answers will vary.