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Parimutuel betting

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Parimutuel betting or pool betting is a betting system in which all bets of a particular type are placed together in a pool; taxes and the "house-take" or "vigorish" are deducted, and payoff odds are calculated by sharing the pool among all winning bets. In some countries it is known as the tote after the totalisator , which calculates and displays bets already made.

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91-420: The parimutuel system is used in gambling on horse racing , greyhound racing , jai alai , and other sporting events of relatively short duration in which participants finish in a ranked order. A modified parimutuel system is also used in some lottery games. Parimutuel betting differs from fixed-odds betting in that the final payout is not determined until the pool is closed – in fixed-odds betting,

182-643: A Romance ethnic group native to Catalonia , who speak Catalan . The current official category of "Catalans" is that of the citizens of Catalonia , a nationality and autonomous community in Spain and the inhabitants of the Roussillon historical region in southern France, today the Pyrénées Orientales department, also called Northern Catalonia and Pays Catalan in French. Some authors also extend

273-594: A casino setting. Gambling games that take place outside of casinos include bingo (as played in the US and UK ), dead pool , lotteries , pull-tab games and scratchcards , and Mahjong . Other non-casino gambling games include: *Although coin tossing is not usually played in a casino, it has been known to be an official gambling game in some Australian casinos Fixed-odds betting and Parimutuel betting frequently occur at many types of sporting events, and political elections. In addition many bookmakers offer fixed odds on

364-401: A decimal currency such as dollars , each outcome has a certain amount of money wagered: Thus, the total pool of money on the event is $ 1028.00. Following the start of the event, no more wagers are accepted. The event is decided and the winning outcome is determined to be Outcome 4 with $ 110.00 wagered. The payout is now calculated. First the commission or take for the wagering company

455-727: A "gaming" company offers (legal) "gambling" activities to the public and may be regulated by one of many gaming control boards , for example, the Nevada Gaming Control Board . However, this distinction is not universally observed in the English-speaking world. For instance, in the United Kingdom, the regulator of gambling activities is called the Gambling Commission (not the Gaming Commission). The word gaming

546-441: A Canadian or Super Yankee trying to pick five; these also include subsidiary bets. There are also other bets which are large combinations of singles, doubles, trebles and accumulators some of them are called Lucky 15, Lucky 31, Heinz, Super Heinz, Goliath. The term nap identifies the best bet of the day. Tote Ireland operates the following pools Bet types for harness racing (trotting): The Hong Kong Jockey Club (HKJC) operates

637-525: A Catalan identity was increasingly suppressed in favor of a Spanish national identity. The Catalans regained autonomy during the Spanish Second Republic from 1932 until Francisco Franco 's nationalist forces occupied Catalonia by 1939. It was not until 1975 and the death of Franco that the Catalans as well as other Spaniards began to regain their right to cultural expression, which was restarted by

728-535: A World Heritage Site by UNESCO. Because of their intertwining history, many of the traditional symbols of Catalonia coincide with Aragon, Valencia and the Balearic Islands. The oldest known Catalan symbol is the coat of arms of the King of Aragon and Count of Barcelona, or bars of Aragon , one of Europe's oldest heraldic emblems; in modern times, Catalan nationalists have made it the main symbol of Catalan identity and it

819-562: A book. Historical memory is the second axis of celebrations in Catalonia, where the Catalan people reunite with their date of birth as a people. Among the religious celebrations, there are St. George's Day and the celebrations of Saint Vincent Martyr and Saint Anthony Abbot . The maximum expressions of this element are the Easter processions and performances of Passion Plays . Some festivals have

910-719: A complicated relationship with religion, such as Carnival and the Dances of Death , or specific aspects of Christmas such as the Tió de Nadal or the caganer in Nativity scenes . Other key elements of a Catalan celebration are: food, central to every party and especially to the pig slaughter and harvest festivals; contests such as the castells (human towers), choice of major and festive floats; music, songs and bands; processions; dances; and animals, especially bulls and representations of mythological creatures. The Patum of Berga has been declared

1001-648: A gambling contract may not give a casino bona fide purchaser status, permitting the recovery of stolen funds in some situations. In Lipkin Gorman v Karpnale Ltd , where a solicitor used stolen funds to gamble at a casino, the House of Lords overruled the High Court's previous verdict, adjudicating that the casino return the stolen funds less those subject to any change of position defence. U.S. Law precedents are somewhat similar. For case law on recovery of gambling losses where

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1092-563: A house bias can quite easily be missed unless the devices are checked carefully. Most jurisdictions that allow gambling require participants to be above a certain age. In some jurisdictions, the gambling age differs depending on the type of gambling. For example, in many American states one must be over 21 to enter a casino, but may buy a lottery ticket after turning 18. Because contracts of insurance have many features in common with wagers, insurance contracts are often distinguished in law as agreements in which either party has an interest in

1183-434: A local term seny meaning "common sense" or a pragmatic attitude toward life. The counterpart of Catalan "seny" is "rauxa" or madness, epitomized by "crazy", eccentric and creative Catalan artists like Antoni Gaudí , Salvador Dalí , Joan Miró or Antoni Tàpies . The masia or mas is a defining characteristic of the Catalan countryside and includes a large house, land, cattle, and an extended family, but this tradition

1274-518: A number of linguistic varieties that are considered dialects of Catalan , among them, the dialect group with the most speakers, Central Catalan . The total number of Catalan speakers is over 9.8 million (2011), with 5.9 million residing in Catalonia. More than half of them speak Catalan as a second language, with native speakers being about 4.4 million of those (more than 2.8 in Catalonia). Very few Catalan monoglots exist; basically, virtually all of

1365-587: A number of non-sports related outcomes, for example the direction and extent of movement of various financial indices , the winner of television competitions such as Big Brother , and election results. Interactive prediction markets also offer trading on these outcomes, with "shares" of results trading on an open market. One of the most widespread forms of gambling involves betting on horse or greyhound racing . Wagering may take place through parimutuel pools, or bookmakers may take bets personally. Parimutuel wagers pay off at prices determined by support in

1456-403: A series of bets in which bettors stake the winnings from one race on the next in order until either the bettor loses or the series completes successfully. In Australia, certain exotic bet types can be laid as "flexi" bets. Usually the price of an exotic bet is determined by a set multiple of the outcome, for example $ 60 for a five horse boxed trifecta at one unit ($ 1)—or $ 30 at half unit (50c). If

1547-516: A smaller take and thus offer better payoffs, but they are illegal in some countries. However, the introduction of Internet gambling led to "rebate shops". These off-shore betting shops promise to return some percentage of every bet made to the bettor. They may reduce their take from 15–18% to as little as 1–2%, while still generating a profit by operating with minimal overhead . There may be several different types of bets, in which case each type of bet has its own pool. The basic bets involve predicting

1638-750: A source of destruction in Singalovada Sutra . Professions that are seen to violate the precept against theft include working in the gambling industry. Ancient Hindu poems like the Gambler's Lament and the Mahabharata testify to the existence of gambling among ancient Indians, while highlighting its destructive impact. The text Arthashastra ( c.  4th century BCE ) recommends taxation and control of gambling. Ancient Jewish authorities frowned on gambling, even disqualifying professional gamblers from testifying in court. The Catholic Church holds

1729-430: A statement is true or false, or that a specified event will happen (a "back bet") or will not happen (a "lay bet") within a specified time. This occurs in particular when two people have opposing but strongly held views on truth or events. Not only do the parties hope to gain from the bet, they place the bet also to demonstrate their certainty about the issue. Some means of determining the issue at stake must exist. Sometimes

1820-537: A very small winning payout (say, $ 1.02 or $ 1.03 on a dollar bet), but legal regulations might require a larger payout (e.g., minimum $ 1.10 on a dollar bet). This condition is sometimes referred to as a minus pool. In an event with a set of n possible single-winner outcomes, with wagers W 1 , W 2 , ..., W n the total pool of money on the event is W T = ∑ i = 1 n W i . {\displaystyle W_{T}=\sum _{i=1}^{n}W_{i}.} After

1911-585: Is a consensus among the ‘ Ulema ’ ( Arabic : عُـلـمـاء , Scholars (of Islam )) that gambling is haraam ( Arabic : حَـرام , sinful or forbidden). In assertions made during its prohibition, Muslim jurists describe gambling as being both un- Qur’anic , and as being generally harmful to the Muslim Ummah ( Arabic : أُمَّـة , Community). The Arabic terminology for gambling is Maisir . They ask you about intoxicants and gambling. Say: 'In them both lies grave sin, though some benefit, to mankind. But their sin

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2002-464: Is a theoretically risk-free betting system in which every outcome of an event is bet upon so that a known profit will be made by the bettor upon completion of the event regardless of the outcome. Arbitrage betting is a combination of the ancient art of arbitrage trading and gambling, which has been made possible by the large numbers of bookmakers in the marketplace, creating occasional opportunities for arbitrage. One can also bet with another person that

2093-543: Is acceptable is a matter of debate: Investments are also usually not considered gambling, although some investments can involve significant risk. Examples of investments include stocks , bonds and real estate . Starting a business can also be considered a form of investment. Investments are generally not considered gambling when they meet the following criteria: Some speculative investment activities are particularly risky, but are sometimes perceived to be different from gambling: A levant or levanting characterises

2184-588: Is among the most industrialized metropolises. A regional capital, it is a magnet for domestic and foreign migrants. Fire is the element used in most important traditional festivals, which are derived from pagan roots. These celebrations have a high acceptance of fire between the Catalans, like the Flame of Canigó to the Bonfires of Saint John . An important and well-known celebration is La Diada de Sant Jordi , held on 23 April, in which men give women roses, and women give men

2275-459: Is deducted from the pool. For example, with a commission rate of 14.25% the calculation is: $ 1028 × 0.1425 = $ 146.49. This leaves a remaining amount of $ 881.51. This remaining amount in the pool is now distributed to those who wagered on Outcome 4: $ 881.51 / $ 110.00 = 8.01 ≈ $ 8 payout for $ 1 wagered. This payout includes the $ 1 wagered plus an additional $ 7 profit. Thus, the odds on Outcome 4 are 7-to-1 (or, expressed as decimal odds , 8.01). Prior to

2366-506: Is in decline as the nuclear family has largely replaced the extended family, as in the rest of western Europe. Catalonia in Spain is officially recognised as a " nationality " and enjoy a high degree of political autonomy, which has led to reinforcement of a Catalan identity. The Catalan language is a Romance language . It is the language closest to Occitan , and it also shares many features with other Romance languages such as Spanish, French, Portuguese, Aragonese , and Italian . There are

2457-616: Is more grave than their benefit.' In parts of the world that implement full Shari‘ah, such as Aceh , punishments for Muslim gamblers can range up to 12 lashes or a one-year prison term and a fine for those who provide a venue for such practises. Some Islamic nations prohibit gambling; most other countries regulate it . According to the Most Holy Book , paragraph 155, gambling is forbidden. While almost any game can be played for money, and any game typically played for money can also be played just for fun, some games are generally offered in

2548-431: Is now calculated as $ 20/$ 60 = 33.3%. If the bet is successful, the payout will be 33.3% of the winning amount for a full unit bet. In recent times the "Roving Banker" variant for Trifecta and First4 betting is now offered. For a Roving Banker First4 the player selects one, two or three runners they believe will definitely finish 1st, 2nd, 3rd or 4th, and up to three selections as Roving Banker(s) with other runners to fill

2639-455: Is part of the Mediterranean diet and includes the use of olive oil . Catalan people like to eat veal ( vedella ) and lamb ( xai ). There are three main daily meals: In Catalan gastronomy, embotits (a wide variety of Catalan sausages and cold meats) are very important; these are pork sausages such as botifarra or fuet . In the past, bread figured heavily in the Catalan diet; now it

2730-508: Is reached, and the motivation is entertainment and not personal gain leading to the "love of money" or making a living. In general, Catholic bishops have opposed casino gambling on the grounds that it too often tempts people into problem gambling or addiction, and has particularly negative effects on poor people; they sometimes also cite secondary effects such as increases in loan sharking, prostitution, corruption, and general public immorality. Some parish pastors have also opposed casinos for

2821-545: Is sometimes called ollada . Other Catalan dishes include calçots (a type of onions that are similar in shape to leeks , often grilled and eaten with a romesco sauce ) and escalivada . Catalan music has one of the oldest documented musical traditions in Europe. The traditional religion in Catalonia is Roman Catholicism . However, in the course of recent history , Catalonia has undergone several waves of secularization. The first wave of secularization happened during

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2912-445: Is used mainly in the morning (second breakfast, especially among young students and some workers) and supplements the noon meal, at home and in restaurants. Bread is still popular among Catalans; some Catalan fast-food restaurants don't serve hamburgers, but offer a wide variety of sandwiches. In the past, the poor ate soup every day and rice on Thursday and Sunday. The discipline of abstinence, not eating meat during Lent , once

3003-400: Is used more frequently since the rise of computer and video games to describe activities that do not necessarily involve wagering, especially online gaming , with the new usage still not having displaced the old usage as the primary definition in common dictionaries. "Gaming" has also been used euphemistically to circumvent laws against "gambling". The media and others have used one term or

3094-425: The barretina (a sort of woollen, long cap usually red or purple) and the faixa (a sort of wide belt) among men, and ret (a fine net bag to contain hair) among women. The traditional footwear was the espardenya or espadrille . Other items of clothing typical of Catalan female folk costume include the 'pubilla' dress; the 'catalana' also known as the 'payesa' and the 'gandalla' as headwear. The Catalan diet

3185-492: The .cat TLD, the first Internet language-based top-level domain, was approved for all web pages intending to serve the needs of the Catalan linguistic and cultural community on the Internet. This community is made up of those who use the Catalan language for their online communication or promote the different aspects of Catalan culture online. The traditional dress (now practically only used in folkloric celebrations) included

3276-981: The Christian Reformed Church in North America , the Church of the Lutheran Confession , the Southern Baptist Convention , the Assemblies of God , and the Seventh-day Adventist Church . Other churches that oppose gambling include the Jehovah's Witnesses , The Church of Jesus Christ of Latter-day Saints , the Iglesia ni Cristo , and the Members Church of God International . There

3367-491: The Spanish Constitution of 1978 . Since this period, a balance between a sense of Catalan national identity versus the broader Spanish one has emerged as the dominant political force in Catalonia. The former tends to advocate for even greater autonomy, national recognition and, part of it, independence; the latter tends to argue for maintaining either a status quo or removal of autonomy and cultural identity, depending on

3458-607: The "bet-upon" outcome beyond the specific financial terms; for example, a "bet" with an insurer on whether one's house will burn down is not gambling, but rather insurance , as the homeowner has an obvious interest in the continued existence of the home independent of the purely financial aspects of the "bet" (i.e., the insurance policy). Nonetheless, both insurance and gambling contracts are typically considered aleatory contracts under most legal systems, though they are subject to different types of regulation. Under common law , particularly English Law ( English unjust enrichment ),

3549-667: The 17th century. The first known casino, the Ridotto , started operating in 1638 in Venice, Italy. Gambling has been a main recreational activity in Great Britain for centuries. Queen Elizabeth I chartered a lottery that was drawn in 1569. Horseracing has been a favorite theme for over three centuries. It has been heavily regulated. Historically much of the opposition comes from Nonconformist Protestants , and from social reformers. Gambling has been part of Singapore's history, though it

3640-411: The 1980s. During the 1990s most of the population of Catalonia was non-practising Catholic. Nowadays 52.4% of Catalans declare themselves Catholic, practising or not, 30.2% of Catalans are agnostic or atheist , and there is also a considerable share of other religions, often connected to recent immigration: 7.3% Muslim , 2.5% Evangelical , 1.3% Buddhism , and 1.2% Orthodox Christians . According to

3731-400: The Catalan speakers in Spain are bilingual speakers of Catalan and Spanish, with a sizable population of Spanish-only speakers of immigrant origin (typically born outside Catalonia or with both parents born outside Catalonia) existing in the major Catalan urban areas as well. In Roussillon , only a minority of French Catalans speak Catalan nowadays, with French being the majority language for

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3822-598: The Crown, as well as urban and feudal internal conflicts led to the Catalan Civil War in 1462. In the last quarter of the 15th century, the marriage of Isabella I of Castile and Ferdinand II of Aragon led to the dynastic union of the Crown of Aragon with the Crown of Castille , in which each of the constitutive realm kept its own laws, policies, power structures, borders and monetary systems. Continuous unrest led to conflicts on

3913-621: The act of absconding following the outcome of a bet. Problem gambling has multiple symptoms. Gamblers often play again to try to win back money they have lost, and some gamble to relieve feelings of helplessness and anxiety. In the United Kingdom, the Advertising Standards Authority has censured several betting firms for advertisements disguised as news articles suggesting falsely that a person had cleared debts and paid for medical expenses by gambling online. The firms face possible fines. A 2020 study of 32 countries found that

4004-713: The additional reason that they would take customers away from church bingo and annual festivals where games such as blackjack , roulette , craps , and poker are used for fundraising. St. Thomas Aquinas wrote that gambling should be especially forbidden where the losing bettor is underage or otherwise not able to consent to the transaction. Gambling has often been seen as having social consequences , as satirized by Balzac . For these social and religious reasons, most legal jurisdictions limit gambling, as advocated by Pascal . Gambling views among Protestants vary, with some either discouraging or forbidding their members from participation in gambling. Methodists , in accordance with

4095-413: The amount bet remains nominal, demonstrating the outcome as one of principle rather than of financial importance. Betting exchanges allow consumers to both back and lay at odds of their choice. Similar in some ways to a stock exchange, a bettor may want to back a horse (hoping it will win) or lay a horse (hoping it will lose, effectively acting as bookmaker). Spread betting allows gamblers to wager on

4186-488: The amounts paid out are rounded down to a denomination interval—in California , Australia , and British Columbia , 10¢ intervals are used. The rounding loss is known as breakage and is retained by the betting agency as part of the commission. In some situations, a negative breakage may occur—for example, in horse racing when an overwhelming favorite wins (or shows or places). The parimutuel calculation results might call for

4277-601: The area into the Roman province of Tarraconensis . The German Visigoths established themselves in the fifth century, making their first capital in the Iberian peninsula Barcelona, and they later would move to Toledo. This continued until 718 when Muslim Arabs took control of the region in order to pass through the Pyrenees into French territory. With the help of the Franks, a land border

4368-742: The autonomous community of Catalonia, in the northeast part of Spain. At least 100,000 Catalan speakers live in the Pays Catalan in France. An indeterminate number of Catalans emigrated to the Americas during the Spanish colonial period and to France in the years following the Spanish Civil War . Described by author Walter Starkie in The Road to Santiago as a subtle people, he sums up their national character with

4459-405: The bet is successful, the bettor will get either the full winning amount shown on the board, or half the winning amount. Under a flexi system the bettor can nominate their desired total wager, and their percentage of payout is determined by this wager's relationship to the full unit price. Using a five horse box trifecta, the bettor may wish to lay only $ 20 on the outcome. Their percentage of winnings

4550-507: The collectible game pieces (respectively, small discs and trading cards) as stakes, resulting in a meta-game regarding the value of a player's collection of pieces. Gambling dates back at least to the Paleolithic period, before written history. In Mesopotamia the earliest six-sided dice date to about 3000  BCE . However, they were based on astragali dating back thousands of years earlier. In China, gambling houses were widespread in

4641-708: The doctrine of outward holiness , oppose gambling which they believe is a sin that feeds on greed. Other denominations that discourage gambling are the United Methodist Church , the Free Methodist Church , the Evangelical Wesleyan Church , the Salvation Army , and the Church of the Nazarene . Other Protestants that oppose gambling include Mennonites , Schwarzenau Brethren , Quakers ,

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4732-415: The early 20th century, gambling was almost uniformly outlawed throughout the U.S. and thus became a largely illegal activity, helping to spur the growth of the mafia and other criminal organizations . The late 20th century saw a softening in attitudes towards gambling and a relaxation of laws against it. Many jurisdictions, local as well as national, either ban gambling or heavily control it by licensing

4823-527: The eighteenth century as a result of the enlightenment influence to the bourgeoisie . The second one happened during the nineteenth century, that had a huge impact on the lower and middle class , but was interrupted by the outbreak of the Spanish Civil War (1936–1939). The end of the Francoist regime led to a loss of power by the Catholic Church and to another wave of secularization that extends since

4914-483: The event, betting agencies will often provide an approximate pay-out figure for each given outcome should no more bets be accepted after the current time. Using the wagers and commission rate above (14.25%), an approximates table in decimal odds and fractional odds would be: In real-life examples, such as horse racing , the pool size often extends into millions of dollars with many different types of outcomes (winning horses) and complex commission calculations. Sometimes,

5005-571: The first millennium BCE, and betting on fighting animals was common. Lotto games and dominoes (precursors of Pai Gow ) appeared in China as early as the 10th century. Playing cards appeared in the 9th century CE in China. Records trace gambling in Japan back at least as far as the 14th century. Poker , the most popular U.S. card game associated with gambling, derives from the Persian game As-Nas , dating back to

5096-520: The following common bet types and pools for horse racing. In Japan , horse racing (競馬, keiba ), velodrome cycling (競輪, keirin ), stock outboard powerboat racing (競艇, Kyōtei ), and paved flat track motorcycle racing (オートレース, Auto Race ) operate the following parimutuel types. Wager must be a multiple of 100 yen except Each-way. The following bet type are offered by the government-controlled betting agency Pari Mutuel Urbain (PMU). Tiercé, Quarté+ and Quinté+ bets are typically only offered on

5187-526: The greater the amount of gambling activity in a given country, the more volatile that country's stock-market prices are. Legalization of online sports betting was found to decrease household saving, decrease investment with positive expected value and increase financial distress . Catalan people This is an accepted version of this page Catalans ( Catalan , French and Occitan : catalans ; Spanish : catalanes ; Italian : catalani ; Sardinian : cadelanos or catalanos ) are

5278-524: The imposition of absolutism and the abolition of Catalan political institutions and public law, thus ending the status of Catalonia as a separate state within a personal union. During the Napoleonic Wars , much of Catalonia was seized by French forces by 1808, as France ruled the entire country of Spain briefly until Napoleon 's surrender to Allied Armies. In France, strong assimilationist policies integrated many Catalans into French society, while in Spain

5369-561: The inhabitants after a continued process of language shift . According to a 2019 survey by the Catalan government, 31.5% of the inhabitants of Catalonia have Catalan as first language at home whereas 52.7% have Spanish, 2.8% both Catalan and Spanish and 10.8% other languages. The inhabitants of the Aran valley count Aranese –an Occitan dialect–rather than Catalan as their own language. These Catalans are also bilingual in Spanish. In September 2005,

5460-464: The invention of a specialized mechanical calculating machine known as a totalisator , "automatic totalisator" or "tote board", invented by the Australian engineer George Alfred Julius . The first was installed at Ellerslie Racecourse , Auckland , New Zealand, in 1913, and they came into widespread use at race courses throughout the world. The U.S. introduction was in 1927, which led to the opening of

5551-562: The kingdoms of Valencia and Majorca (the Balearic Islands ). From the 13th century onwards, the territory of the County of Barcelona and the other Catalan counties progressively began to be identified as a single political entity and, from the mid-14th century, that polity began to be known as the Principality of Catalonia . The crisis of the late Middle Ages , the loss of hegemony within

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5642-416: The largest race of the day. Gambling Gambling (also known as betting or gaming ) is the wagering of something of value ("the stakes") on a random event with the intent of winning something else of value, where instances of strategy are discounted. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize . The outcome of

5733-415: The leanings of the current government. As a result, there tends to be much fluctuation depending on regional and national politics during a given election cycle. Given the stronger centralist tendencies in France, however, French Catalans display a much less dynamic sense of uniqueness, having been integrated more consistently into the unitary French national identity. The vast majority of Catalans reside in

5824-552: The loser had stolen the funds see "Rights of owner of stolen money as against one who won it in gambling transaction from thief". An interesting question is what happens when the person trying to make recovery is the gambler's spouse, and the money or property lost was either the spouse's, or was community property . This was a minor plot point in a Perry Mason novel, The Case of the Singing Skirt , and it cites an actual case Novo v. Hotel Del Rio . The Buddha stated gambling as

5915-478: The most recent study sponsored by the government of Catalonia , as of 2016, 61.9% of the Catalans identify as Christians , up from 56.5% in 2014. At the same time, 16.0% of the population identify as atheists , 11.9% as agnostics , 4.8% as Muslims , 1.3% as Buddhists , and a further 2.4% as being of other religions. Catalonia is one of the richest and most developed regions in Southern Europe . Barcelona

6006-521: The official language and imparted a distinctly Roman culture upon the local population, which merged with Roman colonists from the Italian peninsula . An early precursor to the Catalan language began to develop from a local form of popular Latin before and during the collapse of the Roman Empire . Various Germanic tribes arrived following nearly six centuries of Roman rule, which had completely transformed

6097-457: The order of finish for a single participant, as follows: In Canada and the United States , the most common types of bet on horse races include: Win, place and show wagers class as straight bets, and the remaining wagers as exotic bets. Bettors usually make multiple wagers on exotic bets. A box consists of a multiple wager in which bettors bet all possible combinations of a group of horses in

6188-650: The other side of the Pyrenees held back the main Muslim raiding army which had penetrated virtually unchallenged as far as central France at the Battle of Tours in 732. Frankish suzerainty was then extended over much of present-day Catalonia. Larger wars with the Muslims began in the March of Barcelona which led to the beginnings of the Reconquista by Catalan forces over most of Catalonia by

6279-490: The other to frame conversations around the subjects, resulting in a shift of perceptions among their audiences. Gambling is also a major international commercial activity, with the legal gambling market totaling an estimated $ 335 billion in 2009. In other forms, gambling can be conducted with materials that have a value, but are not real money. For example, players of marbles games might wager marbles, and likewise games of Pogs or Magic: The Gathering can be played with

6370-605: The outcome of an event where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome. For example, a wager can be based on the when a point is scored in the game in minutes and each minute away from the prediction increases or reduces the payout. Many betting systems have been created in an attempt to "beat the house" but no system can make a mathematically unprofitable bet in terms of expected value profitable over time. Widely used systems include: Many risk-return choices are sometimes referred to colloquially as "gambling." Whether this terminology

6461-410: The payout is agreed at the time the bet is sold. Parimutuel gambling is frequently state-regulated, and offered in many places where gambling is otherwise illegal. Parimutuel gambling is often also offered at " off track " facilities, where players may bet on the events without actually being present to observe them in person. In a hypothetical event that has eight possible outcomes, in a country using

6552-401: The position that there is no moral impediment to gambling, so long as it is fair, all bettors have a reasonable chance of winning, there is no fraud involved, and the parties involved do not have actual knowledge of the outcome of the bet (unless they have disclosed this knowledge), and as long as the following conditions are met: the gambler can afford to lose the bet, and stops when the limit

6643-504: The remaining place(s). A Roving Banker Trifecta is where the player believes that one or two runners will definitely finish 1st, 2nd or 3rd. The bet can be placed by picking the player's favourite runner to finish in any place within the bet and complete the Trifecta with any number of other runners to fill the other placing(s). The following pools are operated at meetings in mainland Britain: Exotic wagers are usually made on horses running at

6734-633: The rest remained under Spanish Crown. The Catalan government took sides with the Habsburg pretender against the Bourbon one during the War of the Spanish Succession that started in 1705 and ended in 1714. The Catalan failure to defend the continuation of Habsburg rule in Spain culminated in the surrender of Barcelona on 11 September 1714 which came to be commemorated as Catalonia's National Day . The surrender led to

6825-659: The rule of various invading groups starting with the Greeks that founded Empúries and the Phoenicians and Carthaginians , who set up colonies along the coast, including Barcino (present-day Barcelona). Following the Punic Wars , the Romans replaced the Carthaginians as the dominant power in the Iberian eastern coast, including parts of Catalonia, by 206 BCE. Rome established Latin as

6916-451: The same race. A key involves making a multiple wager with a single horse in one race bet in one position with all possible combinations of other selected horses in a single race. A multi-race wheel (cf. wheel, above) consists of betting all horses in one race of a bet involving two or more races. For example, a 1-all daily double wheel bets the 1-horse in the first race with every horse in the second. People making straight bets commonly employ

7007-565: The same track on the same program. In the United Kingdom , bookmakers also offer exotic wagers on horses at different tracks. Probably the Yankee occurs most commonly: in this the bettor tries to pick the winner of four races. This bet also includes subsidiary wagers on smaller combinations of the chosen horses; for example, if only two of the four horses win, the bettor still collects for their double. A Trixie requires trying to pick three winners, and

7098-776: The states of the Crown of Aragon, such as the Revolt of the Germanies in Valencia and Majorca, and the 1640 revolt in Catalonia known as the Reapers' War . This latter conflict embroiled Spain in a larger war with France as the Catalan institutions allied themselves with Louis XIII . The war continued until 1659 and ended with the Peace of the Pyrenees , which effectively partitioned the Principality of Catalonia as its northern strip came under French rule, while

7189-420: The strategy of an "each way" bet. Here the bettor picks a horse and bets it will win, and makes an additional bet that it will show, so that theoretically if the horse runs third it will at least pay back the two bets. The Canadian and American equivalent is the bet across (short for across the board ): the bettor bets equal sums on the horse to win, place, and show. A parlay, accumulator or roll-up consists of

7280-531: The suburban Arlington Racetrack in Arlington Park , near Chicago, and Sportsman's Park in Cicero, Illinois , in 1932. Unlike many forms of casino gambling, in parimutuel betting the gambler bets against other gamblers, not the house, which necessarily implies that the bank cannot be broken . The science of predicting the outcome of a race is called handicapping . Independent off-track bookmakers typically have

7371-435: The total amount to be distributed W R is first divided into k equal shares. If m is one of the k winners, those who bet on outcome m will receive a payout of ( W R / k ) / W m for every dollar they bet on it. The parimutuel system was invented by French- Catalan entrepreneur and showman impresario Joseph Oller in 1867. The large amount of calculation involved in this system led to

7462-641: The vendors. Such regulation generally leads to gambling tourism and illegal gambling in the areas where it is not allowed. The involvement of governments, through regulation and taxation, has led to a close connection between many governments and gambling organizations, where legal gambling provides significant government revenue, such as in Monaco and Macau , China. There is generally legislation requiring that gambling devices be statistically random , to prevent manufacturers from making some high-payoff results impossible. Since these high payoffs have very low probability ,

7553-441: The wager is often immediate, such as a single roll of dice , a spin of a roulette wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season. The term "gaming" in this context typically refers to instances in which the activity has been specifically permitted by law . The two words are not mutually exclusive; i.e. ,

7644-416: The wagering company deducts a commission rate of r from the pool, the amount remaining to be distributed between the successful bettors is W R = W T (1 − r ) . Those who bet on the successful outcome m will receive a payout of W R / W m for every dollar they bet on it. When there are k possible winners, such as a North American "place" bet which has k = 2 winners,

7735-931: The wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started. Betting on team sports has become an important service industry in many countries. Before the advent of the internet, millions of people played the football pools every week in the United Kingdom . In addition to organized sports betting, both legal and illegal, there are many side-betting games played by casual groups of spectators, such as NCAA basketball tournament Bracket Pools, Super Bowl Squares, Fantasy Sports Leagues with monetary entry fees and winnings, and in-person spectator games like Moundball . Based on Sports Betting, Virtual Sports are fantasy and never played sports events made by software that can be played every time without wondering about external things like weather conditions. Arbitrage betting

7826-526: The word "Catalans" to include all people from areas in which Catalan is spoken , namely those from Andorra , Valencia , the Balearic Islands , eastern Aragon , Roussillon , and the city of Alghero in Sardinia . The Catalan government regularly surveys its population regarding its "sentiment of belonging". As of July 2019, the results point out that 46.7% of the Catalans and other people living in Catalonia would like independence from Spain, 1.3% less than

7917-535: The year 801. As the border between Muslim and Frankish realms stabilized, Barcelona would become an important center for Christian forces in the Iberian Peninsula . In 1137, the County of Barcelona entered a dynastic union with the Kingdom of Aragon to form what modern historians call the Crown of Aragon in the so-called Reconquista . This allowed the reclamation of Muslim-dominated lands, eventually conquering

8008-500: The year before. In 1500 BCE the area that is now known primarily as Catalonia was, along with the rest of the Iberian Peninsula , inhabited by Proto-Celtic Urnfield people who brought with them the rite of burning the dead. Much of the Pyrenees mountains was inhabited at the time by peoples related to modern Basques , and today many town names in the western Catalan Pyrenees can be linked to Basque etymologies. These groups came under

8099-403: Was created commonly known nowadays as Old Catalonia (which would consist of the counties County of Barcelona , Ausona , County of Pallars , County of Rosselló , County of Empúries , County of Cerdanya and County of Urgell ) which faced Muslim raids but resisted any kind of settlement from them. The southern New Catalonia was under Arab/Muslim rule for about 4-5 centuries. The Franks on

8190-504: Was strictly controlled by the government for many years. In the mid-20th century, illegal gambling was common. However, with the opening of regulated casinos in 2010, the approach shifted. Today, the government enforces strict laws to promote responsible gambling and prevent illegal activities. Gambling has been a popular activity in the United States for centuries. It has also been suppressed by law in many areas for almost as long. By

8281-450: Was very strong, but today it is only practiced in the rural areas. Spicy food is rare in the Catalan diet but there are quite garlicky sauces such as allioli or romesco . One type of Catalan dish is escudella , a soup which contains chick peas, potatoes, and vegetables such as green cabbage, celery, carrots, turnips, and meats such as botifarra (a Catalan sausage), pork feet, salted ham, chicken, and veal. In Northern Catalonia, it

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