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.

Duplicate Poker

 

Duplicate poker is a variant of the popular card game poker. Duplicate poker is based on the principles of Duplicate Bridge but also involves some of the rules used for playing pot limit and no limit Texas hold'em.

Duplicate poker is a skill-based game in which there are two or more tables consisting of the same number of players. Each table is dealt with an identically shuffled deck of cards. Every player holds the same hand as the person seated in identical seats at other tables.

All players begin each hand with the ability to bet the same number of playing chips, regardless of prior performance in the previous rounds.

The object of Duplicate poker is to win more chips than your opponents sitting in corresponding seats at other tables. Ultimately, the winner is decided based on the total number of chips accumulated up until the end of the game, as compared with those held by all players in the same seats at the other tables. Conceivably, even a player who loses chips overall can win at the game if that player loses fewer chips than his opponents.

Duplicatepoker.com, the first poker room to use the format, closed down on October 5th 2008, citing the global financial crisis as the reason for the removal of services. It had previously been popular due to the fact that as a skill-based game it was legal in the U.S. While the game is more conducive to an automated online format because of pre-set decks and the need to record accurate scoring, Duplicate poker has also been played in a live format. The first-ever Duplicate poker tournament was held in April 2007 at the Cherokee Casino in Tulsa, Oklahoma.

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