Types of gambling

Types of gambling
Casino games
While almost any game can be played for money, and any game typically played for money can also be played just for fun, some games are generally offered in a casino setting.

Table games

A pachinko parlor in Tokyo, Japan
Blackjack
Pai Gow Poker and Tiles
Poker
Spanish 21
3-card poker
Baccarat (punto banco)
Caribbean Stud Poker
Casino war
Craps
Fan-Tan
Faro
Let it ride
Pachinko
Pyramid Poker
4-card poker
Red Dog
Sic Bo
Texas Hold'em Bonus Poker
Roulette

Electronic gaming
Slot machine
Video poker

Other gambling
Sports betting
Keno
Bingo

Non-casino gambling games

Mahjong tiles.
Gambling games that take place outside of casinos include Bingo (as played in the US and UK), dead pool, lotteries, pull-tab games and scratchcards, and Mahjong.
Other non-casino gambling games include:
Card games, such as Liar's poker, Bridge, Basset, Lansquenet, Piquet, Put, Teen patti
Coin-tossing games such as Head and Tail, Two-up*
Confidence tricks such as Three-card Monte or the Shell game
Carnival Games such as The Razzle or Hanky Pank
Dice-based games, such as Backgammon, Liar's dice, Passe-dix, Hazard, Threes, Pig, or Mexico
*Although coin tossing isn't usually played in a casino, it has been known to be an official gambling game in some Australian casinos

Fixed-odds gambling
Fixed-odds gambling and Parimutuel betting frequently occur at many types of sporting events. In addition many bookmakers offer fixed odds on a number of non-sports related outcomes, for example the direction and extent of movement of various financial indices, the winner of television competitions such as Big Brother, election results. Interactive prediction markets also offer trading on these outcomes, with "shares" of results trading on an open market.

Parimutuel betting

Tokyo Racecourse in Tokyo, Japan.
Main article: Parimutuel betting
One of the most widespread forms of gambling involves betting on horse or greyhound racing. Wagering may take place through parimutuel pools, or bookmakers may take bets personally. Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started.

Sports betting
Main article: sports betting
Betting on team sports has become an important service industry in many countries. For example, millions of Britons play the football pools every week.

Arbitrage betting
Main article: arbitrage betting
Arbitrage betting is a theoretically risk-free betting system in which every outcome of an event is bet upon so that a known profit will be made by the bettor upon completion of the event, regardless of the outcome. Arbitrage betting is a combination of the ancient art of arbitrage trading and gambling, which has been made possible the large numbers of bookmakers in the marketplace, creating occasional opportunities for arbitrage.

Other types of betting
One can also bet with another person that a statement is true or false, or that a specified event will happen (a "back bet") or will not happen (a "lay bet") within a specified time. This occurs in particular when two people have opposing but strongly-held views on truth or events. Not only do the parties hope to gain from the bet, they place the bet also to demonstrate their certainty about the issue. Some means of determining the issue at stake must exist. Sometimes the amount bet remains nominal, demonstrating the outcome as one of principle rather than of financial importance.
Betting exchanges allow consumers to both back and lay at odds of their choice. Similar in some ways to a stock exchange, a better may want to back a horse (hoping it will win) or lay a horse (hoping it will lose, effectively acting as bookmaker).