Sucker bet
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A sucker bet is a gambling wager in which the expected return is significantly lower than the wager(s).
Variants include:
- Parlay: One bet ticket written with at least two wagers (all must win for the ticket to cash).
- Teaser: A sucker wager that allows bettors to add and subtract points from posted odds.
- Exotic: Any wager other than a straight bet or parlay (also referred to as a proposition or prop).
For example, the chances of correctly guessing the order of the final 3 cards of Faro is usually 1 in 6, yet the bet only pays 4:1 or 5:1. Taking insurance in Blackjack is also often considered a sucker bet.
The name originates in that sucker bets are often created to lure inexperienced players into betting against large odds, blinded by the offer of "fast money".
References
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