A gambler usually has to give the betting service $11 for the chance to win $10 (the extra $1 goes to the service for handling the bet). If the gambler wins, he gets his $11 back and an additional $10. Sounds good, right? But if the gambler loses, he loses $11. Getting $10 if you win but losing $11 if you lose means over time most gamblers lose money, because it is hard to pick game winners more than half the time.

Source: Washington Post September 30, 2021 15:00 UTC