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".
Famous quotes containing the words sucker and/or bet:
“There’s a sucker born every minute.”
—Phineas Barnum (1810–1891)
“Peter: I’ll bet there isn’t a good piggy-back rider in your whole family. I never knew a rich man yet who could piggy-back ride.
Ellie: You’re prejudiced.
Peter: You show me a good piggy-backer and I’ll show you a real human. Now you take Abraham Lincoln, for instance. A natural piggy-backer.”
—Robert Riskin (1897–1955)