Financial betting

Financial betting refers to the wagering on the price development of a financial instrument at some later date relative to the current price or level of the instrument, against odds offered by a bookmaker. Maximum potential pay-off of the wager is known when the bet is taken and as a corollary risk is known beforehand by being limited to the initial stake.

Financial betting instruments are a type of digital option. The outcome of the wager at settlement is binary, that is, either a win or a loss. Settlement is executed in cash and there is no delivery of the underlying asset. At any point in time prior to the settlement date bets can often be sold, allowing for possibilities to bet on the accuracy of a market move within the fixed limits of zero win loss of the stake and maximum potential win. A fee might sometimes be charged for this service.

The main difference between financial betting and speculation on financial markets using products such as financial spread betting is that the bet must result in a simple binary win or loss based on an event on the underlying financial instruments. This triggers a fixed payout for a win, while with spread betting the payout or loss varies with the price level of the underlying instrument. Within financial floating odds the odds change for a given strike price as the price of the underlying changes. The floating odds company calculates odds for different strikes and how much can be won upon settlement depends on how much is bet at those odds.

Within financial fixed odds betting, the odds are fixed, while the strike price where a win is achieved relative the current level changes. The fixed odds company will calculate how much has to be bet to win a certain amount upon settlement if the conditions of the prediction become true.

Blind

The blinds are forced bets posted by players to the left of the dealer button in flop-style poker games. The number of blinds is usually two, but it can range from none to three.

The small blind is placed by the player to the left of the dealer button and the big blind is then posted by the next player to the left. The one exception is when there are only two players a heads-up game, when the player on the button is the small blind, and the other player is the big blind. Both the player and the bet may be referred to as big or small blind.

After the cards are dealt, the player to the left of the big blind is the first to act during the first betting round. If all players call the big blind, the big blind is then given an extra opportunity to raise. This is known as a live blind. If the live blind checks, the betting round then ends.

Generally, the big blind is equal to the minimum bet. The small blind is normally half the big blind. In cases where posting exactly half the big blind is impractical due to the big blind being some odd-valued denomination, the small blind is rounded down to the nearest practical value. For example, if the big blind in a live table game is $3 then the small blind will usually be $1 or $2 since most casinos do not distribute large quantities of $0.50 poker chips.

The blinds exist because Omaha and Texas hold 'em are frequently played without antes, allowing a player to fold his hand without placing a bet. The blind bets introduce a regular cost to take part in the game, thus inducing a player to enter pots in an attempt to compensate for that expense.

It is possible to play without blinds. The minimum bet is then the lowest denomination chip in play, and tossing only 1 chip is considered a call. Anything higher than that is considered a raise. Poker without blinds is usually played with everyone posting an ante to receive cards, but it is technically possible to have absolutely no ante or blinds at all.

Pachinko

Pachinko is a Japanese gaming device. A pachinko machine resembles a vertical pinball machine, but has no flippers and uses a large number of small balls. The player fires balls into the machine, which then cascade down through a dense forest of pins. If the balls go into certain locations, sequences of events are triggered that result in more balls being released; these balls can then be exchanged for prizes. Pachinko machines were originally strictly mechanical, but modern ones have incorporated extensive electronics, becoming similar to video slot machines.

The machines are widespread in establishments called parlors, which feature a number of slot machines; hence, they operate and look similar to casinos. Modern pachinko machines are highly customizable, keeping enthusiasts continuously entertained. Because gambling for cash is illegal in Japan, balls won cannot be exchanged directly for cash in the parlor; instead the balls are exchanged for tokens, which are then taken outside and exchanged for cash at a place nominally separate from the parlor and possibly run by organized crime.

As an indicator of the popularity of pachinko in Japan, Japanese government estimates of the annual turnover of the pachinko industry are in the region of 29 trillion yen. To put this in perspective, this is about twice the annual turnover of Japan's automobile industry, and approximately equivalent to the estimated annual turnover of the global narcotics trade.

Pachinko parlors are known for tweaking their machines to maximize their profits without intimidating customers, which means that most machines have different payout settings than what their manufacturers claim. The Japanese police can tolerate such manipulation as long as it happens outside of business hours; generally, those that cause a loss to the player are found in greater numbers.

Resetting of machines every day before opening hours is a feature of all parlors, because of the strict enforcement of closing times implying some players having to give up their machines when they hit a string of jackpots. Those whose machines are in payout mode at this time are allowed to collect their balls for the duration of the payout. Some parlors allow members to hold a particular machine across operating sessions. Timing is another factor in determining how parlors set their machines: holidays, when many people play pachinko, are favorable because many play it for leisure and the parlors are keen to attract them to come back for more. Weekends are unfavorable because the majority of players have only this time to play.

The layout of the different setting machines is a psychological method of attracting players; machines near the entrance are usually set at a high payout rate. When people walk by the parlor and see players at those machines with a large number of balls, they are more inclined to go inside and play the other machines even though they are at lower settings. For this purpose, many parlors employ "sakuras" to sit at these machines and emulate players winning a large number of balls; they are required to return these balls to the parlor free of charge minus their wages.