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.

Betting Pool

A betting pool, sports lottery, sweep or office pool if done at work, is a form of gambling, specifically a variant of parimutuel betting influenced by lotteries, where gamblers pay a fixed price into a pool from which taxes and a house take or vig are removed, and then make a selection on some outcome, usually related to sport. In an informal game, the vig is usually quite small or non-existent. The pool is evenly divided between those that have made the correct selection. There are no odds involved; each winner's payoff depends simply on the number of gamblers and the number of winners. True parimutuel betting, which was historically referred to as pool betting, involves both odds calculations and variable wager amounts.

Contestants predict the outcome of sporting events that take place at a later time. The concept was introduced in 1923 by Littlewoods Pools where it was known as totoclarification needed and based on football soccer matches. Today in England, sports lotteries are more commonly referred to as football pools. American sports lotteries often do not require contestants to purchase a lottery ticket or make an initial wager. Hockey pools are common in North America, and footy tipping in Australia.

Dead Mans Hand

The dead man's hand is a two-pair poker hand, namely aces and eights. This card combination gets its name from a legend that it was the five-card-draw hand held by Wild Bill Hickok, when he was murdered on August 2, 1876, in Saloon No. 10 at Deadwood, South Dakota.

According to the popular version, Hickok's final hand included the aces and eights of both black suits. As Hickok's biographer, Joseph Rosa puts it: the accepted version is that the cards were the ace of spades, the ace of clubs, two black eights clubs and spades, and the queen of clubs as the kicker. However, Rosa says no contemporary source for this exact hand can be found. The earliest detailed reference to the dead man's hand is 1886, where it was described as a full house consisting of three jacks and a pair of tens.

In accounts that mention two aces and eights, there are various claims regarding the identity of Hickok's fifth card, suggestions that he had discarded one card and/or that the draw was curtailed by the shooting and Hickok therefore never received his fifth card.

In the HBO television historical drama series Deadwood, a nine of diamonds is depicted, although the show posits that another player concocted the hand, to further his own newsworthiness. An episode of Ripley's Believe it or Not shows Hickok holding a queen of clubs. An episode of Quantum Leap also shows Sam's love interest holding a Dead Man's Hand.

Historical displays in the town of Deadwood, including one in a reconstruction of the original Saloon No. 10, also show the nine of diamonds as the fifth card. The Lucky Nugget Gambling Hall, which holds the historic site of Saloon No. 10, instead displays a jack of diamonds. The Adams Museum in Deadwood has a display that claims to be the actual squeezer cards held by Hickok. The hand is: ace of diamonds, ace of clubs, eight of hearts, eight of spades, and the queen of hearts. The Stardust on the Las Vegas Strip has used a five of diamonds in related displays and the Las Vegas Metropolitan Police Department Homicide Division uses the dead man's hand in its insignia, as does the Armed Forces Medical Examiner System.